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Increasing $15.264 billion in US dollars, connector industry sales increased +24.3% from 2020 to 2021. All regions recorded an increase with the ROW region showing the greatest increase in sales. On a percentage bases, Japan had the smallest increase in sales, only growing +19.1%. Japan was followed by North America, where sales increased +22.2% or $2,992.5 million. In US dollars, China had the greatest increase, increasing $4,794 million or +23.8%, followed by Europe, which increased $3,440.9 million.
As the research indicates, the strong double-digit growth in 2021, provided a much-needed boast to the five-year, 10-year, and 20-year compound annual growth rates. The negative growth experienced in 2019, coupled with the negative growth in 2020, had decreased the five-year, 10-year, and 20-year CAGR across all regions. Because the total world increase in 2021 was so strong, the five-year CAGR saw growth greater than it has seen since 2014. With mid-single digit growth forecasted in all regions in 2022, the five-year CAGR is anticipated to decrease from Y.6% to Y.5%, while the 10- and the 20-year will increase from Y.3% to Y.2% and Y.1% to Y.7% respectively.
Telecom/datacom was the largest end-use equipment sector for electronic connector products with 2021 shipments of $XX.301.3 million. It was anticipated that automotive, which has held this position for the last several years, would lose this position in 2020 due to the huge decline in automotive sales spurred by the COVID-19 pandemic, and that thought has carried over into 2021 due to the chip shortage. In 2019, automotive accounted for 23.7% of all connectors manufactured in 2019. In 2020, automotive accounted for YY.6%, and in 2021 accounted for 21.9%.
Read More: https://www.giiresearch.com/report/bs1065006-world-connector-market-handbook.html
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