Tie Gun Market: Introduction
- A tie gun, commonly called cable tie gun, is mainly used in cable fastening. A fastening tool allows waste-free binding of cable bundles at different diameters. The three major types of tie guns include pneumatic gun, manual gun, and automatic gun. Pneumatic tie gun is characterized by its high bundling speed and is primarily used on plastic cable assembly and wiring harness assembly lines. Manual tie guns are widely preferred to process stainless steel and plastic cable ties.
Key Drivers of the Global Tie Gun Market
- Modernization of electrical and electronic installation is identified as a key driver of the global tie gun market. Cable and wire bundling is an important part of current electrical and electronic fittings. Professionals are looking for economical and genuine cable tie tools for reliable execution of harnessing and bundling projects. Furthermore, OEMs in the automotive and consumer electronics industry are investing in automated tie guns for large volume cable tying requirements.
- Automotive electrification involves large volume wiring and cables that carries extreme voltages, which need seamless integration into the automotive assembly line for safety, neatness, and low weight impact. Furthermore, the electric vehicle industry is required to meet various industry standards regarding cable management and installation.
Rising Demand for IoT Devices and Wearable Offers Significant Opportunities for Tie Guns
- Consumer preference for IoT devices and wearable has increased significantly in recent years. Microelectronics is an integral part of these devices and enables manufacturers to design smaller and flexible solutions as per evolving consumer needs. Many new companies are foraying into microelectronics design and development to grab the opportunities in the emerging industry. This, in turn, is expected to offer significant opportunities to tie gun manufacturers during the forecast period.
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COVID-19 Pandemic Impact on the Global Tie Gun Market
The complete or partial lockdown of end-use industries including automotive, electronics, and electrical installation, caused sharp reduction in tie gun demand. Interruption in the global supply chain, reduced industrial activities and fixed investment, and slowdown of economic activities have forced companies to realign marketing and product distribution strategies.
Asia Pacific Recognized as the Key Market for Tie Guns
- By geography, the global tie gun market is classified into South America (SA), North America (NA), Europe (EU), Middle East & Africa (MEA), and Asia Pacific (APAC).
- Country-level bifurcation of the North America market includes the forecast and analysis for the U.S., Canada, and Rest of North America. The country-level analysis and forecast of the Europe market covers the tie gun market in the U.K., Germany, France, and Rest of Europe. The country-level analysis and forecast for the Asia Pacific market includes major countries in the region such as India, China, Japan, and Rest of Asia Pacific. Middle East & Africa country-level analysis and forecast for the tie gun market includes GCC countries, South Africa, and Rest of Middle East & Africa. The South America tie gun market is categorized into Brazil, and Rest of South America.
- Rising production of consumer electronics and robust advancement in the automotive industry is driving the demand for tie guns in the Asia Pacific market. China represents the largest automotive hub in the world with increasing investment in electric vehicle projects. Furthermore, national policies in the country are encouraging the penetration of Chinese companies across the global supply chain of electric vehicles.
Key Companies Operating in the Global Tie Gun Market
Key companies are focused on the development of advanced products to meet changing needs across different end-use industries. Industry participants are investing in research and development projects to design automatic tie guns with custom specifications. Furthermore, companies are signing strategic partnerships with local companies and distributors to expand the business in untapped markets.
Some of the major companies identified in the global tie gun market are:
- Apex Tool Group (ATG)
- Richco Inc.
- Anixter International Inc.
- RV Rhodes
- Malco Products, SBC
- SES-Sterling SA
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Global Tie Gun Market: Research Scope
Global Tie Gun Market, by Type
Global Tie Gun Market, by Operation Mode
Global Tie Gun Market, by Industry
- Aerospace & Defense
- Electrical Installation
- Others (Shipbuilding, etc.)
Global Tie Gun Market, by Distribution Channel
- Hardware Stores
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
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
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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.
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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?
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