Automotive Connectors
Market Analysis Overview:
The worldwide Automotive
Connectors Market Analysis 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 Analysis 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 Analysis.
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Automotive Connectors Market Analysis: News and
Trends
- Standardization Efforts Streamline Manufacturing: The automotive industry is pushing for
increased standardization of connectors to reduce complexity and costs in
vehicle assembly. This trend is expected to benefit major connector
manufacturers with a strong presence in the automotive sector.
- Rise of Advanced Driver-Assistance Systems (ADAS): The growing adoption of ADAS features in
modern vehicles is driving demand for high-speed, reliable connectors that
can handle the increasing data flow between various sensors and control
units.
- Focus on Lightweight and Flame-Retardant Materials: As automakers prioritize fuel efficiency
and passenger safety, the demand for lightweight and flame-retardant connector
materials is on the rise.
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 Analysis 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
Analysis 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
Analysis 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 Analysis 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
Analysis 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
Analysis 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 Analysis 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 Analysis 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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