PUBLISHER: The Insight Partners | PRODUCT CODE: 1452640
PUBLISHER: The Insight Partners | PRODUCT CODE: 1452640
The Asia Pacific heat shrink tubing market is expected to grow from US$ 819.62 million in 2022 to US$ 1,194.90 million by 2028. It is estimated to grow at a CAGR of 6.5% from 2022 to 2028.
Automation of Heat Shrink Tubing Drive Asia Pacific Heat Shrink Tubing Market
Heat shrink tubing is used to insulate wire conductors, as well as protect and seal cables. Performing heat shrink tubing manually can invite risk, apart from being a time-consuming process. Automating this process minimizes the operators' direct interaction with wires, decreases production costs over the long term, and dramatically improves quantitative and qualitative production indicators.
An automated heat shrink tubing consists of an instrumented heat chamber on a linear positioning system fitted with heat guns. The chamber design directs the hot air from the heat guns onto the wire harness uniformly with the help of radially distributed channels. A control unit continuously manages the actuator position by measuring the chamber's speed and temperature. In automated heat shrink tubing, the workpieces are loaded into a machine and automatically passed through a heating tunnel. These machines can address the precise shrinkage specifications due to the automatic movement of workpieces.
Many aircraft, automobiles, and spacecraft require large bundles of wires that would stretch over several kilometers, if extended fully. Putting all these wires into an automated heat shrink tubing can save time, mitigate risk of an electrical short, provides a standardized process, and installation time can be significantly decreased, as well as provides protection against adverse effects of vibrations, abrasions, and moisture.
Thus, owing to the benefits provided, automation of heat shrink tubing is emerging as a significant trend in the Asia Pacific heat shrink tubing market.
Asia Pacific Heat Shrink Tubing Market Overview
Population across countries such as India, Malaysia, Singapore, and China are actively adopting various smart home technologies, including smart light and IoT devices.
The region over the years has also experienced a rise in urbanization rate. According to the data published by the World Bank, India experienced a rise in urban population by 2.32% in 2021. Moreover, 61% of the total population of China is now living in urban areas. According to the same source, the increasing disposable income and growing technology adoption in China are further expected to boost the demand for various smart home technologies in order to develop connected homes.
This is expected to propel the demand for various wires across the residential sector, thereby contributing to the growth of the Asia Pacific heat shrink tubing market in APAC.
The region homes two of the most fastest developing countries-China and India. Both countries are experiencing rapid infrastructural development in both residential and commercial sectors. A few of the major developments are mentioned below:
The Chinese MOT in 2018 announced its plans to have 400 airports by 2035, while 240 airports are already constructed, and 160 airports will be completed by 2035. Additionally, the aviation ministry in October 2022 announced its plans to construct 80 new airports in the next 5 years.
The Delhi government in August 2022 announced its intention to develop 11 new hospitals with more than 10,000 beds in upcoming years. Similarly, in March 2022, the state government announced its plans to upgrade 49 hospitals for setting up a medical complex in Pune over the next five years.
These infrastructural developments across China and India are directly triggering the need for several wires and cables for installation purposes across the buildings for proper network and power connections. These factors are thereby expected to boost the growth of the APAC heat shrink tubing market size.
Sumitomo Electric Industries Ltd, Shenzhen Woer Heat - Shrinkable Material Co. Ltd., and Shanghai Changyuan Electronic Material Co. Ltd are a few major heat shrink tubing market players operating in Asia Pacific.
Asia Pacific Heat Shrink Tubing Market Revenue and Forecast to 2028 (US$ Million)