Cable Wood Drum Market
Cable Wood Drum Market (Reel Type: One-way Reel and Iron-circled/Tired Multiway Cable Reel; and Loading Capacity: < 500 kg, < 1,000 kg, < 2,000 kg, < 4,000 kg, < 6,000 kg, and <10,000 kg) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027
Press Release :
Growth of Telecommunication Sector in Developing Regions to Augment Cable Wood Drums Market
For several decades in the past, cable wood drums are deployed to safely transport wires, conductors, and cables in most regions around the world. The significant rise in investments for infrastructure development activities across developing regions such as the Asia Pacific and Latin America and the booming telecommunication sector in these regions are likely to drive the cable wood drum market during the forecast period. Key participants in the current market landscape are likely to address multiple challenges pertaining to the handling, storage, transportation, and installation of their products by exploring the possibilities of developing cable drums from other materials.
Despite a steady rise in the demand for cable wood drums in the past few years mounting environmental concerns are compelling companies to adopt a sustainable model wherein cable drums are made from eco-friendly alternatives such as steel. In addition, other factors that could hamper the growth of the market for cable wood drums during the assessment period include recurring drum costs and rising packaging weights. While operators in the current market landscape continue to negotiate their way through these challenges, the significant rise in production lines will continue to offer them lucrative opportunities in the coming years. Thus, the global cable wood drum market is expected to reach ~US$ 1.3 Bn by the end of 2027.
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Recycling of Cable Wood Drums Gains Momentum Due to Mounting Environmental Concerns
The impact of global warming and environmental degradation can be felt across a host of industrial verticals. The cable wood drum market is no exception and thus, efforts are being made to improve sustainability, curb waste, reduce costs, and encourage second-hand wooden drums recycling. Recycling of wooden drums has gained momentum and the trend is most likely to continue during the forecast period. At present, recycling of wooden drums at the commercial level is highly popular in developing regions due to a significant rise in the number of scrap cable sellers.
In their bid to maximize their profits, companies involved in the current cable wood drum market are leaning toward recycling of their cable drums. In addition, as the General Disposal Fees is increasing at a notable pace each year across the different nations in the Asia Pacific region, companies are averse to the idea of paying these additional costs.
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Entry of Internet of Things Pave the Way for Smart Cable Wood Drums
With the dawn of Industry 4.0, the industrial Internet of Things (IoT) is gradually revolutionizing different logistics processes across different industries. Companies in the current market for cable wood drums are eyeing the benefits of the IoT to improve the overall logistics of their cable wood drums. Some companies in the current market landscape are integrating their cable wood drums with trackers to simplify logistics management and minimize logistics costs. Companies in the cable wood drum market are deploying new technologies to improve the traceability of their cable wood drums to streamline real-time management. For instance, Nexans installed connected trackers developed by ffly4U in their cable wood drums. The installation of these connected trackers played an important role in curbing the management costs by nearly 20%. In addition, apart from monitoring the location of cable drums, the connected tracker also provided data regarding the number of cables on each drum. The onset of novel technologies, including IoT is projected to improve logistics management by a considerable margin within the cable wood drum market.
While technological innovations are expected to bring about significant changes in the cable wood drum market, one-way reels will continue to remain the most preferred reel-type over the course of the forecast period. Although the global demand for cable wood drums is likely to grow in the upcoming years, the growing adoption of steel drums is projected to hamper the growth of the cable wood drum market in the foreseeable future.
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The cable wood drum market is on course to expand at a CAGR of ~4% during the forecast period. Major factors that will influence the market growth, including the considerable growth of the telecommunication sector in the developing regions, reliability of cable wood drums, and advent of novel technologies such as the IoT that have enhanced logistics management. Companies in the current market landscape should focus on tapping into opportunities within the telecommunication sector particularly in developing regions, including Asia Pacific and Latin America. Mounting environmental concerns will compel manufacturers to adopt sustainable growth strategies due to which, recycling of cable wood drums is expected to gain significant momentum during the forecast period.
Cable Wood Drum Market: Overview
- In terms of value, the global cable wood drum market is anticipated to expand at a CAGR of 4% during the forecast period to reach ~US$ 1.3 Bn by 2027
- Europe was the prominent region of the global cable wood drum market in 2018. The market in the region is expected to expand at a CAGR of more than 3.0% between 2019 and 2027.
- Asia Pacific is one of the major consumers of cable wood drum across the globe, owing to the increase in adoption of cable wood drums in telecommunication as well as construction industries in the region. China is a key consumer of cable wood drum in Asia Pacific, led by the presence of key players in the country.
- Increase in demand for cable wood drum in various industries, such as infrastructure development and power infrastructure, is a prominent factor estimated to drive the demand for cable wood drum during the forecast period
Cable Wood Drums: Product Introduction
- Cable drums are primarily used by cable manufacturers for packaging and transportation of electronic cables and high- and low-voltage cables, which are largely utilized for the development of power transmission infrastructure. Cables are valuable assets, and are used for various applications, including wiring a house for electricity and street lighting. Additionally, cables are employed in cabling a plant. They are also used in distribution and transmission networks. Thus, it is important that the medium that transports energy (cable and wire) is appropriately protected in order to ensure it is 100% suitable for application.
- Various types and sizes of cable wood drums are used, depending on the length/size of wire or cable. Furthermore, cable wood drums are available in different loading capacities; at lower cost; and with higher efficiency.
