Global Bungee Cords Market Overview:
A bungee cord is an elastic cord that consists of one or more elastic strands that form a core and are usually covered with a woven cotton or polypropylene sleeve. The sheath does not extend in a substantially elastic manner but is braided with its strands wound around the core so that they compress the core by a longitudinal pull and transfer the elastic compression of the core to the longitudinal extension of the sheath and the cord. Specialized bungees, such as those used in bungee jumping, can consist entirely of elastic strands. Bungee cables have been used to provide lightweight suspension for aircraft landing gears and are still used in many small homemade aircraft where weight remains critical. Bungee cords were also used in skydiving to aid in opening the old-style parachute canister after pulling the ripcord. At present, bungee cords are most commonly used to secure items without tying knots and to absorb shocks. Inexpensive bungee cords with metal or plastic hooks on each end are marketed as a common commodity.
- The Extensive Use of Bungee Cords across Diverse Adventure Sports
- The Rising Number of Enthusiasts to Join In Outdoor Activities
- Growing Usage of Short Bungee Cords in Various Applications
- The Use of Bungee Cords for Securing Objects without the Need for Tying a Knot
- The Growing Usage of Bungee Cords and Accessories across a Variety of Applications Such As Transportation, Adventure Sports, Commercial Use, Military and Defense, And Others
- Lack of Awareness about the Product in Less Developed Region
- Develop Customized Products for Catering To a Niche End-User
- Growth in Research and Development Activities, Novel Product Launches, and State-Of-The-Art Advertising Strategies
- The COVID-19 Outbreak Has Constrained the Tourism Sector
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Some of the key players profiled in the report are Hampton Products (United States), Keeper (United States), Strainrite Ltd. (New Zealand), Rhino USA, Inc. (United States), Erickson Inc. (United States), GLT Products (United States), Nite Ize, Inc. (United States), Lynx Supply, Inc. (United States) and Recmar Products (United States). Analyst at AMA Research see United States Vendors to retain maximum share of Global Bungee Cords market by 2026. Considering Market by Length, the sub-segment i.e. 10" will boost the Bungee Cords market. Considering Market by Sales Channel, the sub-segment i.e. Online will boost the Bungee Cords market.
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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The top-down and bottom-up approaches are used to estimate and validate the size of the Global Bungee Cords market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Bungee Cords market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes New Entrants/Investors, Analysts and Strategic Business Planners, Providers of Financial Close Management Software, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End-Use Industry.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.