The global Automotive Connectors Market size is anticipated to reach USD 28.25 billion by 2025 at a CAGR of 7.4% during the forecast period, according to a new report by Grand View Research, Inc. Increasing demand for connectivity, convenience, and safety features in vehicles is anticipated to boost market growth. Moreover, growing demand for plug-in hybrid as well as electric vehicles is expected to stimulate market growth over the forecast period.
By
product, the other connectors segment emerged as dominant in the automotive
connectors market with an estimated share of over 74.0% in 2017. The segment
includes a wide variety of connector products such as heavy-duty, terminal
blocks, power/high voltage, and application-specific connectors. Rising vehicle
electrification owing to stringent emission norms has led to higher penetration
of electronic content per vehicle. The automotive industry is undergoing a
transition phase, with the introduction of driverless cars. Development of
autonomous vehicles has boosted research and development initiatives.
Furthermore, growing demand for vehicular communication is expected to
proliferate the market.
Wire
to wire is the most significant connectivity type for automotive connectors,
owing to increasing vehicle electrification. Usage of wires and cables in
automotive electronics has grown steadily over the last decade, owing to
introduction of new features and rise in vehicle sales. The wire to wire
connectors segment is expected grow over the forecast period with rising
implementation of convenience systems such as start-stop system, power
steering, and park assist.
The
commercial vehicle segment is likely to register a CAGR of 8.1% from 2018 to
2025. Growth can be attributed to increasing penetration of Advanced Driver
Assistant Systems (ADAS) features in commercial vehicles. For instance, the
European Union has made the inclusion of ADAS features such as lane departure
warning signal and autonomous breaking mandatory in heavy commercial vehicles
by 2020.
Navigation
is anticipated to emerge as the largest application segment for automotive
connectors. Segment growth can be attributed to rise in adoption of advanced
infotainment devices in vehicles as they offer user-friendly and accurate
navigational and other entertainment features. The safety and security
application segment is expected to account for share of over 26.0% by 2025.
Related Press
Release@ Automotive
Connectors Market Report
Automotive Connectors Market Report Highlights
- The global
automotive connectors market was valued at USD 15.58 billion in 2017 and
is expected to exhibit a CAGR of 7.4% from 2018 to 2025
- Fiber optic
connectors emerged as the fastest growing product segment, expanding at a
CAGR of 10.6% over the forecast period
- The wire to
board connector segment is expected to register a CAGR of 6.3% through
2025
- Asia Pacific
is anticipated to emerge as the most promising market for automotive
connectors by 2025, owing to increasing vehicle electrification in the
region
- Key players
such as YAZAKI Corporation, TE Connectivity, Sumitomo Corporation, and
Delphi Technologies dominated the global automotive connectors market
while accounting for the majority revenue share in 2017
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Automotive Connectors Market Segmentation
Grand
View Research has segmented the global automotive connectors market on the
basis of product, connectivity, vehicle type, application, and region:
Automotive Connectors Product Outlook (Revenue, USD
Million, 2015 - 2025)
- PCB
- IC
- RF
- Fiber Optic
- Other
Automotive Connectors Connectivity Outlook (Revenue, USD
Million, 2015 - 2025)
- Wire to Wire
- Wire to
Board
- Others
Automotive Connectors Vehicle Type Outlook (Revenue, USD
Million, 2015 - 2025)
- Passenger
Car
- Commercial
Vehicle
Automotive Connectors Application Outlook (Revenue, USD
Million, 2015 - 2025)
- CCE
- Powertrain
- Safety &
Security
- Body Wiring
& Power Distribution
- Navigation
& Instrumentation
Automotive Connectors Regional Outlook (Revenue, USD
Million, 2015 - 2025)
- North
America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Sweden
- Asia Pacific
- China
- India
- Japan
- South Korea
- Taiwan
- Latin
America
- Brazil
- Mexico
- Middle East
& Africa
- Kingdom of
Saudi Arabia
- United Arab
Emirates
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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