Global Heat-Shrink Tubing Market 2019-2024: Government Initiatives to Expand and Upgrade T&D Systems and Increasing Power Generation Capacities
The Global Heat-Shrink Tubing Market is Projected to Reach USD 2.3 Billion By 2024 from an Estimated USD 1.8 Billion in 2019, at a CAGR of 5.3%
- The Global Heat-Shrink Tubing Market is Projected to Reach USD 2.3 Billion By 2024 from an Estimated USD 1.8 Billion in 2019, at a CAGR of 5.3%
This growth can be attributed to factors such as government initiatives to expand and upgrade T&D systems and increasing power generation capacities. - The polyolefin segment is expected to be the largest heat-shrink tubing market, by material, during the forecast period
The polyolefin segment is expected to be the largest heat-shrink tubing market, by material, during the forecast period. - Massive T&D network expansions and increasing urbanization and industrialization projects in China and India are the main reasons for the growth of the low voltage heat-shrink tubing market.
- The governments of Asia Pacific countries are planning to develop more electrical grid and power generation capacities, which would further boost the demand for heat-shrink tubing in the region.