Global Industrial Connectors Market Forecast to Reach $22.4 Million by 2025
“The Industrial Connectors market is driven primarily by the factors such as increasing demand of data connectors due to rapid industrial growth of data centres as well as IT industries.”
Overview
Global Industrial Connectors Market is forecast to reach $22.4million by 2025, growing at a CAGR of 5.6% during the forecast period from 2020 to 2025. The Industrial Connectors market is driven primarily by the factors such as increasing demand of data connectors due to rapid industrial growth of data centres as well asIT industries. Adoption of various industrial connectors offering use in high demanding applications amidst harsh environments are some factors causing high popularity of industrial connectors in the market.
Material – Segment Analysis
Plastic connectors are having major demands in the industrial connectors market replacing the traditional metal connectors. As compared to metal ones, plastic connectors are more cost effective and offer a light weight design with improved flexibility. Various types of plastic compounds are being used for making industrial connectors which is raising its market demand towards industrial requirements in harsh environments. Plastic connectors have been dominating the industrial connectors market with its high use, in some demanding applications such as laboratory as well asand many industrial environments. This rising adoption of plastic connectors is fuelling the market demand, along with eliminating the use of metal based connectors. had also caused fall in market demands towards metal based connectors. fuelling the industrial connectors market at a rapid rate, thus reducing the metal connectors market growth.
Geography – Segment Analysis
Asia Pacific is expected to have a major growth in the global Industrial Connectorsmarket during the forecast period from 2020 to 2025. Presence of key players such as Yazaki Corporation, Foxconn Technology Group and JST Mfg. Co. Ltd.are providing a major contributiontowards the growth of Industrial Connectorsmarket. Increasing growth of automotive industries as well as high adoption of connectors towards data connectivity from IT and telecom sector are also fuelling the market growth in this region.
Drivers – Industrial Connectors Market
Rising demand from data centres
With rapid industrial growth towards data centres, industrial connectors are causing high demands in the market. With the help of industrial connectors, companies have been able to improve their ethernet capabilities, thus improving the data connectivity in their organization.Adoption of ethernet connectors in data centres provides high speed transmission of massive amounts of data which helps in enhancing work productivity. With the help of such connectors, data centres are able to meet the high end and data heavy applications offering high performance, thus acting as a major driver for the growth of industrial connectors market.
Increasing automotive demand
Rapid growth of automotives has been acting as a major driver towards the rising growth of industrial connectors market.Safety systems installed in vehicles such as brakes, seat belts and many others deploy on connectors for the connection purpose. Safety systems are an essential part of a vehicle infrastructure, which causes high dependency of industrial connectors by the automobile companies. Moreover, with the growing global population, automobiles are already facing high demands in the market, ultimately pushing the demands for industrial connectors.
Challenges – Industrial Connectors Market
Designing and operation failures
Designing of connectors is a major challenge faced by the industrial connectors market, thus hampering its growth. Design engineers face problems while balancing out the compact designs along with offering high performance levels.Miniaturization of Designing very small size high voltage power connectors without compromising with the durability offered device robustness in the harsh environments is the major issue faced by in industrial connectors manufacturers market . Additionally, repeated connector connection and disconnection causes wear and tear issues, thus causing operation failures.
Market Landscape
Partnerships and acquisitions along with product launches are the key strategies of the players in the Industrial Connectors Market. The major key players in the Industrial Connectors Market include Molex Incorporated, TE Connectivity, Amphenol Corporation, Aptiv(Delphi Connection Systems), JST Mfg. Co. Ltd., Hirose Electric Co. Ltd., Rosenberger Hochfrequenztechnik GmbH, Harting Technology Group, Foxconn Technology Group, Sumitomo Electric Industries Ltd., Japan Aviation Electronics Industry Ltd. and Yazaki Corporation.
Partnerships/Product Launches/Acquisition
In February 2020,Binder USA LP launched eight contact male/female cable connector named M16-X415 series in order to offer high speed data transmission along with an IP67 rated ingress protection to resist harsh environments. M16-X comes with an optional female panel mount connector, offering 50 V AC/60 V DC of rated voltage. This connector series provide demanding applications for control and measurement along with industry 4.0 automation and high speed video imaging.
In March 2020,Amphenol ICC launched ix industrial connectors in collaboration with its technology partners Hirose Electric and Harting Technology Group. With a mechanically strong 10 position connector design and IEC 61076-3-124 compliant, these connectors were designed to meet the next generation industrial ethernet requirements. As per company claims, these ix connectors are considered ideal use forFactory and Process Automation, Machine to Machine communication, Robotics, Human Interface devices and all other devices relying on Ethernet IIoT connectivity.
Key Takeaways
Plastic connectors have caused high demands in the industrial connectors market prior to its rising adoption towards demanding applications, thus affecting the growth of metal based connectors.
Rising automation along with presence of some major players such as Yazaki Corporation and Foxconn Technology Group Oracle Corporation have helped in fuelling the market growth in Asia Pacific region.
Rapid technological advancements and growing demand from data centres are acting as major driving factors for the high growth of industrial connectors market.
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Mr. Venkat Reddy
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Email: sales@industryarc.com
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