The global circular connectors market size is expected to reach USD 70.3 Billion in 2024 and USD 91.01 Billion by 2029. The market value is to grow at a CAGR of 5.3% during the forecast period.
The circular connector provides an optimum signal connection with the help of multi-pin interface connectors. These connectors provide secure connections to various fields, such as medical and industrial applications. The electric or transmission signals withstand harsh conditions as the connectors are made of high-quality materials. The demand for circular connectors is growing in automotive, consumer electronics, and others. The circular connectors are fixed with additional screws that keep impurities out to secure the surface. The design easily connects and disconnects signals, power, and optical circuits. The circular connectors are designed to fulfill essential applications in the medical and automotive industries. As the world is shifting from analog to digital, the connectors are to provide secure communication.
The rise in the number of automotive, medical, and consumer electronic industries is likely to drive the market's growth rate. Increasing utilization of data connectors for the safe transmission of data promotes the circular connectors market growth. The growing prevalence of digital technology everywhere is additionally leveraging the significance of the circular connectors market. The rising urban population, along with the increasing demand for consumer electronic devices, is anticipated to increase the market's growth rate to an extent. The launch of 5G services worldwide is also a factor surging the growth rate of the circular connectors market. Giving quality performance during the harsh environment is an additional factor for the market to grow in the coming years. Prevalence for advanced technology is likely to boost the demand in the circular connectors market.
The rising need for better and secure connectivity in automotive industries is to set growth opportunities for the circular connectors market. Furthermore, circular connectors are also broadly utilized in telecommunication industries to provide secure data transmissions, which is expected to boost the market's growth rate in the coming years.
However, the rising demand for the minimum space installation of panels with extreme performance is degrading the demand of the circular connectors market. The connectors are installed in array form, which requires a large space to have free accessibility to twist and lock. The loss of panel space is a major challenge for the market players. The high installation price is also impeding the growth rate of the market. The availability of low-quality products at minimum prices solely limits the market's demand to an extent. The complex structure of the panels and difficulty in finding the errors are declining the growth rate of the circular connectors market.
|
REPORT METRIC |
DETAILS |
|
Market Size Available |
2023 to 2029 |
|
Base Year |
2023 |
|
Forecast Period |
2024 to 2029 |
|
CAGR |
5.3% |
|
Segments Covered |
By Type, Application, And Region |
|
Various Analyses Covered |
Global, Regional and Country Level Analysis; Segment-Level Analysis; DROC; PESTLE Analysis; Porter’s Five Forces Analysis; Competitive Landscape; Analyst Overview of Investment Opportunities |
|
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
|
Market Leaders Profiled |
Amphenol, Molex, Sumitomo Wiring System, Delphi, Jonathon, IT, Belden, Source, TE Connectivity, Molex, LLC, Franz Binder GmbH & Co, PHOENIX CONTACT, ITT Inc, Japan Aviation Electronics Industry, Ltd, Shenzhen Deren Electronics co., LTD, and others |
The hybrid connectors segment is ruling with the prominent shares of the circular connectors market owing to rising awareness of the significant benefits of circular connectors in the medical field. The signal connectors segment is next in leading the dominant shares of the market. Finally, the data connectors segment will likely hit the highest CAGR in the coming years.
The industrial segment is gaining traction over the circular connectors market shares. The rising popularity of maintaining secure data transmission in industries is a major factor driving the demand of the industrial segment. The medical segment is expected to reach the highest CAGR by the end of 2027. The increasing Internet of things and the rise in the number of consumer electronic goods are fueling the market's demand.
North American circular connectors market has the dominant shares, whereas European circular connectors market shares are expected to rise eventually in the coming years. The presence of key players and the launch of innovative products are two major attributes for the market to grow in North America. Prevalence for advanced technologies is enhancing the growth rate of the market. Increasing demand for high-speed connectors is surging the demand for the installation of circular connectors in various industries. The rise in the number of data centers and the growing need for secure data transmission to provide quality output are lavishing the market's growth rate in North America. In addition, key players are investing more in defense & submarine cables, fueling the market's demand.
Europe's circular connectors market is expected to hit the highest CAGR in the coming years. The growing prevalence of the usage of circular connectors in the medical field is elevating the market's growth rate in Europe. The growth rate of the market is rising even more in emerging countries like Germany, the UK, Italy, Spain, and France.
Asia Pacific circular connectors market is esteemed to have prominent shares following North America. The increasing population is ascribed to bolstering the demand of the market in this region. India and Japan are major countries with the highest shares of the Circular connectors market. Increasing investments by key players and preference for technological developments are to surge the demand of the market in India. Also, growing disposable income is to outrage the shares of the market in Asia Pacific.
Middle East & Africa circular connectors market, is to grow at a slow pace during the forecast period. The rising prevalence of offering excellent telephony communication is to gear up the demand of the market in this region.
Latin America's circular connectors market is likely to have a significant growth rate in the future period.
Major Key Players in the Global Circular Connectors Market are Amphenol, Molex, Sumitomo Wiring System, Delphi, Jonathon, IT, Belden, Source, TE Connectivity, Molex, LLC, Franz Binder GmbH & Co, PHOENIX CONTACT, ITT Inc, Japan Aviation Electronics Industry, Ltd, Shenzhen Deren Electronics co., LTD, and others
By Type
By Application
By Region
Frequently Asked Questions
The market is driven by several factors including the growing demand for reliable and secure connectivity solutions in industries like automotive (especially with the rise of electric vehicles), aerospace, military, and industrial automation. The increasing use of circular connectors in IoT devices and renewable energy infrastructure is also contributing to market growth.
Technological advancements, such as the development of miniaturized and high-speed circular connectors, are expanding the applications of these connectors in areas like telecommunications, medical devices, and advanced manufacturing systems. Innovations in ruggedized and environmentally-resistant connectors are also driving adoption in harsh environment applications, such as aerospace and defense.
Emerging trends include the increasing adoption of miniaturized connectors for compact electronics, the integration of high-speed data transfer capabilities, and the development of environmentally-sealed connectors for rugged applications. There is also a growing demand for circular connectors that can support high-power applications, particularly in renewable energy and transportation sectors.
The automotive, aerospace, defense, and telecommunications industries are some of the largest contributors to the demand for circular connectors. The automotive industry's shift towards electric vehicles and connected cars, as well as the growing need for robust connectivity in military and aerospace applications, have significantly boosted market demand.
Related Reports
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 2500
Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM
Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: [email protected]
Reports By Region