Industry Overview, Growth, Size, Opportunities and Forecast till 2027
SHERIDAN, WY, UNITED STATES, August 2, 2022 /EINPresswire.com/ — According to IMARC Group’s latest report, titled “Automotive Connectors Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global market reached a value of US$ 12.1 Billion in 2021. Automotive connectors refer to electromechanical components used for completing internal and external circuits in an automobile to ensure the continuous supply of electricity. Integrated circuits (IC), printed circuit boards (PCB), radio frequency (RF), and fiber optic connectors are some commonly used automotive connectors. They are widely used in internal wiring harnesses, safety and security, cooling, engine controls, power distribution, navigation, and infotainment systems. Automotive connectors ensure the safety, reliability, and connectivity of all critical components in automobiles and circuits during harsh conditions, such as high temperatures, vibrations, dust, and moisture.
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Automotive Connector Market Trends:
The global market is primarily being driven by significant growth in the electric vehicle (EV) industry. Automotive connectors are widely used in electronic components, batteries, sensors, cables, and electric powertrain systems to improve power deliverability and reliability. Furthermore, the rising demand for advanced safety features in automobiles, such as anti-theft locking, automatic braking, parking sensors, and adaptive cruise control, is acting as another growth-inducing factor. Additionally, the introduction of mechatronic connectors that offer a unified, multifunctional connector solution in a single package by integrating multiple contact geometries is providing an impetus to market growth. Other factors, including increasing demand for plastic optical fibers (POF) over copper cables to improve data transmission and design flexibility and the implementation of strict vehicle safety policies by governments, are anticipated to drive the market toward growth. Looking forward, IMARC Group expects the market to reach US$ 16.7 Billion by 2027, exhibiting at a CAGR of 5.94% during 2022-2027.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Global Automotive Connector Market Can Be Segmented as:
Competitive Landscape with Key Players:
Formerly Delphi Automotive PLC
Sumitomo Electric Industries Ltd.
Japan Aviation Electronics
Hirose Electric Co. Ltd.
Korea Electric Terminal Co. Ltd.
Hu Lane Associate Inc
Breakup by Connection Type:
Wire to Wire Connection
Wire to Board Connection
Board to Board Connection
Breakup by Connector Type:
Fiber Optic Connectors
Breakup by System Type:
Sealed Connector System
Unsealed Connector System
Breakup by Vehicle Type:
Light Commercial Vehicles
Heavy Commercial Vehicles
Breakup by Application:
Body Control and Interiors
Safety and Security System
Engine Control and Cooling System
Fuel and Emission Control
Navigation & Instrumentation
Breakup by Region:
Middle East and Africa
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Key highlights of the report:
Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape
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.
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