Automotive And Transportation Connector Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Market Overview

The automotive and transportation connector market is expected to grow at a CAGR of over 4% during the forecasted period (2020 - 2025)

• This market is majorly driven by growing electronics content in automotive like infotainment and safety systems and rising disposable incomes in emerging and developed countries. Nowadays, vehicles are equipped with heavy electronic components to control critical systems including airbags, GPS navigation etc. With rapidly increasing technology, the usage of electronic components in automobiles is also increasing. Growing demand for automotive safety requires sophisticated automotive sensors which are anticipated to increase demand for automotive connectors.
• The percentage share of electronics is increasing as a share of vehicle components. Growing demand for electronics is expected to escalate the demand for automotive connectors. Most of the electrical connections in a car are made of copper cables. Recently, manufacturers have started to replace copper cables with plastic optical fiber (POF) to increase data transmission, reduce vehicle weight, and increase design flexibility. Rising demand for POF in the automotive industry is projected to rise the demand for automotive connectors. A major opportunity in automotive connectors is the increasing acceptance of hybrid and electric vehicles across the world. Major automotive manufacturers intend to produce increasing number of electric vehicles.

Scope of the report

The automotive and transportation connector market report contains the latest trends and technological developments in the market, demand by Product Type, Application Type, Geographical analysis, and share of major players across the globe

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Key Market Trends

Increasing Electronic Components in Automobiles

Safety and security systems such as adaptive cruise control, ant-theft alarm system, lane departure warning, keyless entry, braking systems, and autonomous driving systems help in avoiding fatal accidents as well as provide greater security. Such advanced features are integrated within vehicle using considerable number of electronic components. Connectors play an essential role in delivering proper power distribution to these components. Manufacturers are investing into developing superior connector technology at low price to withstand harsh operation conditions such as high/low temperature, wear and tear, and dirt.  Increasing vehicle electrification among different vehicle segments has boosted the demand for connectors. Further growing awareness regarding eco-friendly mobility has plunged sales of electric vehicles, thereby driving demand for automotive connectors. It is anticipated that over 150 hybrid electric vehicle models are going to be launched during the forecasted period, which creates an immense opportunity for manufacturers of connectors.

Regulations also play an important role in shaping the market. The proposed ban on internal combustion engine (ICE) vehicles in different countries led to increasing adoption of electric vehicle. For example Norway has set 2025 as the target year for ban on ICE vehicles. China has announced ban by 2030. This amplifies the scope of vehicle electrification, thereby increasing the demand for automotive and transportation connectors market during the forecasted period.

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