Transparency Market Research in its new report titled, “Cable Drum Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the cable drum market. The TMR report anticipates that the rise in the demand for wires and cables used for various applications will drive the cable drum market during the forecast period i.e, 2018-2026.
According to the report, the use of wires and cables is rising rapidly across the globe. Laying of electrical cables and fiber optics cables is increasingly rapidly in developing and developed nations across the globe. Increase in underground electrification in several countries is propelling the demand for cable drums across the globe, says the report. Growth in telecommunication and high speed internet cables is also a key factor for rise in demand for cable drums. Increase in focus on digitalization in countries such as India and China is boosting the demand for fiber optics and other cables. This is directly propelling the demand for cable drums to transport and hold these cables. Furthermore, need for wires and cables in electrical appliances and automotive is driving the market for cable drums, as these cables are delivered packed on cable drums to the manufacturing facilities where these cables & wires are unwound and made ready for use in vehicles and appliances.
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The report has segmented the cable drum market on the basis of type, into wooden cable drums, plywood cable drums, plastic cable drums, and steel cable drums. All these types offer specific advantages and disadvantages. Steel drums are more durable and can be reused; however, the cost of these drum is high. Steel cable drums are can also be made collapsible to save space when not in use. Demand for steel cable drums is rising than their wooden counterparts, as they are more durable and do not get damaged easily during transit. They are also less prone to theft. On the other hand, plywood and wooden drums are light in weight and inexpensive; this helps reduce transportation costs to an extent. Plastic drums are more often used for light weight applications and are usually small in size, as they are made from recycled plastics. They are eco-friendly and inexpensive.
On a geographical stand, the global cable drum market is split into Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. Among these, Asia Pacific is anticipated to be the key region of the cable drum market. Rise in manufacturing activities and expansion in several industries such as automotive, equipment manufacturing, and power generation are major factors driving the demand for cable drums market in the region. Increase in underground electrification and expansion of telecommunication networks in countries such as India, China, Vietnam, Malaysia, and Thailand are also boosting the cable drum market in the region. Asia Pacific is also the largest manufacturing hub for electrical & electronic appliances and automobiles. This is anticipated to augment the cable drum market for cable drums in the region due to high demand for wire and cables. Some of the major players operating in the global cable drum market are mentioned in this report and these include Hildebrandt GmbH, ESHAL TRADERS & CO., and SCHILL GMBH & CO. KG.
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