PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1400974
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1400974
Asia Pacific Automotive Connectors Market size was valued at USD 510 Million in 2022, expanding at a CAGR of 5.5% from 2023 to 2030.
Automotive connectors are a part that technicians in electronic engineering work with frequently. Its purpose is quite straightforward, it creates a communication bridge across the circuit's isolated or obstructed circuits.
Automotive Connectors Market- Market Dynamics
Rising adoption of emerging technologies such as advanced navigation and infotainment system, are expected to propel market demand
It is anticipated that system innovations and technology advances will boost the market. Most cars worldwide now come equipped with entertainment and navigation systems as standard equipment due to their increasing popularity. Automotive connectors for central electronic control units are needed to link these systems. Numerous elements that improve safety and the driving experience are the product of technological breakthroughs. The need for a dependable connector in different car systems has increased due to growing consumer safety concerns and government safety-related efforts. For example, a connection system made up of a retainer and safety restraint system connector is necessary for safety systems used in cars, such as seatbelts, airbags, and brakes. As a result, the growing need for vehicle safety measures directly affects the demand for automotive connectors.
Automotive Connectors Market- Key Insights
As per the analysis shared by our research analyst, the Asia Pacific market is estimated to grow annually at a CAGR of around 5.5% over the forecast period (2023-2030)
Based on Product segmentation, integrated circuit segment was predicted to show maximum market share in the year 2022, advancements in technology boosting the high demand for electronic component in the market.
Based on Vehicle Type segmentation, passenger cars was the leading market in 2022, due to easy availability of low-cost raw material for manufacturing of cars.
Based on Application segmentation, safety & security was the leading market in 2022, due to increasing awareness of safety standards.
On the basis of country, China was the leading revenue generator in 2022 mainly due to the growing manufacturing and production of automotive vehicles.
The Asia Pacific Automotive Connectors Market is segmented on the basis of Product, Vehicle Type, Application, and Region.
The market is divided into five categories based on Product: printed circuit board (PCB), integrated circuit, radio frequency, fiber optic, and others. The integrated circuit dominates the market. The rising adoption new technology in electronics devices is driving the market growth.
The market is divided into two categories based on Vehicle Type: passenger cars and commercial vehicle. The passenger cars dominate the market and is likely to maintain its dominance during the forecast period. Growing demand for small cars, SUVs are boosting the segment growth.
The market is divided into six categories based on Application: comfort, convenience and entertainment (CCE), powertrain, safety and security, body wiring and power distribution, and navigation and instrumentation. Advancements in technology have developed several new safety features in vehicles, infotainment system and is boosting the market growth.
Automotive Connectors Market- Country Insights
Country wise, this market is widespread into India, China, South Korea, Japan, Australia, Thailand, Indonesia, Philippines, Malaysia, Taiwan, Vietnam, Hong Kong, New Zealand, Singapore, Myanmar, and the rest of the Asia-Pacific (APAC) region. China, is expected to dominate the market during the forecast period. China has been the largest automotive market globally, with a rapidly growing automotive industry. The increasing production and sales of vehicles, including electric vehicles, contribute to the demand for automotive connectors.
Asian countries including China, Taiwan, and Japan are industry leaders in the production of electronic parts for automobiles and trucks. Due to readily available raw materials, improved manufacturing facilities, and inexpensive labor, the area is a hub for exporting a wide range of automobile parts. Products that are technologically sophisticated, dependable, and long-lasting are anticipated to be essential for success in this industry. As a result, leading market players have improved their R&D capacities to expand their product line and increase market share.
In September 2022, TE Connectivity (TE), a world leader in connectivity and sensors, has created the PicoMQS a small automotive connector system.
The scope of this report covers the market by its major segments, which include as follows:
ASIA PACIFIC AUTOMOTIVE CONNECTORS MARKET KEY PLAYERS
TE Connectivity
YAZAKI Corporation
Delphi Technologies
JAE
Amphenol
Lear Corporation
Koch Industries
JST
Aptiv
TactoTek
Kyocera
Sumitomo Corporation
Molex India
Others
ASIA PACIFIC AUTOMOTIVE CONNECTORS MARKET, BY PRODUCT
Printed circuit board (PCB)
Integrated circuit
Radio frequency
Fiber optic
Others
ASIA PACIFIC AUTOMOTIVE CONNECTORS MARKET, BY VEHICLE TYPE
Passenger Cars
Commercial vehicle
ASIA PACIFIC AUTOMOTIVE CONNECTORS MARKET, BY APPLICATION
Comfort
Convenience and entertainment (CCE)
Powertrain
Safety and security
Body wiring and power distribution
Navigation and instrumentation
ASIA PACIFIC AUTOMOTIVE CONNECTORS MARKET, BY REGION
Asia Pacific
India
China
South Korea
Japan
Australia
Thailand
Indonesia
Philippines
Malaysia
Taiwan
Vietnam
Hong Kong
New Zealand
Singapore
Myanmar
Rest of APAC