Tie Gun Market: Introduction
- A tie gun, commonly called cable tie gun, is mainly used in cable fastening. A fastening tool allows waste-free binding of cable bundles at different diameters. The three major types of tie guns include pneumatic gun, manual gun, and automatic gun. Pneumatic tie gun is characterized by its high bundling speed and is primarily used on plastic cable assembly and wiring harness assembly lines. Manual tie guns are widely preferred to process stainless steel and plastic cable ties.
Rising Demand for IoT Devices and Wearable Offers Significant Opportunities for Tie Guns
- Consumer preference for IoT devices and wearable has increased significantly in recent years. Microelectronics is an integral part of these devices and enables manufacturers to design smaller and flexible solutions as per evolving consumer needs. Many new companies are foraying into microelectronics design and development to grab the opportunities in the emerging industry. This, in turn, is expected to offer significant opportunities to tie gun manufacturers during the forecast period.
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Key Drivers of the Global Tie Gun Market
- Modernization of electrical and electronic installation is identified as a key driver of the global tie gun market. Cable and wire bundling is an important part of current electrical and electronic fittings. Professionals are looking for economical and genuine cable tie tools for reliable execution of harnessing and bundling projects. Furthermore, OEMs in the automotive and consumer electronics industry are investing in automated tie guns for large volume cable tying requirements.
- Automotive electrification involves large volume wiring and cables that carries extreme voltages, which need seamless integration into the automotive assembly line for safety, neatness, and low weight impact. Furthermore, the electric vehicle industry is required to meet various industry standards regarding cable management and installation.
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COVID-19 Pandemic Impact on the Global Tie Gun Market
The complete or partial lockdown of end-use industries including automotive, electronics, and electrical installation, caused sharp reduction in tie gun demand. Interruption in the global supply chain, reduced industrial activities and fixed investment, and slowdown of economic activities have forced companies to realign marketing and product distribution strategies.
Asia Pacific Recognized as the Key Market for Tie Guns
- By geography, the global tie gun market is classified into South America (SA), North America (NA), Europe (EU), Middle East & Africa (MEA), and Asia Pacific (APAC).
- Rising production of consumer electronics and robust advancement in the automotive industry is driving the demand for tie guns in the Asia Pacific market. China represents the largest automotive hub in the world with increasing investment in electric vehicle projects. Furthermore, national policies in the country are encouraging the penetration of Chinese companies across the global supply chain of electric vehicles.
Some of the major companies identified in the global tie gun market are:
- Apex Tool Group (ATG)
- Richco Inc.
- Anixter International Inc.
- RV Rhodes
- Malco Products, SBC
- SES-Sterling SA
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Key Companies Operating in the Global Tie Gun Market
Key companies are focused on the development of advanced products to meet changing needs across different end-use industries. Industry participants are investing in research and development projects to design automatic tie guns with custom specifications. Furthermore, companies are signing strategic partnerships with local companies and distributors to expand the business in untapped markets.