The
global Automotive
Connectors Market size is expected to reach USD 10.72 billion by
2030, according to a new report by Grand View Research, Inc. The market is
estimated to expand at a CAGR of 6.7% from 2024 to 2030. Increasing demand
for connectivity, convenience, and safety features in vehicles is anticipated
to boost market growth. Moreover, growing demand for plug-in hybrid as well as
electric vehicles is expected to stimulate market growth over the forecast
period.
By
product, the other connectors segment emerged as dominant in the automotive
connectors market with an estimated share of over 74.0% in 2017. The segment
includes a wide variety of connector products such as heavy-duty, terminal
blocks, power/high voltage, and application-specific connectors. Rising vehicle
electrification owing to stringent emission norms has led to higher penetration
of electronic content per vehicle. The automotive industry is undergoing a
transition phase, with the introduction of driverless cars. Development of
autonomous vehicles has boosted research and development initiatives. Furthermore,
growing demand for vehicular communication is expected to proliferate the
market.
Wire
to wire is the most significant connectivity type for automotive connectors,
owing to increasing vehicle electrification. Usage of wires and cables in
automotive electronics has grown steadily over the last decade, owing to
introduction of new features and rise in vehicle sales. The wire to wire
connectors segment is expected grow over the forecast period with rising
implementation of convenience systems such as start-stop system, power
steering, and park assist.
The
commercial vehicle segment is likely to register a CAGR of 8.1% from 2018 to
2025. Growth can be attributed to increasing penetration of Advanced Driver
Assistant Systems (ADAS) features in commercial vehicles. For instance, the
European Union has made the inclusion of ADAS features such as lane departure
warning signal and autonomous breaking mandatory in heavy commercial vehicles
by 2020.
Navigation
is anticipated to emerge as the largest application segment for automotive
connectors. Segment growth can be attributed to rise in adoption of advanced
infotainment devices in vehicles as they offer user-friendly and accurate
navigational and other entertainment features. The safety and security application
segment is expected to account for share of over 26.0% by 2025.
List of Key Players of Automotive Connectors Market
- TE
Connectivity
- Aptiv PLC
- Amphenol
Corporation
- Yazaki
Corporation
- Molex
Incorporated
- Sumitomo
Electric Industries, Ltd.
- Hirose
Electric Co., Ltd.
- JST
Manufacturing Co., Ltd.
- Kyocera
Corporation
- Rosenberger
Group
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Connectors Market Report
Automotive Connectors Market Report Highlights
- The fiber
optic segment is expected to register a fastest CAGR of 9.6 % over the
forecast period. Safety during the transmission, its compact size and
flexibility in terms of design are some of the key drivers for the segment
growth.
- The
wire-to-wire segment held a market share of 32.10 % in 2023. For power
distribution and data transmission these connectors are widely used
because of their seamless power transmission and communication between
various electrical components.
- The passenger car segment dominated the market
capturing 73.7% in terms of revenue in 2023. The increasing sales of
passenger cars in highly populated and developing countries such as China,
India are driving the market.
- The safety
and security segment held the largest share of 25.6 % in 2023.
Technological advancements have introduced various safety features in
vehicles, including adaptive front lighting, adaptive cruise control, park
assistance and lane departure warning.
- Asia Pacific
dominated the market by capturing the largest revenue share of 40.3 % in
2023 and is expected to grow at the fastest CAGR of 10.0% over the
forecast period.
Automotive Connectors Market Segmentation
Grand
View Research has segmented global automotive connectors market report based on
product, vehicle, application, connectivity, and region:
Automotive Connectors Product Outlook (Revenue, USD
Billion, 2020 - 2030)
- PCB
- IC
- RF
- Fiber Optic
- Other
Automotive Connectors Connectivity Outlook (Revenue,
USD Million, 2020 - 2030)
- Wire to Wire
- Wire to
Board
- Other
Automotive Connectors Vehicle Outlook (Revenue, USD
Million, 2020 - 2030)
- Passenger Car
- Commercial
Vehicle
Automotive Connectors Application Outlook (Revenue,
USD Million, 2020 - 2030)
- CCE
- Powertrain
- Safety &
Security
- Body Wiring
& Power Distribution
- Navigation
& Instrumentation
Automotive Connectors Regional Outlook (Revenue, USD
Billion, 2020 - 2030)
- North
America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- Latin
America
- Brazil
- Middle East
and Africa (MEA)
- South
Africa
- Saudi
Arabia
- UAE
About Us:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
