Global Automotive Connectors Market to be Driven by Rising Demand for Electric Vehicles (EVs) During the Forecast Period 2021-2026
Expert Market Research’s new report titled ‘Global Automotive Connector Trays Market Report and Forecast 2021-2026’, gives an in-depth analysis of the Global Automotive Connector Trays Market, assessing the market based on its segments such as the connection type, connector type, system type, vehicle type, application and major regions like North America, Europe, Asia-Pacific, Latin America, Middle East and South America. ‘Africa. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.
Note 1: For an overview of primary and secondary market data (2016-2026), along with business strategies and detailed market segmentation, please click on the sample demand report. The sample report will be delivered to you within 24 hours.
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Key highlights of the report include:
Market Overview (2016-2026)
- Forecast CAGR (2021-2026): 7.2%
The automotive connector market has witnessed substantial growth owing to factors such as increasing energy demand. Additionally, increased knowledge across different industries provides huge market opportunity for key players in the automotive connectors market. The global automotive connector market is driven by increasing adoption of advanced automotive safety features and growing demand for electric vehicles (EVs). Additionally, the global demand for automotive wiring harnesses and connectors has increased as the complexity of automotive sensors and infotainment systems has increased. To improve data transmission and design performance while reducing overall vehicle weight, automakers are replacing copper cables with plastic optical fiber (POF). POF requires the use of automotive connectors to function properly. Additionally, to support Wi-Fi networks in autonomous vehicles, specialized automotive systems use memory and data storage connections. This, combined with a growing acceptance of hybrid vehicles, is driving the growth of the industry. In addition, various technical advances such as adaptive front lighting, stability control, parking assistance and departure warning systems, as well as the introduction of machine learning in autonomous vehicles, are expected to propel the automotive connector market forward in the coming years.
Industry definition and major segments
Automotive connectors are electrochemical components that connect multiple electrical circuits. They form a complete circuit by connecting electrical terminals and providing efficient communication and navigation between electronics and automotive safety devices. They consist of sockets or female sockets and male plugs located under the hood of the car. These connectors are used to integrate advanced security features into electrical components, such as anti-theft alarms, adaptive cruise control, keyless entry, and automatic emergency braking systems.
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Depending on the type of connection, the industry is divided into:
- Wire-to-wire connection
- Wire-to-board connection
- Board-to-board connection
Based on connector type, the industry is divided into:
- PCB connectors
- IC connectors
- RF connectors
- Fiber optic connectors
According to the type of system, the industry is divided into:
- Sealed connector system
- Unsealed connector system
According to the type of vehicle, the industry is divided into:
- Particular Cars
- Commercial vehicles
- Electric vehicles
On the basis of application, the industry is divided into:
- Bodywork and interior inspection
- Safety and security system
- Engine control and cooling system
- Fuel and emissions control
- Navigation and instrumentation
Regional automotive connector markets include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Geographically, the Asia-Pacific region, which includes China, Taiwan and Japan, dominates the global economy. These countries are the world’s leading manufacturers of electronic components for passenger cars and commercial vehicles. Due to the availability of low-cost labor, improved manufacturing facilities, and ample supply of raw materials, the region is a hub for exporting various types of auto parts. The increasing use of advanced driver assistance systems (ADAS) in commercial vehicles has made Europe one of the largest markets. Heavy-duty vehicles must have ADAS features such as a lane departure warning signal and autonomous separation, according to the European Union. Another major vehicle electrification hub, North America, is driving global demand.
Main market players
Major market players are TE Connectivity, Yazaki Corporation, Molex Incorporated, Sumitomo Electric Industries Ltd., among others. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
Note 2: As the novel coronavirus (COVID-19) continues to spread across the globe, our analysts are continuously monitoring the impact of this rapidly evolving situation on markets and consumer buying behaviors. Thus, our latest estimates and analysis on current market trends and forecasts will comprehensively reflect the effects of this emerging pandemic.
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