According to IMARC Group’s latest report, titled “Automotive Connectors Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, the global automotive connectors market size reached US$ 12.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 17.7 Billion by 2028, exhibiting a growth rate (CAGR) of 6.34% during 2023-2028.
Factors Affecting the Growth of the Automotive Connectors Industry:
- Technological Advancements in Vehicles:
The automotive connectors market is experiencing substantial growth due to technological advancements in the automotive industry. As vehicles become more advanced with features like advanced driver-assistance systems (ADAS), electrification, and connectivity, the demand for sophisticated and reliable connectors has surged. These connectors play a crucial role in enabling data transfer, power distribution, and communication between various vehicle components. With the automotive sector continually pushing the boundaries of innovation, connector manufacturers are under pressure to develop cutting-edge solutions that can handle higher data speeds, power requirements, and temperature ranges. This technological evolution is a driving force behind the growth of the automotive connectors market.
- Increasing Emphasis on Vehicle Safety:
Safety remains a top priority in the automotive industry, and this focus on safety systems is a key factor fueling the growth of the automotive connectors market. Advanced safety features such as airbags, antilock braking systems (ABS), and electronic stability control (ESC) rely heavily on connectors to ensure proper functionality. Moreover, the rise in the production of electric and hybrid vehicles, which require specialized connectors for high-voltage systems, further boosts the demand. As regulations become more stringent globally, vehicle manufacturers are compelled to integrate advanced safety technologies, creating a sustained need for advanced connectors.
- Growing Electric Vehicle (EV) Adoption:
The shift towards electric vehicles is a significant factor driving the growth of the automotive connectors market. With the increasing environmental concerns and government incentives to reduce carbon emissions, electric vehicles are gaining traction. These vehicles require intricate electrical systems and connectors to manage high-voltage power distribution, battery charging, and communication between electric components. As consumers and automotive manufacturers embrace the electric mobility revolution, the demand for specialized connectors designed for EVs is on the rise. This surge in EV adoption is reshaping the automotive connectors market landscape and presenting lucrative opportunities for connector manufacturers to cater to this evolving segment.
Download Sample Brochure: https://www.imarcgroup.com/automotive-connectors-market/requestsample
Automotive Connectors Market Report Segmentation:
Based On Connection Type:
- Wire to Wire Connection
- Wire to Board Connection
- Board to Board Connection
By connection type, wire to board connection represented the largest segment due to their widespread use in vehicle control systems, where reliable and secure connections are essential.
Based On Connector Type:
- PCB Connectors
- IC Connectors
- RF Connectors
- Fiber Optic Connectors
- Others
By connector type, PCB connectors represented the largest segment due to their integral role in electronic circuitry, which is central to modern automotive design.
Based On System Type:
- Sealed Connector System
- Unsealed Connector System
By system type, sealed connector system represented the largest segment due to their ability to protect against environmental factors like moisture and dust, crucial for vehicle reliability.
Based On Vehicle Type:
- Passenger Cars
- Commercial Vehicles
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Electric Vehicles
By vehicle type, passenger cars represented the largest segment, reflecting their higher production volumes and the extensive use of connectors in personal transportation vehicles.
Based On Application:
- Body Control and Interiors
- Safety and Security System
- Engine Control and Cooling System
- Fuel and Emission Control
- Infotainment
- Navigation & Instrumentation
- Others
By application, safety and security systems represented the largest segment as the increasing focus on vehicle safety is driving the demand for advanced electronic safety features.
Based On Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Region wise, Asia Pacific emerged as the largest market, driven by the region’s booming automotive industry, high manufacturing capabilities, and rising demand for vehicles.
Global Automotive Connectors Market Trends:
The increasing complexity and functionality of modern vehicles demand more sophisticated electrical systems, is driving the market growth. Moreover, the rise in production and adoption of electric vehicles (EVs) is significantly contributing to the demand for high-performance connectors. Additionally, technological advancements in automotive electronics, such as infotainment systems and driver assistance technologies, necessitate the use of reliable and efficient connectors. Furthermore, the growing emphasis on vehicle safety and fuel efficiency is also propelling the development of innovative connector solutions in the automotive industry. This trend is reinforced by stringent regulatory standards and consumer expectations for higher-quality automotive components.
Leading Companies Operating in the Global Automotive Connectors Industry:
- TE Connectivity
- Aptiv
- Formerly Delphi Automotive PLC
- Yazaki Corporation
- Molex Incorporated
- Sumitomo Electric Industries Ltd.
- Amphenol Corporation
- Japan Aviation Electronics
- Luxshare Precision
- JST Manufacturing
- Hirose Electric Co. Ltd.
- Korea Electric Terminal Co. Ltd.
- AVX Corporation
- Kyocera Corporation
- Rosenberger
- Hu Lane Associate Inc
- Samtec
- Lumberg Holding
Ask Analyst for Customization and Explore full Report with TOC & List of Figures: https://www.imarcgroup.com/request?type=report&id=1626&flag=E
Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Media Contact:
Company Name: IMARC Group
Contact Person: Elena Anderson
Email: [email protected]
Phone: +1-631-791-1145
Address: 134 N 4th St
City: Brooklyn
State: NY
Country: United States
Website: https://www.imarcgroup.com
About Author
