Global Connector Market Size, Share & Industry Trends Analysis Report By Product (PCB Connectors, RF Coaxial Connectors, Circular Connectors, I/O Connectors, Fiber Optic Connectors), By End User, By Regional Outlook and Forecast, 2023 - 2029

Global Connector Market Size, Share & Industry Trends Analysis Report By Product (PCB Connectors, RF Coaxial Connectors, Circular Connectors, I/O Connectors, Fiber Optic Connectors), By End User, By Regional Outlook and Forecast, 2023 - 2029

The Global Connector Market size is expected to reach $131 billion by 2029, rising at a market growth of 7.1% CAGR during the forecast period.

A connector is a tool or element that connects electrical or electronic circuits. Connectors can be used in a wide range of applications, including those in the aerospace, telecommunications, consumer electronics, and automotive industries. They can also vary significantly in terms of their size, shape, and design. Circular, rectangular, network, housing, board-to-board, and wire-to-board connectors are some examples of the various types of connectors that can be categorized based on their design and intended use. Additionally, the RCA cable connector used in gaming headphones and speakers has increased RCA cable connector sales.

Based on their performance traits, like their current and voltage ratings, contact resistance, and toughness & dependability, they can be distinguished. As they enable various components to communicate with one another and transfer signals or power, connectors are essential to the operation of many electrical and electronic systems. The connector market is the sector of the economy that develops, produces, and markets connectors for utilization in a variety of applications. As a result, the connector market is a very dynamic and competitive industry, with a large number of manufacturers and suppliers delivering a wide range of products to fulfill the needs of different industries and applications.

For audiovisual, power, and data applications, connections come in thousands of different configurations. Based on their intended use, connectors can be separated into four major groups. These are inline or cable connectors, chassis or panel connectors, PCB mount connectors, and splice or butt connectors. Permanently affixed inline or cable connectors allow a cable to be inserted into another terminal (such as another wire or a stationary instrument). Permanent chassis or panel connections, which are permanently attached to an equipment piece, allow users to connect a cable to a fixed device.

COVID-19 Impact Analysis

In response to the COVID-19 pandemic, many enterprises tried to improve the connection between cloud storage and device, which increased the demand for many different types of connectors, like connectors used in edge computing. The edge-computing connectors offered improved data protection mechanisms needed for sensitive data transmission. These connectors were in high demand due to the growing popularity of remote work and were heavily used in data transmission by the IT and industrial sectors. Therefore, the pandemic had a mixed impact on the connector market.

Market Growth Factors

A growing preference for digitalization

Businesses are incorporating AI, ML, and IoT technologies into their digital infrastructure. The emergence of technology has altered consumer choices. This alteration serves as an example of how organizations may change as a result of digitization. Previously manual government processes, such as filing taxes or applying for licenses, have undergone a significant change as a result of digitization. In addition, this digitization has led to a rapid increase in connected devices and data centers. Consequently, the growing adoption of 5G and rising demands for digitalization are fueling the expansion of the market.

Growing construction of new data centers and IT offices

Many large technology companies are investing significant resources in building new data center infrastructure, especially in the developing world, to increase their presence across the globe. An extensive network of connectors, including coaxial connectors, Ethernet connectors, optical fiber connectors, and others, must be installed to accommodate the growth in the number of information and technology (IT) data centers and hubs. The building of additional data centers is intended to help both public and private enterprises hasten the transformation process. All these elements are helping in the development of the market.

Market Restraining Factors

Highly fluctuating prices of raw materials

The manufacture of connectors requires various critical raw materials, including plastic-based parts like PVC grains and Teflon-related materials like ETFE, TFE, PTFE, and FEP, for the insulation of the cable and the conductors. Due to their superior conductivity and malleability, copper alloys are typically used as electrode material in connectors. The alternatives are beryllium copper, brass, and phosphor bronze. Another inert metal, like gold, nickel, or tin, is frequently deposited on the base electrode metal. Therefore, the fluctuating prices of these raw materials prevent the market from being stable, which in turn, is detrimental to the expansion of the market.

