Northbrook, IL -- (SBWIRE) -- 08/19/2019 -- The Automotive Connectors Market, in terms of value, is projected to grow at a CAGR of 7.46% from 2016 to 2021. The market was estimated to be USD 4.38 Billion in 2016 and is projected to reach USD 6.28 Billion by 2021. The growth of the automotive connector market is fueled by the increasing number of electronic components and advanced safety features in vehicles, and rise in the number of autonomous vehicles across the globe.
The report analyzes all major players in the automotive connectors market, including TE Connectivity (Switzerland), Delphi Automotive (U.K.), Yazaki Corporation (Japan), and Sumitomo Electric (Japan).
The Asia-Pacific region was estimated to dominate the market, in terms of value, in 2016. The rising consumer income levels, increased vehicle production in developing countries such as China, and rise in electric vehicles in countries such as Japan have all added up to the growth of the market in the Asia-Pacific region.
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The global market has been segmented on the basis of connection type, system type, application, vehicle type, and region. The market has been segmented on the basis of connection type into the wire to wire connection, wire to board connection, and board to board connection. The wire to board connection segment was estimated to account for the largest market share, in terms of value, in 2016. The increase in the number of electronic components used in vehicles and the rise in demand for automotive safety systems have been the key drivers for this market.
The global market has been segmented by application into body control and interiors, safety and security, engine control and cooling system, fuel and emission control, infotainment and others. The safety and security segment was expected to hold the largest market share, by value, in 2016. The rising electrification in vehicles has been a key driver for the market. Advanced vehicle safety technologies have also increased the number of connectors used per vehicle.
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Automobile Original Equipment Manufacturers (OEMs)
Raw Material Suppliers for Connectors
Traders and Distributors of Connectors
Automotive Wires and Cables Manufacturers