Automotive Connector Market by Product (Powertrain, Entertainment, Safety, Instrumentation, Body Wiring), by Application (Passenger Car, Commercial Vehicle) and by Region, Trend, Forecast, Competitive Analysis, and Growth Opportunity 2019-2024

The global automotive connector market size is expected to gain a significant growth in the forecast period. Sensor driven control units in automotive is trending and as the industry progresses towards manufacture of light-weight and the trend of environment-friendly automobiles is gaining a huge momentum. Manufacturers, therefore need to emphasize more on electronic solutions that help in saving space and reducing weight. Automotive industry is adopting trends such as use of miniaturized and compact connectors within vehicles, reduced packaging space for control units and black box strategies to deploy safety features.

The concept of connected cars have attained a huge growth in the recent years and the industry is growing rapidly as electrification of vehicles is at forefront and development of advanced driver assist systems (ADAS) results in greater safety and comfort. Therefore, the production for a sophisticated yet electrified car models are paving their way towards a robust market growth. Moreover, electrified subsystems comprise sensors, hardware and software that belong to the semiconductor industry. Therefore, developments in the semiconductor industry is directly affecting the automotive market. Although, autonomous vehicle functions are in full throttle, the car design operates in a constrained facility; as manufacturers have a high driver for compact and reduced wire connections for electric control units (ECU). For instance, a luxury car comprises a cluster of ECUs with increased levels of complexity, while each ECU comes with a set of PCBs followed by a single header installed on a PCB.

Further, industry and technology trends concentrate on miniaturized platforms to ensure fuel-saving and boost vehicle performance. Therefore, all automotive connectors are expected to meet OEM specifications such as USCAR2 and LV214 thereby strengthening the demand factors. 

Automotive connector market is driven by the change of trends in automotive industry and growing electrification in vehicles. Growing concerns for vehicle safety followed by government initiatives is contributing in the market development. The rise in use of PCBs for panel control and digitization in cars is more likely to propel the demand. In addition, growing acceptance for electric and hybrid cars and vehicle across the world triggers the market growth. Rise in number of electric vehicles is expected to gain a traction in the coming years driven by change in consumer buying patterns. On contrary, the lack of awareness, sensitive nature and breakable nature of electronic components, and circuit distortion are some challenges prevailing in the market.

By application, market of automotive connector can be segmented as commercial vehicle and passenger car. Commercial vehicle is the largest segment in the application category owing to rise in advances for cab transportation facilities. Additionally, the segment is poised to grow at a robust rate in the coming years. Passenger cars are likely to gain a significant traction in the near future owing to shift in production trends and change in consumer buying patterns.

By product, market of automotive connector can be segmented as entertainment, safety, body wiring, instrumentation and powertrain. Safety and instrumentation is the largest segment in the product category attributing to the technical advances within the car safety components. For instance, airbags have become a mandate car safety accessory according to international standards and automotive regulations.

By region, market of automotive connector can be segmented as North America, South America, Europe, Asia Pacific, Middle-East and Africa. North America represents the largest market in the global scenario attributing to the prominence of automotive spare parts and presence of key players. In addition, the market is anticipated to witness a significant rise in imports for semiconductors from Germany. Europe is expected to gain a significant market share owing to massive production for automotive components.

Some of the key players in automotive connector market include Yazaki Corporation, Aptiv PLC, Hirose Electric Co. Ltd., TE Connectivity Ltd and Molex Inc. Mergers and acquisitions, product launch, technological upgrade and strategic alliances are some of the growth strategies adopted by major players.

The analysts forecast the global automotive connector market to exhibit a CAGR of 4.5% during the period 2019-2024. The report covers the present scenario and the growth prospects of the global automotive connector for 2019-2024. To calculate the market size, the report considers the automotive connector sales volume and revenue.

The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: regional markets, product, and application.

Geographically, the global automotive connector market is segmented into North America, Asia Pacific, Europe, Middle East & Africa and South America. This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2019 to 2024.
- North America (U.S., Canada, Mexico, etc.)
- Asia-Pacific (China, Japan, India, Korea, Australia, Indonesia, Taiwan, Thailand, etc.)
- Europe (Germany, UK, France, Italy, Russia, Spain, etc.)
- Middle East & Africa (Turkey, Saudi Arabia, Iran, Egypt, Nigeria, UAE, Israel, South Africa, etc.)
- South America (Brazil, Argentina, Colombia, Chile, Venezuela, Peru, etc.)

On the basis of product, the global automotive connector market is segmented into:
- Powertrain
- Entertainment
- Safety
- Instrumentation
- Body Wiring

Based on application, the automotive connector market is segmented into:
- Passenger Car
- Commercial Vehicle

The report also includes a discussion of the key vendors operating in this market. Some of the leading players in the global automotive connector market are:
- TE Connectivity Ltd
- Yazaki Corporation
- Aptiv PLC
- Sumitomo Electric Industries, Ltd.
- Hirose Electric Co. Ltd.
- Molex Incorporated
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Objective of the study:
- To analyze and forecast the market size of global automotive connector market.
- To classify and forecast global automotive connector market based on region, product, and application.
- To identify drivers and challenges for global automotive connector market.
- To examine competitive developments such as expansions, mergers & acquisitions, etc., in global automotive connector market.
- To conduct pricing analysis for global automotive connector market.
- To identify and analyze the profile of leading players operating in global automotive connector market.

The report is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities. Key target audience are:
- Manufacturers of automotive connector
- Raw material suppliers
- Market research and consulting firms
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to automotive connector

The information contained in this report is based upon both primary and secondary sources. Primary research included interviews with automotive connector suppliers and industry experts. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports, and proprietary databases.