Product Outlook

Based on product, the connector market is characterized into PCB connectors, I/O connectors, circular connectors, fiber optic connectors, RF coaxial connectors, and others. The PCB connectors segment garnered the highest revenue share in the connector market in 2022. In recent years, the PCB connector demand has been driven by the rapidly expanding semiconductor sector. The segment will increase significantly as a result of the expanding applications for consumer electronics products like white goods and brown goods.

End User Outlook

On the basis of end user, the connector market is classified into consumer electronics, telecom, automotive, energy & power, aerospace & defense, and others. The automotive segment witnessed a significant revenue share in the connector market in 2022. The electrical systems in cars are designed to work with vehicle electrical connections. Modern automobiles use heavily networked, microprocessor-controlled systems that have undergone substantial evolution. As a result, reliable electrical connections and wiring are becoming more important. Automobile systems that require connections include those with computers, sensors, relays, lighting, ignition systems, radio receivers, and power windows and doors.

Regional Outlook

Region wise, the connector market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific segment procured the maximum revenue share in the connector market in 2022. According to the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), most fixed-broadband customers in the Asia Pacific region are from the East and Northeast. China's telecom network operators have incorporated fiber into every telecom application, including FTTx, intra- and inter-city connections, and mobile cellular networks.

The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; 3M Company, and Huawei Technologies Co. Ltd. are the forerunners in the Connector Market. Companies such as TE Connectivity Ltd., Amphenol Corporation, and Aptiv PLC are some of the key innovators in Connector Market.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 3M Company, ABB Ltd, Ametek, Inc., Aptiv PLC, Amphenol Corporation (Amphenol RF), Huawei Technologies Co. Ltd., Koch Industries, Inc. (Molex LLC), Nexans SA, Prysmian Group, and TE Connectivity Ltd.

Recent Strategies Deployed in Connector Market

Partnerships, Collaborations and Agreements:

Mar-2023: 3M entered into a collaboration with Guardhat, a company that manufactures connected safety software. This collaboration would help in providing the customers with more connected safety solutions and accelerated SIM Software development, SIM stands for Safety Inspection Management which would be transferred by 3M to Guardhat based on the agreement.

Jun-2022: Amphenol joins hands with ABB, a pioneering technology leader with a comprehensive offering for digital industries. This collaboration focused on fulfilling the arising needs of e-mobility, infrastructure, robotics, and transportation customers. Further, the collaboration would support the expansion of ABB’s existing product lines, which include Harnessflex cable management solutions, PMA cable and conduit systems, and Kopex cable protection.

Sep-2021: 3M Innovative Properties Co. entered into an agreement with Luxshare Technology Co., Ltd., a global developer of cable assembly and connector systems for automotive and enterprise applications. Luxshare Technology Co., Ltd has taken a global royalty-bearing patent license from 3M which would help server designers and manufacturers in selecting 3M™ Twin Axial Cable supply options for cloud and enterprise server applications with flexibility.

Jun-2021: Nexans signed a collaboration with ALPI, a provider of software and services for the design of electrical installations. This collaboration aims to simplify the combination of electric mobility in buildings by the unification of the Neobus solution from Nexans with Caneco BT from ALPI. This unification would help in the precise sizing of electrical networks for the installation of electric vehicle charging infrastructures (EVCIs).

Mergers and Acquisitions:

Apr-2023: Aptiv PLC took over KUM, a company engaged in the business of manufacturing highly engineered connectors and providing cable management solutions. This acquisition would help Aptiv PLC to expand its range of specialized connectors and cable management solutions and enhance its portfolio which would further assist its global market position.

Dec-2022: Aptiv has acquired Intercable Automotive Solutions, a provider of High-Voltage Busbars and Interconnect Solutions. This acquisition would help strengthen Aptiv’s position in the field of vehicle architecture systems and enhance the capability to design fully optimized high-voltage architecture solutions. This all would help in better delivery of technologies to the customers and more footprint expansion.

