Circular Connectors Market Report 2024

This Circular Connectors market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The circular connectors market size has grown strongly in recent years. It will grow from $6.92 billion in 2023 to $7.4 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The expansion observed during the historical period can be linked to a growing acceptance of automation systems, a heightened application in industrial automation, a transition from analog to digital technologies, an increase in vehicle electrification, and a greater dependence on sustainable energy sources.

The circular connectors market size is expected to see strong growth in the next few years. It will grow to $9.7 billion in 2028 at a compound annual growth rate (CAGR) of 7%. The anticipated growth during the forecast period is driven by rising investments in infrastructure projects, sustainability efforts, industrialization, medical applications, research and development funding, and favorable government initiatives. Key trends during the forecast period include advancements in technology, military innovations, digital technologies, miniaturization, and new product introductions.

The growth of the automotive industry is expected to significantly boost the circular connector market. This expansion is fueled by factors such as lower interest rates that make consumer financing more accessible, a rising demand for electric and hybrid vehicles driven by environmental concerns, and advancements in autonomous driving technology that enhance vehicle attractiveness. Additionally, government incentives promoting automotive purchases and the expansion of emerging markets are broadening the consumer base. As automotive manufacturers invest in next-generation technologies and improved vehicle features, the demand for durable and high-quality circular connectors is increasing to support modern, interconnected automotive applications. For example, the European Automobile Manufacturers' Association reported in March 2024 that the EU car market grew robustly in 2023 by 13.9% compared to 2022, reaching a total of 10.5 million units. Thus, the automotive industry's growth is driving the circular connector market forward.

Leading companies in the circular connector market are focused on creating compact and versatile connectors that incorporate technologies such as C-coding compatibility to address the demand for space-efficient, high-performance solutions. C-coding ensures secure polarization and future compatibility with evolving industrial standards for consistent plug compatibility. For instance, in July 2024, Franz Binder GmbH & Co. Elektrische Bauelemente KG, a German manufacturer of circular connectors, launched the M8 12-pin circular connector. This compact and versatile interconnect solution is designed for industrial applications, especially in automation and sensor technology. It features an 8 mm thread diameter and offers high contact density while maintaining a small footprint, making it ideal for space-constrained settings. This connector supports various configurations and has a high Ingress Protection (IP67) rating, ensuring reliable performance in harsh environments. The updated design includes C-coding for compatibility with future standards, providing a future-proof solution with both screw and snap-in locking options.

In May 2024, Amphenol Corporation, a U.S.-based provider of electronic and fiber optic connectors, acquired the Carlisle Interconnect Technologies (CIT) business from Carlisle Companies Incorporated for $2.025 billion. This acquisition aims to enhance Amphenol's product portfolio in the interconnect and cable solutions market while broadening its customer base across various industries. Carlisle Interconnect Technologies (CIT) is a U.S.-based provider of high-performance circular connectors, wire, and cables.

Major companies operating in the circular connectors market are Eaton Corporation plc, TE Connectivity Ltd., Molex LLC, Amphenol Corporation, Phoenix Contact Deutschland GmbH, Rosenberger GmbH & Co. KG, ITT Inc., Belden Inc., Weidmüller Interface GmbH & Co. KG, HARTING Technology Group, Hirose Electric Co. Ltd., Glenair Inc., Radiall S.A., Souriau, LEMO SA, Smiths Interconnect, JAE Electronics Inc., Yamaichi Electronics Co. Ltd., Omega Engineering Inc., Fischer Connectors SA, Switchcraft Inc., Nicomatic, CUI Devices, Franz Binder GmbH & Co. KG, Cinch Connectivity Solutions.

Asia-Pacific was the largest region in the circular connector market in 2023 and is expected to be the fastest-growing region in the forecast period. The regions covered in the circular connectors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the circular connectors market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Circular connectors are cylindrical electrical components that incorporate multiple pins or contacts intended for the transfer of electrical power, signals, or data. Their sturdy construction offers protection against environmental challenges such as vibration, extreme temperatures, and dust, making them ideal for a range of industrial uses.

The primary categories of circular connectors consist of power connectors, data connectors, signal connectors, hybrid connectors, and additional types. Power connectors facilitate the flow of electrical current from a power source to a device, ensuring proper operation while accommodating high voltages and currents. Accessories for these connectors include adapters, backshells, clamps, boots, strain relief devices, caps, covers, keying plugs, seals, and more, serving various end-user industries such as automotive, healthcare, manufacturing, processing, marine, military, aerospace, mining, oil and gas, and utilities.

The circular connectors market research report is one of a series of new reports that provides circular connectors market statistics, including circular connectors industry global market size, regional shares, competitors with an circular connectors market share, detailed circular connectors market segments, market trends and opportunities, and any further data you may need to thrive in the circular connectors industry. This circular connectors market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The circular connectors market consists of sales of products such as miniature connectors, high-speed connectors, modular connectors, USB circular connectors, RF connectors, and waterproof connectors. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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