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Energy Industry News Releases

Heat-Shrink Tubing Market Size, Share, Analysis, Regional Outlook and Forecast 2019-2024

 



(EnergyIndustry.Net, February 13, 2021 ) According to the new market research report "Heat-Shrink Tubing Market by Voltage (Low, Medium, and High), Material (Polyolefin, Polytetrafluoroethylene, Fluorinated Ethylene Propylene), End-User (Utilities, Chemical, Automotive, Food & Beverage), Region - Global Forecast to 2024", is projected to reach USD 2.3 billion by 2024 from an estimated USD 1.8 billion in 2019, at a CAGR of 5.3% during the forecast period. Increasing investments in the electrical networks, increasing demand for reliable and secure power supply worldwide, and growing adoption of renewable energy sources across the globe are likely to drive the heat-shrink tubing market.

Browse 65 market data Tables and 25 Figures spread through 127 Pages and in-depth TOC on "Heat-Shrink Tubing Market - Global Forecast to 2024"


Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=40363663

The low voltage segment is expected to be the largest heat-shrink tubing market, by voltage, during the forecast period

The low segment is expected to be the largest heat-shrink tubing market during the forecast period. This growth can be mainly attributed to the growing demand for attaining reliable and sustainable power supply, mostly in rural areas of the Asia Pacific and the Middle East & Africa region. Increasing investments in aging electrical infrastructure in T&D networks and the rising need to protect electrical circuit equipment are further driving the low voltage heat-shrink tubing market.

The utilities segment is expected to be the fastest growing heat-shrink tubing market, by application, during the forecast period

Utilities is the fastest growing end-user segment in the global heat-shrink tubing market. The transmission lines and distribution lines additions have led to increased investments in the electrical infrastructure. The increasing number of renewable integration projects and infrastructure developments are some of the factors responsible for boosting the growth of the utilities segment during the forecast period.

Asia Pacific is expected to account for the largest share of the global heat-shrink tubing market

In this report, the heat-shrink tubing market has been analyzed with respect to 5 regions, namely, North America, South America, Europe, Asia Pacific, and the Middle East & Africa. Asia Pacific led the global heat-shrink tubing market in 2018. The high growth rate in the Asia Pacific region can be attributed to increased investments in the electric grid development and growing reliance on renewable sources of power generation. China and India are the largest heat-shrink tubing markets in the region. Increasing grid investments and plans for electrification in remote areas in countries such as Vietnam, Indonesia, and the Philippines are likely to drive the growth of the heat-shrink tubing market in the region during the forecast period.

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The report includes the profiles of some of the top players in the heat-shrink tubing market to enable an in-depth understanding of the competitive landscape. Some of the key players are TE Connectivity (Switzerland), 3M (US), Sumitomo Electric (Japan), ABB (Switzerland), HellermannTyton (West Sussex), Alpha Wire (US), Woer (China), Qualtek (US), Panduit (US), Zeus (US), Guanghai Materials (China), Thermosleeve (US), Insultab (US), Dasheng Heat Shrinkable Material (China), and Changchun Heat Shrinkable Materials (China).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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raviraj.tak@marketsandmarkets.com

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