About this market
Recycling services for reels and spools to emerge as a major trend in the market. Reels are made from hard materials and have a diameter range of around 3.5 meters. Generally, the end-users of reels and spools are responsible for their disposal. The disposal of reels and spools by end-users increases their operating costs about labor and energy. Therefore, with the aim of solving the issues faced by the end-users of reels and pools about their disposal, a few vendors in the market are providing reels and spools recycling services. Besides reels and spools manufacturers, end-users are also taking up recycling initiatives to ensure sustainability in their business operations. The analysts have predicted that the reels and spools market will register a CAGR of about 7% by 2023.
Market Overview
Rising use of fiber optics
The adoption of fiber optic cables aids in the prevention of radio frequency radiation and electromagnetic interference more effectively than coaxial cables, thereby providing extremely reliable data transmission.
Growth in wireless technology
The growth in wireless technology is expected to have a negative impact on the demand for reels, which are used to store and transport cables such as fiber optic cables, coaxial cables, and ethernet cables.
For the detailed list of factors that will drive and challenge the growth of the reels and spools market during the 2019-2023, view our report.
Competitive Landscape
The market appears to be fragmented and with the presence of several companies including BOFFI and Boxy the competitive environment is quite intense. Factors such as the rising adoption of fiber optic cables and the recycling services for reels and spools, will provide considerable growth opportunities to reels and spools manufactures. BOFFI, Boxy, Carris Reels, Pentre Group, and Sonoco Products Company are some of the major companies covered in this report.