Tie-Down Straps Market Growth Offers Room to Grow to Existing & Emerging Players
May 04, 2022
May 04, 2022/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Tie-Down Straps Market.
It was estimated prior to this unanticipated outbreak that the Tie-Down Straps Market is likely to witness an impressive Healthy CAGR during the forecast period. Tie-down strap, also known as ‘lashing strap’ or ‘ratchet strap’ is defined as a fastener used to hold down equipment or cargo during transport. It is a length of webbing which is tensioned and used to secure the equipment of cargo. It is available in different lengths ranging from around six feet to 40 feet for small loads and commercial trucking applications respectively.
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Market Dynamics
The growth of the global tie-down straps market is primarily driven by its widespread usage in the transportation industry.
- Growing aviation industry with increasing demand for commercial cargo jets for transportation is likely to fuel the demand for tie-down straps to rigidly anchor air cargo ULD’s during transport on the ramp to ensure the safety of cargo, aircraft, the general public, and aircrew.
- Growing emphasis on the development of innovative products by the market players is anticipated to propel market growth substantially.
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Segments' Analysis
Type Trends
Based on type, the market has been segmented into loop straps and two-piece straps.
- The loop straps have been widely used to secure the cargo or equipment during transportation. Loop strap is a single piece of webbing which is looped around the cargo or equipment and the end points are brought together at tie-down fastener.
Regional Trends
Geographically, the market in North America accounted for the largest market share in 2020 due to presence of various commercial cargo jets in the region.
The market in Asia-Pacific region is expected to increase at a significant rate on account of expanding industrialization in the developing countries particularly India and China.
Key Players:
Key players operating in the global Tie-Down Straps market are-
- Hampton Products International Corporation (Keeper Products) (The U.S),
- Everest Group Corp (The U.S),
- Nite Ize Inc (The U.S),
- Erickson B Manufacturing Ltd (Canada),
- Horizon Global Corporation (The U.S),
- Ancra International LLC (The U.S),
- Taurus International Co., Ltd (Taiwan),
- Shock Strap (The U.S),
- WINSTON PRODUCTS, LLC (The U.S),
- Quickloader (Finland),
- Dolezych GmbH & Co. KG (Germany),
- CTS Cargo Tie-Down (Canada).
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Tie-Down Straps analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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