North America Electric Vehicle Heat Shrink Tubing Market – Industry Trends and Forecast to 2029

North America Electric Vehicle Heat Shrink Tubing Market Analysis and Size

North America electric vehicle heat shrink tubing can be applied in automotive tubing systems, including fuel line protection tubing, ABS tubing, air conditioning aluminum tubing, power steering return hoses, water drain tubing, ATF tubing formulated for automotive engines, water-cooling system tubing, fuel system tubing, and air conditioning hoses.

Data Bridge Market Research analyses that North America electric vehicle heat shrink tubing market is expected to reach a value of USD 21,599.79 thousand by 2029, at a CAGR of 7.7% during the forecast period. “Hoses" accounts for the most prominent application segment as this type of application is in demand and is the best option for increasing vehicle security.

Market Definition

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.

North America Electric Vehicle Heat Shrink Tubing Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints, and challenges. All of this is discussed in detail below:

Drivers

• GROWING DEMAND FOR ELECTRIC VEHICLE WIRING HARNESS FOR SAFETY SYSTEMS

Electric vehicles are becoming highly connected as part of the internet of things and the internet of vehicles, transforming the vehicle into a seamless interface between our connected lives at home and work. The integration of screens and displays into almost any imaginable interior surface demonstrates the vehicle’s growing role as a hub for entertainment, communications, and productivity.

• RISE IN TECHNOLOGICAL ADVANCEMENT TO INCREASE VEHICLE PERFORMANCE

The automotive industry has worked with major technology companies in order to deliver the most advanced, safest, and most comfortable vehicles out there. Cars are becoming large smart devices with advanced emergency braking capabilities, mapping technology for autonomous driving, better fuel efficiency, and cars as a service as a form of transportation.

• INCREASING SALES AND DEMAND FOR ELECTRIC VEHICLES

One of the key drivers of the North America electric vehicle heat shrink tubing market is the rise in demand for electric vehicles and sales worldwide. Electric vehicle segments drove the surge in the company's sales during the month.

Opportunity

• INVOLVEMENT OF AUTOMATION IN HEAT SHRINK TUBING PROCESS

Heat shrink tubing is used in wire harnessing processes to insulate wire conductors, protect wires and create cable entry seals. Manually performing this sensitive process is time-consuming, the results are heavily reliant on the operator's expertise, and the process raises safety concerns

Restraint/ Challenge

• STRINGENT GOVERNMENT REGULATION ON EMISSION OF TOXIC GASES & INCREASE IN PRICES OF HEAT SHRINK TUBUING RELATED RAW MATERIALS

Cybercrime/hacking and cybersecurity issues have increased by 600% during the pandemic across all sectors. Flaws in network or software security are weaknesses that hackers exploit to perform unauthorized actions within a system. According to Purple Sec LLC, in 2018, mobile malware variants for mobile have increased by 54% 2018, out of which 98% of mobile malware targeted Android devices. 25% of businesses are estimated to have been victims of crypto-jacking, including the security industry. On the other hand, the share of raw material prices in the total costs for heat shrink film depends upon the different materials a producer uses in his production. The price fluctuations affect the cable, wire, and connectivity products and materials being purchased or affect the outlook on budget projections in procurement, finance, supply chain management, or product development

Post COVID-19 Impact on Electric Vehicle Heat Shrink Tubing Market

COVID-19 created a negative impact on the electric vehicle heat shrink tubing market as almost every country has opted for the shutdown of every production facility except the ones dealing in producing the essential goods. The government has taken some strict actions, such as the shutdown of production and sale of non-essential goods, blocked international trade, and many more, to prevent the spread of COVID-19. The only business dealing in this pandemic situation is the essential services allowed to open and run the processes.

