According to a recent survey published by FMI, the global Heat Shrink Tubes market is expected to grow at a healthy CAGR during the forecast period between 2018 and 2028. The objective of the report is to uncover micro and macro-economic factors accelerating the sales of Heat Shrink Tubes over the coming decade.
Advent of Industry 4.0 Technology to Create New Growth Avenues for the Heat Shrink Tubes Market
The industrial sector is undergoing a change as firms throughout the world place a strong emphasis on using advanced automation. This is usually referred to as Industry 4.0.
With the advent of Industry 4.0, manufacturing facilities are prioritising the use of novel technologies such as artificial intelligence, smart manufacturing, the internet of things (IoT), and machine learning, among others. The Heat Shrink Tubes market is projected to benefit from this.
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Additionally, increasing government emphasis building a better manufacturing sector and integration of augmented and virtual reality using smart equipment to enhance the output is estimated to propel the demand in the market for coming years.
Key Heat Shrink Tubes Market Takeaways and Projections
- The U.S. is estimated dominate the Heat Shrink Tubes market in North America, accounting for the largest share in the region through 2022.
- Germany is projected to account for a significant share in the Europe market over the assessment period.
- China is forecast to hold the lion’s share the East Asia market, projecting the fastest growth in the region between 2022 and 2032
- India is anticipated to emerge as a highly remunerative market in South Asia, accounting for the largest sales during the forecast period.
Report Benefits & Key Questions Answered
- Heat Shrink Tubes Historical Market Outlook: Future Market Insight’s analysis examines vital dynamics, such as drivers, opportunities and challenges. It studies their impact on the market over the previous assessment period 2016-2020. The report provides crucial insights to market players to capitalize on opportunities and counter challenges.
- Heat Shrink Tubes Demand-Supply Assessment: A latest study published by FMI offers in-depth insights into governing factors facilitating the demand outlook of the Heat Shrink Tubes As per the survey, Heat Shrink Tubes sales will project steady growth over the forecast period.
- Heat Shrink Tubes Consumption by Demographics: The report published by FMI provides consumption by demographics analysis to assist the market players in formulating their marketing strategies on the basis of purchasing power of the customers. It examines changes in consumer behavior and also studies its effect on the demand for Heat Shrink Tubes.
- Heat Shrink Tubes Market Trend Analysis: FMI’s market trend analysis provide detailed insights into current and upcoming trends in the industrial automation industries. It also assist the industry players to identify potentials trends to capitalize on them.
Heat Shrink Tubes Market: Participants
Examples of some of the market participants identified in the Heat Shrink Tubes market include:
- 3M Company
- TE Connectivity
- Prysmian Group
- ABB Ltd
- Nexans SA
- HellermannTyton
- Qualtek Energy Corporation
- Hilltop Products Ltd
- Essentra plc
- Alpha Wire
- Insultab Inc
- Sumitomo Electric Industries, Ltd
- GV Kinsman Pty Ltd
- Thomas & Betts
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Heat Shrink Tubes Market: Segmentation
On the basis of material type, the Heat Shrink Tubes market can be segmented as:
- Polyolefins
- Fluoropolymers
- Polyvinyl chloride
- Polychloroprene
- Others
On the basis of end users, the Heat Shrink Tubes market can be segmented as:
- Power
- Automotive
- Aviation
- Marine
- Manufacturing
- Commercial & Residential
- Others
On the basis of product type, the Heat Shrink Tubes market can be segmented as:
- Spools
- Pre-cut Lengths
- Others
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)
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