The global cable tie market is estimated to witness optimistic growth during the forecast period. Rapid industrialization across emerging countries is primarily encouraging the market growth. The growth in industrialization has witnessed in the emerging countries coupled with the increasing government initiatives to promote industrialization and the growing presence of multinationals in the country. For instance, made in China (MIC) 2025 is a Chinese government initiative which was introduced in May 2015. The initiative includes a series of ambitious state-backed programs launched by the government of China. This is intended to modernize the Chinese economy, leverage productivity and make innovations that are a major driver for the country’s economic growth.
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Moreover, the Government of India introduced Make in India initiative to foster the investment and improve the manufacturing practices in the country. This initiative is aimed at transforming India into a manufacturing hub. As a result, the government is focusing in increasing foreign direct investment (FDI) and India’s GDP share from the manufacturing sector. To make India an attractive investment destination is the goal of Make in India program and the progress in this context has been witnessed over the years. For instance, as per International Brand Equity Foundation (IBEF), Andhra Pradesh (an Indian State) has attracted Foreign Direct Investment (FDI) equity inflows worth $18.5 billion during the period April 2000 to March 2019.
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Cable ties have a significant role in the manufacturing industry, owing to its flexibility, functionality and durability properties. Some industries such as pharmaceutical and food production companies require a lot of packing and shipping which may go through metal detectors and scanners to look for contraband, primarily during shipping out of the country.
The major players in the market include 3M Co., ABB Ltd., Advanced Cable Ties, Inc., Panduit Corp., and HellermannTyton Pvt. Ltd. Mergers and acquisitions, partnerships and collaborations and product launches are crucial strategies adopted by the market players to expand market share and gain competitive advantage. For instance, in October 2017, Advanced Cable Ties, Inc. launched NYLON 12 Cable Ties, which is molecularly designed to withstand corrosive outdoor elements and UV rays.
Global Cable Tie Market- Segmentation
By Application
- Electronics and Electricals
- Automobile
- Consumer Goods
- Construction
- Others (Agriculture)
By Product
- Releasable
- Non-Releasable
- Beaded
- Push Mount
- Mounting holes
- Identification
- Heat Stabilized
- Others (Reusable and UV Resistant)
By Material
- Nylon
- Metal
- Others (Fluoropolymer)
Global Cable Tie Market- Regions
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
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(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