Recent Development

• In December 2021, Sumitomo Electric Industries, Ltd. launched cross-linked fluororesin FEX tape. The key feature of this product was its technology part, as it used two key technologies, fluorine processing technology, and electron beam irradiation technology, which offered 1,000 times more resistance to wear than conventional fluororesin (PTFE) tape. Moreover, it can be used in the automotive sector
• In April 2021, ABB launched a 25 ft. Shrink-Kon heat-shrinkable tubing. The key feature of this product was its 6.4 mm inner diameter expanded with 3.2 mm inner diameter recovered, wall thickness recovered of 0.6 mm and material used is Polyolefin

North America Electric Vehicle Heat Shrink Tubing Market Scope

North America electric vehicle heat shrink tubing market is segmented on the basis of application, material, color, connector application, type, voltage, sales channel and vehicle type. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

By Application

• Hoses
• Connectors
• Ring Terminals
• In-line Splices
• Under Bonnet Cable Protection
• Gas pipes
• Miniature Splices

On the basis of application, the electric vehicle heat shrink tubing market is segmented into hoses, connectors, ring terminals, in-line splices, under bonnet cable protection, gas pipes and miniature splices.

By Material

• Polyolefin
• Polytetrafluoroethylene
• Fluorinated Ethylene Propylene
• Perfluoroalkoxy Alkanes
• Ethylene Tetrafluoroethylene
• Others

On the basis of material, the electric vehicle heat shrink tubing market is segmented into polyolefin, polytetrafluoroethylene, fluorinated ethylene propylene, perfluoroalkoxy alkanes, ethylene tetrafluoroethylene and others.

By Color

• Red
• Yellow
• Others

On the basis of color, the electric vehicle heat shrink tubing market is segmented into red, yellow and others.

By Connector Application

• HTAT
• ATUM
• CGPT
• LSTT<150 C
• Others

On the basis of connector application, the electric vehicle heat shrink tubing market is segmented into HTAT, ATUM, CGPT, LSTT<150 C and Others.

By Type

• Single Wall Shrink Tubing
• Dual Wall Shrink Tubing

On the basis of type, the electric vehicle heat shrink tubing market is segmented into single wall shrink tubing and dual wall shrink tubing.

By Voltage

• Low Voltage
• Medium Voltage
• High Voltage

On the basis of voltage, the electric vehicle heat shrink tubing market is segmented into low voltage, medium voltage and high voltage.

By Sales Channel

• OEM
• Aftermarket

On the basis of sales channel, the electric vehicle heat shrink tubing market is segmented OEM and aftermarket.

By Vehicle Type

• BEV(Battery Electric Vehicles)
• PHEV (Plug-In Hybrid Electric Vehicle)
• Hybrid Electric Vehicle (HEVS)

On the basis of vehicle type, the electric vehicle heat shrink tubing market is segmented BEV (battery electric vehicles), PHEV (plug-in hybrid electric vehicle), HEVS (hybrid electric vehicle).

North America Electric Vehicle Heat Shrink Tubing Market Regional Analysis/Insights

North America electric vehicle heat shrink tubing market is analyzed, and market size insights and trends are provided by country, application, material, color, connector application, type, voltage, sales channel, and vehicle type, as referenced above.

The countries covered in North America electric vehicle heat shrink tubing market report are the U.S., Canada, and Mexico.

The U.S. dominates the North America electric vehicle heat shrink tubing market. The U.S. is likely to be the fastest-growing North America electric vehicle heat shrink tubing market owing to factors such as rapid growth in automotive technology, quality usage of wires and cables, and demand for proper safety.

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 like downstream and upstream value chain analysis, technical trends, porter's five forces analysis, and case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of North America brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and North America Electric Vehicle Heat Shrink Tubing Market Share Analysis

North America electric vehicle heat shrink tubing market competitive landscape provides details of the competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, North America presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the electric vehicle heat shrink tubing market.

Some of the major players operating in the electric vehicle heat shrink tubing market are Sumitomo Electric Industries, Ltd., Dasheng , Inc., TE Connectivity, Shenzhen Woer Heat-Shrinkable Material Co., Ltd., SHAWCOR, ABB, Techflex, Inc., Paras Enterprises, HellermannTyton, Alpha Wire, WireMasters, Inc., Zeus Industrial Products, Inc., 3M, The Zippertubing, Panduit, Dee Five, Huizhou Guanghai Electronic Insulation Materials Co.,Ltd., GREMCO GmbH, Qualtek Electronics Corp., Texcan, Autosparks, NELCO, Insultab, PEXCO, WiringProducts, Ltd., IS-Rayfast Ltd., Flex Wires Inc., Thermosleeve USA, Molex among others.

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