Newly Published Visiongain Report: Heat Shrink Tubing Market Report 2019-2029
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Factors Driving the Market Growth:
– Development of transmission and distribution network in developing economies
Many developing and developed economies around the globe are making attempts to modernise and increase transmission and distribution networks by enhancing the infrastructure for electrical transmission. This will ensure better integration into the grid among renewable energy sources, catalysing the shift to clean energy. With such projects, there has been a considerable increase in demand for repair and maintenance of electrical transmission lines in many nations, which is further expected to increase demand for insulating products such as heat shrink tubing and sleeves that contribute to cable and wiring preventive maintenance. In addition, many developing nations focus on upgrading their age old technology, which is expected to further enhance the development of the market for heat shrink tubing and sleeves over the forecast period.
– Rising demand for electricity
With expanding population and urbanisation globally, energy demand is expected to rise significantly in the coming years. The demand for electricity is expected to double by the end of 2060, according to a research. Such factors are expected to drive the demand for electrical cables and wires, which is supposed to increase the demand for heat shrink tubing market.
Factors Restraining the Market Growth:
– Availability of cheap materials
The presence of gray markets globally is one of the major factors restricting the growth of the market. Low quality heat shrink tubes are made available in these parallel markets which cause great revenue losses for the overall global heat shrink tubing market.
Market Segmentation 2019-2029:
The Heat Shrink Tubing Market is segmented on the Voltage, Material, End-user, and Regional basis.
– Fluorinated Ethylene Propylene
– Food & Beverage
Focused regional forecasts and analysis explore the future opportunities:
– North America
– Global heat shrink tubing competitive environment is expected to be moderate over the period ranging 2019 – 2029 by virtue of limited manufacturers operating in this industry
– The market competition is expected to be on the basis of new product development and product pricing.
Major Market Players:
TE Connectivity, Zeus Industrial Products, Inc., The 3M Company, DSG-Canusa GmbH, Changyuan Group, Ltd., HellermannTyton, Qualtek Energy Corporation, Alpha Wire, Insultab, Dasheng Group, Molex, LLC, Shenzhen Woer Heat-Shrinkable Material Co., Ltd., Techflex, Inc., Dongguan Salipt Co.,Ltd, Taiwan Yun Lin Electronic Co., Ltd. and Sumitomo Electric Industries, Ltd.
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