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Reels and Spools Market size is set to grow by USD 779.9 million from 2024-2028, Rising data center construction activities boost the market, Technavio

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NEW YORK, July 8, 2024 /PRNewswire/ — The global reels and spools market size is estimated to grow by USD 779.9 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 5.97% during the forecast period. Rising data center construction activities is driving market growth, with a trend towards recycling services for reels and spools. However, growth of wireless technology poses a challenge. Key market players include ABC Plastics Inc., ACE METAL INC., Appiani Group, Bobbins India, Boffi SpA, Boxy SpA, Carris Reels Inc., Comsuc Technology Development Ltd., George Evans Corp., GMP Slovakia sro, Inosym Ltd., Khorporate Holdings Inc., Merrimac Spool and Co., Nortic Inc., P and R Specialty Inc., Pentre Group Ltd., PKR Ltd., Sonoco Products Co., The Beacon Reel Co., and Vandor Corp..

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Reels And Spools Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 5.97%

Market growth 2024-2028

USD 779.9 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

5.28

Regional analysis

APAC, North America, Europe, Middle East and Africa, and South America

Performing market contribution

APAC at 48%

Key countries

US, China, India, Germany, and UK

Key companies profiled

ABC Plastics Inc., ACE METAL INC., Appiani Group, Bobbins India, Boffi SpA, Boxy SpA, Carris Reels Inc., Comsuc Technology Development Ltd., George Evans Corp., GMP Slovakia sro, Inosym Ltd., Khorporate Holdings Inc., Merrimac Spool and Co., Nortic Inc., P and R Specialty Inc., Pentre Group Ltd., PKR Ltd., Sonoco Products Co., The Beacon Reel Co., and Vandor Corp.

Market Driver

Reels and spools are essential components used in various industries, including telecommunications, manufacturing, and packaging. These items are typically made from hard materials such as plastics, wood, or steel. However, the disposal of used reels and spools poses a challenge for end-users. Disposal methods, such as burning or landfilling, incur significant operating costs due to labor and energy requirements. For wooden reels, disposal in landfills can negatively impact the environment. To address these concerns, some market vendors, such as Sonoco Products, offer reel and spool recycling services. These services include pickup of used reels and spools from end-users’ facilities and refurbishment or resale of damaged items. By recycling reels and spools, manufacturers and end-users can reduce procurement costs of raw materials and promote sustainability. For instance, Andrew Wireless Solutions, in partnership with CommScope, recycles used reels to minimize environmental impact and lower costs. These initiatives are expected to fuel the growth of the reels and spools market during the forecast period.

Reels and spools are essential components in various industries, including the Electrical & Electronics sector. Oak and maple are popular material types for their durability and versatility. Lightweight reels and spools are preferred for ease of handling and transportation. In the Wire and Cable industry, tangled wires and excess length are common issues, making organized reel systems a must. Reels come in different gauges, tubes, and hoses, catering to various applications. The Building and Construction industry uses reels for raw packaging materials, while the Urbanization, Smart Cities, Power Distribution, Transmission Infrastructure, and Renewable Energy sectors rely on reels for wire and cable management. Government regulations and supply chain disruptions, including the pandemic, impact the reels and spools market. Fibre optic cables also use spools in the Telecommunications industry. The industry verticals continue to evolve, with trends towards neat and tidy, wind and unwind systems.

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Market Challenges

Wireless communication, which includes technologies like Bluetooth, mobile communication systems, satellite communication, and Wi-Fi, has witnessed significant growth due to its convenience and cost advantages over wired communication. This trend is expected to negatively impact the reels and spools market, as the increasing adoption of cloud-based applications reduces the need for in-house IT infrastructure and, consequently, the use of cables and wires. The global wireless communication industry is expanding rapidly, with companies employing organic growth strategies to meet escalating demand. This shift from wired to wireless communication is projected to decrease the requirement for reels used to transport fiber optic, coaxial, and ethernet cables during the forecast period.The Reels and Spools market encompasses the production and supply of reels and spools used in various industries. Key material types include metal, wood, and plastic. In the Building and Construction sector, reels and spools are utilized for wire and cable applications. Fibre optic cables are a significant application in the Telecommunications industry. Urbanization and the development of Smart Cities require extensive transmission infrastructure, driving demand. Power Distribution and Renewable Energy sectors also rely on reels and spools for power transmission. Market challenges include government regulations, supply chain disruptions, pandemic impacts, and trade regulations. Import-export analysis is crucial for market players. Infrastructural development, rising living standards, and competitive positioning present opportunities. End-use industries like Wire and Cable, Tube and Hose, and various Industry Verticals are crucial consumers. Pricing, competitive opportunities, and market investment opportunities are essential factors. Market estimates and data are crucial for strategic decision-making. Companies like Ace Matrix, P&R Specialty, Spoolon Manufacturing, and Carris Reels compete in this market, offering Reel Options for diverse Application segments and Type segments.

