The global automotive connectors market 2020 is primarily affected by the increase in demand for security in automobiles. Connectors are used extensively in security systems in automobiles. With the rising theft in automobiles, there is an increased demand for security systems in the automotive which further results in the expansion of the automotive connectors market. With the boosting industry of smart cars, the demand and usage of connectors are constantly rising. This results in the expansion of the automotive connectors market. The rise in electrification in automobiles is also likely to bring an impact on the automotive connectors market in the region.
Nevertheless, several significant challenges pose obstacles to the advancement of automotive connectors, including the absence of fundamental protocols, concerns about durability and reliability, and a shortage of skilled workers. However, a silver lining emerges as the surging demand for high-performance and autonomous vehicles opens up avenues for the global automotive connectors market to expand.
Key players in the global automotive connectors market include:
- Delphi Automotive (UK)
- Kyocera Corporation (Japan)
- TE Connectivity (Switzerland)
- Yazaki Corporation (Japan)
- Japan Aviation Electronics Industry (Japan)
- Sumitomo Electric (Japan)
The global automotive connectors market can be segmented based on vehicle type, connection type, application type, system type, and region.
- Vehicle Type: Segments include commercial vehicles and passenger cars. Passenger cars are expected to dominate throughout the review period due to increasing demand in both developed and developing nations.
- Connection Type: Segments encompass wire-to-board, wire-to-wire, and board-to-board. The wire-to-board segment is projected to experience significant growth during the review period, driven by the rising demand for electrical automobile inverters and battery management systems.
- Application Type: Segments include engine control and cooling systems, body control and interiors, safety and security systems, and others. Safety and security system-based devices are anticipated to capture the largest market share during the review period, primarily due to the increasing incidence of vehicle theft.
Regional Analysis of the Automotive Connector Market
In terms of region, the global automotive connectors market is primarily divided into Europe, North America, Asia-Pacific, and the Rest of the World (RoW).
- Asia-Pacific (APAC) is expected to dominate the automotive connectors market during the review period. This can be attributed to rising disposable incomes and the expansion of electric vehicle manufacturing in emerging nations like India and China.
- In Europe, stringent government regulations related to vehicle and passenger safety, along with increasing consumer safety concerns, are contributing to the expansion of the automotive connectors market in the region.