The global tie-down strap market is anticipated to grow at a CAGR of 5.0% during the forecast period (2022- 2028). A tie-down strap also known as a ratchet strap or lashing strap is a fastener used to hold down cargo or equipment during transport. Tie-down straps are essentially strong woven fabric that is outfitted with tie-down hardware. This hardware allows the tie-down strap to attach to the area surrounding the cargo or equipment, loop over the cargo or equipment, or attach to the cargo or equipment. The purpose of using these straps is to keep items secure during transport. They prevent goods from shifting while being transported over rough terrain or bad roads. Tie-down straps supports to reduce damages caused due to sudden brakes or accidents by keeping items secure attached to containers that prevent them from flying around during movement. These are some major driving factors for the growth of the global tie-down strap market.
The market is segmented based on the type and application. Based on the type, the market is segmented into cam straps, over-center lever cam style straps, and ratchet straps. Cam straps are the most popular tie-down straps used in various applications as they provide high tensioning capabilities and versatility, also not limited to securing cargo while in transit. It also protect against theft or damage during storage. Over center lever, cam-style straps have a bolt that slides through the buckle opening and up into gloves in the cam. They are available in different widths and lengths and are used for heavy-duty applications. Ratchet straps are useful for securing items to the vehicle, keeping both the vehicle and cargo damage-free. They can be used for tying down boxes to a trailer, and fastening luggage onto a roof rack.
Some major players in the market include Horizon Global, Keeper Security Inc., and Quickloader, among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, new product launches, and collaborations, to stay competitive in the market. For instance, in April 2021, Omega strap launched the first world’s ratchet strap with three key features as control knob, the flex- hook, and the elastic loop.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Horizon Global, Keeper Security Inc., and Quickloader, among others.
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Global Tie Down Strap Market Report by Segment
By Type
- Cam Straps
- Over-Center Lever Cam Style Straps
- Ratchet Straps
By Application
- Aircraft Transportation
- Land Transportation
- Individual
- Others
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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