Press Fit Connector Market Revenue to Cross US$ 11,069.9 million by 2028: The Insight Partners

According to our latest market study on “Press Fit Connector Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type and Application,” the market was valued at US$ 8,045.0 million in 2021 and is projected to reach US$ 11,069.9 million by 2028; it is expected to grow at a CAGR of 4.7% from 2021 to 2028.   The press fit connection is formed when a pin is pressed into a fitted, plated-through hole in a printed circuit board (PCB). Press fit technology allows manufacturers to avoid soldering when assembling PCBs. There are several kinds of press fit connectors, including those with solid pins (which do not contort during insertion) and compliant pins (which compress or comply during insertion).

Factors such as rising telecommunication sector and growing electronics and infotainment systems in the automotive sector are influencing the market growth. However, the high cost of connectors and technical challenges is restraining the press fit connector market growth. Moreover, increasing need for press fit connectors in the aerospace & defense industry and rising development of smart cities are among other factors contributing toward the market growth.

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Europe is one of the leading markets for manufacturing on the back of several leading automotive and aerospace manufacturing countries such as Germany, the UK, France, and Italy. The automotive sector supports the growth of the economy by assisting the supply chain that results in the creation of a diversified array of business opportunities and services. The European region is projected to grow at a considerable rate during the forecast period, owing to the increasing demand for high-speed connectivity solutions. Further, the region has a strong dominance of semiconductor manufacturing industries. The market players in the region are looking at cloud computing and connected cars as a new opportunity for the press fit connector market growth. New technology development projects and collaborations of market players are creating a strong growth opportunity for the market. Thus, the press fit connector market is expected to grow exponentially in the region.

Development of Smart Cities

Various governments are taking initiatives to propel the development of smart cities in their respective economies. TE Connectivity launched a 56-position VPX footprint-compatible connector designed for rugged, high-speed applications. Press fit stacking connectors address the need for 10 Gbps digital signals in high-density packaging. The company is engaged in providing intelligent traffic analysis and route planning services in large cities. Further, the Smart Cities Mission of the Indian government focuses on promoting the development of sustainable and inclusive cities that offer essential infrastructure for ensuring a decent quality of life, coupled with a sustainable and clean environment with the deployment of smart solutions. The initiative of the Indian government toward green and smart cities is providing impetus to the companies offering products enabled with the press fit technology, encouraging the development of energy-efficient and economical press fit connector systems. The government efforts are gathering significant focus of the press fit connector market players to the Indian market, thereby making India a global hub for the press fit connector manufacturing. Thus, the development of smart cities is becoming a significant trend in the press fit connector market, thereby contributing to its growth.

Impact of COVID-19 Pandemic on Press Fit Connector Market

According to the latest situation report from the World Health Organization (WHO), the US, Spain, Italy, France, Germany, the UK, Russia, Turkey, Brazil, Iran, and China are among the worst-affected countries due to the COVID-19 pandemic. In 2020, the world economy suffered significant consequences, and the effects are expected to endure to some extent. The outbreak has led to disruptions in primary industries including electronics, semiconductor, and automotive. A sharp decline in the growth of mentioned industries is limiting the press fit connector market growth. Factory shutdowns, travel and trade bans, and border lockdowns to combat and contain the infection have impacted the working of many commercial and corporate buildings across the world.

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Growing Use of Electronics and Infotainment Systems in Automotive Sector

Connected cars, driverless cars, modern telematics, and advanced infotainment systems are among the modern trends in the automotive sector, which are bolstering vehicle sales. Electric and infotainment systems require advanced connectors to support faster rates of data transfer. Thus, with increasing electrification of vehicles and the rising adoption of telematics in them, the demand for press fit connectors is also on the rise. According to the DSM company, ~98% of all new cars are estimated to have an internet connection by 2020. These new connected cars will create demand for 15 FAKRA/HSD connectors. The connectors are integrated to establish a connection between coaxial cable and transceivers and receivers located in FM signals, vehicle GPS, satellite radio, cellular communications, and safety applications, among others. Hence, with increasing thrive for advanced connectivity in cars and other vehicles, the demand for the press fit connectors is also increasing.

Press Fit Connector market: Application Overview

In terms of application, the market is segmented into automotive, telecommunications, military & aerospace, medical, and others. In 2020, the automotive segment led the press fit connector segment, accounting for the largest share of the market.

Press Fit Connector Market: Competitive Landscape and Key Developments

Positronic; TE Connectivity Corporation; Amphenol ICC; Dietze Group; Autosplice; Fujitsu Limited; SAMTEC, Inc.; Molex, LLC (Koch Industries, Inc.); Aptiv PLC; Diehl Stiftung & Co. KG; Sumitomo Electric Industries, Ltd.; AVX Corporation; PROVERTHA Connectors, Cables and Solutions GmbH; and Mill-Max Mfg. Corp are among the key players operating in the market. Several other market players have been analyzed to understand the press fit connector market.

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The players operating in the press fit connector market adopt strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:

In June 2021, Sumitomo Electric Industries, Ltd. launched AirEB. The AirEB is a multi-fiber connector with an expanded beam that has optical performance tolerance to the contamination on the connector mating faces, which contributes to cost reduction for massive fiber-optic network operators.

In August 2020, PROVERTHA Connectors, Cables and Solutions GmbH expanded its product portfolio by taking over the D-Sub products from ERNI and offering high-performance D-Sub solutions for several applications.

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