DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Automotive Connectors Market by Connection Type, Application, System Type, Vehicle Type, and Region - Global Forecast to 2021" report to their offering.
The automotive connectors market was estimated to be USD 4.38 billion in 2016, and is projected to reach USD 6.28 billion by 2021
The market, in terms of value, is projected to grow at a CAGR of 7.46% from 2016 to 2021. Factors such as increasing electrification in vehicles will boost the demand for automotive connectors in the near future.
The major restraint for the manufacturers is meeting the reliability and durability standards. The connector solutions are able to withstand both low and high frequency solutions. The reliability and durability concerns affect the overall efficiency.
The safety and security application is expected to dominate the automotive connectors market. There has been a rapid increase in the number of technological advancements in vehicles. This can be attributed to the growing demand for features such as collision avoidance, lane departure etc. that increase the convenience and safety of passengers.
Passenger cars are expected to constitute the fastest growing segment of the automotive connectors market, by vehicle type. This can be attributed to the introduction of various advanced safety features such as night vision, blind spot detection, and lane departure systems in passenger cars. These features spurred the growth of the automotive connectors market for passenger cars.
Asia-Pacific is estimated to dominate the automotive connectors market, and is projected to grow at the highest CAGR during the forecast period. The market growth in this region can be attributed to the improving socio-economic conditions in emerging economies such as China and India. In addition, the emerging advanced technologies in a vehicle in these regions have increased the electrification in vehicle, and this has resulted in increased demand for automotive connectors.
- Increasing Electrification in Vehicles
- Increasing Demand for Fuel-Efficient Vehicles
- Increasing Demand for Automotive Safety Systems
- Reliability and Durability Concern Affects the Overall Efficiency
- Trend of Autonomous Vehicles
- Rising Labor Cost in Low-Cost Manufacturing Countries
- Global Rise in Price of Raw Materials
- Amphenol Corporation
- AVX Corporation
- Delphi Automotive
- Fischer Connectors
- Foxconn Technology Group (Hon Hai Precision Industry Co., Ltd.)
- Hirose Electric Co.,Ltd
- Japan Aviation Electronics Industry, Ltd.
- JST Mfg. Co., Ltd.
- Molex Incorporated
- Sumitomo Electric Industries Ltd.
- TE Connectivity
- Yazaki Corporation
For more information about this report visit http://www.researchandmarkets.com/research/jv85j8/automotive