Heat-Shrink Tubing Market To Observe Exponential Growth By 2019-2024 | Leading key players are TE Connectivity, 3M, Sumitomo Electric, ABB, HellermannTyton, Alpha Wire, Woer

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"

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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.

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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.

This research report categorizes the heat-shrink tubing market by voltage, material, end-user, and region.
The heat-shrink tubing market, by voltage, has been segmented as follows:

Low Voltage
Medium Voltage
High Voltage

The heat-shrink tubing market, by material, has been segmented as follows:

Polyolefin
Polytetrafluoroethylene
Fluorinated Ethylene Propylene
Perfluoroalkoxy Alkane
Ethylene Tetrafluoroethylene
Others

Note: Others includes Polyether Ether Ketone (PEEK) and Polyethylene Terephthalate (PET).
The heat-shrink tubing market, by end-user, has been segmented as follows:

Utilities
Chemical
Automotive
Food & Beverage
Others*

Note: Others includes healthcare and aerospace & military industries.
The heat-shrink tubing market, by Region, has been segmented as follows:

Asia Pacific
North America
Europe
Middle East & Africa
South America

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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.

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).

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Key Questions Addressed by the Report:

Which revolutionary technology trends are expected over the next 5 years?
Which heat-shrink tubing market elements are likely to lead by 2024?
Which voltage segment is expected to get the maximum growth opportunity during the forecast period?
Which region is expected to lead in terms of the highest market share by 2024?
How are companies using heat-shrinkable tubes in different applications?

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