The Global Automotive Connectors Market was worth US$ 12.89 billion in 2022 and is anticipated to reach a valuation of US$ 20.73 billion by 2028 and is predicted to register a CAGR of 8.53% during 2023-2028.
Market Overview:
Automotive connectors come in two types: sealed and unsealed. Most sealed connectors are used in engine compartments, and unsealed connectors are used inside vehicles. A wire-to-wire connection connects two end wires to form a circuit. In wire-to-board connectors, electrical connections through wire terminals are inserted into printed circuit boards (PCBs), and a circuit is created. A board-to-board connector is used to connect PCBs and other electrical components.
With the ascent in security worries among shoppers, combined with office wellbeing-related activities in Governments, the requirement for a dependable connector in different vehicle frameworks has expanded. For example, safety systems, such as seat belts, airbags, and brakes used in vehicles, require a connection system that includes a restraint system and a safety restraint connector. Therefore, the increasing demand for car security systems has a direct influence on the demand for car connectors, which in turn leads to market growth. In addition, the use of electronics in other applications has also increased, such as advanced and practical systems such as automatic transmissions and infotainment, which in turn is driving demand for beam cables in automobiles, which drives the need for connectors in these systems.
Market Drivers:
The worldwide market for car connectors is principally determined by expanding car security necessities. Connectors are used in most vehicle security structures. With the extension of in-vehicle robbery, there is an extended prerequisite for in-vehicle security systems, further inciting the advancement of the vehicle connector market. With the ascent of the shrewd vehicle industry, the utilization of connectors in savvy vehicles is expanding. This prompts the development of the car connector market. The development in vehicle charge is in like manner expected to help the vehicle connector market in the region.
Market Restraints:
The absence of standard conventions for the advancement of auto connectors, the unwavering quality and solidness of the connectors, and the absence of talented laborers are viewed as the key elements confining the development of this market. Be that as it may, the developing interest in superior vehicles and independent vehicles offers development openings for the worldwide market.
Market Key Developments:
Delphi Automotive PLC has consented to an authoritative arrangement to secure Antaya Technologies Corp., further fortifying the organization's portfolio in the quickly developing car electrical connectors industry.
TE Connectivity introduces a range of 48-volt connectors for automotive manufacturers. The end-to-end line of connectors satisfies the requirement for prequalified connectors that meet the necessities of new 48-volt electrical frameworks.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2022 – 2028 |
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Base Year |
2022 |
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Forecast Period |
2023 - 2028 |
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CAGR |
8.53% |
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Segments Covered |
By Application, Vehicle Type, Connectivity, Product, and Region. |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
Amphenol (the U.S), Delphi Automotive (U.K.), Sumitomo Electric (Japan), TE Connectivity (Switzerland), Hirose Electric Co. Ltd (Japan), Japan Aviation Electronics Industry, Ltd (Japan), Molex (the U.S), ERNI International AG (Switzerland), Yazaki Corporation (Japan), and China Auto Electronics Group Limited (China), and Others. |
Market Segmentation:
The security and protection systems-based equipment segment is expected to represent the largest market size during the forecast period due to an increase in vehicle theft. Improving the safety and security of vehicles is a growing concern for automakers and governments; As a result, automakers began installing dedicated electronic control units (ECUs) at all critical levels of vehicle systems, including the powertrain, steering, and brake systems.
The passenger car segment is estimated to be dominant throughout the forecast period due to the growing demand for passenger cars in emerging and developed countries.
The wire-to-board segment is expected to grow at a significant rate during the forecast period due to the increasing demand for inverters and battery management systems (BMS) for electric vehicles. Based on the type of system, the global market has been divided into sealed and unsealed connector systems. The Sealed Connector Systems segment is estimated to have the largest share of the global market and is expected to grow at a rapid pace over the forecast period due to an increase in the number of off-road applications and commercial vehicles.
Market Regional Analysis:
The Global Automotive Connectors Market Report includes the segmentation of regions:
North America is a center for the electrification of vehicles. The region represented a share of more than 25.0% in 2017.
Europe is the second largest market, thanks to the increasing inclusion of Advanced Driver Assistance Systems (ADAS) in commercial vehicles. The European Union has made it mandatory to include ADAS features such as the lane departure warning sign and autonomous braking in heavy vehicles.
Asia-Pacific dominated the world market with a 36.0% share in 2017. Asian nations, for example, China, Taiwan, and Japan are the primary producers of electronic parts for passenger vehicles and business vehicles. The region is an export hub for various types of auto parts, due to the availability of low-cost labor, better manufacturing facilities, and the immediate availability of raw materials.
COVID-19 has transformed into a worldwide emergency, advancing at a rapid scale. No industry is insusceptible to this emergency and designing and development is no exemption. Building and development organizations must act presently to save the honesty of their tasks and ensure their kin.
The gauge for worldwide development in 2020 has been modified from 3.1 percent down to 0.5 percent. But the emergency may likewise speak to a remarkable chance - even a need - to unravel a portion of the business' recorded difficulties and to plan for an increasingly advanced future.
The COVID-19 event is currently moving around the world, a path of destruction in its wake. This report analyzes the impact of the virus on large companies in the industrial automation industry. The report looks at the impact of COVID-19 on the global industrial automation industry. Identify companies that will appreciate the impact of COVID-19 in the amount of 12 months, in the same way as companies that will lose. It includes a thematic screen that ranks the top 58 companies in this industry on the idea of global leadership on the ten topics that matter most to your business, as well as COVID-19. This generates a number one indicator of future performance.
Market Key Players:
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