TE Connectivity, Sumitomo Electric Industries, Ltd. and Prysmian Group are Dominating in the Global Heat Shrink Tubing Market in 2020

Global Heat Shrink Tubing Market is expected to grow with the CAGR of 5.7% in the forecast period of 2021 to 2028. The years considered for study are as mentioned below:

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Global heat shrink tubing market is a highly consolidated market which includes specific number of key players as well as local players. The market has witnessed increased strategic developments owing to favourable market scenario.

The major players dealing in global heat shrink tubing market are introducing various heat shrink tubing that enhances the resistivity and malleability of the wire is driving the growth. This has helped the companies to enhance its sale with enhanced product portfolio. For instance, in February 2021, TE Connectivity honoured with a world leader in connectors and sensors for the electric and components industry. The company has been named as the 2021 World's Most Ethical Companies by Ethisphere. The award has overall enhanced the brand image of the company delivering more product portfolio along with revenue generation that drives more income and profit to the company.

TE Connectivity is the dominating player in the global heat shrink tubing market. The other key players existing in the heat shrink tubing market includes ABB, Sumitomo Electric Industries, Ltd., HellermannTyton, Alpha Wire, 3M, SHAWCOR, Changchun IAC Technology Co., Ltd., Zeus Industrial Products, Inc., Molex, PEXCO, Thermosleeve USA , Techflex, Inc., Dasheng Group, Prysmian Group, Shenzhen Woer Heat - Shrinkable Material Co., Ltd., Qualtek Electronics Corp., Hilltop, Assembly Fasteners, Inc., Huizhou Guanghai Electronic Insulation Materials Co.,Ltd., GREMCO GmbH among others.

Heat Shrink Tubing MarketTE Connectivity:

TE Connectivity is headquartered in Schaffhausen, Switzerland which was founded in 2000. The company delivers industrial technology that covers connectivity with heat shrink tubing to various industries. The company also operates in various business segments such as transportation solutions, industrial solutions and communication solutions among which industrial solutions is the market focused segment.The company has various products under categories which are antennas, application tooling, cable assemblies, connectors, EMI filters, fiber optics, harnessing, heat shrink tubing, identification & labelling, passive components, power systems, relays, contactors & switches, sensors, terminals & splices and wire & cable among which heat shrink tubing is the market focused category.

For instance,

  • In March 2021, TE Connectivity launched ATUM series of heat shrink tubes that has an adhesive inside tube bonds with a wide range of rubber, plastics and metals that includes PVC, polyethylene, rubber and aluminium. The high flexibility offered from the shrink tubes make it ideal for repairing cables in industrial applications. The company enhanced its product portfolio delivering more profit to the company.
  • The company has global presence across Americas, Europe, Middle East and Africa and Asia-Pacific. The company also generates its revenue from the various subsidiary companies such as Measurement Specialties, Inc. (U.S.), LADD Distribution, LLC (U.S.), American Sensor Technologies, Inc. (U.S.), TE Connectivity Germany GmbH (Germany), Creganna Medical, DRI Relays Inc. (U.S.) among others.

Sumitomo Electric Industries, Ltd.:

Sumitomo Electric Industries, Ltd. is headquartered in Osaka, Japan and was established in 1897. The company provides technology and innovation in the wiring system for the automobile industry. The company offers wide range of business segments such as automotive business, information & communications business, electronics business, environment & energy business and industrial materials business among which automotive business is the market focused segment. The company offers wide range of products under categories such as raw materials, components, modules, end products and systems among which components is the market focused category.

For instance,

  • In June 2017, Sumitomo Electric Industries, Ltd. participated at the 52nd International Air show for products in the tube making and cable that enhanced the product portfolio for the company. The company enhanced its business portfolio generating more income and profit to the company.

The company has presence in the U.S., China and Japan. In addition to it, the company also generates its revenue from the various subsidiary companies such as Sumitomo Wiring Systems, Ltd. (Japan), Sumitomo Riko (Japan), Sumitomo Densetsu (Japan), Sumitomo Electric Hardmetal Corp. (Japan), SUMITOMO ELECTRIC DEVICE INNOVATIONS, INC. (Japan) among others.

Prysmian Group:

Prysmian Group is headquartered in Milan, Italy and was founded in 2011. The company is engaged with superior cable solutions based on state-of-the-art technology and consistent excellence in execution, ultimately delivering sustainable growth and profit. The company offers wide range of business segments such as energy, projects and telecom among which energy is the market focused segment. The company offers wide range of industries under categories such as power grids, construction and infrastructure, oil & gas, transportation and mobility, telecom and industries among which oil & gas is the market focused category.

For instance,

  • In November 2017, Prysmian Group attended the exhibition of ADIPEC 2017 which was held at Dubai for the cable solution in on shore exploration & production, pipelines & LNG, refineries and petrochemical facilities. The company provided wide range of solutions for the power transmission and distribution with enhanced fire resistance and chemicals. The company enhanced its wide product portfolio generating more income and profit to it.

The company has presence in Europe, America, Asia-Pacific and Africa. In addition to it, the company also generates its revenue from the subsidiary company General Cable Technologies Corporation (U.S.).