Automotive Connectors Market Synopsis
The worldwide automotive
connectors market size is expected to grow at a compound annual growth rate
(CAGR) of 8.5% and reach a valuation of around USD 20.42 billion by 2032.
Electromechanical components known as connectors are crucial for
connecting electrical circuits. Connectors are used in automotive eccentric
devices to join cables and electrical equipment in the car sector.
The rising need for security in cars is the main factor affecting
the worldwide automotive connectors market in 2020. Car security systems make
heavy use of connectors. The market for automotive connections is growing as a
consequence of the rising vehicle theft and the resulting rise in demand for
security systems in cars. The need for and use of connections are continually
growing due to the growing smart vehicle sector. As a result, the market for
automobile connections grows. The market for automotive connections in the area
is probably going to be impacted by the increasing electrification of cars.
However, the lack of basic protocols for the advancement of
automotive connectors, durability, and reliability of connectors, and the
scarcity of proficient workers are anticipated to be the major factors
obstructing the expansion of this market. But at the same time, the rising
demand for high-performance automobiles and autonomous automobiles is offering
the avenue for expansion of the global automotive connectors market.
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Key Players
- Delphi Automotive (UK)
- Kyocera Corporation
(Japan)
- TE Connectivity (Switzerland)
- Yazaki Corporation
(Japan)
- Japan Aviation
Electronics Industry (Japan)
- Sumitomo Electric
(Japan)
- Amphenol Corporation
(US)
- Hu Lane Associates Inc.
(Taiwan)
- Hirose Electric Co.,
Ltd (Japan)
- Korea Electric Terminal
Co. Ltd (South Korea)
Market Segmentation
The global automotive
connectors market can be segregated on the basis of vehicle type, connection
type, application type, system type, and region.
On the basis of vehicles, the global automotive connectors market
can be segregated into a commercial vehicle and passenger car. The passenger
car vertical is likely to lead throughout the review period due to the
increasing demand for passenger vehicles in the developed and developing
nations.
On the basis of connection, the global automotive connectors market
can be segregated into wire-to-board, wire-to-wire, and board-to-board. The
wire-to-board vertical is estimated to expand at a considerable rate during the
review period due to the increasing demand for electrical automobiles inverter
and battery management systems.
On the basis of application type, the global automotive connectors
market can be segregated into engine control and cooling system, body control
and interiors, safety and security system, and others. The safety and security system-based devices
are estimated to seize the maximum market size during the review period due to
the rising theft of vehicles.
On the basis of system type, the global automotive connectors market
can be segregated into the unsealed connector and sealed connector system. The
sealed connector system vertical is likely to seize the maximum share in the
global market and is estimated to expand robustly during the forecast period
due to an increase in off-roading applications and commercial vehicles.
Regional Analysis
On the basis of region, the global automotive connectors market has
been primarily divided into Europe, North America, Asia-Pacific and the Rest of
the World (RoW).
The APAC market is estimated to reign the automotive connectors
market during the review period due to the rising disposable income and
expansion in the manufacture of electric vehicles in emerging nations such as
India and China.
In Europe, the stringent rules and regulations implemented by the
government for the safety of vehicles and passengers and the rise in safety
concerns amongst the consumers are participating in the expansion of the
automotive connectors market in the region.
North America market is likely to expand significantly owing to the rising
demand for autonomous and semi-autonomous vehicles and increasing regulations
towards vehicle safety.
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