|Fastest Growing Market:||Asia-Pacific|
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The automotive connector market was valued at USD 6144.29 million in 2021, and it is expected to reach USD 8016.94 million in 2027, registering a CAGR of 4.53% during the forecast period (2022 - 2027).
The COVID-19 pandemic had a negative impact on the market, as there was a slight decline in vehicle sales due to several vehicles and component manufacturing facilities shutting down temporarily. However, with the gradual removal of lockdowns in several countries, the demand for vehicles has slightly increased.
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.
The market is primarily driven by technological advancements and innovation in systems. Rising adoption of navigation and infotainment systems, among others, have become standard features in most cars across the world. To connect these systems among one another, central electronic control unit automotive connectors are required.
Asia-pacific is expected to hold a dominant share in the market during the forecast period. The strong automotive industry and rising electric and hybrid vehicles coupled with government initiatives are anticipated to support demand across the region during the forecast period.
Scope of the Report
Connectors are primarily used to connect or disconnect electrical lines. In automobiles, different types of connectors, such as wire-to-wire connections, board-to-wire connections, and device connections, are used to connect or disconnect prefabricated parts or devices to the given wiring harness. The aforementioned connectors have been considered in the scope of the study.
The automotive connectors market was segmented by application, vehicle type, and geography. By application, the market is segmented into powertrain, comfort, convenience and entertainment, safety and security, body wiring and power distribution, and navigation and instrumentation.
By vehicle type, the market is segmented into passenger cars and commercial vehicles. By geography, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the World. For each segment, market sizing and forecast have been done on the basis of value (USD million).
|Comfort, Convenience, and Entertainment|
|Safety and Security|
|Body Wiring and Power Distribution|
|Navigation and Instrumentation|
Key Market Trends
The Comfort, Convenience, and Entertainment Segment to Hold a Significant Share in the Market
The comfort, convenience, and entertainment segment is expected to witness the fastest growth rate during the forecast period. Increased demand for convenience and user-friendliness in vehicles is expected to drive the comfort, convenience, and entertainment segment of market growth over the forecast period.
In addition to this, the evolution of air conditioning systems and HVAC systems, owing to technological proliferation, is expected to favorably impact connectors' growth during the forecast period. Major players in the market are manufacturing the connectors and entering acquisitions to meet the features in the vehicles. For instance,
- In February 2021, JAE Electronics developed MX79A Automotive Infotainment Connectors for use in automotive navigation systems, advanced driver assistance systems, backup cameras, and in-vehicle entertainment.
- In June 2021, Lear Corporation, a global automotive technology leader in seating and e-systems, announced that it had signed a joint development agreement with IMS Connector Systems GmbH, a technology company based in Löffingen, Germany, specializing in high-speed Ethernet solutions for automotive applications.
Therefore, innovations in advanced vehicles and the growing preference of consumers toward comfort and convenience are anticipated to increase the demand for connectors during the forecast period.
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Europe is Expected to Capture a Larger Market Share During the Forecast Period
Europe ranks top in implementing safety features in vehicles, while the Americas and Asia-Pacific follow the footprints of Europe. Growing demand for electrification of vehicles in the region, supportive government measures toward the development of the automotive industry in the country are anticipated to create a positive outlook for the growth of automotive connectors during the forecast period. For instance,
- The Government of Germany allocated EUR 4 million for reviving the automotive industry that was hit by the COVID-19 pandemic in 2020. Such initiatives are expected to increase the production of passenger cars and commercial vehicles during the forecast period, which is expected to drive the demand for automotive connectors.
Additionally, active developments to meet growing consumer demand, especially from electric vehicle industry manufacturers, are focusing on developing innovative solutions. For instance,
- In December 2020, TI Fluid Systems announced that it is expected to provide thermal coolant fluid-carrying loops for a range of vehicles across the Hyundai, Kia, and Genesis brands, starting with the Hyundai NE EV, a battery-electric compact crossover. The coolant fluid systems consist of engineered polymer lines almost entirely made from nylon material with quick connectors across various diameters for use in battery and thermal motor management.
In fact, because of rising awareness about safety and security features in vehicles, the manufacturers of the connectors also anticipated focusing on developing features to meet demand. For instance,
- In January 2021, HARTING Technology Group expanded its IX Industrial® line of miniature data connector products with new cable assemblies intended for infotainment and passenger information systems and other product variants. This solution is ideal for infotainment and passenger information systems in trains and buses. The connector is significantly smaller and lighter than the comparable circular connectors commonly used in railway applications.
- In December 2019, NORMA Group announced that it is expected to be supplying quick fuel connectors with steel housings to a French automobile manufacturer. The quick connectors are manufactured at NORMA Group’s plant in Guichen, France. This significantly reduces the risk of fuel leakage in the event of a collision and ensures greater safety for the driver and passengers.
