Portland, OR, March 11, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global cable drum market was estimated at $547.3 million in 2018 and is expected to reach $767.5 million by 2026, growing at a CAGR of 4.1% from 2019 to 2026. The report offers a detailed analysis of the top winning strategies, top investment pockets, drivers & opportunities, market size & estimations, competitive landscape, and wavering market trends.
Progress in the oil and gas industries, increase in potential in the construction industry, and upsurge in demand for automation in the process industries fuel the growth of the global cable drum market. On the other hand, strike in mining industry, and rivalry from domestic manufacturers curtail down the growth to certain extent. However, increase in government outlays for electricity is projected to offer an array of opportunities in the near future.
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The wood segment to rule the roost-
By type and material, the wood segment accounted for more than half of the total market revenue in 2018, and is projected to dominate by 2026. At the same time, the plastic segment would cite the fastest CAGR of 5.1% throughout the study period. The other segments discussed in the report include plywood and steel.
The motorized segment to lead the trail by 2026-
By mechanism, the motorized segment garnered the highest share in 2018, holding more than half of the global market. The segment would also grow at the fastest CAGR of 4.5% from 2019 to 2026. The manual segment is also analyzed in the report.
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Europe garnered the highest share in 2018-
By geography, Europe contributed to two-fifths of the total market share in 2018, and is expected to maintain the lion’s share during the estimated period. Simultaneously, Asia-Pacific would register the fastest CAGR of 5.2% during 2019–2026. The other two regions assessed in the report include LAMEA and North America.
Frontrunners in the industry-
Key market players analyzed in the cable drum market report include Schwabe GmbH, Svenssongroup, Conductix-Wampfler, Cable Equipements, Coxreels, Nicoletti, Hildebrandt Group, Bryant Unlimited, and Hannay Reels. These players have taken recourse to high-end market strategies such as partnerships, collaboration, mergers & acquisitions, and new product launch to brace their stand in the industry.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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