The Latest Automotive Connectors Industry Statistics Explained
The global Automotive Connectors market is projected to reach USD 21.45 billion by 2026.
The statistic “The global Automotive Connectors market is projected to reach USD 21.45 billion by 2026” indicates the anticipated value of the automotive connectors market worldwide by the year 2026. This projection suggests a substantial growth in the market size, reflecting potential opportunities for businesses operating in this industry. Factors driving this growth may include technological advancements in automotive electronics, increasing demand for connected vehicles, and a rise in production and sales of automobiles globally. The figure of USD 21.45 billion serves as a forecasted metric for industry participants, policymakers, investors, and other stakeholders to understand the expected scale and significance of the automotive connectors market in the coming years.
Digitalizing the vehicle and increasing electronic fiscalities will produce a growth of approximately 21% by 2026 in the Automotive Connectors industry.
The statistic suggests that the trend towards digitalizing vehicles and enhancing electronic functionalities is expected to drive significant growth in the Automotive Connectors industry, leading to an estimated 21% increase by the year 2026. This growth is likely fueled by the increasing integration of advanced technologies in vehicles, such as electric vehicles, autonomous driving systems, and connected car features, all of which require sophisticated electronic components and connectors. As the automotive industry continues to evolve towards smart, connected vehicles, the demand for high-quality connectors to support these systems is projected to surge, presenting lucrative opportunities for companies operating in the Automotive Connectors sector.
Wire to Board connectors segment is deemed to grow at a faster rate due to increased demand in the automotive industry.
The statistic indicates that the Wire to Board connectors segment is expected to experience a higher growth rate compared to other segments, primarily driven by a surge in demand from the automotive industry. This suggests that there is a rising need for Wire to Board connectors in automotive applications, possibly due to advancements in automotive technology, increasing integration of electronic components in vehicles, or expanding production volumes in the automotive sector. The growth in this segment likely reflects the industry’s shift towards more sophisticated and connected vehicles, necessitating robust and reliable interconnect solutions like Wire to Board connectors to support the evolving needs of modern automotive systems.
Asia-Pacific region accounts for the largest share of the global Automotive Connectors market and is expected to grow at the fastest rate during the forecast period.
This statistic highlights that the Asia-Pacific region holds the highest proportion of the total market share in the Automotive Connectors industry globally and is projected to experience the most rapid growth over the specified forecast timeframe. This indicates that the demand for Automotive Connectors in countries within the Asia-Pacific region is strong and expanding at a faster pace compared to other regions. Factors driving this growth may include increasing vehicle production, rising adoption of advanced automotive technologies, and expanding automotive infrastructure in the region. The data implies significant opportunities for automotive connector manufacturers and suppliers to focus their efforts and investments in the Asia-Pacific market to capitalize on its growth potential.
TE Connectivity, Yazaki Corporation, and Delphi Automotive are known as the top leaders in the Automotive Connectors Market.
The statistic “TE Connectivity, Yazaki Corporation, and Delphi Automotive are known as the top leaders in the Automotive Connectors Market” implies that these three companies are recognized for their dominant position and market influence within the automotive connectors industry. This likely suggests that they have a significant market share, strong brand reputation, advanced technology, extensive product offerings, and established customer relationships. Being identified as top leaders in the industry indicates that these companies are considered as key players that drive innovation, set industry standards, and play a crucial role in shaping the direction and dynamics of the automotive connectors market.
The PCB automotive connector category held the largest market share, of 46.7%, in 2017.
The statistic that the PCB automotive connector category held the largest market share, of 46.7%, in 2017 means that among all types of automotive connectors used in the market in that year, those classified as printed circuit board (PCB) connectors accounted for the highest percentage of sales or revenue. This indicates that PCB automotive connectors were the most commonly used or most in-demand type of connectors by automotive manufacturers or consumers during that time period. The significant market share of 46.7% suggests that PCB automotive connectors were a dominant and influential product category within the automotive connector industry in 2017.
Asia-Pacific accounted for the highest revenue in the Automotive Connectors Market, garnering 39.4% share in 2017.
The statistic indicates that in 2017, the Asia-Pacific region generated the highest revenue within the Automotive Connectors Market, capturing a substantial market share of 39.4%. This suggests that the demand for automotive connectors in the Asia-Pacific region was significantly high compared to other regions, leading to a strong market presence and revenue generation. The dominance of the Asia-Pacific region in this market could be attributed to factors such as the rapid growth of the automotive industry in countries like China and India, increased vehicle production, technological advancements driving the need for more sophisticated connectors, and shifting consumer preferences towards innovative automotive technologies. This statistic underscores the significance of the Asia-Pacific region as a key player in the global Automotive Connectors Market in 2017.
