The Asia Pacific Automotive Connectors Market would witness market growth of 5.6% CAGR during the forecast period (2023-2030).In the year 2021, the Asia Pacific market's volume surged to 488.1 million units, showcasing a growth of 3.4% (2019-2022).
Electromechanical automotive connectors are crucial for connecting electrical terminals to form circuits. The electrical connector includes a jack and a plug. The automotive connectors create connections in vehicles analogous to the connections of blood vessels in the human body. The connectors are used in an automotive sector device in the industry to connect cables and electrical equipment. Increasing demand for safety features in vehicles entails using sophisticated automotive sensors, which is anticipated to increase the demand for automotive connectors.
Along with the increase in automotive components, electronic device proportions are increasing. The demand for electronic products in vehicles is anticipated to increase the demand for automotive connectors. Copper cables are used for the majority of electrical connections in vehicles. Manufacturers are replacing copper cables with plastic optical fiber to enhance the data connection, increase the cables' flexibility, and reduce the vehicle's overall weight. These optical fiber plastic cables require automotive connectors. As a result, the market is expected to expand due to the growing use of plastic optical fiber cables in the automotive sector.
The high demand for automotive connectors in this region is due to the increasing automobile production in emerging countries like India and China and the increased number of electric vehicles in Japan and South Korea. The Government of Australia has released its National Electric Vehicle (EV) Strategy. The strategy paves the way for more affordable EVs, charging station accessibility, and a dramatic reduction in emissions. Initiatives also emphasize expanded EV availability and buyers' options. The increasing sales of EVs in the region are anticipated to fuel the expansion of the regional market.
The China market dominated the Asia Pacific Automotive Connectors Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,580.2 million by 2030. The Japan market is anticipated to grow at a CAGR of 4.9% during (2023 - 2030). Additionally, The India market would register a CAGR of 6.2% during (2023 - 2030).
Based on Application, the market is segmented into Safety & Security, Powertrain, Comfort, Convenience, & Entertainment (CCE), Body Wiring & Power Distribution and Navigation & Instrumentation. Based on Product, the market is segmented into PCB, IC, RF, Fiber Optic, and Others. Based on Connectivity, the market is segmented into Wire to Wire, Wire to Board and Others. Based on Vehicle Type, the market is segmented into Commercial Vehicles, and Passenger Cars. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Automotive Connectors Market is Projected to reach USD 15.2 Billion by 2030, at a CAGR of 5.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include TE Connectivity Ltd., Yazaki Corporation, Aptiv PLC, Sumitomo Electric Industries, Ltd., Molex, LLC (Koch Industries, Inc.), Amphenol Corporation, Korea Electric Terminal Co., Ltd., Kyocera Corporation, Rosenberger Hochfrequenztechnik GmbH, and Japan Aviation Electronics Industry, Ltd.
By Application (Volume, Million Units, USD Million, 2019-2030)
By Product (Volume, Million Units, USD Million, 2019-2030)
By Connectivity (Volume, Million Units, USD Million, 2019-2030)
By Vehicle Type (Volume, Million Units, USD Million, 2019-2030)
By Country (Volume, Million Units, USD Million, 2019-2030)
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