Global Automotive Connectors Market to Reach $41 Billion by 2030
The global market for Automotive Connectors estimated at US$23.7 Billion in the year 2023, is expected to reach US$41 Billion by 2030, growing at a CAGR of 8.2% over the analysis period 2023-2030. Wire to Wire Connectors, one of the segments analyzed in the report, is expected to record a 7.8% CAGR and reach US$15.2 Billion by the end of the analysis period. Growth in the Wire to Board Connectors segment is estimated at 8.8% CAGR for the next 7-year period.
The U.S. Market is Estimated at $6.2 Billion, While China is Forecast to Grow at 11.8% CAGR
The Automotive Connectors market in the U.S. is estimated at US$6.2 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$9.9 Billion by the year 2030 trailing a CAGR of 11.8% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.6% and 7.4% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 5.3% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$5.9 Billion by the year 2030.
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