Tie Down Straps Market Report
The report on the Global Tie-Down Straps Market is segmented by Type (Loop straps, Two-piece straps), Application (Aircraft Transportation, Land Transportation, Individual, Other), and Region. It also covers the COVID-19 Impact Analysis and Forecast to 2026. This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global Tie-Down Straps market. The historic years considered for the study are 2016-2019, the base year is 2020, the estimated year is 2021, and the forecast period is 2022-2026.
The report on the Global Tie-Down Straps Market is segmented by Type (Loop straps, Two-piece straps), Application (Aircraft Transportation, Land Transportation, Individual, Other), and Region. It also covers the COVID-19 Impact A...
Impact of COVID-19 on Tie Down Straps Market
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
The Global Tie-Down Straps Market is expected to grow from USD xx million in 2020 to USD xx million by 2026 at a CAGR of over x % during the forecast period.
Figure: Global Tie-Down Straps Market Size, 2020-2026 (USD Million)
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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.
Key players operating in the global Tie-Down Straps Market are-
The growth of the global tie-down straps market is primarily driven by its widespread usage in the transportation industry.
Based on type, the market has been segmented into loop straps and two-piece straps.
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.
The outbreak of covid-19 across regions has resulted in the lockdown of cities, border restrictions, and breakdown of transportation networks. This caused a significant impact on the chemicals supply chain, international trade, and manufacturing operations across the world.
The closure of factories affected the manufacturing of the tie-down straps and transportation restriction affected the product demand negatively. However, with the lift of lockdown, the market growth gained momentum and is expected to grow at a healthy rate during the review period.
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The following is a list of the customers that the Global Tie-down strap market aims to convert the most:
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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) and CTS Cargo Tie-Down (Canada) are among the key players in the tie-down straps market.
North America accounted for the largest share of the tie-down straps market in 2020.
Growing aviation industry with increasing demand for commercial cargo jets for transportation, growing emphasis on the development of innovative products by the market players are the factors driving the growth of tie-down straps market.
Tie-down straps manufacturers, Tie-down straps suppliers, Tie-down straps distributors, Organizations, Government bodies are the target audience in the tie-down straps market.