NEW YORK, July 8, 2024 /PRNewswire/ — The global reels and spools market size is estimated to grow by USD 779.9 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 5.97% during the forecast period. Rising data center construction activities is driving market growth, with a trend towards recycling services for reels and spools. However, growth of wireless technology poses a challenge. Key market players include ABC Plastics Inc., ACE METAL INC., Appiani Group, Bobbins India, Boffi SpA, Boxy SpA, Carris Reels Inc., Comsuc Technology Development Ltd., George Evans Corp., GMP Slovakia sro, Inosym Ltd., Khorporate Holdings Inc., Merrimac Spool and Co., Nortic Inc., P and R Specialty Inc., Pentre Group Ltd., PKR Ltd., Sonoco Products Co., The Beacon Reel Co., and Vandor Corp..
Technavio has announced its latest market research report titled Global reels and spools market 2024-2028
Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report
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Reels And Spools Market Scope |
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Report Coverage |
Details |
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Base year |
2023 |
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Historic period |
2018 – 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.97% |
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Market growth 2024-2028 |
USD 779.9 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023 (%) |
5.28 |
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Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 48% |
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Key countries |
US, China, India, Germany, and UK |
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Key companies profiled |
ABC Plastics Inc., ACE METAL INC., Appiani Group, Bobbins India, Boffi SpA, Boxy SpA, Carris Reels Inc., Comsuc Technology Development Ltd., George Evans Corp., GMP Slovakia sro, Inosym Ltd., Khorporate Holdings Inc., Merrimac Spool and Co., Nortic Inc., P and R Specialty Inc., Pentre Group Ltd., PKR Ltd., Sonoco Products Co., The Beacon Reel Co., and Vandor Corp. |
Market Driver
Reels and spools are essential components used in various industries, including telecommunications, manufacturing, and packaging. These items are typically made from hard materials such as plastics, wood, or steel. However, the disposal of used reels and spools poses a challenge for end-users. Disposal methods, such as burning or landfilling, incur significant operating costs due to labor and energy requirements. For wooden reels, disposal in landfills can negatively impact the environment. To address these concerns, some market vendors, such as Sonoco Products, offer reel and spool recycling services. These services include pickup of used reels and spools from end-users’ facilities and refurbishment or resale of damaged items. By recycling reels and spools, manufacturers and end-users can reduce procurement costs of raw materials and promote sustainability. For instance, Andrew Wireless Solutions, in partnership with CommScope, recycles used reels to minimize environmental impact and lower costs. These initiatives are expected to fuel the growth of the reels and spools market during the forecast period.
Reels and spools are essential components in various industries, including the Electrical & Electronics sector. Oak and maple are popular material types for their durability and versatility. Lightweight reels and spools are preferred for ease of handling and transportation. In the Wire and Cable industry, tangled wires and excess length are common issues, making organized reel systems a must. Reels come in different gauges, tubes, and hoses, catering to various applications. The Building and Construction industry uses reels for raw packaging materials, while the Urbanization, Smart Cities, Power Distribution, Transmission Infrastructure, and Renewable Energy sectors rely on reels for wire and cable management. Government regulations and supply chain disruptions, including the pandemic, impact the reels and spools market. Fibre optic cables also use spools in the Telecommunications industry. The industry verticals continue to evolve, with trends towards neat and tidy, wind and unwind systems.
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Market Challenges
Wireless communication, which includes technologies like Bluetooth, mobile communication systems, satellite communication, and Wi-Fi, has witnessed significant growth due to its convenience and cost advantages over wired communication. This trend is expected to negatively impact the reels and spools market, as the increasing adoption of cloud-based applications reduces the need for in-house IT infrastructure and, consequently, the use of cables and wires. The global wireless communication industry is expanding rapidly, with companies employing organic growth strategies to meet escalating demand. This shift from wired to wireless communication is projected to decrease the requirement for reels used to transport fiber optic, coaxial, and ethernet cables during the forecast period.
