The cable ties market size has grown strongly in recent years. It will grow from $1.43 billion in 2023 to $1.52 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to growth of the electrical industry, expansion of telecommunications networks, growth in population, expanding construction industry, and surging applications in the pharmaceutical processing and food and beverage sector. The cable ties market size is expected to see strong growth in the next few years. It will grow to $1.95 billion in 2028 at a CAGR of 6.4%. The growth in the forecast period can be attributed to growing demand for data centers, increase in renewable energy projects, increasing demand for cable ties for interior wiring and cable management, rising adoption of automotive and aerospace industries, and growth of sustainable and recyclable cable ties. Major trends in the forecast period include innovating to develop cable ties with improved strength, durability, and resistance to environmental factors, advances in material science, smart cable ties with integrated sensors for temperature and strain monitoring, technological advancements in cable ties, and advent of metal detachable cable ties.
Global Cable Ties Market Key Driver
The expansion of the construction industry is expected to propel the growth of the cable ties market in the coming years. The construction industry encompasses the planning, design, and construction of infrastructure, including residential, commercial, and industrial projects. Its expansion is driven by factors such as industrialization, urbanization, housing demand, sustainable practices, and demographics. Cable ties are valued for their versatility, ease of use, and ability to provide quick and practical solutions to various organizational and support challenges in construction. For instance, in November 2023, according to a report from the Office for National Statistics, a UK-based statistics authority, total new construction work output rose by 15.8% in 2022, reaching a record-breaking value of $166,236.25 million. Therefore, the expansion of the construction industry is driving growth in the cable ties market.
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Global Cable Ties Market Segments
The cable ties market covered in this report is segmented –
1) By Type: Releasable Cable Ties, Non-Releasable Cable Ties, Push Mount Cable Ties, Beaded Cable Ties, Rising Hole Cable Ties, Identification Cable Ties, Heat Stabilized Cable Ties
2) By Raw Material: Metal, Nylon, Other Raw Material
3) By End-User Industry: Electronics And Electrical, Building And Construction, Automotive, Consumer Goods, Marine, Other End-User Industry
By Geography:The regions covered in the cable ties market report areAustralia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the cable ties market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
Major Cable Ties Industry Players
3M Company, ABB Installation Products Inc., KSS Enterprise Co. Ltd., Avery Dennison Corporation, Legrand S.A., ITW Construction Products Inc., Ascend Performance Materials LLC, RS Components Ltd., HellermannTyton Corporation, Panduit Corporation, Hont Electrical Co. Ltd., BAND-IT Inc., Advanced Cable Ties Inc., Atlas Metal Industries Inc., SapiSelco S.r.l, MEGATRON Elektronik GmbH & Co. KG, Yueqing Huada Plastic Co. Ltd., AFT Fasteners Inc., Novoflex LLC, Partex Marking Systems Ltd., SureLock Technology LLC, Changhong Plastics Group, Ananta Impex Private Ltd., Rujuta Corporation
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Cable Ties Market Overview
Cable ties, also known as zip ties, are versatile fastening devices used to bundle, secure, or organize cables, wires, and other objects. They consist of a flexible plastic strap with a ratcheting mechanism and a locking head that keeps the strap in place once it’s tightened. Cable ties are widely used in residential and industrial settings for tasks such as managing electrical wiring, organizing network cables, and securing shipping items.
Cable Ties Global Market Report 2023 provides data on the global cable ties market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The cable ties market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
