Global Automotive Connectors Market

Global Automotive Connectors Market was estimated to be USD 4.38 Billion in 2016, and is projected to reach USD 6.28 Billion by 2021, growing at a CAGR of 7.46% from 2016 to 2021. Asia-Pacific was estimated to lead the automotive connectors market in 2016, followed by North America.

New product development and mergers and acquisitions were the key strategies adopted to gain traction in the automotive connectors market. The new product development strategy accounted for approximately 58% of all the strategies adopted by companies from 2015 to 2017. For instance, in 2016, TE Connectivity (Switzerland) developed ELCON Mini power connectors and cable assemblies, which offered a positive metal latch connection, low resistance, and highly reliable interface. Companies also followed the strategy of mergers and acquisitions to fortify their business network. This approach constituted approximately 24% of the total growth strategies adopted by players in the automotive connectors market. For instance, Amphenol Corporation acquired EEC division (U.S.) called as Amphenol EEC. This new facility manufactures connectors and cable assemblies that meet the stringent requirements of the Buy America program.

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The ecosystem of the automotive connectors market consists of manufacturers such as TE Connectivity (Switzerland), Delphi Automotive (U.K.), and Sumitomo Electric (Japan), research institutes such as the Automotive Component Manufacturers Association of India (ACMA), Automotive Research Association of India (ARAI), European Automotive Research Partners Association (EARPA), and the United States Council for Automotive Research (USCAR), and regional automobile associations such as China Association of Automobile Manufacturers (CAAM), Japan Automobile Manufacturers Association (JAMA), and the European Automobile Manufacturers Association (ACEA).

Target Audience in Automotive Connectors Market

Connectors Manufacturers
Automobile Original Equipment Manufacturers (OEMs)
Automobile Organizations/Associations
Connectors Suppliers
Research Institutes
Raw Material Suppliers for Connectors
Traders and Distributors of Connectors
Automotive Wires and Cables Manufacturers

Delphi Automotive is a global technology company that caters to the commercial vehicle and automotive markets. It operates in four segments of the automotive industry—namely, electronic/electrical architecture, powertrain systems, electronics & safety systems, and thermal systems. The company has a strong presence in North America, Europe, Asia-Pacific, the Middle East, and Africa. It offers products and services to global vehicle manufacturers such as General Motors (U.S.), Ford Motor Company (U.S.), Volkswagen (Germany), Renault (France), Fiat Automobile (Italy), Hyundai (South Korea), and Toyota (Japan).

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The automotive connectors market, in terms of value, is projected to grow at a CAGR of 7.46% from 2016 to 2021. The market was estimated to be USD 4.38 Billion in 2016, and is projected to reach USD 6.28 Billion by 2021. The growth of the automotive connector market is fueled by the increasing number of electronic components and advanced safety features in vehicles, and rise in the number of autonomous vehicles across the globe.

Restraints of the automotive connectors market:

One of the major concerns for manufacturers in the automotive connectors market is to meet reliability and durability standards. Nowadays, vehicles are equipped with heavy electronic components to control critical systems including airbags, GPS navigation etc. The connector solutions are able to withstand both low and high frequency solutions. Therefore, electronic components used in critical systems must be reliable and durable, as a failure in such systems could have disastrous results.

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Source: Automotive Connectors Market: Application, Geography, Customer and Competitor