Spools Market: Introduction
Wire & cables industry plays a vital role in shaping the world infrastructure. The global wire & cable industry is rapidly growing due to the emerging markets ramping up their digital infrastructure developments and developed world is renovating its age old infrastructure for power transmission & distribution and telecommunication. Wire & cable packaging industry witnessed changing trends during last few years. Safety issues such as fire hazards, damage of fibre optic cables etc. are demanding high-end sophisticated packaging for wire & cables. Spools or reels are the packaging products used to pack or bundle the cables or wires. Spools are a cylindrical round drum-shaped object to carry wires & cables. These are usually made of wood, metal, plastic and cardboard. The selection of the spool or reel depends on the diameter and load of the wire or cable intended to transport. Emerging markets like India, China, Russia, Mexico, Argentina, South Africa and Brazil are the target markets which spool manufacturers should focus on. TMR analysis shows that the market is projected to grow at a healthy CAGR with higher growth in emerging markets.
Some of the players in the global Spools market are:
Sonoco Products Company, Carris Reels, Inc., Vikas Spool Private Limited (VSPL), Pontrilas Group Packaging Ltd, Bobbins India, HI-TECH PLAST, Ace Metal, Inc., and others.
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Spools: Market Dynamics
Growing trends of transforming traditional age old infrastructure to digital is driving the global wire & cables industry, which in turn drives the global spools market. Governments’ emphasis on digital infrastructure developments also influences the above mentioned factor. Growing safety concerns on fire hazards and breaking up of cables during transportation demands high durability and efficient spools. Shipping space optimization is the major concern of wire and cable industries face today. Spools with modern technology touch are addressing this aforementioned issue.
Growing demand for renewable energy sources such as solar and wind energy, where challenge is to efficiently store and transfer the power demands reliable, durable and efficient spools, which is driving the global spools market. Load weight optimization, where lightweight wooden, plastic or rigid cardboard spools are used to bundle the wire and cables. Materials used by many spool manufacturers are 100% recyclable, which reduces carbon footprint considerably, which is driving the growth of spools market. To reduce the packaging costs wire & cable industry manufacturers are started to use returnable spools, which is another driving force of the spools market. Unorganized spools market has a considerable market share in global spools market. Unorganized spools manufacturers lack skilled labours, infrastructure and technology, which is restraining the overall growth of the global spools market. Indian spools market is the hotspot among the emerging markets according to TMR analysis.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
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The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
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