High voltage connectors Market Forecasts to 2030 – Global Analysis By Types (Multi-pin high voltage connectors, Single-pin high voltage connectors and Other Types), Rated Voltage, Number of Positions, Orientation of Connector, End User and By Geography

High voltage connectors Market Forecasts to 2030 – Global Analysis By Types (Multi-pin high voltage connectors, Single-pin high voltage connectors and Other Types), Rated Voltage, Number of Positions, Orientation of Connector, End User and By Geography

According to Stratistics MRC, the Global High voltage connectors Market is accounted for $2,117.8 million in 2023 and is expected to reach $5,364.8 million by 2030 growing at a CAGR of 14.2% during the forecast period. High voltage (HV) applications in AC, DC, and RF are the most common use cases for HV connectors. These connectors enable the transmission of high voltage signals without endangering the safety of the operators. A high voltage connector is one that can handle more than 1 kVAC. In critical-risk environments like those found in the medical, aerospace, and test & measurement industries, high voltage connector solutions guarantee efficiency and safety.

According to International Energy Outlook 2021 published by Energy Information Administration (EIA), global energy consumption is expected to grow by nearly 50% by 2050.

Market Dynamics

Driver

Increasing demand for electric vehicles

Alternatives to conventional mechanical fastenings include high voltage connections, which offer a quicker and more secure connection. Longer battery life and higher performance for the vehicle may result from this. Excellent high voltage connector quality also offers alternatives for mating and unmating connectors that are simple to use. Additionally, stylish, lightweight, and portable, these high voltage connectors offer such qualities. So, it is anticipated that the market will see significant demand as the demand for electric vehicles rises.

Restraint

High voltage connector design challenges

At greater voltages, there may be issues due to the connector design, operating circumstances, and mechanical construction. Corona discharge happens when the area around the high voltage conductors is highly charged and ionised. When an electrical stress results in a dielectric's molecular structure breaking down, arcing happens in high voltage conductors. When the insulator fails, electrical sparks result from current flowing from the high voltage wire to the ground, preventing market growth.

Opportunity

Increased efficiency and enhanced safety

These connectors offer greater efficiency because there is less resistance and power loss. This results in financial savings for the owner. Wear and tear, vibration, and corrosion are less likely to cause these connectors to malfunction. As a result, they are more dependable and secure than conventional mechanical fastenings, which may become loosened over time and result in an electrical short circuit or other problems. Therefore, these are the elements driving the market's expansion.

Threat

High initial cost

The expense of insulting the conductors rises with high voltage. Transformers, switches, and other electrical components, such as circuit breakers, are more expensive when there is high voltage. Since higher voltages carry a higher risk, strict safety measures are needed. However, it is anticipated that a shortage of skilled workforce may impede the market's expansion in the production of high voltage connections.

Covid-19 Impact

The sudden advent of the COVID-19 pandemic undoubtedly put many industries on hold, which increased the availability of work from home opportunities globally. As a result, there was an increase in demand for consumer electronics including tablets, laptops, and smartphones on the global market. High-speed and compact power connectors are needed for aerospace and military applications in order to link equipment with power in constrained spaces, maintaining safety and supplying enough power for adaptive control systems, auto emergency breaking, etc.

The single-pin high voltage connectors segment is expected to be the largest during the forecast period

The single-pin high voltage connectors segment is estimated to have a lucrative growth, due to its benefits like they are available as cable-assembly, protective shield feasible. The single pin high voltage connectors come with a variety of mounting options and gaskets to fit any system design, and they are appropriate for applications with operating voltage up to 100kVDC. With mating cycles up to 100k and high performance PTFE insulating material available.

The passenger vehicles segment is expected to have the highest CAGR during the forecast period

The passenger vehicles segment is anticipated to witness the fastest CAGR growth during the forecast period, due to increasing sales of cars. Personal vehicles are provided by passenger vehicles, enabling single people or small groups to travel at their own discretion. They provide flexibility in departure times and directions, making it simpler to work with particular schedules and preferences. The market is expanding due to an increase in the sales of passenger cars in developing countries.

Region with Largest share

Asia Pacific is projected to hold the largest market share during the forecast period owing to the presence of advanced technology manufacturers and product developer. Electric vehicle adoption in developing nations is expanding, providing a plethora of market potential for power connection producers. The adoption of electric vehicles as a result of growing public concern over air pollution has increased demand for power connectors in automotive applications.

Region with highest CAGR

Europe is projected to have the highest CAGR over the forecast period, owing to large number of fine automotive manufacturers. Growing investments have been seen in the setup of production facilities for both industrial and consumer electronics. During the projected period, it is anticipated that a strong automotive sector, an increase in the number of electric and hybrid vehicles, and government measures will sustain demand throughout the region.

Key players in the market

Some of the key players profiled in the High Voltage Connectors Market include Hirose Electric Co., Ltd., TE Connectivity, Sumitomo Electric Industries Ltd., Continental Engineering Services, Amphenol Corporation, Aptiv, Molex, Rosenberger Group, JST, Fujikura Ltd., Yazaki Corporation and Koch Enterprises Inc.

Key Developments

In June 2023, TE Connectivity (TE), a world leader in connectivity and sensors, partners with tacterion, a leading tactile sensing company based in Munich, aiming to provide smart touch and force sensor technology supporting the digitization of industrial processes.

In March 2023, Sumitomo Electric Industries, Ltd. and US Conec Ltd. announce the execution of a definitive license agreement enabling Sumitomo Electric Lightwave, Corp. to manufacture MMC connector and TMT ferrule components for the deployment of next-generation, high-density, multi-fiber cabling solutions.

Types Covered
• Multi-pin high voltage connectors
• Single-pin high voltage connectors
• Other Types

Rated Voltages Covered
• 800-1,000V
• 630-800V
• Below 630V

Number of Positions Covered
• 6 and Above
• 4 to 5
• Between 1-3

Orientation of Connectors Covered
• Right Angle
• Straight

End Users Covered
• Commercial vehicles
• Passenger vehicles
• Other End Users

Regions Covered
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements