Cord And Cable Reels MarketSize and Trends

In 2018, the cord and cable reels market generated revenue of US$ 6,404.0 Mn and is expected grow at a CAGR of 5.1% over the forecast period from 2019 to 2027.

A cord and cable reel is a product used to carry various types of electrical wires. Cable reels are drum shaped and are in wood, plastic, plywood, or steel. Cable reels are suitable for use in residential, commercial, and industrial applications. Cable and cord reels keep hoses and cables organized and off the ground for safer, more efficient worksite or plant environment.

Cable reels are either spring loaded, motorized or manual. Manufacturers in the market are focused on offering cable reels for flexible installation. Custom-engineered cable reels for high speed and heavy duty applications are trending in the market. Cord and cable reels help save space, reduce maintenance cost, and enhance safety at warehouses, manufacturing facilities, and in other applications. These features are expected to drive demand for cord and cable reels over the forecast period. In residential environment, cable reels are used in home improvement applications. For instance, Schneider Electric offers small and compact cable reels for residential applications. Industrial application segment held the dominant share in the global cord and cable reels market in 2018. The industrial applications of cable and cord reels include power or fluid supply, moving equipment and tools, battery charging for electric cars, and providing workstation-level support to industry and assembly workers. Furthermore, cable reels are an ideal power delivery solution for crane and hoist applications, including overhead cranes, monorails and magnet cranes as well as marine terminal applications such as ship-to-shore cranes. Increasing demand from these applications is expected to drive growth of the industrial segment over the forecast period.