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(Transportation-News.com, October 01, 2021 ) The global Automotive Connector Market is estimated to surpass $23.5 billion mark by 2026, growing at an estimated CAGR of more than 6.8% during the forecast period 2021 to 2026. The key drivers of the market can be attributed to the increase in the number of electronic components used in cars and the increase in demand for automotive safety systems, navigation systems and power train. From the last decades, the increasing use of electrical components in the engine and gearbox compartment is projected to increase demand for Automotive Connectors over the forecast period. The rising demand for miniaturization has led to focus on reduction of connector housing and the connector itself for applications ranging from printed circuit board, data, power through to optical fiber connectors.
Automotive Connector Market Segment Analysis -By Material
Plastic connectors are having major demands in the industrial connectors market replacing the traditional metal connectors. As compared to metal ones, plastic connectors are more cost effective and offer a light weight design with improved flexibility. Various types of plastic compounds are being used for making industrial connectors which is raising its market demand towards industrial requirements in harsh environments. Plastic connectors have been dominating the automotive connectors market with its high use, in some demanding applications such as engine as well as in control applications. This rising adoption of plastic connectors is fuelling the market demand, along with eliminating the use of metal based connectors due to compact nature of automotive requirements. This has also caused slowdown in market demand towards metal based connectors despite the overall market witnessing fast growth.
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Automotive Connector Market Segment Analysis -By Vehicle Type
The passenger vehicles sector dominates the Automotive Connector market with 69% share in 2020 driven by significant adoption in luxury and high end vehicles. Key drivers for Automotive Connector segment were the increase in the number of electronic components used in cars and the increase in demand for automotive safety systems. From the last decades, the increasing use of electrical components in the engine and gearbox compartment is projected to increase demand for Automotive Connectors over the forecast period. This is especially prevalent in Commercial vehicles where the number of electronic components is rising at a significant rate.
Automotive Connector Market Segment Analysis - By Geography
APAC remains the major market for Automotive Connector driven by significant automotive production in the region with a share of 37.5% in 2020. Despite the effect of Covid-19, China will remain the major market for Automotive Connectors in the APAC market. It is expected that the demand profile for vehicle sales in China is promising in the medium to long term, and that the country will remain the largest car market in the world in the coming future, directly increasing the growth of the Asia-Pacific’s Automotive Connector market. Automotive OEMs need to change their manufacturing and customer base footprints, supply chains, and product offerings to growing geographic and segment supply and demand patterns; and the evolving Chinese after-sales market offers new growth opportunities.
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Automotive Connector Market Drivers
Installation and Easy Handling Benefits
Thin rising capability of connectors is making them easier to handle and install when making connections. Now a days manufacturers are offering thinner and has a smaller size connectors, making it easier to handle and move manually. It is also highly flexible and ensures that the installation surface does not break or shave despite exertion on the connectors that makes it much easier to control and feed the cable through confined spaces and ducts while dealing with vehicles.
Rising Applications in Automotive Sector
Rapid growth of automotive industry has been acting as a major driver towards the rising growth of industrial connectors market. Safety systems installed in vehicles such as brakes, seat belts and many others deploy on connectors for the connection purpose. Safety systems are an essential part of a vehicle infrastructure, which causes high dependency of industrial connectors by the automobile companies. Moreover, with the growing global population, automobiles are already facing high demands in the market, ultimately pushing the demands for these connectors.
Automotive Connector Market Challenges
Design Complexity
Designing of connectors is a major challenge faced by the automotive connectors market, thus hampering its growth. Design engineers face problems while balancing out the compact designs along with offering high performance levels. Miniaturization and designing very small size high voltage power connectors without compromising with the durability offered device robustness in the harsh environments is the major issue faced by in the connectors market. Additionally, repeated connector connection and disconnection causes wear and tear issues, thus causing operation failures.
Automotive Connector Market Landscape
Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Automotive Connector Market. TE Connectivity, Amphenol, JST, JAE, Rosenberger, Molex, Sumitomo, AVX Delphi Automotive, Yazaki and others are considered to be the key players of the Automotive Connector Market
Acquisitions/Technology Launches/Partnerships
In June 2019 Amphenol acquired GJM Group, a Spain-based company of interconnect assemblies for the automotive market.
In January 2019, Amphenol acquired SSI Control Technologies, the sensor manufacturing division of SSI Technologies, Inc. SSI Control Technologies is a leading designer and manufacturer of sensors and sensing solutions for the global automotive and industrial markets.
Key Takeaways
Assistance devices deal with critical situations semi-autonomously or alert the driver. Traction control, automatic stability control, collision warning and an alert for system safety or lane departure. Signal cables are required to operationally incorporate them into the vehicles.
As the available space stays the same, miniaturization plays an important role on the one hand, and multi-function on the other.
Many wires built in a vehicle and then, consider installing only one device that incorporates many cables. Installing a single unit is obviously very quick compared to multiple units. Moreover, this also reduces the risks of incorrect wiring possibilities.
Related Reports:
A. Automotive Cable Market
https://www.industryarc.com/Research/Automotive-Cable-Market-Research-507602
B. Automotive Terminal Market
https://www.industryarc.com/Research/Automotive-Terminal-Market-Research-501185
For more Automotive Market reports, please click here
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Venkat Reddy
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Source: EmailWire.Com 
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