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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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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Global Automotive Connector Market Can Be Segmented as:-
Competitive Landscape with Key Players:
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