Automotive Connector Market, 2024 - Market is Expected to Register a CAGR of 6.12%

DUBLIN, June 21, 2019 /PRNewswire/ -- The "Automotive Connector Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.

The global automotive connector market is expected to register a CAGR of 6.12%, during the forecast period, 2019-2024.

The increase in safety concerns among consumers, coupled with the 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 growing demand for automotive safety systems has a direct influence on the demand for automotive connectors, in turn driving the growth of the market.

Furthermore, the usage of electronics in other applications such as advanced and convenient systems like automatic transmissions and infotainment has also been increasing, which in turn is driving the demand for automotive wiring harnesses in automobiles, thereby, propelling the need for connectors in these systems.

Connectors are placed under the hood of automobiles and must have the capacity to withstand high as well as sub-zero temperatures and shocks. Thus, reliability and durability concerns are some functional challenges that hinder the growth of the market.

Automotive connector market has major application in the powertrain systems followed by safety and infotainment systems.

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 connection, 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 has been considered in the scope of the study.

The automotive connector market has been segmented by application type, vehicle type, and geography.

Key Market Trends

Safety and Security to Witness Fast Growth

The safety and security segment is expected to witness the fastest growth rate, during the forecast period.

Improving safety and security of vehicles is a growing concern among automakers and governments, as a result, automakers have started installing dedicated electronic control units (ECUs) at every critical level of vehicle systems which includes powertrain, steering, and braking systems. For instance, the usage of ECUs such as electric power steering ECU unit and anti-lock braking system (ABS) ECU unit have been significantly increased to approximately 4-5% annually during the past three years (2015-2018).

Other safety and security features such as airbags and central-locking system have been predominantly installed in more than 60% of all new vehicle sales in 2018.

In addition, ADAS features such as adaptive cruise control, parking assist, lane departure warning and assist system, blind spot detection, night vision system, adaptive front lighting system etc., have been gradually penetrating in vehicles across global, majorly in European (EU) and North American region, and countries like China and Japan.

Europe Expected to Capture Larger Market Share

Europe ranks top in implementing safety features in the vehicles, while the Americas and Asia-Pacific follow the footprints of Europe. Euro NCAP has released few protocols on safety features like autonomous emergency braking, driver monitoring and child occupant protection in 2018 and is anticipating to mandate these features in EU vehicles by 2020-2022. With the growing protocol towards vehicle safety standards across every region, the adoption of safety and security systems in the automobiles are expected to increase, which in turn will result in the demand for and usage of connectors during the forecast period.

The rising demand for electric and semi-autonomous vehicles in Europe is simultaneously impacting the usage for automotive connectors. For instance, the share of electric vehicles in the regional market has increased by approximately 30% over the last two years and is expected to grow over the next five years, owing to the growing environmental concerns. Thus, the region is expected to witness high demand for automotive connectors during the forecast period.

Competitive Landscape

The automotive connector market is highly fragmented due to the presence of many regional players. However, some of the major players, like TE Connectivity, Yazaki Corporation, Lumberg Connect GmbH, Amphenol RF, Aptiv PLC, Sumitomo Wiring Systems, Ltd., etc., have captured significant shares in the market.

These companies focusing to expand their connector business across the globe to capture the growing trend of advance electronics and safety systems in vehicles. For instance, Aptiv PLC provides various safety restraint system connector solutions for airbags.

Key Topics Covered:

1 INTRODUCTION

1.1 Study Deliverables

1.2 Study Assumptions

1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market Overview

4.2 Market Drivers

4.3 Market Restraints

4.4 Industry Attractiveness - Porter's Five Force Analysis

5 MARKET SEGMENTATION

5.1 By Application

5.1.1 Powertrain

5.1.2 Comfort, Convenience & Entertainment

5.1.3 Safety & Security

5.1.4 Body Wiring & Power Distribution

5.1.5 Navigation & Instrumentation

5.2 By Vehicle Type

5.2.1 Passenger Car

5.2.2 Commercial Vehicle

5.3 Geography

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., Ltd.

6.2.4 Molex Incorporated

6.2.5 Amphenol Corporation

6.2.6 Luxshare Precision

6.2.7 Aptiv PLC

6.2.8 Hirose Electric Co., Ltd.

6.2.9 Samtec

6.2.10 Lumberg Holding

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

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