Automotive Connectors Market Size 2027: Projected Growth and Opportunities | Techsci ResearchPosted by Kumar on April 27th, 2023 The value of the Global Automotive Connectors market is expected to grow at a CAGR of over 7% due to the increasing number of autonomous vehicles, the rise in automobile production globally, and the increasing number of electronic components. In 2021, wire-to-board connection segment holds the largest market share in the automotive connector market, mainly because of the rising demand for automotive safety systems and the increase in the number of electronic components. This segment is estimated to maintain the largest market share in terms of value during the forecast period. The APAC region is the largest market for automotive connectors globally due to the growing consumer income level and the increasing vehicle production in the region. Delphi Automotive, Sumitomo Electric Industries Ltd., Molex Incorporated, Yazaki Corporation, Japan Aviation Electronics Industry, Ltd., JST Mfg. Co., Ltd., AVX Corporation, Amphenol Corporation, Hirose Electric Co.,Ltd, and Foxconn Technology Group are among the key players in the Automotive Connectors industry. Automotive connectors serve as electrochemical elements that connect multiple electrical circuits. They provide efficient communication and navigation between the safety devices and electronics of a vehicle by joining electric terminals to complete the circuit. These connectors, which include female-ended jacks or sockets and male-ended plugs, are located under the hood of the automobile. Advanced safety and security features such as anti-theft alarms, adaptive cruise control, keyless entry, and auto emergency braking systems rely on these connectors to integrate with electrical components. Recent developments and trends in the automotive connector market include joint ventures, new product launches, and acquisitions. In September 2021, Lear Corporation announced a joint venture with Hu Lane Associate Inc. to engineer and manufacture a range of connection systems products for current and future vehicle architectures offered by global automakers. JAE Electronics developed MX79A Automotive Infotainment Connectors in February 2021 for use in automotive navigation systems, advanced driver assistance systems, backup cameras, and in-vehicle entertainment. Additionally, Lear Corporation signed a joint development agreement with IMS Connector Systems GmbH in June 2021 to specialize in high-speed Ethernet solutions for automotive applications. In September 2021, TE Connectivity acquired ERNI Group AG to complement its broad connectivity product portfolio, especially in high-speed and fine-pitch connectors for automotive, factory automation, medical, and other industrial applications. HARTING Technology Group expanded its IX Industrial® line of miniature data connector products in January 2021 with new cable assemblies for infotainment and passenger information systems and other product variants. This solution is ideal for infotainment and passenger information systems in trains and buses and significantly smaller and lighter than the comparable circular connectors commonly used in railway applications. Browse full report stats, tables and figures- https://www.techsciresearch.com/report/global-automotive-connectors-market/1675.html Objective of the Study
To perform the study, TechSci Research conducted primary as well as exhaustive secondary research. Initially, TechSci Research prepared an exhaustive list of Automotive Connectors manufacturers operating globally. Subsequently, TechSci Research conducted primary research surveys, which include primary calls, email responses, etc., with the identified companies. While interviewing, the respondents were also asked about their major competitors. Through this technique, TechSci Research could include manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analysed product offerings and regional presence of all major Automotive Connectors supplier across the globe. TechSci Research calculated the market size for global Automotive Connectors using a bottom-up technique, wherein manufacturers’ volume sales data for different types of warehouse vehicles, were recorded as well as forecast for the future years. TechSci Research sourced these values from industry experts and company representatives, and externally validated through analysing historical sales data of respective manufacturer to arrive at the overall market size. Multiple secondary sources such as directories, Company Websites, company annual reports, white papers, investor presentations and financial reports were also used by TechSci Research. Key Target Audience:
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Automotive Connectors manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion. Report Scope: In this report, global Automotive Connectors market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
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