Global Cable Drum Market was valued US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at CAGR of XX% during forecast period of 2020 to 2027.
Global Cable Drum Market
Global Cable Drum Market Drivers and Restrains:
Cable drum is a drum shaped object to carry different types of wires or cables such as optic fiber, electrical, and other wire products. Cable drums are used in Industrial automation cables and these cables are mostly required in manufacturing and automotive industries. These cables contain industrial Ethernet cables, VFD cables to drive circuits portable power & cord products, instrumentation & control cables, and industrial communication cables for protocols. Automation in the upgrading and expansion of existing industrial facilities will drives the growth of the market. The global cable drum market is driven by growth of oil and gas industries, growth potential for construction industry, and gradual increase in the need for automation in the process industries. However, slowdown in mining industry, and competition from domestic manufacturers are hampering the market growth at the global level. Rise in government expenditure for electricity is likely to create lucrative opportunities in the global cable drum market.
The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.
Global Cable Drum Market Segmentation Analysis:
Based on the type, the wooden cable drum segment has led the cable drum market in 2019 and is estimated to generate more than US$ XX Mn market revenue by 2027, with a CAGR of XX%. Wooden drums and plywood drums are light in weight and inexpensive, which reduces the cost of transportation to some extent. Wooden drums are available in three different varieties such as steel-tyred for several use, export for sending abroad, and one-way drums for single trip use. Wooden drums can carry heavy loads and are constructed in resinous wood. The plastic cable drum segment is expected to grow at the CAGR of XX% during the forecast period owing to its installation in the power industry. Plastic drums are manufactured from recycled plastic and are small in size, therefore, these drums are mostly used in light weight applications. Additionally, plastic drums are inexpensive as they are manufactured from recycled plastic.
Global Cable Drum Market Regional Analysis:
Geographically, the cable drum market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America was accounted to US$ XX Mn in 2019 for the cable drum market and is expected to reach US$ Mn end of 2027, with a CAGR of XX%. Growing manufacturing, import export and demand for cranes from the North America region are driving the demand of the industrial cable drum in the region
The market in Asia Pacific is expected to grow at a high CAGR of XX% during the forecast period. Rising manufacturing activities and expansion in many industries like equipment manufacturing, automotive, and power generation are propelling the cable drums market growth in the region. The growth of telecommunication networks and a rise in underground electrification in emerging countries such as China, India, Vietnam, Thailand, and Malaysia are also driving the cable drum market in the region. Asia Pacific is the major manufacturing hub for automobiles and electrical & electronic appliances, which are anticipated to boosting the cable drum market in the region. Moreover, governments of many Asian countries encourage urbanization due to the supply of electricity is quite unpredictable in rural areas. Rapid urbanization leads to a rise in infrastructure investments, improvement in economic conditions, and change in lifestyle. This, in turn, results in large-scale government investments that subsequently boost the demand for cable drums across many sectors.
A report covers the recent development in the market for the cable drum market e.g., in February 2019, China planned to build the world’s largest super grid to connect six regional grids to enlarge its power distribution system. Also, the government of India announced Deendayal Upadhyaya Gram Jyoti Yojana (DDUGJY) and Accelerated Power Development and Reforms Programme (APDRP) to boost its power distribution sector in urban areas.
The objective of the report is to present a comprehensive analysis of global Cable Drum market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market are presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding global Cable Drum market dynamics, structure by analyzing the market segments and project the global Cable Drum market size. Clear representation of competitive analysis of key players By Type, Price, Financial position, Product portfolio, Growth strategies, and regional presence in the global Cable Drum market make the report investor’s guide.
Scope of the Global Cable Drum Market:
Global Cable Drum Market, by Type:
• Wooden Cable Drums
• Plywood Cable Drums
• Plastic Cable Drums
• Steel Cable Drums
Global Cable Drum Market, by Mechanism:
Global Cable Drum Market, by Region:
• Asia Pacific
• North America
• Latin America
• Middle East Africa
Global Cable Drum Market, Major Players:
• Bryant Unlimited
• Cable Equipements
• Hannay Reels
• Hildebrandt Group
• Schill GmbH & Co. Kg.
• Schwabe GmbH
• Eshal Traders & Co.
Maximize Market Research provides B2B and B2C market research on 20,000 high growth emerging technologies & opportunities in Chemical, Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.
Name: Vikas Godage
Organization: Maximize Market Research Pvt.Ltd.Pune
Email: [email protected]
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