Thus, owing to the development of the automotive industry, connectors are also likely to gain significantly during the forecast period in the European market.
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The automotive connector market is a moderately consolidated market due to the major players, like TE Connectivity Ltd, Yazaki Corporation, J.S.T. Mfg. Co. Ltd, Amphenol Corporation, Aptiv PLC, and Sumitomo Wiring Systems Ltd, capturing significant shares in the market. These companies are focusing on expanding their connector business globally to capture the growing trend of advanced electronics and safety systems in vehicles. For instance,
- In April 2021, TactoTek and Amphenol ICC announced that they are collaborating to develop automotive-grade in-mold connectors for TactoTek IMSE technology. Amphenol ICC will bring new technology products to customers with transformational technologies like TactoTek’s IMSE combined with Amphenol ICC’s automotive-grade MicroSpace connector platform and Duflex crimp technology.
- In March 2021, KYOCERA launched 0.4mm-Pitch 8152 series electronic connectors for automotive applications. It conforms to high-speed transmission standard MIPI D-PHY (2.5 Gbps), PCI Express Gen2 (5Gbps), and Gen3 (8Gbps). The frame is shielded for a robust design and EMI reduction suitable for demanding automotive applications.
- In February 2020, TE Connectivity (TE) launched an innovative broadband coaxial connector portfolio that meets the requirements of current and next-generation automotive camera systems. TE’s new camera connection solutions comprise of company’s proven FAKRA and MATE-AX miniaturized coaxial connectors in a connectivity solution that meets the requirements for robustness and flexibility of almost all automotive cameras.
- In September 2021, TE Connectivity (TE) announced that it had acquired ERNI Group AG (ERNI). The acquisition of ERNI complements TE’s broad connectivity product portfolio, particularly in high-speed and fine-pitch connectors for factory automation, automotive, medical, and other industrial applications.
- In September 2021, Aptiv PLC announced the upgrade of Aptiv Central Electric (Shanghai) Co. completed in Jiading's Anting Town, making it the largest manufacturing base of Aptiv Group's connectors globally.
- In June 2021, Amphenol announced that it now offers EMI Wind-Lok, a reverse bayonet connector designed to deliver high power from the source to load. This heavy-duty connector with EMI shielding is used in a variety of different markets, including wind turbines, offshore wind farms, electrical generators, and automotive charging systems.
- In May 2021, Yazaki Corporation (Yazaki) showcased the EEDDS solution (Electrical/Electronic Distribution and Display System), which integrates EEDS and HMI to optimize vehicle infrastructure systems. Battery pack solutions, cockpit concepts, and ultra-high-definition head-up displays (HUD) are also presented.
- In January 2021, Molex introduced an accelerometer-based road noise canceling (RNC) connector sensor, the first product in a new family of automotive active noise cancelation (ANC) sensors. These sensors may play a critical role in combatting unwanted road, wind, and HVAC car noise while reducing low-frequency sounds. In particular, eliminating frequent humming or droning noises coming from roads and tires is critical to decreasing “highway hypnosis” and driver fatigue.
Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1.2 Comfort, Convenience, and Entertainment
5.1.3 Safety and Security
5.1.4 Body Wiring and Power Distribution
5.1.5 Navigation and Instrumentation
5.2 Vehicle Type
5.2.1 Passenger Car
5.2.2 Commercial Vehicle
5.3.1 North America
220.127.116.11 United States
18.104.22.168 Rest of North America
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
188.8.131.52 Rest of Asia-Pacific
5.3.4 Rest of the World
184.108.40.206 South Africa
220.127.116.11 Other Countries
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles*
6.2.1 TE Connectivity Ltd
6.2.2 Yazaki Corporation
6.2.3 J.S.T. Mfg. Co. Lt.
6.2.4 Molex Incorporated (Koch Industries Inc. )
6.2.5 Amphenol Corporation
6.2.6 Luxshare Precision Industry Co. Ltd
6.2.7 Aptiv PLC
6.2.8 Hirose Electric Co. Ltd
6.2.10 Lumberg Holding
6.2.11 Sumitomo Wiring Systems Ltd
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Automotive Connector Market market is studied from 2018 - 2027.
What is the growth rate of Automotive Connector Market?
The Automotive Connector Market is growing at a CAGR of 4.53% over the next 5 years.
What is Automotive Connector Market size in 2018?
The Automotive Connector Market is valued at 6144 Million USD in 2018.
What is Automotive Connector Market size in 2027?
The Automotive Connector Market is valued at 8016 Million USD in 2027.
Which region has highest growth rate in Automotive Connector Market?
Asia-Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Automotive Connector Market?
Asia-Pacific holds highest share in 2021.
Who are the key players in Automotive Connector Market?
TE Connectivity Ltd, Aptiv PLC, Amphenol Corporation, Koch Enterprises Inc, Yazaki Corporation are the major companies operating in Automotive Connector Market.