Cable Wood Drum Market: Introduction
In terms of value, the global cable wood drum market is anticipated to expand at a CAGR of ~4% from 2019 to 2027. Cable wood drums are used for packaging, storing, and transporting different types of cables such as coaxial cable/electronic wires, fiber optic cables, low voltage energy & power cables, telecom cables, and control cables. Various types of cable drums with different sizes are available in the market for packaging cables. The usage of these drums in various sizes depends upon the types of cables. The preference of size varies with respect to the type of the cable and its diameter. The demand for cable wood drums in the wire & cable industry has been increasing at a rapid pace across the globe. This has resulted in extensive usage of cable wood drums in wire and cable manufacturing plants.
Rise in Adoption of Cable Wood Drum in Heavy Cable Industries
Rise in consumption of heavy cables in the construction industry in various developed and developing countries is a key factor anticipated to propel the demand for cable wood drums in the global wire & cable industry during the forecast period. The construction sector in Asia Pacific and Europe is estimated to expand at a significant pace during the forecast period. Europe is projected to become the sixth-largest construction sector across the world by 2030. Thus, increase in construction activities is likely to boost the residential and non-residential sectors in the region in the near future. This, in turn, is expected to augment the demand for cable and wire products in the Europe in the next few years.
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Iron-circled/Tired Multiway Cable Reel to Witness High Demand
Based on reel type, the global cable wood drum market has been bifurcated in one-way reel and iron-circled/tired multiway cable reel. The iron-circled/tired multiway cable reel segment is expected to expand at a CAGR of more than 3.5% during the forecast period. Iron-circled/tired multiway cable reels are primarily preferred for transporting heavy cables. They can also be used multiple times. Increase in popularity of iron-circled/tired multi-way cable reels with numerous potential benefits has boosted the demand for these cable reels, as they offer excellent load carrying capacity. Thus, iron-circled/tired multi-way cable reel segment is anticipated to remain highly attractive during the forecast period.
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< 2,000 Kg to be Preferred Loading Capacity
Based on loading capacity, the global cable wood drum market has been divided into < 500 kg, < 1,000 kg, < 2,000 kg, < 4,000 kg, < 6,000 kg, and < 10,000 kg. The < 2,000 kg segment held more than 25.0% share of the global cable wood drum market in 2018. This trend is anticipated to continue throughout the forecast period. < 2,000 kg cable wood drums are primarily used to transport cable and wires that are employed in telecommunication, power, and construction industries. The growth in adoption of high load carrying capacity drums has boosted the demand for < 2,000 kg and < 4,000 kg drums, owing to their easily availability and cost effectiveness vis-à-vis steel drums.
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Europe to be Lucrative Region of Cable Wood Drum Market
In terms of consumption, Europe dominated the global cable wood drum market in 2018. The market in the region is expected to expand at a rapid pace from 2019 to 2027. Rapid urbanization, strong economic growth, expansion in construction and infrastructure industries, and development of the power infrastructure sector are major macroeconomic factors that are anticipated to fuel the demand for cable wood drums during the forecast period. Increase in consumption of cable wood drums in the wire & cable industry is also estimated to drive the market in Europe. The iron-circled/tired multiway cable reel segment in Europe, particularly in France and Italy, is likely to witness moderate growth in terms of consumption of cable wood drums in the next few years. Based on consumption, Asia Pacific is projected to a be a vital region of the global cable wood drum market in the near future.
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Competition Landscape
The global cable wood drum market was fragmented in 2018, with the presence of numerous manufacturers. Eurocable (A part of Nexans S.A.), Sonoco Products Company, Pentre Group Ltd., etc. have considerable presence across the globe. These companies accounted for 50% share to 60% share of the global cable wood drum market in 2018. Key manufacturers operating in the global cable wood drum market include Sonoco Products Company, Pentre Group Ltd., PKR Limited, Yorkshire Cable Drums, EMS, Eurocable (A part of Nexans S.A. companies), CAPE, Askern UK Ltd., The Hildebrandt Group, Industrial Packaging Ltd., Boffi SpA, Labat-Merle, Svensson Group, and SARL CHASSIGNOL CHARLES.
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