Connectors refer to electromechanical components that are essential for connecting electrical circuits. Within the automotive industry, the connectors are used in the automotive-oriented equipment for connecting electrical devices and wires. The study conducted by Market Research Future (MRFR) has been published in the form of a market research report, which has suggested that the global automotive connectors market size is likely to expand at 8.5% CAGR during the forecast period. One of the most primary drivers of the global automotive connectors market include the rise in security needs in automobiles. These automotive electric connectors are used in most security systems in automobiles. Owing to the rise in the theft of automobiles, a spike in the need for security systems in the automotive is noted, which is one of the major contributors to the ascension of the global automotive connectors market.
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Further, a rise in the electrification of vehicles is also creating lucrative opportunities for the automotive connectors market over the forecast period. Lack of standard protocols, for the development of automotive connectors, has led to higher reliability and durability of connectors, restraining the demand for car wire connectors. Furthermore, lack of skilled personnel is also poised to pose as a challenge in the global automotive connectors market over the forecast period. Alternatively, ascension in demand for high-performance vehicles and autonomous vehicles are providing growth opportunities for the global market.
The global automotive connectors market is studied for various segments to gain a deeper perspective in the functioning of the market. This segmentation has been carried out by connection type, system type, application type, vehicle type, and region. Based on connection type, the global automotive connectors market is segmented into wire-to-wire, wire-to-board, and board-to-board. The wire-to-board segment is likely to garner the largest share of the global automotive connectors market over the forecast period. This can be attributed to the mounting demand for electric vehicle’s inverter and battery management system.
Based on system type, the global automotive connectors electrical market is studied for the segments of sealed and unsealed connector system. The sealed connector system segment is likely to account for the largest share of the market in the forthcoming years. This segment is also estimated to gain significant growth rate over the forecast period owing to a rise in the number of off-roading applications and commercial vehicles.
Based on application type, the global automotive connectors market is segmented into engine control and cooling system, body control and interiors, safety and security system, and others. Among these segments, the global automotive connectors market led by safety and security system market which is projected to account for the largest market size over the forecast period.
Based on vehicle type, the global automotive connectors market is segmented into passenger car and commercial car. The passenger car segment is expected to dictate the global automotive connectors market.
Detailed Regional Analysis
The global automotive connectors market is studied for the regional segments of North America, Europe, Asia-Pacific, and the rest of the world. Asia Pacific is estimated to spearhead the global automotive connectors market over the assessment period owing to the rising disposable income and the booming manufacturing of electric vehicles, especially in developing countries such as India and China.
Europe, on the other hand, is anticipated to witness a mounting stringency in government regulations regarding various safety concerns among consumers, which is likely to contribute to the growth of the regional automotive connectors market.
Some prominent players prevalent in the global automotive connectors market include Connectivity (Switzerland), Delphi Automotive (UK), Yazaki Corporation (Japan), Sumitomo Electric (Japan), Japan Aviation Electronics Industry (Japan), Amphenol Corporation (US), Hirose Electric Co., Ltd (Japan), Hu Lane Associates Inc. (Taiwan), Korea Electric Terminal Co. Ltd (South Korea), and Kyocera Corporation (Japan).
Key Questions Addressed by the Report
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.2 RESEARCH OBJECTIVE
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
3 MARKET LANDSCAPE
3.1.1 THREAT OF NEW ENTRANTS
3.1.2 BARGAINING POWER OF BUYERS
3.1.3 THREAT OF SUBSTITUTES
3.1.4 SEGMENT RIVALRY
3.1.5 BARGAINING POWER OF BUYERS
3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS
4 MARKET DYNAMICS
4.2 MARKET DRIVERS
4.3 MARKET RESTRAINTS
4.4 MARKET OPPORTUNITIES
4.5 MARKET TRENDS
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