Automotive
Connectors Market Overview:
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. The worldwide Automotive Connectors
Market 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.
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Automotive Connectors Market Analysis
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)
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.
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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