Market Size of Automotive and Transportation Connector Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Automotive & Transportation Connector Market Analysis
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.