Jul-2022: TE Connectivity took over Linx Technologies, a leading RF components supplier in IoT markets. This acquisition would complement TE’s broad connectivity product offerings, especially in antenna and RF connectors for IoT. The acquisition further focused on expanding TE’s supply chain footprint as TE aims to expand its go-to-market capabilities in IoT markets.

Aug-2021: TE Connectivity completed the acquisition of ERNI Group AG, a leading firm in electronic connectivity for factory automation & automotive. The acquisition would support TE’s broad connectivity product portfolio, especially in high-speed & fine-pitch connectors for factory automation, medical, automotive as well as other industrial applications.

Geographical Expansions:

Feb-2023: Aptiv PLC expanded its geographic footprint with the opening of its new Technical Center campus in India, which is one of its largest sites. This expansion aims to focus on developing more connected, safer, greener mobility solutions.

Dec-2022: AMETEK Inc. with the help of its subsidiary AMETEK India expanded its geographic footprint by opening its new facility in Bangalore, India. This new facility would help in the expansion of AMETEK’s hub of innovation for numerous industries including aerospace & defense, automotive, high-precision metrology, etc. along with housing a Centre of Excellence which has the latest products offered by the company. This all would help in more enhanced customer support.

Jun-2022: TE Connectivity expanded its geographical footprints in Juárez, Mexico by opening a new building at its energy industry production facility. This expansion would double TE’s capacity to make power grid connectors and cable accessories, and solar products for the growing renewable energy market in the region.

Nov-2021: Nexans expanded its geographic footprint by opening its new facility in Charleston, South Carolina to produce high-voltage direct current subsea cables. This step would help to meet the increased demand for HVDC subsea cables as utilities.

Jan-2021: Nexans integrated its new plant in Morocco for the Telecom Systems Business Unit. This new plant would help the company to enhance its range of products by increasing the production capacity and offering better services to its customers. Things like fiber optic cable connectorization accessories for FTTH (Fiber to the Home), 5G, data center, and LAN (Local Area Network) applications would be produced in this plant.

Product Launches and Expansions:

Dec-2022: Amphenol RF expanded its range of black-plated connectors with the launch of its new N-type and SMA configurated connectors which are made for low-loss LMR cable types. These connectors are made up of durable materials, which include zinc and cobalt offering corrosive resistance for up to 48 hours from salt spray.

Jul-2022: Amphenol Industrial Operations expanded its existing Amphe-Lite connector series. This expansion aimed at meeting the rising demand for fiber optic interconnection applications in the oil and gas, medical, security, and grid industries.

Sep-2021: TE Connectivity launched NanoRF Edge, connectors for VITA 67.3 applications. The NanoRF Edge launched connector eliminates cables & offers higher density and ruggedness over SMPM and SMPS edge launch options. The NanoRF connector would meet the rigorous requirements of VITA 67.3 to provide a simple & standardized interface with VPX plug-in computing modules including tuners, RF switches, software-defined radios, and other embedded computing systems.

Scope of the Study

Market Segments covered in the Report:

By Product

PCB Connectors
RF Coaxial Connectors
Circular Connectors
I/O Connectors
Fiber Optic Connectors
Others
By End User

Telecom
Automotive
Consumer Electronics
Energy & Power
Aerospace & Defense
Others
By Geography

North America
US
Canada
Mexico
Rest of North America
Europe
Germany
UK
France
Russia
Spain
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Singapore
Malaysia
Rest of Asia Pacific
LAMEA
Brazil
Argentina
UAE
Saudi Arabia
South Africa
Nigeria
Rest of LAMEA
Companies Profiled

3M Company
ABB Ltd
Ametek, Inc.
Aptiv PLC
Amphenol Corporation (Amphenol RF)
Huawei Technologies Co. Ltd.
Koch Industries, Inc. (Molex LLC)
Nexans SA
Prysmian Group
TE Connectivity Ltd.
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