LONDON--(BUSINESS WIRE)--The reels and spools market size is expected to grow by USD 494.8 million during 2019-2023, according to the latest market research report by Technavio. Request a free sample report
With the increase in the volume of data generated in various industries, the demand for data centers is growing at an unprecedented rate. Companies like Apple, Microsoft, and Facebook are rigorously investing in the development of their own data centers. The growth of the global data center market is expected to increase the demand for reels at data centers to wind the optical fiber cables used in the day-to-day operations.
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As per Technavio, the availability of 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 research report also analyzes other significant trends and market drivers that will affect market growth over 2019-2023.
Reels and Spools Market: Availability of Recycling Services for Reels and Spools
The disposal of reels and spools in landfills can harm the environment. Moreover, the disposal process involves high operating costs in terms of labor and energy. Therefore, some of the vendors in the market are providing reels and spool recycling services to solve the issues faced by the end-users of reels and pools concerning their disposal. For instance, Sonoco Products offers recycling services for wooden reels or poly-fiber reels and spools. Thus, the availability of recycling services for reels and spools will fuel the growth of the market during the forecast period.
“Emergence of REELEX technology and the increasing number of technological advancements will have a significant impact on the growth of the reels and spools market value during the forecast period,” says a senior analyst at Technavio.
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Reels and Spools Market: Segmentation Analysis
This market research report segments the reels and spools market by product (reels and spools) and geography (APAC, Europe, MEA, North America, and South America).
The APAC region led the market in 2018, followed by North America, Europe, MEA, and South America, respectively. The growth of the reels and spools market share in APAC can be attributed to several factors, such as the strong demand from emerging economies, rapidly growing end-user industries, and competitive manufacturing costs.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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