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Segment Overview

This reels and spools market report extensively covers market segmentation by

Product1.1 Reels1.2 SpoolsType2.1 Metal reels and spools2.2 Wooden reels and spools2.3 Plastics and othersGeography 3.1 APAC3.2 North America3.3 Europe3.4 Middle East and Africa3.5 South America

1.1 Reels- The Reels and Spools market refers to the production and sale of cylindrical components used in various industries, including printing and manufacturing. These products are essential for winding and unwinding materials such as paper, film, and thread. The market size is significant due to the wide range of applications in packaging, textiles, and other sectors. Producers focus on enhancing product quality and efficiency to meet customer demands. The market is competitive, with key players implementing pricing strategies and innovation to maintain market share.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Research Analysis

Reels and spools are essential components in the production and distribution of various types of cables, including wire and cable, fibre optic cables, tube and hose. They come in different materials such as metal and wood, and are available in both returnable and non-returnable options. The market for reels and spools is diverse, catering to various end-use industries like telecommunications, power, automotive, and manufacturing. Fibre optic cables, in particular, require specialized reels and spools due to their delicate nature. The pricing of reels and spools depends on factors like material type, size, and the specific industry application. In countries with a strong manufacturing base, like China and the US, the demand for reels and spools is high due to their extensive cable industries. The material type of the reel or spool significantly impacts its cost and performance. For instance, metal reels offer better durability and are commonly used for heavy-duty applications, while wood reels are more cost-effective and lightweight, making them suitable for lighter applications. Overall, the reels and spools market is a critical component of the global cable industry, enabling the efficient production and distribution of various types of cables.

Market Research Overview

Reels and spools are essential components in various industries, including building and construction, fibre optic cables, and power distribution. Reels are used to wind and unwind different types of materials such as wire, cable, tubes, and hoses. The market for reels and spools is diverse, catering to urbanization and smart cities, transmission infrastructure, renewable energy, and more. Material types include metal, wood, plastic, pine, oak, maple, and more. Lightweight and durable options are popular due to their versatility. The industry verticals for reels and spools are vast, including electrical & electronics, wire, cable, and tube & hose industries. Urbanization, infrastructure development, and rising living standards are driving the demand for reels and spools. However, government regulations, supply chain disruptions, pandemic, trade regulations, and import-export analysis can impact the market. Market opportunities include the increasing adoption of renewable energy and the need for organized and neat solutions for wire and cable management. Market challenges include the risk of tangled or excess length and the need for system unwind and wind capabilities. Competitive position, investment opportunities, and market estimates are essential factors for businesses in the reels and spools industry. The Ace matrix and P&R Specialty, Spoolon Manufacturing, Carris Reels, Reel Options, and other key players offer various application segments and type segments to cater to end-use industries. Political factors and social scenarios can also influence market restraints and opportunities. Overall, the reels and spools market presents significant growth potential, with continuous innovation and technological advancements in material types and design.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ProductReelsSpoolsTypeMetal Reels And SpoolsWooden Reels And SpoolsPlastics And OthersGeographyAPACNorth AmericaEuropeMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Doo Group Strengthens Global Reach with CySEC License for Doo Financial

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LIMASSOL, Cyprus , Nov. 15, 2024 /PRNewswire/ — Doo Group is proud to announce that Doo Financial, one of its brands, has been awarded a new license by the Cyprus Securities and Exchange Commission (CySEC). This achievement strengthens Doo Group’s commitment to providing a secure and regulated trading environment for its clients globally.

Expanding Regulatory Reach

The addition of the CySEC license highlights Doo Group’s extensive regulatory framework, which already spans across multiple financial jurisdictions, including the United Kingdom, Australia, Hong Kong and Malaysia. This strategic milestone reflects Doo Group’s dedication to ensuring compliance with international regulatory standards and prioritizing client security. As a European Supervisory Authority, CySEC offers a robust regulatory environment and is expected to enhance client confidence. For Doo Group, this new regulatory milestone reinforces its reputation as a trusted, reliable financial services provider.

