Automotive Connector Market Size Worth $11.4 Billion By 2030: IndustryARC

Global Automotive Connector Market size is predicted to reach $11.4 billion by 2030, growing at a CAGR of 21.6% during the forecast period 2024-2030 according to the latest market research report published by IndustryARC. Technological innovations in connectivity solutions, like high-speed data transfer and Increased consumer demand for infotainment and telematics systems in vehicles drives connector usage is poised to propel the market growth, finds IndustryARC in its recent report, titled “Automotive Connector Market – By Connector Type (AC Connectors and DC Connectors), By Voltage (Medium Voltage, Low Voltage and High Voltage), By Propulsion (BEV, HEV, PHEV, FCEV, Petrol, Diesel, Others), By Application (Battery Management System, Body Control and Interiors, Infotainment System, Engine Management and Powertrain, Vehicle Lighting, ADAS, and Safety System and Others), By Geography – Global Opportunity Analysis & Industry Forecast, 2024-2030”

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North America to Register Highest Growth:

North America is analyzed to grow with the highest CAGR of 23.5% during the forecast period 2024-2030. The automotive connector market is driven by increasing vehicle production, advancements in automotive technology, rising demand for safety features, and the growing adoption of electric and hybrid vehicles. Additionally, the integration of advanced infotainment and telematics systems and stringent regulatory requirements contribute to the market’s expansion.

Automotive Connector Market 2024-2030: Scope of the Report

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Automotive Connector Market Report – Key Takeaways:

• PHEV Segment to Register Highest Growth

PHEV segment is analyzed to grow with the highest CAGR of 22.5% during the forecast period 2024-2030. The growth of Plug-in Hybrid Electric Vehicles (PHEVs) is a significant driver in the automotive connector market. Increasing consumer demand for environmentally friendly vehicles, stringent government regulations on emissions, and advancements in battery technology are propelling this trend. Additionally, the rise in public charging infrastructure and incentives for electric vehicle adoption further enhance the need for reliable and efficient connectors. Automakers are focusing on integrating advanced electrical systems in PHEVs, requiring high-performance connectors to ensure seamless operation and safety, thereby boosting the automotive connector market.

• ADAS (Advanced Driver Assistance Systems) Segment to Register Highest Growth

ADAS (Advanced Driver Assistance Systems) segment is analyzed to grow with the highest CAGR of 25.3% during the forecast period 2024-2030. Advanced Driver Assistance Systems (ADAS) are a significant driver in the automotive connector market. The push towards enhanced vehicle safety and autonomous driving capabilities has led to a surge in demand for reliable and efficient connectors. These systems require advanced connectivity solutions to integrate sensors, cameras, and control units seamlessly. Additionally, regulatory mandates for increased vehicle safety features further fuel this demand. As manufacturers strive to differentiate their offerings with sophisticated ADAS technologies, the need for high-quality connectors that ensure robust data transmission and system reliability becomes paramount, fostering innovation and growth within the automotive connector industry.

• Technological Complexity

The automotive connector market faces significant challenges due to the increasing complexity of automotive electronics. Modern vehicles incorporate advanced technologies such as ADAS, infotainment systems, and electric powertrains, which require sophisticated connector solutions. Ensuring compatibility and reliability amidst these technological advancements is challenging. Connectors must support high-speed data transfer, withstand harsh environmental conditions, and integrate seamlessly with various electronic systems. As automotive technology evolves rapidly, connectors must continuously adapt, necessitating ongoing innovation and rigorous testing to maintain performance standards and ensure system integrity.

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Key Opportunity Analysis:

Technological Advancements

The rapid evolution of automotive technology presents a substantial opportunity for the automotive connector market. Innovations such as electric vehicles and autonomous driving require advanced connectors that can support higher data transmission rates and reliability. Investing in research and development to create connectors that meet these technological demands can position companies at the forefront of this growing market.

