North America Heat Shrink Tubing for Automotive Market, By Application (Hoses, Connectors, Ring Terminals, In-Line Splices, Brake Pipes, Diesel Injection Clusters, Under Bonnet Cable Protection, Gas Pipes, Miniature Splices), Material (Polyolefin, Polyvinyl Chloride, Polytetrafluoroethylene, Fluorinated Ethylene Propylene, Perfluoroalkoxy Alkane, Ethylene Tetrafluoroethylene, and Others), Color (Red, Yellow and Others), Type (Single Wall Shrink Tubing and Dual Wall Shrink Tubing), Voltage (Low, Medium and High), Fuel Type (Petrol, Diesel/CNG and Electric), Sales Channel (OEM and Aftermarket), Vehicle Type (Passenger Cars, LCV, HCV, and Electric Vehicles), Country (U.S., Canada, Mexico) Industry Trends and Forecast to 2028
Market Analysis and Insights: North America Heat Shrink Tubing for Automotive Market
The North America heat shrink tubing for automotive market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 6.8% in the forecast period of 2021 to 2028 and is expected to reach USD 125,361.04 thousand by 2028. The growing demand for vehicle wiring harnesses for automotive safety systems is expected to significantly drive the market's growth.
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. It can protect against abrasion, low impact, cuts, moisture, and dust by covering individual wires or encasing entire arrays. Plastic manufacturers begin by extruding a thermoplastic tube to create heat shrink tubing. Heat shrink tubing materials vary depending on the intended application.
An increase in the demand for a wide range of insulating materials for preventive maintenance is the major driving factor in the North America heat shrink tubing for automotive market. Lack of operator expertise about the installation of heat shrinking tubes can prove to be a challenge. However, automation in the heat shrink tubing process can be an opportunity for the market. The stringent government regulations on the emission of toxic gases restrain the North America heat shrink tubing for automotive market.
The North America heat shrink tubing for automotive market report provides details of market share, new developments, and product pipeline analysis, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the North America heat shrink tubing for automotive market scenario, contact Data Bridge Market Research for an Analyst Brief; our team will help you create a revenue impact solution to achieve your desired goal.
North America Heat Shrink Tubing for Automotive Market Scope and Market Size
The North America heat shrink tubing for automotive market is segmented into eight notable segments based on application, material, type, sales channel, color, voltage, fuel type and vehicle type. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of application, the North America heat shrink tubing for automotive market is segmented into hoses, connectors, ring terminals, in-line splices, brake pipes, diesel injection clusters, under bonnet cable protection, gas pipes, miniature splices. In 2021, the hoses segment is expected to dominate the market due to higher utility with applications like clamps, spigots, flanges, and nozzles to control fluid flow.
- On the basis of material, the North America heat shrink tubing for automotive market is segmented into polyolefin, polyvinyl chloride, polytetrafluoroethylene, fluorinated ethylene propylene, perfluoroalkoxy alkane, ethylene tetrafluoroethylene, and others. In 2021, the polyolefin segment is expected to dominate the market because it is suited to the broadest range of general-purpose needs, leading to more revenue generation.
- On the basis of color, the North America heat shrink tubing for automotive market is segmented into red, yellow, and others. In 2021, the red segment is expected to dominate because of its usage in the main feed to all automotive circuits.
- On the basis of type, the North America heat shrink tubing for automotive market is segmented into single wall shrink tubing and dual wall shrink tubing. In 2021, the single wall shrink tubing segment is expected to dominate the market as it provides quick insulation and is most widely used due to its good performance.
- On the basis of voltage, the North America heat shrink tubing for automotive market is segmented into low, medium, and high. In 2021, the low voltage segment is expected to dominate the market due to the higher availability of low voltage automobiles as per government norms and regulations.
- On the basis of fuel type, the North America heat shrink tubing for automotive market is segmented into petrol/diesel, CNG, and electric. In 2021, the petrol segment is expected to dominate the market due to its wide usage and advantages like faster acceleration and quick start.
- On the basis of sales channel, the North America heat shrink tubing for automotive market is segmented into OEM and aftermarket. In 2021, the OEM segment is expected to dominate the market because of consumers’ trust and better performance of products or services.
- On the basis of vehicle type, the North America heat shrink tubing for automotive market is segmented into passenger cars, LCV, HCV and electric vehicles. In 2021, the passenger cars segment is expected to dominate the market due to the higher utilization of private vehicles in urban areas.
North America Heat Shrink Tubing for Automotive Market Country Level Analysis
The North America heat shrink tubing for automotive market is analyzed, and market size information is provided by the country, application, material, type, sales channel, color, voltage, fuel type, and vehicle type as referenced above.
The countries covered in the North America heat shrink tubing for automotive market report are the U.S., Canada and Mexico. The U.S. dominates the North American region because of rapid growth in automotive technology, quality usage, and growing standards of wires and cables.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, the presence and availability of North American brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of sales channels are considered while providing forecast analysis of the country data.
Rise in technological advancements to increase vehicle performance is boosting the market growth of North America heat shrink tubing for automotive market
The North America heat shrink tubing for automotive market also provides you with detailed market analysis for every country growth in a particular market. Additionally, it provides detailed information regarding the market players’ strategy and their geographical presence. The data is available for the historical period 2010 to 2019.
Competitive Landscape and North America Heat Shrink Tubing for Automotive Market Share Analysis
The North America heat shrink tubing for automotive market competitive landscape provides details by the competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to the North America heat shrink tubing for automotive market.
Some of the major players operating in the North America heat shrink tubing for automotive market are Flex Wires Inc., Qualtek Electronics Corp., ABB, NELCO, Insultab, PEXCO, SHAWCOR, Sumitomo Electric Industries, Ltd., Zeus Industrial Products, Inc., HellermannTyton, Techflex, Inc., 3M, Texcan, Dasengh, Inc., Huizhou Guanghai Electronic Insulation Materials Co.,Ltd., Alpha Wire, GREMCO GmbH, Thermosleeve USA, The Zippertubing Company, Molex, TE Connectivity, Panduit, among others.
Many contracts and agreements are also initiated by the companies worldwide, which are also accelerating the North America heat shrink tubing for automotive market.
For instance,
- In March 2021, PEXCO acquired Altaflo, LLC, a manufacturer of high-performance fluoropolymer and fluoroplastic extrusions. That too for a wide variety of industries, including aerospace, pharmaceutical, chemical, energy, electronics, and filtration. This will help them in the expertise in the high performance polymer products
- In December 2020, Molex acquired Fiberguide Industries to extend optical fiber industry leadership and deliver customized integrated solutions. This acquisition helped the company in providing enhanced design prowess, intelligent digital supply chain, and global manufacturing footprint
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