The reels and spools market will register a CAGR of over 4% by 2023
NEW YORK, April 23, 2019 /PRNewswire/ --
About this market
The increasing popularity of fiber optics networks in developing countries will trigger the reels and spools market growth during the forecast period. Several countries in the developing regions are using antennas with normal insulated pair wires for connecting television channels. Furthermore, emerging economies including China are launching digital broadcasting plan or initiatives to stop analog broadcasts altogether by 2020. This will further create a significant demand for storage and transportation purposes, thus, driving the reels and spools market growth during the forecast period. Analysts have predicted that the reels and spools market will register a CAGR of over 4% by 2023.
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Market Overview
Increasing popularity of fiber optics networks in developing economies
One of the growth drivers of the global reels and spools market is the increasing popularity of fiber optics networks in developing economies. The growing use of digital cables will lead to strong demand for reels from the telecommunications and entertainment industries, thus driving market growth.
Volatility in raw material prices
One of the challenges in the growth of the global reels and spools market is the volatility in raw material prices. With the increase in raw material prices, manufacturers can transfer the additional cost to end-users which will hinder the growth of the market.
For the detailed list of factors that will drive and challenge the growth of the reels and spools market during 019-2023, view our report.
Competitive Landscape
The market appears to be moderately fragmented with the presence of several market players. Vendors are focusing on developing new products using innovative technologies and investing strongly in R&D as well to cater to customer needs and to reduce overall weight. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market's competitive landscape and offering information on the products offered by companies.
Read the full report: https://www.reportlinker.com/p05724794/?utm_source=PRN
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