The Latin America low voltage electrical connectors market size is expected to reach $1.62 billion by 2027 from $1.01 billion in 2019, growing at a CAGR of 6.88% from 2020 to 2027.
Electrical connectors are devices that join electrical circuits together. These are one of the key elements used by various industries to transfer data and to provide high end connectivity among end points. In addition, rise in government initiatives to improve connectivity within the country and surge in demand for higher bandwidth network by different industries is expected to drive growth of the Latin America low voltage electrical connectors market. There is a significant demand for high bandwidth in the telecom industry and cloud applications. Wired transmission connection offers greater bandwidth, enhanced reliability & agility, and improved security in comparison to wireless communication.
Rise in demand for high bandwidth connectors, growth in adoption of connectors in the telecommunication sector, and high investments in the construction sector are the prominent factors that drive growth of the Latin America low voltage electrical connectors market. Construction industry offers several investment opportunities for companies, given the country’s ambitious scope for infrastructure modernization, developing smart cities, and improving logistics and transportation routes.
The construction sector is growing at a tremendous pace, especially in developing countries such as Mexico and Brazil, with an increase in participation from both public and private market players. Some of the major drivers of the construction sector are industrial corridors, smart cities projects, and increase in demand for commercial spaces such as hotels, offices, retail, and entertainment units.
Moreover, rise in initiatives to increase connectivity in rural areas is anticipated to provide lucrative opportunities for expansion of the Latin America low voltage electrical connectors industry during the forecast period. In addition, lack of key broadband infrastructure connecting many homes in the country has resulted in increased connection challenges, which have been exacerbated by the COVID-19 crisis.
The Latin America low voltage electrical connectors market is segmented on the basis of type, application, and countries. On the basis of type, the market is classified into PCB connectors, TAB connectors, plug & socket connectors, terminal strip connectors, terminal blocks connectors, and others. The applications covered in the market include HVAC, electrical power, industrial, factory automation, fire & security, electronics & communication, automotive, public infrastructure, and others.
Market trends for Latin America are analyzed across Mexico, Colombia, Costa Rica, Chile, Panamá, Argentina, and rest of Latin America. Mexico accounted for the highest market share, owing to expansion of the electronics and telecommunication market. The key players operating in the market include TE Connectivity, WAGO, Weidmuller, WECO Contact GmbH, and PHOENIX CONTACT GmbH & Co. KG., Panduit, Molex, LLC, Amphenol Corporation, and Dinkle International Co. Ltd.
Electrical connectors are devices that join electrical circuits together. These are one of the key elements used by various industries to transfer data and to provide high end connectivity among end points. In addition, rise in government initiatives to improve connectivity within the country and surge in demand for higher bandwidth network by different industries is expected to drive growth of the Latin America low voltage electrical connectors market. There is a significant demand for high bandwidth in the telecom industry and cloud applications. Wired transmission connection offers greater bandwidth, enhanced reliability & agility, and improved security in comparison to wireless communication.
Rise in demand for high bandwidth connectors, growth in adoption of connectors in the telecommunication sector, and high investments in the construction sector are the prominent factors that drive growth of the Latin America low voltage electrical connectors market. Construction industry offers several investment opportunities for companies, given the country’s ambitious scope for infrastructure modernization, developing smart cities, and improving logistics and transportation routes.
The construction sector is growing at a tremendous pace, especially in developing countries such as Mexico and Brazil, with an increase in participation from both public and private market players. Some of the major drivers of the construction sector are industrial corridors, smart cities projects, and increase in demand for commercial spaces such as hotels, offices, retail, and entertainment units.
Moreover, rise in initiatives to increase connectivity in rural areas is anticipated to provide lucrative opportunities for expansion of the Latin America low voltage electrical connectors industry during the forecast period. In addition, lack of key broadband infrastructure connecting many homes in the country has resulted in increased connection challenges, which have been exacerbated by the COVID-19 crisis.
The Latin America low voltage electrical connectors market is segmented on the basis of type, application, and countries. On the basis of type, the market is classified into PCB connectors, TAB connectors, plug & socket connectors, terminal strip connectors, terminal blocks connectors, and others. The applications covered in the market include HVAC, electrical power, industrial, factory automation, fire & security, electronics & communication, automotive, public infrastructure, and others.
Market trends for Latin America are analyzed across Mexico, Colombia, Costa Rica, Chile, Panamá, Argentina, and rest of Latin America. Mexico accounted for the highest market share, owing to expansion of the electronics and telecommunication market. The key players operating in the market include TE Connectivity, WAGO, Weidmuller, WECO Contact GmbH, and PHOENIX CONTACT GmbH & Co. KG., Panduit, Molex, LLC, Amphenol Corporation, and Dinkle International Co. Ltd.
KEY MARKET SEGMENTS
By TYPE
- PCB Connectors
- TAB Connectors
- Plug and Socket Connectors
- Terminal Strip Connectors
- Terminal Blocks Connectors
- Others
By APPLICATION
- HVAC
- Electrical Power
- Industrial
- Factory Automation
- Fire and Security
- Electronics and Communication
- Automotive
- Public Infrastructure
- Other
By REGION
- Latin America
- Mexico
- Colombia
- Costa Rica
- Chile
- Panamá
- Argentina
- Rest of Latin America
KEY PLAYERS
- TE CONNECTIVITY LIMITED
- WAGO
- Weidmuller
- WECO Contact GmbH
- PHOENIX CONTACT GmbH & Co. KG
- Panduit
- Molex, LLC
- Amphenol Corporation
- Dinkle International Co. Ltd.
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: LATIN AMERICA LOW VOLTAGE ELECTRICAL CONNECTORS MARKET, BY TYPE
CHAPTER 5: LATIN AMERICA LOW VOLTAGE ELECTRICAL CONNECTORS MARKET, BY APPLICATION
CHAPTER 6: LATIN AMERICA LOW VOLTAGE ELECTRICAL CONNECTORS MARKET, BY COUNTRY
CHAPTER 7: COMPANY PROFILES
List of Tables
List of Figures
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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