Increased Vehicle Electrification

According to the International Energy Agency in 2023, nearly 14 million new electric vehicles (EVs) were registered, increasing the total to 40 million globally. This represents a 35% rise in sales compared to the previous year. The growing EV market is driving demand for specialized automotive connectors that can handle high voltage and current efficiently. Companies that invest in developing advanced, high-performance connectors will gain a competitive edge as the automotive industry increasingly shifts towards electrification. This trend highlights the need for robust and reliable connectors to support the evolving needs of electric vehicles.

Connectivity Integration

The integration of connectivity solutions in vehicles, such as IoT and telematics, opens up opportunities for automotive connector manufacturers. These technologies require connectors that can handle data transmission and communication between various vehicle systems. Companies that develop connectors capable of supporting these advanced connectivity features will be well-positioned to meet the growing demand for integrated vehicle communication solutions.

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The report also covers the following areas:

• Automotive Connector Market Size and Forecast
• Automotive Connector Market Trends
• Automotive Connector Market Analysis by Product Type

Automotive Connector Market 2023-2030: Key Highlights

• CAGR of the market during the forecast period 2023-2030
• Value Chain Analysis of key stakeholders
• Detailed analysis of market drivers and opportunities during the forecast period
• Automotive Connector Market size estimation and forecast
• Analysis and predictions on end users’ behavior and upcoming trends
• Competitive landscape and Vendor market analysis including offerings, developments, and financials
• Comprehensive analysis of challenges and constraints in the Automotive Connector Market

Covid and Ukrainian Crisis Impact:

• The COVID-19 pandemic has disrupted the automotive connector market by causing significant delays in production and supply chain interruptions. Lockdowns and restrictions led to factory shutdowns and reduced manufacturing capacity, impacting the timely delivery of components. Additionally, decreased consumer demand during economic uncertainty further strained the market. As the industry recovers, companies are focusing on enhancing supply chain resilience and adopting digital solutions to mitigate future disruptions.
• The Ukrainian crisis has affected the automotive connector market through heightened geopolitical tensions and trade disruptions. Supply chains were strained as key materials and components faced delays or shortages. Increased uncertainty around logistics and border controls further impacted production schedules. Companies have been compelled to seek alternative suppliers and diversify their supply chains to minimize risk. As the situation evolves, businesses are adapting strategies to ensure continuity and manage potential future disruptions.

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List of Key Market Players in the Automotive Connector Market:

The Global Automotive Connector Market is fragmented with several global and regional companies operating with expansive manufacturing capabilities and extensive distribution networks. The key companies profiled are listed below:

• Sumitomo Corporation
• Tesla, Inc.
• Yazaki Groupe
• Siemens AG
• Schneider Electric
• Fujikura
• Robert Bosch GmbH
• Amphenol Corporation
• Huber+Suhner
• TE Connectivity
• Aptiv PLC
• Hirose Electric Co., Ltd.
• Molex
• Hu Lane Associates Inc.
• Korea Electric Terminal Co. Ltd

Related Reports:

EV Connectors Market: size is estimated to reach $ 11.40 Billion by 2030, after growing at a CAGR of 21.6% during 2024-2030.

Automotive Wiring Harness Market:  There are a rising number of electronic interfaces throughout the drive train and control systems, plus inside the passenger compartment. This is increasing the number and complexity of harnesses in vehicles.

Automotive Cable Market: assistance devices deal with critical situations semi-autonomously or alert the driver. Traction control, automatic stability control, collision warning and an alert for system safety or lane departure. Signal cables are required to operationally incorporate them into the vehicles.

About IndustryARC:

IndustryARC primarily focuses on Market Research and Consulting Services specific to Cutting Edge Technologies and Newer Application segments of the market. The company’s Custom Research Services are designed to provide insights into the constant flux in the global demand-supply gap of markets. 

IndustryARC’s goal is to provide the right information required by the stakeholder at the right point in time, in a format that assists an intelligent and informed decision-making process.

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