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Heat Shrink Tubing And Sleeves Market Size, Growth And Global Forecast 2023-2032
Heat Shrink Tubing And Sleeves Market Report
The Business Research Company's Heat Shrink Tubing And Sleeves Global Market Report 2023 identifies an increasing demand for electrical and electronics products as the major driver for the heat shrink tubing and sleeves market's growth in the forecast period. Electrical and electronic equipment refers to devices and systems that utilize electricity and electronic components to perform specific functions. Higher demand for various electrical and electronic products, including wires, cables, connectors, and electronic components, requires heat shrink tubing and sleeves that offer excellent insulation properties, protecting wires and cables from other environmental factors such as moisture, chemicals, and abrasion.
The global heat shrink tubing and sleeves market size is expected to grow from $1.86 billion in 2022 to $1.98 billion in 2023 at a compound annual growth rate (CAGR) of 6.75%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, and affecting many every market across the globe. The global heat shrink tubing and sleeves market size is expected to reach $2.50 billion in 2027 at a CAGR of 6.01%.
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Major competitors in the heat shrink tubing and sleeves market are HellermannTyton, Molex Electronic Solutions, Panduit, Shrink Sleeves Ltd., TE Connectivity, ABB Ltd., The 3M Company, Wurth Elektonik Company, Techflex Inc., Artilabo International, Gremtek SAS, Pexco LLC, DSG-Canusa, Don-Polymer Ltd., and Essentra PLC.
A key trend in the heat shrink tubing and sleeves market includes advances in technology and innovation. Companies operating in the heat-shrink tubing and sleeves market are adopting innovative technologies to advance product development and sustain their position in the market. For instance, in June 2021, Nexans, a France-based cable and optical industry, launched Nexans' JTS system to minimize the risk of joint failure in the electrical network. The JTS range offers high-performance, compact, and easy-to-install heat-shrinkable cable joints for medium voltage applications (11-36 kV). Utilizing triple-wall tube technology, these joints simplify the installation process by reducing the number of tubes required for heat shrinking. This not only saves time but also minimizes the risk of joint failure.
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The heat shrink tubing and sleeves market is segmented -
•By Product Type: Tubes, Sleeves, Other Accessories
•By Material Type: Polyolefin (POE), Ethylene Tetrafluoroethylene (ETFE), Ethylene Vinyl Acetate (EVA), Polytetrafluoroethylene (PTFE), Fluorinated Ethylene Propylene (FEP), Perfluoroalkoxy Alkane (PFA), Other Materials
•By Length: Spool, Standard (1.2 Meter), Non-Standard Cut Pieces, Custom
•By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket
•By Applications: Automotive, Aerospace, Railways, Telecommunication, Energy, Electrical Engineering Goods And Components, Home Appliances, Defense And Armaments, Other Applications
•By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the heat shrink tubing and sleeves market.
The Business Research Company's "Global Heat Shrink Tubing And Sleeves Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Heat Shrink Tubing And Sleeves Market Include:
1. Executive Summary
2. Heat Shrink Tubing And Sleeves Market Characteristics
3. Heat Shrink Tubing And Sleeves Market Trends And Strategies
4. Heat Shrink Tubing And Sleeves Market - Macro Economic Scenario
5. Heat Shrink Tubing And Sleeves Market Size And Growth
……
26. Africa Heat Shrink Tubing And Sleeves Market
27. Heat Shrink Tubing And Sleeves Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Heat Shrink Tubing And Sleeves Market
29. Heat Shrink Tubing And Sleeves Market Future Outlook and Potential Analysis
30. Appendix
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