Power Connectors Market Size, Share & Industry Analysis, By Type (Light Duty, Medium Duty, Heavy Duty), By Application (Data Communications, Consumer Electronics, Industrial, Automotive, Medical Equipment, Aerospace, Other) And Regional Forecast, 2024-2032

Power Connector is a device that allows an electrical current suuply to a device, offeirng power for operation. It acts as a basic energy transfering equipment broadly utilized in several industrial applications. Power connectors consists on insulative housing and plurality of terminals that enhance its applications, as it is capable of supplying equal power via multiple terminals. Power connectors play major role in automotive, data communication, consumer electronics, aerospace, and many other sectors, thus widens the scope of the study with significant growth of the global market.

Sudden emergence of COVID-19 pandemic definitely led seevral sectors on halt, leading to increasing work from home facility all over the world. This led to rise in demand for consumer electronics such as tablets, laptops, and smartphones with increasing demand for power connectors globally over the forecast period. Aerospace and military applications require high-speed and compact power connectors to adjoint the devices with power in smaller spaces, helping in maintainig safety and providing adequate power for adaptive control system, auto emerency breaking, etc. On the other hand, rapid automotive production in developing countries with rising population has led to increasing adoption of power connectors across the automotive sector. Connectors play major role in providing adequate power supply to the automotive engines or devices, thus expected to surge market growth in the coming years.

Key Market Driver -

• Increasing demand of consumer electronics post emergence of COVID-19 pandemic • Rising demand of compact connectors in aerospace and military sector • Rapid automotive production

Key Market Restraint -

• Restriction for further product innovation

Key Players Covered:

Key market players are focusing over enhancing their marketing strategies to maintain their goodwill with their existing clients. However, manufacturers tend towards scaling their business through mergers and acquisitions, geographical expansion or partnerships. Manufactures are also focusing over expanding their product portfolio via launching innovative products to enhance their business services and gain global customer base.

Some of the key competitors in the power connectors market include Molex, Igus, TE Connectivity, CLIFF Electronic Components, Mouser Electronics, Inc., Amphenol, CUI, Samtec, Harwin, Foxconn, NBC, Hirose Electric, Bulgin, Belden, Furutech, ITT, GE, Kyocera, Glenair, Anderson Power Products, Methode Electronics, Aerospace Electronics, Phoenix Contact, Binder and others.

Regional Analysis

North America is projected to dominate the power connector market over the forecst period,  with huge military base, large number of power industries and evolving electronics industry. Owing to the presence of advanced technology manufacturers and product developer, North America holds the largest market share in global power connectors market. Asia pacific is aniticipated to be the fastest growing region with rising need for electric vehicles, and consumer electronics. Developing Asian countries namely China and India are increasingly adopting electric vehicles creating ample of market opportunities for the power connector manufacturers. Rising awareness of air pollution has led to the adoption electric vehicles thus bolsteirng the demand for power connectors in automotive applications.

Europe is expected to witness significant market growth in the near future owing to large number of fine automotive manufacturers across the region. Europe excels in medicl equipment manufactuirng sector, thus expected to enhace the demand of power connectors for medical equipment applications. Middle East and Africa, and Latin America are anticipated to portray moderate market growth with reasonable demand of power connectors across several applications. Middle East & Africa is expanding the medical equipment manufacturing sector across the region, this in return is expected to offer ample of market opportuintie to the manufacturers. Similarly, rising investments across industrial and consumer electronics manufacturing plants setup is been observed in Latin America, therefore expected to drive the power connectors demand across the region over the forecast period.

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Segmentation

Key Industry Developments

• April 2020: Molex EXTreme Ten60Power connectors won the prestigious China Electronic Market (CEM) Awards and was recognized as the most competitive power device in China


• April 2019: Igus introduced ready to connect control cables with heavy duty connectors in India for heavy industrial applicationss