Europe Heat Shrink Tubing Market
The governments of various economies have come up with several schemes to improve the transmission and distribution infrastructure, enhance operational efficiency, and reduce transmission losses. Heat shrink tubing is widely used in low- and medium-voltage transmission and distribution for insulation protection to protect all the functional parts, components, harnesses, and systems of a transmission and distribution grid.
Furthermore, ~50% of the underground power distribution system comprises installations of old paper-insulated cables. Routine maintenance and greater electrical or mechanical stress imposed on these aged systems while adding new connections will lead to cable insulation’s deterioration. In such scenarios, transition joints insulated with heat shrinking tubes help in connecting the earlier and newer cables. Additionally, bus bars are the vital components of any power distribution system and are critical component while transmitting large load currents or distributing current to varied devices. Hence, several protective shields, including heat shrinking tubing, are widely used to protect bus bar connections.
Europe is a hub for one of the leading automotive manufacturers across the world. According to Association of European Automobile Manufacturers (ACE), the European Union produced ~9.9 million units of passenger cars in 2021. Mercedes-Benz, BMW, Porsche, Volkswagen, Audi, Ferrari, Volvo, and Rolls Royce are among the major European automotive brands.
The presence of a large number of automotive manufacturers across the region is expected to increase the demand for heat shrinking tubing owing to the growing need for wires and cables in automobiles. Additionally, the region is experiencing rise in investment to set up new car production plants, which is further expected to contribute to the growth of the European Heat Shrink Tubing Market size. For instance, Volvo in July 2022 announced the launch of its third manufacturing plant in Europe. Similarly, Ford in March 2022 announced its intension to launch seven new electric vehicle manufacturing and assembling plants in Europe.
The European manufacturers of defense aircraft models are experiencing rise in the demand for their models across economies. The modernization strategies adopted by governments and defense authorities across the world have been catalyzing the order numbers and supply volume in Europe. To deliver the desired quality of models, aircraft makers are integrating the models with advanced hardware and software.
The military aircraft industry (fixed wing and rotary wing) is heavily dominated by a few manufacturers, such as Airbus Defense, and Dassault Aviation. These market players are continuously striving hard to enhance their production capacity to meet ever-growing demand. For instance, Airbus Defense delivered 325 military aircraft in 2021.
Thus, the rise in production of automobiles and military aircraft across the region, coupled with the integration of advanced systems for increasing their efficiency, is rising the demand for various wires and cables. These factors are expected to contribute to the growth of the Europe Heat Shrink Tubing Market size over the years.
A few of the major Heat Shrink Tubing Market players operating in Europe are HellermannTyton, LAS Aerospace Ltd, and TE Connectivity. These companies offer a wide range of heat shrinking tubing products to their clients. TE Connectivity has a wide range of product offerings with various options related to size, flexibility, recovery temperature, and resistance. The products offered by the company are also manufactured according to various compliance regulations and standards to ensure quality of the product offered.
The Europe heat shrink tubing market is segmented into voltage, material, end user, and country.
Based on voltage, the Europe heat shrink tubing market is segmented into low voltage (less than 5kv), medium voltage (5-35 kv), and high voltage (above 35kv). In 2022, the low voltage (less than 5kv) segment registered a largest share in the Europe heat shrink tubing market. The chemiluminescence immunoassays (CLIA) segment is further segmented into vitamin D assay market, HIV detection market, HIV ag/ab combo assay market, and other tests.
Based on material, the Europe heat shrink tubing market is segmented into polyolefin, polytetrafluoroethylene, fluorinated ethylene propylene, perfluoro alkoxy alkane, polyvinylidene fluoride, and others. In 2022, the polyolefin segment registered a largest share in the Europe heat shrink tubing market.
Based on end user, the Europe heat shrink tubing market is segmented into energy, utilities, electrical power, infrastructure/building construction, industrial, telecommunication, automotive, aerospace, defense, mass transit and mobility, medical, petrochemical, and mining. In 2022, the utilities segment registered a largest share in the Europe heat shrink tubing market. The energy segment is further segmented into renewable and non-renewable.
The utilities segment is further segmented into electricity, natural gas, steam supply, water supply, and sewage removal. The electrical power segment is further segmented into power generation, power transmission, and power distribution. The infrastructure/building construction segment is further segmented into residential & commercial, data centers, distribution, HVAC, and infrastructure. The industrial segment is further segmented into residential & commercial, data centers, distribution, HVAC, and infrastructure. The industrial segment is further segmented into industrial equipment and industrial electrical. The telecommunication segment is further segmented into wireless, broadband, CATV, and others. The automotive segment is further segmented into heavy duty machinery and agriculture, EV vehicles, hybrid vehicles, diesel vehicles, gasoline vehicles, and autonomous vehicles. The aerospace segment is further segmented into commercial aircraft, space exploration, and others. The defense segment is further segmented into military aircraft, military equipment & machinery, and others. The mass transit and mobility segment is further segmented into mass transit and mobility. The medical segment is further segmented into high temperature (150 C>) and low temperature (<150 C).
Based on country, the Europe heat shrink tubing market is segmented into France, Germany, the UK, Italy, Russia, and the Rest of Europe. In 2022, Germany segment registered a largest share in the Europe heat shrink tubing market.
3M Co, HellermannTyton Ltd, Molex LLC, Sumitomo Electric Industries Ltd, TE Connectivity Ltd, and Zeus Industrial Products Inc are some of the leading companies operating in the Europe heat shrink tubing market.
Strategic insights for the Europe Heat Shrink Tubing provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 461.17 Million |
| Market Size by 2028 | US$ 648.67 Million |
| Global CAGR (2022 - 2028) | 5.9% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Voltage
|
| Regions and Countries Covered | Europe
|
| Market leaders and key company profiles |
The geographic scope of the Europe Heat Shrink Tubing refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The Europe Heat Shrink Tubing Market is valued at US$ 461.17 Million in 2022, it is projected to reach US$ 648.67 Million by 2028.
As per our report Europe Heat Shrink Tubing Market, the market size is valued at US$ 461.17 Million in 2022, projecting it to reach US$ 648.67 Million by 2028. This translates to a CAGR of approximately 5.9% during the forecast period.
The Europe Heat Shrink Tubing Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Heat Shrink Tubing Market report:
The Europe Heat Shrink Tubing Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Heat Shrink Tubing Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Heat Shrink Tubing Market value chain can benefit from the information contained in a comprehensive market report.
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