- Cable wood drums are used by manufacturers of fiber optic cables, signal and control cables, telecom and data cables, power cables, and coaxial cables for packaging and transportation. They are largely used in construction and infrastructure development activities. Cable drums store cables neatly when they are not in use. These drums also facilitate the quick deployment of cables, thus avoiding twisting and tangling. Cable drums offer an impeccable technique to ease transportation and laying of cables.
Rise in Demand for Iron-Circled/Tired Multiway Cable Reel
- Based on reel type, iron-circled/tired multiway cable reel was the major segment of the global cable wood drum market with more than 70% share in 2018. The iron-circled/tired multiway cable reel segment is projected to expand significantly during the forecast period. Rise in demand for iron-circled/tired multiway cable reel in medium and heavy cables, owing to the heavy load bearing capacity and ability to be used multiple times, is a key factor likely to drive the global cable wood drum market during the forecast period.
Rise in Demand for Cable Wood Drum with Loading Capacity of < 2,000 kg
- Based on loading capacity, < 2,000 kg was the key segment of the global cable wood drum market with more than 25% share in 2018. The < 2,000 kg segment is projected to expand significantly in the near future. Rise in demand for <2,000 kg for transporting wires used in electricity transmission and distribution sectors is a major factor likely to augment the global cable wood drum market during the forecast period.
Key Regional Highlights
- In terms of volume, Europe constituted key share of the global cable wood drum market in 2018. Germany, France, Italy, and Spain held large share of the cable wood drum market in the region in 2018. This trend is anticipated to continue during the forecast period, owing to the rise in demand for cable wood drums in wire & cable, telecommunication, and infrastructure development industries in the region. Italy has become a major consumer of cable wood drums in the world, due to the increase in consumption of cable wood drums in end-use industries such as electrical & electronics, construction, and telecommunication in the country.
- Asia Pacific accounted for vital share of the global cable wood drum market in 2018. The market in the region is expected to expand at a significant pace during the forecast period. China constituted significant share of the cable wood drum market in Asia Pacific in 2018, due to high demand for cable wood drums across the country.
Cable Wood Drum Market: Competition Landscape
- Manufacturers are focusing on the development of production facilities where used cable wood drums can be re-constructed in order to meet the demand for these drums among end users
- Key players operating in the global cable wood drum market are
- Sonoco Products Company,
- Pentre Group Ltd.,
- PKR Limited,
- Yorkshire Cable Drums,
- Eurocable (A part of Nexans S.A.),
- Askern UK Ltd.,
- The Hildebrandt Group,
- Industrial Packaging Ltd.,
- Boffi SpA,
- Svensson Group, and
- SARL CHASSIGNOL CHARLES
- The report comprises detailed company profiles of major players operating in the global cable wood drum market. It also consists of market share analysis and product mapping of the top players operating in the global cable wood drum market in 2018.
Cable Wood Drum Market – Scope of the Report
Transparency Market Research’s recent report on the cable wood drum market, with the help of a comprehensive outlook, provides readers with an assessment of the global market landscape. This study on the cable wood drum market analyzes the scenario for the period of 2019 to 2027, wherein 2018 is the base year. This report enables readers to make important decisions with regard to their business, with the help of a wealth of information enclosed in the study.
This TMR study on the cable wood drum market also provides data on the developments made by important players and stakeholders in the market, along with competitive analysis. The report also provides an understanding of the strengths, weaknesses, threats, and opportunities, along with the trends and restraints in the landscape.
Key Questions Answered in Cable Wood Drum Market Report
- How much revenue is the cable wood drum market expected to generate by the end of the forecast period?
- Which region currently accounts for the maximum share of the global cable wood drum market?
- What are the key indicators anticipated to drive the cable wood drum market?
- Which region is likely to be highly lucrative during the forecast period?
- What are the essential strategies incorporated by key stakeholders in the cable wood drum market to expand their geographical presence?
- What are the major advancements in the cable wood drum market?
This report answers these questions about the cable wood drum market, aiding major stakeholders and key players in making the right decisions and strategizing for the advancement of their business.
Cable Wood Drum Market: Research Methodology
This TMR report on the cable wood drum market is based on a complete and comprehensive evaluation of the market, supported by secondary and primary sources. The competitive scenario of the cable wood drum market is supported by an assessment of different factors that influence the market on a minute and granular level. By thoroughly analyzing the historical data and current trends, researchers of the cable wood drum market arrived at predictions and estimations, and calculated the forecast for the market.
This report uses an analytical triangulation method to estimate the numbers of the cable wood drum market, with both the bottom-up and top-down approaches. This detailed assessment of the cable wood drum market, along with an overview of the landscape, is provided based on a careful examination of the avenues related to this industry. Analysts’ conclusions on how the cable wood drum market is set to grow are based on carefully vetted primary and secondary sources.
Cable Wood Drum Market: Segmentation
This report on the cable wood drum market provides information based on reel type, loading capacity, and region.
This study also discusses the underlying trends and the impact of various factors that are driving the cable wood drum market, along with their influence on the evolution of the market.
This study also offers Porter’s Five Forces analysis, regulatory landscape, cable wood drum system process, and regulatory scenario of the cable wood drum market in order to elaborate the crucial growth tactics and opportunities for players contributing to the market.