LONDON--(BUSINESS WIRE)--The global reels and spools market is expected to post a CAGR of over 4% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the rising data center construction activities. The substantial increase in data volumes is driving the demand for data centers as the emergence of technologies necessitates the establishment of more data center facilities globally. The popularity of social media and the loT has enhanced the need for data centers to store and process information accurately and with fast retrieval times. Data centers include infrastructures such as storage and servers along with networks that connect physical infrastructure and web-based interfaces. Moreover, companies are looking for modern design techniques to develop these facilities and enable users access to more scalable, reliable, and efficient storage solutions. The growth of the global data center market is expected to ramp up demand for reels for storing and transporting cables used in data center construction and maintenance operations, thereby driving the growth of the global reels and spools market.
As per Technavio, the recycling services for reels and spools will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global reels and spools market research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global reels and spools market: Recycling services for reels and spools
Reels and spools are made using hard materials such as plastics, wood, or steel. However, the disposal process involves high operating costs in terms of labor and energy. In the case of wooden reels, end-users usually break them down and burn or dispose them in landfills, which can adversely impact the environment. End-users of reels and spools must also pay a landfill fee to local regulatory bodies if they want to dispose used reels in landfills. Therefore, with the aim of resolving the issues faced by end-users regarding disposal, a few market vendors have begun offering reel and spool recycling services. Several vendors offer recycling services for wooden reels or poly fiber reels and spools. They also provide pickup for used reels and spools from an end-user's facility. Besides reels and spools manufacturers, end-users are also taking up recycling initiatives to ensure the sustainability of their business operations. Therefore, such initiatives by market vendors and suppliers help reduce procurement costs of raw materials and make reels and spools reusable.
“Apart from the recycling of reels and spools, the growth of the textile market, the increasing popularity of fiber optics networks in developing countries, the rise in number of power plants, and the increasing number of technological advancements are some other major aspects that are expected to boost the growth of the global reels and spools market during the forecast period,” says a senior analyst at Technavio.
Global reels and spools market: Segmentation analysis
This market research report segments the global reels and spools market by products (reels and spools), and geographical regions (APAC, North America, Europe, MEA, and South America).
The APAC region led the market in 2018, followed by North America, Europe, MEA, and South America, respectively. During the forecast period, the APAC region is expected to continue dominating the global market as well as register the highest incremental growth due to the growth of various industries such as construction, textile, and marine industries.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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