Global Automotive Connectors Market to Reach US$ 16.7 Billion by 2027, Bolstered by the Rising Demand for Electric Vehicles

January 17, 2022

The latest report by IMARC Group, titled “Automotive Connectors Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” finds that the global automotive connectors market size reached US$ 12.1 Billion in 2021. Automotive connectors are electrochemical devices used for connecting and disconnecting electrical lines and prefabricated parts to the given wiring harness. They play a crucial role in adequate power distribution to various components. Automotive connectors are generally designed to withstand high and low temperatures, dirt, and wear and tear. They also connect electric terminals to make a complete circuit and ensure that the electronics and safety gadgets communicate and navigate effectively. These connectors also integrate advanced functions into the vehicle and ensure that components receive correct power distribution. As a result, automotive connectors find application in advanced safety and security features such as anti-theft alarms, adaptive cruise control, keyless entry, and auto emergency braking systems.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report. 

Global Automotive Connectors Market Trends: 

The market is primarily driven by the rising demand for connectivity, convenience, and safety features in passenger as well as commercial vehicles. Connectors are placed under the hood of automobiles as they have the capacity to withstand high and sub-zero temperatures and shocks. They also aid in avoiding fatal accidents and provide greater levels of security. Besides this, the increasing electrification among different vehicle segments is also fueling the market growth. In addition to this, the growing awareness regarding eco-friendly mobility is facilitating the sales of electric vehicles, which has propelled the demand for automotive connectors. Furthermore, the effective functioning of plastic optical fiber (POF), which replaces copper cables, improves data transmission and design flexibility, is also significantly influencing the market growth. Looking forward, the market value is expected to reach US$ 16.7 Billion by 2027, exhibiting at a CAGR of 5.94% during the forecast period (2022-2027).

Market Summary: 

  • Based on the connection type, the market has been segmented into wire to wire, wire to board, and board to board connections.  
  • On the basis of the connector type, the market has been classified into PCB, IC, RF, fiber optics, and other connectors.
  • The market has been bifurcated based on the system type into sealed and unsealed connector system.
  • On the basis of the vehicle type, the market has been segregated into passenger cars, commercial vehicles (light and heavy commercial vehicles), and electric vehicles.
  • Based on the application, the market has been categorized into body control and interiors, safety and security system, engine control and cooling system, fuel and emission control, infotainment, navigation and instrument, and others.
  • Region-wise, the market has been divided into Asia Pacific, North America, Europe, Middle East and Africa, and Latin America.
  • The competitive landscape of the market has been examined, with some of the key players being TE Connectivity Corporation, Aptiv Global Operations Limited (Formerly Delphi Automotive PLC), Yazaki Corporation, Molex Incorporated, Sumitomo Electric Industries Limited, Amphenol Corporation, Japan Aviation Electronics Industry Limited, Luxshare Precision Industry Corporation Limited, JST Manufacturing, Hirose Electric Co. Limited, Korea Electric Terminal Corporation Limited, AVX Corporation, Kyocera Corporation, Rosenberger Hochfrequenztechnik GmbH & Co. KG, Hu Lane Associate Inc., Samtec, and Lumberg Holding.

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Global Automotive Connectors Market to Reach US$ 16.7 Billion by 2027, Bolstered by the Rising Demand for Electric Vehicles
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