Stainless-Steel Cable Ties Market Size Analysis and Demand with Forecast Overvie
Posted by Rishab Gupta on January 20th, 2020
As per the latest study conducted by Market Research Future (MRFR), the global market for Stainless-Steel Cable Ties Market will witness a CAGR of 3.12%. The market currently stands at over 124,000 thousand tons. Demand for stainless-steel cable ties has grown consistently in recent years. Advances in engineering designs has paved the way for cable ties.
Over the years, demand for cable ties have increased among various large-scale industrial verticals. Industries such as transportation, construction and oil & gas have emerged as major consumers of cable tire.
Competition Tracking of Top Key Players
The innate nature of stainless-steel makes it an apt raw material for making cable ties. In some engineering designs, cable ties play a pivotal role, influencing the overall operational capability of the object. So, they need to be highly efficient and robust. They are used for zipping wires in locomotives, trucks, cars and motorcycles. At the same time, their application has also increased chemical, mining etc. Wiring is a necessity is most of the verticals mentioned above where stainless-steel cable ties are used for tying wires. Such cable ties ensure that wires remain in place even during sudden movements or bumps. Also, it is important for wires to stay at their denoted position for avoiding accidents and hazards, especially is places such as refineries and oil rigs.
Rapid industrialization and urbanization in emerging economies is also providing an impetus to the global market for stainless-steel cable ties. Owing to their high durability and dexterity, cable ties will continue to cater a large number of industrial domains in the forthcoming years.
The report includes a thorough segmental analysis of the market on the basis of application, type and region. By application, the market has been segmented into coated stainless-steel cable ties and uncoated stainless-steel cables ties. The later currently accounts for more than 56% share of market. In 2017, the segment stood at a valuation of over USD 101,500 thousand. The segment is expected to remain highly lucrative throughout the assessment period.
The price of uncoated variant is lower compared to coated variant, which is primary reason behind the difference between market size of both the segments. However, the coated stainless-steel cable ties segment is projected to exhibit a comparatively higher CAGR during the assessment period. By application, the market has bees segmented into marine, chemicals, mining, construction, oil & gas exploration, transportation, electronics and others.
The transportation segment currently accounts for close to one-third market share and expected to witness 3.42% CAGR till 2023. In addition, the segment is likely to surpass a valuation of USD 78,900 thousand by the end of the assessment period. More than 43,588 thousand units stainless-steel cable ties were consumed in 2017. In transportation, cable ties find fastening and fixing applications. The marine segment is expected to hold second spot throughout the forecast period.
The market has been covered across regions such as Europe, Latin America, the Middle East & Africa (MEA), North America and Asia Pacific (APAC). APAC is expected stay at the forefront of the global stainless-steel cable ties market during the forecast period. The region currently accounts for over 40% market share. In 2017, the APAC stainless-steel cable ties market reached a valuation in excess of USD 74,100 thousand. In APAC, emerging economies such as China and India are expected to remain important investment destinations for market players.
Get Complete Report Details @ https://www.marketresearchfuture.com/reports/stainless-steel-cable-ties-market-7008
Table Of Figures
FIGURE 1 GLOBAL STAINLESS-STEEL CABLE TIES MARKET: MARKET STRUCTURE 19
FIGURE 2 GLOBAL STAINLESS-STEEL CABLE TIES MARKET SHARE, BY REGION (2017 VS 2023) 21
FIGURE 3 NORTH AMERICA MARKET SIZE & MARKET SHARE, BY COUNTRY (2017 VS 2023) 22
FIGURE 4 EUROPE MARKET SIZE & MARKET SHARE, BY COUNTRY (2017 VS 2023) 22
FIGURE 5 ASIA-PACIFIC MARKET SIZE & MARKET SHARE, BY COUNTRY (2017 VS 2023) 23
FIGURE 6 LATIN AMERICA MARKET SIZE & MARKET SHARE, BY COUNTRY (2017 VS 2023) 23
FIGURE 7 MIDDLE EAST & AFRICA MARKET SIZE & MARKET SHARE, BY COUNTRY (2017 VS 2023) 24
FIGURE 8 RESEARCH PROCESS OF MRFR 26
FIGURE 9 TOP-DOWN & BOTTOM-UP APPROACHES 29
FIGURE 10 MARKET DYNAMICS OVERVIEW 31
FIGURE 11 GLOBAL AUTOMOBILE PRODUCTION, BY REGION, 2017 33
FIGURE 12 DRIVERS IMPACT ANALYSIS 33
FIGURE 13 RESTRAINT IMPACT ANALYSIS 34
FIGURE 14 SUPPLY CHAIN ANALYSIS OF THE GLOBAL STAINLESS-STEEL CABLE TIES MARKET 37
FIGURE 15 PORTER’S FIVE FORCES ANALYSIS OF THE GLOBAL STAINLESS-STEEL CABLE TIES MARKET 38
FIGURE 16 GLOBAL STAINLESS-STEEL CABLE TIES MARKET, BY TYPE, 2016-2023 (USD THOUSAND) 41
FIGURE 17 GLOBAL STAINLESS-STEEL CABLE TIES MARKET, BY TYPE, 2016-2023 (THOUSAND UNITS) 42
FIGURE 18 GLOBAL STAINLESS-STEEL CABLE TIES MARKET, BY APPLICATION, 2016-2023 (USD THOUSAND) 47
FIGURE 19 GLOBAL STAINLESS-STEEL CABLE TIES MARKET, BY APPLICATION, 2016-2023 (THOUSAND UNITS) 48
FIGURE 20 GLOBAL STAINLESS-STEEL CABLE TIES MARKET BY REGION, 2016-2023 (USD THOUSAND) 58
FIGURE 21 GLOBAL STAINLESS-STEEL CABLE TIES MARKET BY REGION, 2016-2023 (THOUSAND UNITS) 59
FIGURE 22 GLOBAL STAINLESS-STEEL CABLE TIES MARKET, BY REGION: IMPACT ANALYSIS OF MARKET TRENDS 152
FIGURE 23 GLOBAL STAINLESS-STEEL CABLE TIES MARKET, BY REGION, 2017 (% SHARE) 153
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About the AuthorRishab Gupta
Joined: November 25th, 2019
Articles Posted: 303
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