Tie-down Strap Market Size, Share, Growth, and Industry Analysis, By Type (Cam Straps, Over-Center Lever Cam Style Straps, Ratchet Straps and Others), By Application (Aircraft Transportation, Land Transportation, Individual and Others), Regional Insights, and Forecast To 2031

Updated On: 20 November 2023

Tie-down Strap Market Report Overview

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global tie-down strap market size was USD 166.5 million in 2022 and market is projected to touch USD 269.48 million by 2031 at CAGR 5.5%.

A tie-down strap is a long-lasting load fastening device used to secure goods or machinery to the top of a truck, trailer, flatbed vehicle, or other mode of transportation. A standard tie-down is made up of an anchor point, such as a D ring, on one end and an adjustable loop in the webbing on the other. The major reason for utilizing these straps is to keep objects secure while being transported. They keep things from shifting while being transported by generating adequate tension between them so that no articles fall through when travelling over difficult terrain or terrible roads. Tie-downs also assist in reducing damage caused by unexpected braking or accidents by keeping things securely fastened inside their containers/vehicle bodies, preventing them from flying around violently during movement.

COVID-19 Impact: The COVID-19 Underlying Condition Disrupted the Market Growth

The spread of covid-19 across areas has resulted in city lockdowns, border restrictions, and transport network breakdowns. This had a substantial influence on the global chemical supply chain, international trade, and manufacturing processes. Factory closures hampered the manufacture of tie-down straps, and transportation constraints hampered product demand. With the lifting of the lockdown, however, the market recovered pace and is predicted to rise at a solid rate during the review period.

LATEST TRENDS

"The Growing Aviation Industry and Product Innovation to Attract the Market Share"

Growing need for commercial cargo jets for transportation is projected to feed demand for tie-down straps to rigorously anchor air-cargo ULDs during transport on the ramp to protect the safety of cargo, aircraft, the general public, and aircrew. The application in aircraft transportation can be divided into two categories: cargo and passengers. The first category involves the necessity to transport luggage, while the second is utilized to store a passenger's possessions on board. Tie-down straps are used to secure aero planes while they are in transportation, both loading and unloading. Tie-downs can be installed on the nose of an aero plane or the wing, depending on where they will be seated once loaded onto the plane. Market companies' increasing attention on the creation of innovative goods is expected to propel market expansion significantly.

Tie-down Strap Market Segmentation

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• By Type

Based on type the tie-down strap market is classified as cam straps, over-center lever cam style straps, ratchet straps and others.

• By Application

Based on application the tie-down strap market is classified as aircraft transportation, land transportation, individual and others.

DRIVING FACTORS

"The Rising Utilization in Land Transportation to Boost Up the Market Share"

Tie-down straps are employed in inland transportation for a variety of reasons, including cargo security and protection from falling off. Cargo tie-down is used to keep the load securely secured while being transported by truck or other means. The straps can also be used to secure vehicles on trailers when they are being towed behind other motorized vehicles like trucks or cars. This protects the vehicle from unexpected movement by ensuring that nothing falls off accidental during transit.

"The Leading Cost Effective Camp Straps to Dominate and Power Up the Market Growth"

Cam straps, over-centre lever cam style straps, and ratchet straps are the market segments. Cam straps are predicted to increase the most throughout the forecast period due to their low production costs when compared to other types of tie-down straps such as ratchet or over-centre lever cam style straps, which are more expensive than cam straps. Cam straps are one of the most commonly used straps. They have great tensioning capabilities as well as adaptability. It can be used for a variety of purposes, including but not limited to securing items while in transit, preventing theft or damage during storage, transporting equipment (e.g., wheelchairs) that cannot fit into a car trunk, and moving furniture from indoors to outside or vice versa.

RESTRAINING FACTORS

"The Mandatory Damage Check-ups in Every Round to Restrain the Market Growth"

It is always necessary to inspect all of your hauling and tie-down equipment on a regular basis for damage surrounding or on the webbing of the car tyre straps for cuts, stretching or mould. Check the metal of your hooks and ratchets for any faults or damages, as these might damage both your tyre straps and the vehicle you are hauling at the time. Replace any and all car transporter straps or equipment as soon as you see any damages or dangers; it is preferable to spend the money on replacements rather than having to pay for any damages caused to your cargo or on the roads. These concerns are expected to impede the market's tie-down strap market growth over the projected period.

Tie-down Strap Market Regional Insights

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"The Asia Pacific region to Lead the Market With Rising Demand and Investment"

The demand is increasing in Asia-Pacific emerging nations due to rapid development and expanding investment in transportation. The market in the Asia Pacific Region is expected to grow primarily because to increased demand from end-users for safer transportation methods that use dependable strapping systems that may provide greater safety and protection measures. In terms of the global share the tie-down straps market, Asia Pacific led in 2018, and it is expected to continue to lead over the forecast period. This is related to the growing industrialization of developing countries, particularly India and China. Over the course of the forecast period in Asia Pacific, these factors are anticipated to propel expansion of the global tie-down strap market share.

KEY INDUSTRY PLAYERS

"Prominent Manufacturers to Contribute Towards Expansion of Market"

The report is an extensive research which presents the historic and futuristic performance of industry with competitive landscape analysis which incorporates prominent key players, and revenue trends of industry. The report provides substantial analysis of company profiling, growth insights, supply-demand chain, production and consumption demand, business expansion strategies adopted by top key players. The information is a collusion of latest technological developments, trends, production lines mergers and acquisitions, market study and other factors.

List of Market Players Profiled

• Hampton Products International Corporation (Keeper Products) (U.S.A)
• Everest Group Corp (U.S.A)
• Nite Ize Inc (U.S.A)
• Erickson B Manufacturing Ltd (Canada)
• Horizon Global Corporation (U.S.A)
• Ancra International LLC (U.S.A)
• Taurus International Co., Ltd (China)
• Shock Strap (U.S.A)
• WINSTON PRODUCTS, LLC (U.S.A)
• Quickloader (Finland)
• Dolezych GmbH & Co. KG (Germany)
• CTS Cargo Tie-Down (Canada).

REPORT COVERAGE

The report anticipates a detailed analysis of the global market size at the regional and national level, the segmentation market growth and market share. The prime objective of the report is to help user understand the market in terms of definition, market potential, influencing trends, and the challenges faced by the market. Analysis of sales, the impact of the market players, recent developments, opportunity analysis, strategic market growth analysis, territorial market expansion, and technological innovations are the subject matter explained in the report.