Tie Down Straps Market Report

Market Insights

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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What is a Tie-down strap?

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

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), and
• CTS Cargo Tie-Down (Canada).

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.

Segment 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.

COVID-19 Impact on Global Tie-Down Straps Market

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.

Critical Questions Answered in the Report

• What are the key trends in the global tie-down straps market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on global tie-down straps market?
• What are the key strategies adopted by the major vendors to lead in the global tie-down straps market?
• What is the market share of the top vendors?

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Target Audience

The following is a list of the customers that the Global Tie-down strap market aims to convert the most:

• Tie-down straps manufacturers
• Tie-down straps suppliers
• Tie-down straps distributors
• Organizations
• Government bodies

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