According to analysis by Market Research Future Reports (MRFR), the global automotive connectors market size is expected to reach an approximate value of $11 billion by 2032, growing at a CAGR of 8.5% during the forecast period.
Connectors are electromechanical components that play a crucial role in bridging electrical circuits. In the automotive industry, connectors are extensively used in various electronic systems to connect electrical equipment and wires.
The global automotive connectors market is primarily influenced by the increasing demand for security features in vehicles. Connectors are widely used in automotive security systems, and the rising concerns about vehicle theft have led to a higher demand for security systems in automobiles, contributing to the growth of the automotive connectors market. Additionally, the growing market for smart cars has increased the demand for connectors. Electrification in automobiles is another factor expected to impact the automotive connectors market positively.
However, there are certain challenges facing the market, including the lack of standardized protocols for advancing automotive connectors, concerns about the durability and reliability of connectors, and a shortage of skilled workers. On the bright side, the rising demand for high-performance and autonomous vehicles is creating opportunities for the expansion of the global automotive connectors market.
Market Segmentation:
The global automotive connectors market can be segmented based on vehicle type, connection type, application type, system type, and region.
- Vehicle Type: The market can be divided into commercial vehicles and passenger cars. The passenger car segment is expected to lead the market due to the increasing demand for passenger vehicles in both developed and developing nations.
- Connection Type: Segmentation includes wire-to-board, wire-to-wire, and board-to-board connections. The wire-to-board segment is expected to grow significantly, driven by the demand for electrical automobile inverters and battery management systems.
- Application Type: The market is segmented into engine control and cooling systems, body control and interiors, safety and security systems, and others. Safety and security systems are expected to hold the largest market share due to concerns about vehicle theft.
- System Type: Segmentation comprises unsealed connectors and sealed connectors. The sealed connector system segment is expected to dominate the market and grow robustly during the forecast period, driven by increased use in off-roading applications and commercial vehicles.
Regional Analysis:
The global automotive connectors market is divided into four main regions: Europe, North America, Asia-Pacific, and the Rest of the World (RoW).
- Asia-Pacific (APAC): This region is expected to dominate the automotive connectors market due to rising disposable income and increased production of electric vehicles in emerging countries such as India and China.
- Europe: The automotive connectors market in Europe is expected to grow due to stringent government regulations for vehicle and passenger safety and increasing consumer concerns about safety.
- North America: The North American market is expected to expand significantly, driven by the growing demand for autonomous and semi-autonomous vehicles and increased safety regulations for vehicles.
Key Players:
Key players in the global automotive connectors market include Delphi Automotive, Kyocera Corporation, TE Connectivity, Yazaki Corporation, Japan Aviation Electronics Industry, Sumitomo Electric, Amphenol Corporation, Hu Lane Associates Inc., Hirose Electric Co., Ltd, and Korea Electric Terminal Co. Ltd, among others.
