LONDON, March 28, 2017 /PRNewswire/ --
"Growing demand for electrification in vehicle to drive the automotive connectors market"
The automotive connectors market was estimated to be USD 4.38 billion in 2016, and is projected to reach USD 6.28 billion by 2021. The market, in terms of value, is projected to grow at a CAGR of 7.46% from 2016 to 2021. Factors such as increasing electrification in vehicles will boost the demand for automotive connectors in the near future. The major restraint for the manufacturers is meeting the reliability and durability standards. The connector solutions are able to withstand both low and high frequency solutions. The reliability and durability concerns affect the overall efficiency.
"Safety and security is the fastest growing application in the automotive connectors market."
The safety and security application is expected to dominate the automotive connectors market. There has been a rapid increase in the number of technological advancements in vehicles. This can be attributed to the growing demand for features such as collision avoidance, lane departure etc. that increase the convenience and safety of passengers.
"Passenger cars: the fastest growing segment in the automotive connectors market"
Passenger cars are expected to constitute the fastest growing segment of the automotive connectors market, by vehicle type. This can be attributed to the introduction of various advanced safety features such as night vision, blind spot detection, and lane departure systems in passenger cars. These features spurred the growth of the automotive connectors market for passenger cars.
"Asia-Pacific: Fastest growing region of the automotive connectors market"
Asia-Pacific is estimated to dominate the automotive connectors market, and is projected to grow at the highest CAGR during the forecast period. The market growth in this region can be attributed to the improving socio-economic conditions in emerging economies such as China and India. In addition, the emerging advanced technologies in a vehicle in these regions have increased the electrification in vehicle, and this has resulted in increased demand for automotive connectors.
The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
- By Company Type - Tier 1 - 42 %, Tier 2 - 26%, Others - 32%
- By Designation - C level - 40%, D level - 29%, Others - 31%
- By Region - North America - 38%, Europe - 22%, Asia-Pacific - 30%, Rest of the World - 10%
Major players profiled in the report are:
- TE Connectivity (Switzerland)
- Delphi Automotive (U.K.)
- Yazaki Corporation (Japan)
- Sumitomo Electric (Japan)
- Japan Aviation Electronics (Japan)
- Amphenol Corporation (U.S.)
- Molex Incorporated (U.S.)
- Hirose Electric Co. Ltd. (Japan)
- Foxconn Technology Group (Taiwan)
- JST MFG Co. Ltd. (Japan)
- AVX Corporation (U.S.)
This market study covers the automotive connectors market for wire to wire connection, wire to board connection and board to board connection. The systems identified in the report include sealed connector system and unsealed connector system. The applications included in this report are body control and interiors, safety and security, engine control and cooling system, fuel and emission control, infotainment and others. Additionally, the report covers the market for passenger cars, commercial vehicles, and electric vehicles.
Reasons to Buy the Report:
The report provides insights about the following points:
- Market Penetration: Comprehensive information about the automotive connectors market offered by the top 11 players in the market.
- Product Development/Innovation: Detailed insights into upcoming technologies, R&D activities, and new product launches in the automotive connectors market
- Market Development: Comprehensive information about types of automotive connectors. The report analyzes the market for various automotive connector systems across multiple regions
- Market Diversification: Exhaustive information about new products, untapped regional markets, recent developments, and investments in the automotive connectors market
- Competitive Assessment: In-depth assessment of the market shares, strategies, products, and manufacturing capabilities of leading players in the automotive connectors market
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