“Acquiring the new license from CySEC is a significant milestone for Doo Financial, marking a key step in our ongoing growth and strategic expansion. This achievement not only reinforces our commitment to maintaining the highest standards of regulatory excellence but also solidifies our position as a trusted, reliable financial institution within Europe. By aligning with CySEC’s rigorous requirements, we are better positioned to offer enhanced services to our clients, foster greater transparency, and ensure long-term stability in an increasingly complex and dynamic financial landscape.” Costas Kappai, Doo Financial EU

Strengthening Client Confidence

Doo Financial EU, the European branch of Doo Financial, is now positioned to serve clients across Europe under the guidelines of a European Supervisory Authority. European clients will benefit from CySEC’s regulatory protections, including client fund safety and transparent business practices, ensuring a secure and trustworthy trading experience. This development allows Doo Financial EU to offer its suite of financial services and trading products to a wider audience, backed by the credibility and oversight of CySEC.

By expanding its regulatory reach, Doo Group continues to strengthen its position in the global financial market, enabling clients to trade with confidence. The CySEC license is another step toward achieving Doo Group’s vision of becoming a leader in financial services.

About Doo Group

Founded in 2014 and headquartered in Singapore, Doo Group is an international financial services provider with a focus on FinTech. With operations across 10 major business lines—including Brokerage, Wealth Management, Payments, and Digital Marketing—we are dedicated to delivering comprehensive financial solutions that empower our clients to explore a better future.

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Liberty General Insurance Continues to Drive Insurance Awareness and Inclusion with ‘Suraksha ka Vaada Bima ke Saath’ Initiative Across Delhi and Punjab

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NEW DELHI, Nov. 15, 2024 /PRNewswire/ — Liberty General Insurance, one of the leading non-life insurance companies in India and the lead insurer for Delhi under the Insurance Regulatory and Development Authority of India’s (IRDAI) State Insurance Plan, is spearheading an insurance awareness initiative in Delhi. While there are no gram panchayats in Delhi, Liberty continues to drive insurance awareness through grassroots and digital outreach.

In parallel, Liberty is fulfilling its rural and social obligations by focusing on underserved areas in Punjab. This effort includes a recently initiated awareness campaign across 400 gram panchayats in Punjab to expand insurance penetration and increase accessibility in these regions.

In Delhi, Liberty continues to create awareness under ‘Suraksha ka Vaada Bima ke Saath’ initiative launched in 2023. This October Liberty began with a Door-to-Door Campaign across North-West and North East Delhi, reaching over 1600 households in Karala Village, Budh Vihar, Kanjawala Village and Begumpur, Burari, Kanhiya Nagar, Rampura, and Jahangirpuri, achieving over 25000 impressions. Over nearly a month, Liberty’s teams engaged with residents, distributing leaflets and explaining the benefits of motor and health insurance. This campaign was followed by the ‘Nukkad Natak’ (Street Play) initiative in South Delhi, targeting key neighborhoods of Sarojini Nagar, Lajpat Nagar, Nirman Vihar, Lakshmi Nagar, and Begumpur chowk market. The street plays used interactive performances to educate communities on the importance of insurance and dispel common myths. To reinforce the message, Liberty’s team also disseminated copies of the ‘Wise Ways of Insurance’ booklet—a unique resource developed to demystify insurance products and promote informed decision-making. The booklet, which is being translated into vernacular languages, is also being distributed in other states as part of Liberty’s commitment to financial literacy across India.

Complementing its on-ground efforts, Liberty General Insurance continues to leverage social media to drive targeted insurance awareness campaigns. Recognizing that widespread mobile access allows more people to connect online, Liberty reaches both rural and urban audiences, empowering individuals everywhere with the knowledge needed to make informed financial decisions.

Commenting on this awareness drive, Mr. Parag Ved, CEO & Whole-Time Director, Liberty General Insurance said, “Our ‘Suraksha ka Vaada Bima ke Saath’ campaign is an effort in line with IRDAI’s ‘Insurance for All by 2047’ vision, towards empowering communities across Delhi, Punjab, and beyond with the financial security that insurance provides. With general insurance penetration in India still at less than 1% of its GDP, there is a pressing need to educate communities and break down the barriers to understanding the importance of insurance. Liberty will ensure that its wide distribution network makes policies accessible to all, so that every citizen—no matter where they are—can access the financial safety net that insurance offers.”

“Liberty is committed to fostering a culture of financial resilience where every Indian can feel secure about their future. Together, we are building a future where insurance isn’t just a product but a promise of protection and peace of mind,Mr. Ved added.

Looking ahead, Liberty will be rolling out a transit media campaign across South Delhi in December, utilizing branded auto rickshaws to increase visibility and connect with residents in this vibrant area of the capital. By leveraging transit media, Liberty aims to bring insurance awareness into people’s daily routines, making information accessible in familiar, everyday settings. This campaign builds on the success of previous awareness initiatives and reinforces Liberty’s commitment to educating and empowering individuals about insurance.

