Automotive Connectors Market Overview
The automotive connector market is expected to register a CAGR of over 6%, during the forecast period, 2020 - 2025. The increase in safety concerns among consumers, coupled with safety-related initiatives from government agencies, has elevated the requirement for a reliable connector in various vehicle systems. For instance, safety systems, like seatbelts, airbags, and brakes used in vehicles require a connection system comprising a retainer and safety restraint system connector. Thus, the increasing demand for automotive safety systems has a direct influence on the demand for automotive connectors, in turn, driving the growth of the market.
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Automotive Connectors Market - Geographical Overview
Europe region is expected to capture the largest automotive connectors market share
Euro NCAP released a few protocols on safety features, like autonomous emergency braking, driver monitoring, and child occupant protection, in 2018, and is anticipating to mandate these features in EU vehicles by 2020-2022. With growing regulations toward vehicle safety standards across every region, the adoption of safety and security systems in automobiles is expected to increase, which, in turn, will result in the demand for and usage of connectors during the forecast period. The increasing demand for electric and semi-autonomous vehicles in Europe is simultaneously impacting the usage of automotive connectors.
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Key Highlights of the Automotive Connectors Market
- The automotive connector market is highly fragmented due to the presence of many regional players. However, some of the major players, like TE Connectivity Ltd, Yazaki Corporation, J.S.T. Mfg. Co. Ltd, Amphenol Corporation, Aptiv PLC, and Sumitomo Wiring Systems Ltd, have captured significant shares in the market.
- The share of electric vehicles in the European region has increased by approximately 30% over the past two years and is expected to grow over the next five years, owing to the growing environmental concerns. Thus, the region is expected to witness high demand for automotive connectors during the forecast period.
- The usage of electronics in advanced and convenient application systems, like automatic transmissions and infotainment, has also been increasing. This is driving the demand for automotive wiring harnesses in automobiles, thereby, propelling the need for connectors in automotive systems.
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List of Key Players in the Automotive Connectors Market
- TE Connectivity Ltd
- Yazaki Corporation
- J.S.T. Mfg. Co. Lt.
- Molex Incorporated (Koch Industries Inc.)
- Amphenol Corporation
- Luxshare Precision Industry Co. Ltd
- Aptiv PLC
- Hirose Electric Co. Ltd
- Lumberg Holding
- Sumitomo Wiring Systems Ltd
*List Not Exhaustive
Mordor Intelligence has segmented the global automotive connectors market on the basis of application type, vehicle type, and geography:
- Application Type (Market Size & Forecast based on Revenue (USD million), 2018-2026)
- Comfort, Convenience, and Entertainment
- Safety and Security
- Body Wiring and Power Distribution
- Navigation and Instrumentation
- Vehicle Type (Market Size & Forecast based on Revenue (USD million), 2018-2026)
- Passenger Car
- Commercial Vehicle
- Geography (Market Size & Forecast based on Revenue (USD million), 2018-2026)
- Rest of Asia-Pacific
- North America
- United States
- Rest of North America
- United Kingdom
- Rest of Europe
- Rest of the World
- South Africa
- Other Countries
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