Cable Wrapping Tapes Market - Regional Analysis
APAC Market Insights
Asia Pacific industry is anticipated to account for largest revenue share of 38% by 2035. This is primarily attributed to the increasing demand for electrical devices and heavy investments in the power sector. In line with our analysis, energy generation in the APAC region is expected to rise by 4% per year between 2022 and 2030. Demand for better cables and wires for the electrical fittings significantly increases the market revenue for global cable wrapping tape. Further, the adoption of industry 4.0 initiatives to boost infrastructure across manufacturing/production & and related industries and value creation processes, is expected to propel the market. Also, the demand for power cord solutions across industrial sectors in developing countries in the Asia Pacific region such as South Korea, India, and others is anticipated to boost the market’s growth.
North America Market Insights
North America cable wrapping tapes market is estimated to possess significant revenue share owing to several factors. The region has developed infrastructure, sophisticated manufacturing capacities, and a strong demand for electric products in different sectors like construction, the automotive sector as well and electronics. The presence of major players in the market. The dominant position of North America on the global market is driven by technological progress and stringent safety regulations. Moreover, demand for cable wrapping tapes in the region is driven by an increasing emphasis on energy efficiency and increased use of renewables.
