Global Tie Gun Market 2017-2021
About Tie Gun
A tie gun is a type of fastener tool used to hold items together. It tightens the cable ties and tears off the unused portion of ties with the help of predetermined tension applied to the knob of the tie gun. Also, when tearing off the excess cable tie, the tie gun ensures that it does not result in a sharp end, thus preventing injuries to the user. The basic types of tie guns consist of automatic, manual, and pneumatic tie guns used in several types of cable ties, which include nylon, stainless steel, and velcro cable ties.
Technavio’s analysts forecast the global tie gun market to grow at a CAGR of 3.14% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global tie gun market for 2017-2021. To calculate the market size, the report considers the revenue generated by different vendors through the sales of several types of tie guns, which include automatic, manual, and pneumatic tie guns.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Tie Gun Market 2017-2021
Technavio recognizes the following companies as the key players in the global tie gun market: Apex Tool Group (ATG), Eastwood, Greenlee, and Panduit.
Other Prominent Vendors in the market are: Avery Dennison, Electriduct, Elenco Electronics, FACOM, Gardner Bender, HellermannTyton, Nelco Products, Thomas & Betts, Yueqing Highsail Electric, and Yueqing Xuankang Electric.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increasing demand for hand tools and power tools. The global tie gun market is growing because of an increasing demand for hand tools and power tools. This is because tie guns can be used as hand tools as well as power tools in industries. The global hand tools market generated a revenue of more than $9 billion in 2016 and will grow at a CAGR of more than 7% during the forecast period.”
According to the report, one driver in the market is increasing demand for metal detectable cable ties. The global tie gun market is growing because of an increasing demand for metal-detectable cable ties. These cable ties are primarily used in industries like food and beverage and pharmaceuticals. The products manufactured in these industries are sealed with metal detectable cable ties, which prevent the goods from being contaminated. The global pharmaceutical industry is expected to grow at a rate of more than 5% during the forecast period.
Further, the report states that one challenge in the market is problems related to maintaining the tensile strength of cable ties. The tensile strength of a cable tie determines its resistance to breaking under tension. It is critical for cable tie manufacturers to maintain the minimum tensile strength of a cable tie to avoid breakage under tension. The Military Standards and Specification of the US states the criteria used to achieve standardization objectives for cable ties. These standards list the following steps to maintain the tensile strength of a cable tie at an optimum level.
Apex Tool Group (ATG), Eastwood, Greenlee, Panduit, Avery Dennison, Electriduct, Elenco Electronics, FACOM, Gardner Bender, HellermannTyton, Nelco Products, Thomas & Betts, Yueqing Highsail Electric, and Yueqing Xuankang Electric.
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