(MENAFN- Market Press Release) April 5, 2024 8:40 am - Heat Shrink Tubing (HST) Market, by Voltage (Low, Medium, and High), Material (Polyolefin, Polytetrafluoroethylene, Fluorinated Ethylene Propylene), End-User (Utilities, Chemical, Automotive, Food & Beverage) and region.
The Heat Shrink Tubing (HST) Market report lists and studies the leading competitors, as well as provides the insights with strategic industry analysis of the key factors influencing the market dynamics. In this report, the market is segmented according to type, application, end users, and region. Moreover, it presents granular analysis of the market share, segmentation, revenue forecasts and geographic regions of the market. Each segment and sub-segment is studied carefully to provide a broad segmental analysis of the global Heat Shrink Tubing (HST) Market. Such segmental analysis will help clients to focus on high-growth areas of the global market.
The global Heat Shrink Tubing (HST) Market size was estimated at USD 2.16 billion in 2023 and is projected to reach USD 3.13 billion in 2030 at a CAGR of 5.46% during the forecast period 2023-2030. Heat Shrink Tubing (HST) Market, by Voltage (Low, Medium, and High), Material (Polyolefin, Polytetrafluoroethylene, Fluorinated Ethylene Propylene), End-User (Utilities, Chemical, Automotive, Food & Beverage) and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America).
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Heat shrink tubing is used to insulate wire providing abrasion resistance and environmental protection for the stranded solid wire conductors with connections, joints, and terminals in electrical work. In general, a tube with a lower shrink temperature will shrink faster. When heat shrink tubing is wrapped around wire arrays and electrical components, it collapses radially to fit the contours of the equipment, forming a protective layer.
The growth in power generation capabilities on a global scale is the primary driver behind the heat shrink tubing market. Nevertheless, the enhancement of transmission lines and substations along existing pathways represents a cost-effective approach to augment transmission capacity. It is possible to enhance transmission capacity by reconditioning existing lines using materials such as composite conductors capable of accommodating greater currents. Although these materials are presently accessible, their limited usage stems from the challenge of taking lines out of service to implement new materials. Moreover, under favorable weather conditions, all overhead lines can carry currents surpassing their nominal rating, and employing a real-time rating that can be continuously adjusted would bolster the available capacity.
Heat Shrink Tubing (HST) Market Competitive Landscape:
3M
ABB
Alpha Wire
Changchun Heat Shrinkable Materials
Dasheng Group
GREMCO GmbH
Guanghai Materials
HellermannTyton
Hilltop
Huizhou Guanghai Electronic Insulation Materials Co., Ltd.
Insultab
Panduit
Prysmain Group
Qualtek
Sumitomo Electric
TE Connectivity
Techflex, Inc.
Thermosleeve
Woer
Zeus
Heat Shrink Tubing (HST) Market Recent Developments:
In April 2023, TE Connectivity announced the new EV Single Wall (EVSW) tubing specifically designed for high voltage applications and safely insulating and protecting conductive components and cables. This product is a single wall tube with the prime focus of providing electrical insulation and protection for high-voltage components in electric vehicles. This will help the company to diversify its product portfolio and meets the unique challenges of EV applications.
In February 2023, Molex released a miniaturization report, stating expert insights and innovations in product design engineering and leading-edge connectivity. Through this miniaturization, the company has increased the effectiveness of products and their safety too. This development enhanced the company's product line and it made a positive impact on the growth of the global heat shrink tubing market.
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Scope of the Heat Shrink Tubing (HST) Market Report:
The Heat Shrink Tubing (HST) Market is segmented into various segments such as voltage, material, end-user and region:
Based on Voltage
.Low Voltage
.Medium Voltage
.High Voltage
Based on the Material
.Polyolefin
.Polytetrafluoroethylene
.Fluorinated Ethylene Propylene
.Perfluoroalkoxy Alkane
.Ethylene Tetrafluoroethylene
.Others
Based on the End-User
.Utilities
.Chemical
.Automotive
.Food & Beverage
.Others
Based on Region
.Asia Pacific
.North America
.Europe
.South America
.Middle East & Africa
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Increase your understanding of the market for identifying the most suitable strategies and decisions based on sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors.
Gain authentic and granular data access for the Heat Shrink Tubing (HST) Market to understand the trends and the factors involved in changing market situations.
Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.
In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.
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