This Heat Shrink Tubing And Sleeves market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Heat Shrink Tubing And Sleeves market.
Market Overview
The history of cable insulation dates way back to the late 18th century, when vulcanized rubber was used for insulation of wires to be used in high voltage circuits. It was then, in 1895, that mass impregnated paper insulated medium voltage cables became commercial for numerous applications. With advancements in technology, there were numerous other insulation materials being introduced to cope with the increasing demand for superior quality wire and cable insulation for use in high voltage applications. Furthermore, electrical wires are somewhat flexible, owing to which they require sheaths and insulation to withstand the forces of repeated abrasion and flexing. Attributing to this, heat shrink tubing and sleeves are becoming a popular alternative for insulation of cables and wires across the globe.
Heat shrink tubing and sleeves are activated when they are heated. These are most commonly used to insulate cables, wire terminals and joints, due to their slug fit and durable exterior, which protects wires against abrasions and environmental effects. Heat shrink tubing and sleeves vary in thickness, size and material depending on their application. Moreover, increasing industrialization across the globe is anticipated to further fuel the consumption of electricity, which is expected to simultaneously ramp up the demand for electrical insulation materials such as heat shrink tubing and sleeves. The market is governed by a set of tier-1 players who hold a significant share on the regional and local level.
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The overall electrical insulation material market is slated to have a positive outlook in India, China, the U.S. and European countries. This can be primarily attributed to the increasing consumption of electricity in these regions. Furthermore, increasing investments towards modernization of transmission and distribution framework across developing countries are expected to further ramp up the market in the coming years. This is anticipated to create ample opportunities for manufacturers to augment their business operations in the coming years.
Modernization and Augmentation of transmission and distribution network in developing economies
Numerous developing and developed economies across the globe are making efforts for modernization and augmentation of transmission and distribution networks by improving electric transmission infrastructure. Among renewable sources of energy, this will ensure better integration into the grid, catalyzing the transition into clean energy. With such initiatives, the demand for repair and maintenance of electrical transmission lines in many countries has increased considerably, which is further anticipated to boost the demand for insulating materials such as heat shrink tubing and sleeves which help in preventive maintenance of cables and wires. Moreover, many developing nations are focusing on upgrading their ageing technology, which is anticipated to further promote the growth of the heat shrink tubing and sleeves market over the assessment period.
Increasing demand for electricity across the globe
With increasing population and urbanization across the globe, the demand for electricity is anticipated to increase considerably in the coming years. According to a study, the demand for electricity is projected to be doubled by the end of 2060. Such factors are anticipated to drive the demand for electrical cables and wires, which is expected to subsequently surge the demand for heat shrink tubing and sleeves.
Regional Market Outlook
The global heat shrink tubing and sleeves market can be segmented into the following regions – North America, Latin America, Western Europe, Eastern Europe, South East Asia-Pacific, China, Japan, India and the Middle East and Africa. China and India are anticipated to dominate the market, owing to the increasing investments in transmission and distribution capital expenditure. North America is slated to provide ample growth opportunities over the assessment period. This can primarily be attributed to the higher consumption of electrical insulation materials in countries such as the U.S. Though energy efficiency has increased considerably in recent years, electricity consumption has increased yet more considerably in Europe. This is anticipated to further supplement the growth of the heat shrink tubing and sleeves market in the coming years.
Global Heat Shrink Tubing and Sleeves Market: Key Players
Some of the key players identified in the global heat shrink tubing and sleeves market are 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.
Global Heat Shrink Tubing and Sleeves Market: Key Developments
- In 2015, TE Connectivity introduced new dual wall heat shrink tubing products that meet the UL VW-1 flammability requirement
- In 2015, Zeus Industrial Products LLC launched a new peelable heat shrink for extruded polymer testing solutions
Opportunities for Market Participants
Increasing opportunities in the automotive, chemical, food and beverage industries are anticipated to create avenues for market participants to introduce new products and give a necessary boost to their revenue stream in the coming years. Furthermore, with a continuous increase in the global power generation capacity, the demand for electrical insulation materials is anticipated to increase considerably. This is expected to further create opportunities for augmentation of the market in the coming years.
Brief Approach to Research
FMI will follow a modelling-based approach and triangulation methodology to estimate data covered in this report. A detailed analysis of the product type and its end uses is covered in the study. Moreover, the parent market (electrical insulation materials) is being studied thoroughly in order to derive suitable insights about the heat shrink tubing and sleeves market. In depth analysis from both the supply and the demand side is being carried out in order to reach to a suitable market size. The statistics and data are collected at a regional level and consolidated and synthesized at a global level to estimate the overall market sizes.
Key Data Points Covered in the Report
Some of the key data points covered in our report include:
- An overview of the Heat shrink tubing and sleeves market, including background and evolution
- Macroeconomic factors affecting the heat shrink tubing and sleeves market and its potential
- Market dynamics, such as drivers, challenges and trends
- Technology roadmap involved from inception to present date
- Detailed value chain analysis of the heat shrink tubing and sleeves market
- Cost structure of the products and segments covered in the global heat shrink tubing and sleeves market
- In-depth pricing analysis by key product segments, regions and major heat shrink tubing and sleeves market participants
- Analysis of supply and demand, such as top producing and consuming geographies, imports/exports and overall trade scenario in the global heat shrink tubing and sleeves market
- Analysis of the global heat shrink tubing and sleeves market structure, including a tier-wise categorization of key heat shrink tubing and sleeves market participants
- Competitive landscape of the market, including detailed profiles of top players in the heat shrink tubing and sleeves market
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The report covers exhaust analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
- Value Chain
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Japan
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Product Definition and Segmentation
Heat shrink tubing and sleeves are handy for preventive repair and maintenance activities as they can be used for minor repairs in connectors and cables. The heat shrink tubing and sleeves market can be segmented on the basis of the following criteria:
By type:
- Polytetrafluoroethylene (PTFE)
- Fluorinated ethylene propylene (FPE)
- Perfluoroalkoxy alkane (PFA)
- Ethylene Tetrafluoroethylene (ETFE)
- Polyethylene Terephthalate (PET)
- Polyether Ether Ketone (PEEK)
By end use:
- Chemical
- Automotive
- Aerospace
- Food and Beverages
- Healthcare
Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current, and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Frequently Asked Questions
What research methodology is used to develop the Heat Shrink Tubing And Sleeves Market report?
- FMI utilizes three branched methods to derive market measurements used to compile any report study (data derivation, triangulation and validation).
- These approaches include accumulating data from both primary and secondary sources
- Primary research involves interviews with industry operators and FMI's network of contacts spanning the world's value chain of the Heat Shrink Tubing And Sleeves Market. This is supported by a comprehensive literature analysis of information gathered through secondary sources
- Analysis of several middle market stakeholders for country-wise data
What else does FMI offer apart from Heat Shrink Tubing And Sleeves Market report?
In addition to up-to-date market figures and customized of the Heat Shrink Tubing And Sleeves Market, FMI offer consulting services to help businesses within industry navigate challenges and take well-informed decisions amidst the breakneck competition.
How do you define competitors based on market structure? What aspects about a competitor are included in the company profile section?
- Most of the competitors are segregated according to their market share in 'Tier' wise statures.
- Global market participants are scrutinized and global competition metrics are included with numerous competitor profiles referring to their business background and go-to market strategies.