About Liberty General Insurance

Liberty General Insurance Ltd. (LGI) is a joint venture between Summit Asia Investment Holdings PTE Ltd.— a group company of Liberty Mutual Insurance Group, a diversified global insurer with over 900 offices across the world, headquartered in the U.S., Enam Securities, and Diamond Dealtrade. LGI commenced operations in 2013 with the aim of providing comprehensive retail, commercial and industrial insurance solutions. The company has an employee strength of 1100+ with presence across 100+ locations in 28 states and UTs. Its partner network consists of about 6000+ hospitals and more than 5000 auto service centres. The company offers health and personal accident insurance, car and two-wheeler insurance, employee compensation insurance, commercial insurance, engineering insurance, marine insurance, liability insurance and property insurance among other products in India.

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Hikvision unveils WonderHub and elevates smart collaboration across industries

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HANGZHOU, China, Nov. 15, 2024 /CNW/ — Hikvision unveiled its fully upgraded smart collaboration business. The event showcased a range of innovative products designed to transform collaboration in education, meetings, retail, and more. Among the highlights were cutting-edge solutions like WonderHub interactive displays, digital signage, and video conference devices. These products underscore Hikvision’s commitment to driving digital transformation and enhancing user experiences in an increasingly connected world.

At the heart of this ecosystem is WonderHub, which features WonderOS, an AI-powered platform that seamlessly connects devices and enhances collaboration. With tools like WonderSpark for interactive whiteboards and WonderCast for wireless content sharing, WonderHub enables users to communicate, create, and collaborate more effectively than ever.

Boosting Classroom Engagement with Innovative Solutions

In education, WonderHub is designed to elevate classroom experiences. The interactive displays enable students to share and express ideas effortlessly, creating a more engaging and dynamic learning environment. The built-in WonderSpark smart whiteboard software uses AI to recognize equations, provide solutions, and generate interactive 3D teaching materials across subjects like mathematics, chemistry, and natural sciences. Teachers can also access licensed images and videos through Creative Commons integration, enriching lesson content and boosting student engagement.

Classrooms equipped with WonderHub also benefit from multi-window modes and a suite of 19 educational tools. These include subject-specific templates and interactive applications. For remote learning, WonderHub integrates seamlessly with third-party conferencing platforms, allowing students to collaborate in real-time, no matter their location.

Empowering Business Meetings with Intelligent Features

Hikvision’s smart collaboration solutions transform business meetings into more efficient and immersive experiences. The WonderHub Ultra Series allows users to easily connect personal devices and leverage the interactive display’s camera, speakers, and microphone for high-quality remote conferencing. The HiSpire meeting management system streamlines meeting logistics, including room scheduling, attendee notifications, post-meeting summaries, and distribution of materials.

Advanced AI features, such as auto-framing and speaker tracking, ensure optimal video quality. Meanwhile, app-free screen casting allows for easy sharing of presentation materials. The X12 and X28 audio-video cameras offer enterprises tailored setups to suit meeting rooms of any size, ensuring seamless communication with high-definition video and precise audio capture.

Transforming Retail Spaces with Dynamic Digital Signage

Hikvision has also advanced its digital signage solutions to enhance customer engagement in retail scenarios. The vibrant displays and centralized content management allow retailers to effectively capture attention. High-brightness window displays attract passersby with promotions and new product highlights. Meanwhile, floor-standing signage supports interactive features, such as self-service ordering. The HikCentral FocSign platform enables retailers to remotely manage and distribute content across multiple locations, improving operational efficiency and ensuring consistent branding.

These digital signage solutions, including the DP and DL series, boast superior brightness and clarity, ensuring visibility even in strong lighting conditions. The displays run on Hikvision’s self-developed platform and support WonderCast wireless casting, enabling quick and easy content sharing from various devices.

Since entering the smart collaboration market in 2017, Hikvision has rapidly become a leading global player. With over 300,000 units sold across more than 140 countries and regions, Hikvision’s smart collaboration business exemplifies the company’s commitment to innovation, quality, and user-centric design. As a key highlight of this evolution, the fully upgraded WonderHub represents the next leap forward in smart collaboration technology.

By bridging advanced technology with practical applications, WonderHub, along with Hikvision’s broader range of smart collaboration solutions, is leading the way in providing more efficient and intelligent solutions for users worldwide.

For more information about Hikvision’s smart collaboration products and solutions, please visit Hikvision’s official website.

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