Power Connector Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 to 2029

Increasing automotive production to drive the overall sales

Power is vital when it comes to electronics. Power connectors act as the vital connection between a device and its power source. Power connectors are devices that enable an electrical current flow through it for the sole purpose of supplying a device with power. Power connectors are designed to carry both AC as well as DC supply. AC plugs and sockets make it possible to connect devices to a building's primary power supply. Depending on the national standards of the country you are in, these types of plugs and sockets vary in current rating, voltage, design and size. There are several standard types of non-interchangeable DC connectors, preventing users from accidentally trying to connect an incompatible socket and plug. These connectors are primarily used for transferring energy, and this is a task they do admirably. A considerable chunk of connectors are expected to consume the adoption of wireless technologies such as Wi-Fi, RF, and Bluetooth. This factor paves the way to witness growth for this market. Growing technology penetration, such as the Internet of Things (IoT), is expected to help increase demand for high-performance and secure data connectivity and transmission. This factor, in turn, may increase power connector demand.

Automotive To Lead The Global Market Throughout 2029

In terms of application, the automotive segment led the global power connectors market in 2020 and is anticipated to maintain its dominance throughout the forecast period. This segment accounted for a share of more than 38% in 2020. Technological advances have introduced many new vehicle safety features, such as adaptive cruise control, adaptive front lighting, lane departure warning, and park assistance. Such functions require a large number of sensors, components of electronics and ECUs. To establish reliable connectivity between these components, different types of connectors are used. In addition, the introduction of machine learning and V2V communication has increased the safety of the vehicle. Connectors play a crucial role in the smooth functioning of any vehicle and the many electronic devices it features, from power distribution to running GPS navigation-based features. Any malfunction in connectors may result in severe failure of the function. Manufacturers are thus focused primarily on research and development initiatives to produce high-quality connectors that provide continuous functioning.

Asia Pacific to Register a Considerable Growth Rate

Due to the increasing focus on energy management and technological advances, Asia-Pacific is expected to record a significant growth rate in the power connector market over the forecast period. The growing Asia-Pacific data center services (due to numerous multinational and domestic companies turning to colocation solutions and cloud service providers (CSPs)) are fueling the demand for power connectors in the region. Major companies such as Google too are planning to setup their data centers in China in order to cater to their growing businesses. This is mainly attributed to the low cost of manufacturing and labor. Similarly, Japan is expected to boost the data center services market with their primary colocation markets in Osaka, Tokyo, Nagoya and Indonesia. These countries give a boost to the growth of the market for power connectors.

Some of the key manufacturers operating in the global power connectors market include Molex, Igus, TE Connectivity, CLIFF Electronic Components, Amphenol, CUI, Samtec, Harwin, Foxconn, NBC, Hirose Electric, Bulgin, Belden, Furutech, ITT, GE, Kyocera, Glenair, Anderson Power Products, Methode Electronics, Aerospace Electronics, Phoenix Contact and Binder among others. Major players are adopting several marketing strategies such as acquisitions & mergers, product launch, product innovation, geographical expansion and partnerships in order to maintain their goodwill in the ever-competitive market.

Historical & Forecast Period

This research report presents the analysis of each segment from 2019 to 2029 considering 2020 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segment calculated for the forecast period from 2019 to 2029.

Report Scope by Segments

The Power Connector market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of global Power Connector market based on type, application and geography. Key segments covered in the report are as follows:

Type Segment (2019-2029; US$ Bn)

• Light Duty
• Medium Duty
• Heavy Duty

Application Segment (2019-2029; US$ Bn)

• Automotive
• Aerospace
• Data Communication
• Others

Geography Segment (2019-2029; US$ Bn)

• North America (U.S., Rest of North America)
• Europe (U.K., Germany, France, Rest of Europe)
• Asia Pacific (China, Japan, India, Rest of Asia Pacific)
• Rest of the World (Middle East & Africa, Latin Americ

Key questions answered in this report

• What are the major sustainability strategies followed by the market giants operating in the global ground power connectors market?
• What are the major, innovative & emerging technologies in the global power supply industry?
• What are the key applications in which Power Connector plays a considerable role?

Unique data points of this report

• Key trends across major regions and their countries in terms of the penetration of Power Connector across different applications
• Analysis of major developments, strategies and winning imperatives adopted in the global power supply industry
• Attractive investment proposition for segments as well as geography
• Competitive landscape and profiles of major companies operating in the global Power Connector market

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