The global automotive connectors market size is expected to reach USD 10.72 billion by 2030. The market is estimated to expand at a CAGR of 6.7% from 2024 to 2030. Increasing demand for connectivity, convenience, and safety features in vehicles is anticipated to boost market growth. Moreover, growing demand for plug-in hybrid as well as electric vehicles is expected to stimulate market growth over the forecast period.
By product, the other connectors segment emerged as dominant in the automotive connectors market with an estimated share of over 74.0% in 2017. The segment includes a wide variety of connector products such as heavy-duty, terminal blocks, power/high voltage, and application-specific connectors. Rising vehicle electrification owing to stringent emission norms has led to higher penetration of electronic content per vehicle. The automotive industry is undergoing a transition phase, with the introduction of driverless cars. Development of autonomous vehicles has boosted research and development initiatives. Furthermore, growing demand for vehicular communication is expected to proliferate the market.
Wire to wire is the most significant connectivity type for automotive connectors, owing to increasing vehicle electrification. Usage of wires and cables in automotive electronics has grown steadily over the last decade, owing to introduction of new features and rise in vehicle sales. The wire to wire connectors segment is expected grow over the forecast period with rising implementation of convenience systems such as start-stop system, power steering, and park assist.
The commercial vehicle segment is likely to register a CAGR of 8.1% from 2018 to 2025. Growth can be attributed to increasing penetration of Advanced Driver Assistant Systems (ADAS) features in commercial vehicles. For instance, the European Union has made the inclusion of ADAS features such as lane departure warning signal and autonomous breaking mandatory in heavy commercial vehicles by 2020.
Navigation is anticipated to emerge as the largest application segment for automotive connectors. Segment growth can be attributed to rise in adoption of advanced infotainment devices in vehicles as they offer user-friendly and accurate navigational and other entertainment features. The safety and security application segment is expected to account for share of over 26.0% by 2025.
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By product, the other connectors segment emerged as dominant in the automotive connectors market with an estimated share of over 74.0% in 2017. The segment includes a wide variety of connector products such as heavy-duty, terminal blocks, power/high voltage, and application-specific connectors. Rising vehicle electrification owing to stringent emission norms has led to higher penetration of electronic content per vehicle. The automotive industry is undergoing a transition phase, with the introduction of driverless cars. Development of autonomous vehicles has boosted research and development initiatives. Furthermore, growing demand for vehicular communication is expected to proliferate the market.
Wire to wire is the most significant connectivity type for automotive connectors, owing to increasing vehicle electrification. Usage of wires and cables in automotive electronics has grown steadily over the last decade, owing to introduction of new features and rise in vehicle sales. The wire to wire connectors segment is expected grow over the forecast period with rising implementation of convenience systems such as start-stop system, power steering, and park assist.
The commercial vehicle segment is likely to register a CAGR of 8.1% from 2018 to 2025. Growth can be attributed to increasing penetration of Advanced Driver Assistant Systems (ADAS) features in commercial vehicles. For instance, the European Union has made the inclusion of ADAS features such as lane departure warning signal and autonomous breaking mandatory in heavy commercial vehicles by 2020.
Navigation is anticipated to emerge as the largest application segment for automotive connectors. Segment growth can be attributed to rise in adoption of advanced infotainment devices in vehicles as they offer user-friendly and accurate navigational and other entertainment features. The safety and security application segment is expected to account for share of over 26.0% by 2025.
Automotive Connectors Market Report Highlights
- The fiber optic segment is expected to register a fastest CAGR of 9.6 % over the forecast period. Safety during the transmission, its compact size and flexibility in terms of design are some of the key drivers for the segment growth.
- The wire-to-wire segment held a market share of 32.10 % in 2023. For power distribution and data transmission these connectors are widely used because of their seamless power transmission and communication between various electrical components.
- The passenger car segment dominated the market capturing 73.7% in terms of revenue in 2023. The increasing sales of passenger cars in highly populated and developing countries such as China, India are driving the market.
- The safety and security segment held the largest share of 25.6 % in 2023. Technological advancements have introduced various safety features in vehicles, including adaptive front lighting, adaptive cruise control, park assistance and lane departure warning.
- Asia Pacific dominated the market by capturing the largest revenue share of 40.3 % in 2023 and is expected to grow at the fastest CAGR of 10.0% over the forecast period.
The leading players in the Automotive Connectors market include:
- TE Connectivity
- Aptiv PLC
- Amphenol Corporation
- Yazaki Corporation
- Molex Incorporated
- Sumitomo Electric Industries, Ltd.
- Hirose Electric Co., Ltd.
- JST Manufacturing Co., Ltd.
- Kyocera Corporation
- Rosenberger Group
Why should you buy this report?
- Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
- Competitive Landscape: Explore the market presence of key players worldwide.
- Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
- Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.
This report addresses:
- Market intelligence to enable effective decision-making
- Market estimates and forecasts from 2018 to 2030
- Growth opportunities and trend analyses
- Segment and regional revenue forecasts for market assessment
- Competition strategy and market share analysis
- Product innovation listing for you to stay ahead of the curve
- COVID-19's impact and how to sustain in these fast-evolving markets
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Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Automotive Connectors Market Variables, Trends, & Scope
Chapter 4. Automotive Connectors Market: Product Estimates & Trend Analysis
Chapter 5. Automotive Connectors Market: Connectivity Estimates & Trend Analysis
Chapter 6. Automotive Connectors Market: Vehicle Estimates & Trend Analysis
Chapter 7. Automotive Connectors Market: Application Estimates & Trend Analysis
Chapter 8. Automotive Connectors Market: Regional Estimates & Trend Analysis
Chapter 9. Competitive Landscape
Companies Mentioned
The leading players in the Automotive Connectors market include:- TE Connectivity
- Aptiv PLC
- Amphenol Corporation
- Yazaki Corporation
- Molex Incorporated
- Sumitomo Electric Industries, Ltd.
- Hirose Electric Co., Ltd.
- JST Manufacturing Co., Ltd.
- Kyocera Corporation
- Rosenberger Group
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 80 |
| Published | September 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 6.89 Billion |
| Forecasted Market Value ( USD | $ 10.72 Billion |
| Compound Annual Growth Rate | 6.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
