Heat Shrink Tubing (HST) Market 2024 Size, Trend Analysis, Development Strategies and Opportunity Assessment by 2030

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.

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.

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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.

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.

Top Key Competitors of Heat Shrink Tubing (HST) Market:

·        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 and More

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Heat Shrink Tubing (HST) Market Segmentations:

By Voltage

·        Low Voltage

·        Medium Voltage

·        High Voltage

By Material

·        Polyolefin

·        Polytetrafluoroethylene

·        Fluorinated Ethylene Propylene

·        Perfluoroalkoxy Alkane

·        Ethylene Tetrafluoroethylene

·        Others

By End-User

·        Utilities

·        Chemical

·        Automotive

·        Food & Beverage

·        Others

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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