Grand View Research sees the global automotive connectors market reaching $28.25 billion by 2025 at a CAGR of 7.4% during the forecast period. Increasing demand for connectivity, convenience, and safety features in vehicles is anticipated to boost market growth. Moreover, growing demand for plug-in hybrid as well as electric vehicles is expected to stimulate market growth over the forecast period.
- By product, the other connectors segment emerged as dominant in the automotive connectors market with an estimated share of over 74.0% in 2017. The segment includes a wide variety of connector products such as heavy-duty, terminal blocks, power/high voltage, and application-specific connectors.
- Wire to wire is the most significant connectivity type for automotive connectors, owing to increasing vehicle electrification.
- The commercial vehicle segment is likely to register a CAGR of 8.1% from 2018 to 2025. Growth can be attributed to increasing penetration of Advanced Driver Assistant Systems (ADAS) features in commercial vehicles.
- Navigation is anticipated to emerge as the largest application segment for automotive connectors. Segment growth can be attributed to rise in adoption of advanced infotainment devices in vehicles as they offer user-friendly and accurate navigational and other entertainment features.
- The safety and security application segment is expected to account for share of over 26.0% by 2025.
- The global automotive connectors market was valued at USD15.58 billion in 2017 and is expected to exhibit a CAGR of 7.4% from2018 to 2025
- Fiber optic connectors emerged as the fastest growing product segment, expanding at a CAGR of 10.6% over the forecast period
- The wire to board connector segment is expected to register a CAGR of 6.3%through 2025
- Asia Pacific is anticipated to emerge as the most promising market for automotive connectors by 2025, owing to increasing vehicle electrification in the region
- Key players such as YAZAKI Corporation, TE Connectivity, Sumitomo Corporation, and Delphi Technologies dominated the global automotive connectors market while accounting for the majority revenue share in 2017.
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Grand View Research, Inc.