Microminiature Circular Connectors Market Forecast to 2027 - COVID-19 Impact - Glenair, Hirose Electric, HUBER+SUHNER, ITT Inc

Emerging Economies Provide Growth Opportunities to Microminiature Circular Connector Market Players

Latest market study on "Global Microminiature Circular Connectors Market to 2027 - Analysis and Forecast by Type (Metal Shell, and Plastic Shell); Application (Military & Defense, Aerospace & UAV, Industrial Application, Medical, and Others; and Geography", the microminiature circular connectors market is estimated to reach US$ 2,476.48 Mn by 2027 from US$ 1,809.60 Mn in 2019. The report includes the analysis of the factors of driving or restraining the market growth, alongside highlighting the prominent players in the market with their recent developments.

The increasing shift towards renewable energy, electromobility, and industrial digitalization (Industry 4.0) are anticipated to provide growth opportunities for the microminiature circular connector providers. Emerging economies offer substantial new markets for the sales of these products.

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The connected devices market is expected to reach US$ 50.1 billion by 2020, according to the National Cable and Telecommunications Association. The government organizations in developing countries, such as India, China, and Brazil, have undertaken many developments to improve the network infrastructure. Such initiatives are boosting the demand for high-speed data transmission cables connectors. The Chinese government has also proposed that the country would actively promote the 5G development plans and launch the technology by 2020. This would lead to the development of upgraded communication infrastructure, which is expected to increase the need to install better cable connectors and other equipment in the coming years.

The microminiature circular connectors market has been segmented on the basis of type, application, and geography. In terms of geography, Asia Pacific held the largest share of the microminiature circular connectors market, followed by Europe and North America, in 2019. Further, Asia Pacific is also projected to register the highest CAGR in the market during 2020-2027, the forecast period for the report. The market based on type is segmented into metal shell and plastic shell. The metal shell segment is expected to hold the prime market share in the microminiature circular connectors market during the forecast period. Further, based on application, the microminiature circular connectors market is segmented in military and defense, aerospace and UAV, industrial application, medical, and others. The industrial application segment held largest share of the market in 2019.

The major companies offering microminiature circular connectors market worldwide include Amphenol Corporation, Franz Binder GmbH & Co.Electrical Components KG, Glenair, Inc., Hirose Electric Co., Ltd., HUBER+SUHNER, ITT Inc., Omnetics Connector Corporation, SOURIAU SAS, TE Connectivity, and Ulti-Mate Connector, Inc.

Strategic Insights
The microminiature circular connectors market players focus on new product innovations and developments to achieve sustainable growth and distinguish themselves from their competitors in the highly competitive microminiature circular connectors market.

o In 2020, Franz Binder GmbH & Co. Elektrische Bauelemente KG launched IP67 rated 4- and 6- way snap-in circular connector distributors. Each version is offered with 3 or 5 gold plated contacts, and the product is available in a cabled version or pluggable module. The distributors allow the expansion of the 720 series connectors and are appropriate for usage in electrical equipment and factory control systems requiring IP67 protection.

o In 2018, HUBER+SUHNER developed the PSM connector series for weight-sensitive aerospace applications. This series enables the customer to maximize power performance while minimizing overall system size, weight, and expenditure as well as obtaining a cost-effective solution.

Market Segmentation
Microminiature Circular Connectors Market - By Type
o Metal Shell
o Plastic Shell

Microminiature Circular Connectors Market - By Application
o Military and Defense
o Aerospace and UAV
o Industrial Application
o Medical
o Others

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