Valley Cottage, NY -- (SBWIRE) -- 04/25/2017 -- Straps are used across various industries for holding, reinforcing or fastening an items. Straps could be made from a wide range of materials primarily plastics, depending upon the purpose and tensile strength required. The materials can be bonded by a variety of methods: sewing, pressing, hooking, and injection molding etc. In automotive industry straps are employed in luggage compartment, car interiors, seating systems and transportation. In luggage set-ups straps are commonly used for fastening purposes. Contrary pull straps made with high grade webbing materials are being empirically used for towing, hauling and carrying vehicles. These days high standards of interior designs and functionality can be seen in modern vehicles, and straps forms an integral part of this structure. Not only they are being used as safety belts but also used for tightening and positioning seats, tethering airbags, retaining spare tires etc. The market is full of diverse elastic and non-elastic straps for vehicle interiors. Automotive straps are available in variegated designs and forms owing to the purpose it satisfies. The global market for straps used in automotive industry is anticipated to see a decent CAGR over the forecast period.

Global Automotive Straps Market: Drivers and Constraints

The continuous growth in automobile sales across the globe is anticipated to be the primary factor driving the global automotive straps market in the forecast period. With advancement in automotive logistics and growth in transportation sector the need for pull straps used for automobile carriage purposes is presumed to rise. Alongside, the growth in tourism and logistics industry across the world will drive the demand for straps used for fixing luggage in car boots. Accompanying this the rising demand for multifunctional and beautiful car interiors is also expected to fuel the market for straps used in automotive interiors. At the same time the ever changing consumer needs and some technological advancement might counter effect the growth in the conventional straps market.

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Global Automotive Straps Market: Segmentation

On the basis of application area, the Global Automotive Straps Market is segmented into:

Carriage/Automotive Pulling
Luggage Compartment
Seats and Seating Systems
Other Interior Application

On the basis of material type, the Global Automotive Straps Market is segmented into:

Polypropylene
Polyester
Polyamide
Others (Rayon, Nylon etc.)

On the basis of elasticity type, the Global Automotive Straps Market is segmented into:

Elastic
Non-Elastic

On the basis of vehicle type, Global Automotive Straps Market is segmented into:

Passenger Vehicles
Compact Size
Mid-Range
Premium
Luxury
Commercial Vehicles
LCV
HCV

On the basis of distribution channel, the Global Automotive Straps Market is segmented into:

OEM
Aftermarket

Global Automotive Straps Market: Regional Outlook

In terms of geography, the global automotive straps market has been divided in to seven key regions including North America, Latin America, Eastern Europe, Western Europe, Asia-Pacific excluding Japan, Middle East & Africa and Japan. The APEJ nations (especially China) are expected to significantly contribute in the growth of global automotive strap market. With avid economic growth in the Asian nations, rising FDI, cheap labor cost; the growth in automobile manufacturing/transportation as well as consumption is destined to show an impressive increment, in-turn increasing their share of pie in the global automotive straps market. Furthermore owing to the large number of car owners and innumerous logistic activities, North America and European markets are anticipated to protectively hold their majority share in the forecast period. In essence, the global growth in transportation and automotive sector will escalate the global automotive straps market across all the covered regions.

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Global Automotive Straps Market: Key Players

Some of the key players in the automotive straps market are JUMBO-Textile GmbH & Co., Maypole Ltd, Zilmont SRA, Damar Webbing Solutions Limited, Erickson Manufacturing Ltd., Sturges Manufacturing Inc., MISC Products Inc., etc.