Press release
Global Circular Connectors Market to Reach USD 14.04 Billion by 2030 with a 5.7% CAGR
The global circular connectors market is projected to grow from USD 9.5 billion in 2024 to USD 14.04 billion by 2030, registering a compound annual growth rate (CAGR) of 5.7% during the forecast period. This growth is fueled by increasing demand across industries such as automotive, consumer electronics, and industrial automation.
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► Competitive Landscape
Key players in the circular connectors market include TE Connectivity, Amphenol Corporation, Hirose Electric Co., Ltd., ITT Inc., and Molex, LLC. These companies are focusing on product innovation and strategic partnerships to strengthen their market positions.
► Regional Demand
The Asia-Pacific region dominates the market, accounting for 40% of the global revenue in 2023, driven by rapid industrialization and the expanding electronics sector in countries like China, Japan, and India.
► Country-Specific Insights
Vietnam: Opportunities in Industrial Automation
Vietnam's growing industrial automation sector presents significant opportunities for circular connector manufacturers to cater to the increasing demand for reliable connectivity solutions.
LinkeWire
• Thailand: Growth in Automotive Applications
Thailand's robust automotive industry drives the demand for circular connectors, essential for vehicle electronics and communication systems.
• Japan: Trends in Miniaturization and High-Speed Connectivity
Japanese manufacturers are focusing on developing compact, high-speed circular connectors to meet the needs of advanced electronics and telecommunications equipment.
• South Korea: Consolidation in Electronics Sector
South Korea's electronics industry is witnessing consolidation, with companies engaging in mergers and acquisitions to enhance their product portfolios and market reach.
• Singapore: Updation of Standards in Aerospace and Defense
Singapore is updating its aerospace and defense standards, leading to increased adoption of advanced circular connectors that comply with stringent performance requirements.
• United States: Opportunities in Military and Aerospace
The U.S. market sees significant opportunities in military and aerospace applications, where circular connectors are critical for ensuring reliable and secure connections in harsh environments.
• China: Growth in Consumer Electronics
China's booming consumer electronics market fuels the demand for circular connectors, essential components in various devices requiring robust connectivity.
• Europe: Trends in Sustainable Manufacturing
European manufacturers are adopting sustainable practices in circular connector production, aligning with the region's stringent environmental regulations and consumer preferences.
► Mergers and Acquisitions
In South Korea, Amphenol Corporation acquired a local connector manufacturer to expand its presence in the Asian market and enhance its product offerings.
In the United States, TE Connectivity completed the acquisition of Intercontec Group, strengthening its position in the industrial automation sector.
► Key Recent Developments
In Japan, Hirose Electric Co., Ltd. introduced a new series of miniature circular connectors designed for high-speed data transmission in compact devices.
In Europe, Molex, LLC launched eco-friendly circular connectors, utilizing recyclable materials to meet the region's environmental standards.
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Global Circular Connectors Market Segmentation
by Type
Hybrid connectors
Signal connectors
Data connectors
Power connectors
by Application
Military
Transportation
Industrial
Residential
Medical
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Global Circular Connectors Market Key Players
1. Amphenol
2. Molex
3. Sumitomo Wiring System
4. Delphi
5. Jonhon
6. ITT
7. Belden
8. Souriau
9. TE Connectivity
10.Molex, LLC
11.Franz Binder GmbH & Co
12.PHOENIX CONTACT
13.ITT Inc
14.Japan Aviation Electronics Industry,Ltd
For deeper market insights, peruse the summary of the research report: https://www.maximizemarketresearch.com/market-report/global-circular-connectors-market/112229/
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