The Reels and Spools market encompasses the production and supply of reels and spools used in various industries. Key material types include metal, wood, and plastic. In the Building and Construction sector, reels and spools are utilized for wire and cable applications. Fibre optic cables are a significant application in the Telecommunications industry. Urbanization and the development of Smart Cities require extensive transmission infrastructure, driving demand. Power Distribution and Renewable Energy sectors also rely on reels and spools for power transmission. Market challenges include government regulations, supply chain disruptions, pandemic impacts, and trade regulations. Import-export analysis is crucial for market players. Infrastructural development, rising living standards, and competitive positioning present opportunities. End-use industries like Wire and Cable, Tube and Hose, and various Industry Verticals are crucial consumers. Pricing, competitive opportunities, and market investment opportunities are essential factors. Market estimates and data are crucial for strategic decision-making. Companies like Ace Matrix, P&R Specialty, Spoolon Manufacturing, and Carris Reels compete in this market, offering Reel Options for diverse Application segments and Type segments.
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Segment Overview
This reels and spools market report extensively covers market segmentation by
Product
1.1 Reels
1.2 Spools
Type
2.1 Metal reels and spools
2.2 Wooden reels and spools
2.3 Plastics and others
Geography
3.1 APAC
3.2 North America
3.3 Europe
3.4 Middle East and Africa
3.5 South America
1.1 Reels- The Reels and Spools market refers to the production and sale of cylindrical components used in various industries, including printing and manufacturing. These products are essential for winding and unwinding materials such as paper, film, and thread. The market size is significant due to the wide range of applications in packaging, textiles, and other sectors. Producers focus on enhancing product quality and efficiency to meet customer demands. The market is competitive, with key players implementing pricing strategies and innovation to maintain market share.
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Research Analysis
Reels and spools are essential components in the production and distribution of various types of cables, including wire and cable, fibre optic cables, tube and hose. They come in different materials such as metal and wood, and are available in both returnable and non-returnable options. The market for reels and spools is diverse, catering to various end-use industries like telecommunications, power, automotive, and manufacturing. Fibre optic cables, in particular, require specialized reels and spools due to their delicate nature. The pricing of reels and spools depends on factors like material type, size, and the specific industry application. In countries with a strong manufacturing base, like China and the US, the demand for reels and spools is high due to their extensive cable industries. The material type of the reel or spool significantly impacts its cost and performance. For instance, metal reels offer better durability and are commonly used for heavy-duty applications, while wood reels are more cost-effective and lightweight, making them suitable for lighter applications. Overall, the reels and spools market is a critical component of the global cable industry, enabling the efficient production and distribution of various types of cables.
Market Research Overview
Reels and spools are essential components in various industries, including building and construction, fibre optic cables, and power distribution. Reels are used to wind and unwind different types of materials such as wire, cable, tubes, and hoses. The market for reels and spools is diverse, catering to urbanization and smart cities, transmission infrastructure, renewable energy, and more. Material types include metal, wood, plastic, pine, oak, maple, and more. Lightweight and durable options are popular due to their versatility. The industry verticals for reels and spools are vast, including electrical & electronics, wire, cable, and tube & hose industries. Urbanization, infrastructure development, and rising living standards are driving the demand for reels and spools. However, government regulations, supply chain disruptions, pandemic, trade regulations, and import-export analysis can impact the market. Market opportunities include the increasing adoption of renewable energy and the need for organized and neat solutions for wire and cable management. Market challenges include the risk of tangled or excess length and the need for system unwind and wind capabilities. Competitive position, investment opportunities, and market estimates are essential factors for businesses in the reels and spools industry. The Ace matrix and P&R Specialty, Spoolon Manufacturing, Carris Reels, Reel Options, and other key players offer various application segments and type segments to cater to end-use industries. Political factors and social scenarios can also influence market restraints and opportunities. Overall, the reels and spools market presents significant growth potential, with continuous innovation and technological advancements in material types and design.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Product
Reels
Spools
Type
Metal Reels And Spools
Wooden Reels And Spools
Plastics And Others
Geography
APAC
North America
Europe
Middle East And Africa
South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
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SOURCE Technavio