Global Cable Tie Market: Overview

Cable ties have to be able to meet the most diverse demands these days as they are used in the widest range of operations – from the simple bundling of cables with cable ties to the unconditionally specific use of cable ties under extreme conditions. Cable ties are known by many different names counting zip tie, wire tie, zipper tie, wire wrap, hose tie, rat belt, and mouse belt

Cable Ties are sturdy having a Nylon tape with an integrated gear rack on one end a ratchet within a small open case it is an economical and versatile method of Cable/Wire bunching systems, etc. Cable ties are known by numerous names e.g. non-releasable or releasable tags, straps, zip ties, tie wrap, rat belt etc. and produced & sold in different sizes as per requirement of the customers to Customer. Cable ties are a one piece molded mechanism with no metal barbs or burdensome wedges having fastening & self-locking device. The variety of cable ties are added by noticeable cable ties with metal components for the food industry or dual fastener cable ties for the similar guiding of cables and leads in the automotive industry.

Cable ties are simply available with wide variety of products due to the modest industrial process and require comparatively smaller investments to set-up production units. Moreover, there are limited entry obstacles for new entrants, as a result, local manufacturers are dominant across the globe. The market for cable ties are motivated by durable and lightweight materials in demand. Upsurge in demand from the developing economies, increase in production and demand electronics and automobiles across the country. Apart from the advantages of the cable tie there are disadvantages like the environmental concerns related to the disposal of the plastic products, and the varying crude global crude oil price impacts the overall cable and tie market.

Global Cable Tie Market: Key Segments

The cable tie market is segmented in seven broad categories which are releasable cable tie, Non- releasable cable tie, and Beaded cable tie, push mount cable tie, rising hole cable tie, identification cable tie, and heat stabilized cable tie.

Volatility in raw material prices and high competition in the market are expected to affect profit margins of the manufacturers. Cable tie manufacturers are expected to enlarge geographical reach in order to get hold of consumers from niche markets and decrease their dependency on the third-party suppliers. Numerous regional cable ties vendors are offering modified solutions at lesser prices than international vendors for growing their presence in the world cable ties industry. The new vendors are entering the cable ties market, they find it difficult to compete with the international cable ties vendors based on factors such as quality, features, functionalities, and services.

Based on region, the global cable tie market can be classified into North America, Latin America, Europe, Middle East & Africa, and Asia Pacific. Asia Pacific is expected to dominate the global cable tie market during the forecast period followed by North America, holds major share of the global cable tie market in terms of value. Europe and the North America together constitute more than 50% of the total cable tie market share. The market in Middle East & Africa, followed by that in Latin America, is slated to witness significant growth during the forecast period.

A few countries in Asia Pacific region are inclined toward implementation of environment developments, construction works and Industrial development.  This is likely to augment the demand for cable tie market in the next few years. Thus, emerging and developed nations are expected to gain significant share of the cable tie market in the next few years. Additionally, sales of cable tie market in Asia Pacific and Middle East & Africa are projected to increase significantly in the near future.

Global Cable Tie Market: Key Players

Key players operating in the global cable tie market are 3M, ACT Fastening Solutions Bay State Cable Ties, Bontley Electric, Acme Seals Group of Companies, Avery Dennison, Brand IT-IDEX Inc., Helllarmanntyton Ltd., Novoflex Marketing Pvt. Ltd., Panduit Corporations, Partex Marking Systems, Rs Components, Sapiselco, Surelock, and Thomas & Betts Corporation. 

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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