The Passenger Cars application segment held approximately 76% of the total market share in 2017, due to the high production of these vehicles.
The statistic indicates that in 2017, the Passenger Cars application segment dominated the market with a market share of approximately 76%. This significant market share can be attributed to the substantial production volume of passenger cars during that period. The popularity and demand for passenger cars likely played a key role in driving this segment’s market share to such a high level. This statistic highlights the strong position of passenger cars in the market and underscores the importance of this application segment within the automotive industry during the specified year.
The global market for connectors in the automotive sector was around 14 billion euros in 2019.
The statistic “The global market for connectors in the automotive sector was around 14 billion euros in 2019” indicates the total estimated value of connectors sold and used within the automotive industry worldwide during the year 2019. Connectors play a crucial role in establishing electrical connections within vehicles for various components such as sensors, control units, and wiring systems. The significant market size of 14 billion euros reflects the high demand for connectors in the automotive sector and underscores their essential role in enabling the functionality and performance of modern vehicles. This statistic provides valuable insights into the scale and importance of the connector market within the automotive industry, highlighting the substantial economic value and impact of this specific market segment.
Market of connectors for safety and security system in automotive is projected to grow around 6% CAGR by 2025.
This statistic suggests that the market for connectors used in safety and security systems for automotive applications is expected to experience a compound annual growth rate (CAGR) of approximately 6% up to the year 2025. This indicates a positive trend in demand for connectors that play a critical role in ensuring the effectiveness and reliability of safety and security systems in vehicles. The projected growth highlights the increasing emphasis on safety features in automobiles and the integration of advanced security technologies, driving the need for more sophisticated connector solutions within the automotive industry.
The automotive connectors market in Europe is expected to grow at a CAGR of over 7% during 2020-2026.
This statistic indicates that the market for automotive connectors in Europe is projected to experience a Compound Annual Growth Rate (CAGR) of more than 7% between 2020 and 2026. This suggests a strong and steady growth trend in the demand for automotive connectors across the European region over the specified time period. Factors such as technological advancements in automotive systems, increasing vehicle production, and the growing emphasis on connected vehicles are likely driving this growth. Businesses operating in the automotive connector industry may find opportunities for expansion and development in the European market during this forecast period.
The Japan Automotive Connectors Market was valued at 137 Billion Yen in 2019.
The statistic “The Japan Automotive Connectors Market was valued at 137 Billion Yen in 2019” indicates the total worth of automotive connectors sold in Japan during the year 2019. Automotive connectors are essential components used in vehicle electrical systems to enable the transfer of signals and power between different components. The value of 137 Billion Yen signifies the monetary value of all automotive connectors sold in Japan in 2019, providing insight into the size and importance of the market for these components within the Japanese automotive industry.
The heavy commercial vehicles segment is expected to witness the highest CAGR of around 6% in the Automotive Connectors Market from 2021 to 2026.
This statistic indicates that the heavy commercial vehicles segment within the Automotive Connectors Market is anticipated to experience the highest Compound Annual Growth Rate (CAGR) of approximately 6% over the period from 2021 to 2026. This suggests that the demand for automotive connectors used in heavy commercial vehicles is expected to grow at a faster pace compared to other segments within the market. This growth may be attributed to factors such as increasing adoption of advanced technologies in heavy commercial vehicles, rising demand for connectivity solutions in the transportation industry, and the need for reliable and efficient electrical connections in these vehicles. Overall, this projection highlights the potential opportunities and growth prospects within the heavy commercial vehicles segment of the Automotive Connectors Market in the coming years.
The global Automotive Connectors market is predicted to reach 22 Billion USD by 2023, at a CAGR of 6.5%.
This statistic indicates that the global Automotive Connectors market is forecasted to grow to 22 Billion USD by the year 2023. This growth is expected to occur at a Compound Annual Growth Rate (CAGR) of 6.5%. The CAGR represents the average annual growth rate of the market over the specified period, in this case from the current year to 2023. A 6.5% CAGR suggests a steady and consistent growth trajectory for the market, indicating increasing demand for automotive connectors across various regions. This projection highlights potential opportunities for businesses operating in the automotive connector industry to capitalize on the growing market and potentially expand their market share.
References
0. – https://www.www.marketsandmarkets.com
1. – https://www.www.alliedmarketresearch.com
2. – https://www.www.researchandmarkets.com
3. – https://www.www.statista.com
4. – https://www.www.globalmarketmonitor.com
5. – https://www.www.globenewswire.com
6. – https://www.www.globalnewswire.com
7. – https://www.www.marketstudyreport.com
8. – https://www.www.business-standard.com
9. – https://www.www.arizton.com
10. – https://www.www.prnewswire.com
11. – https://www.www.fortunebusinessinsights.com
