The connector industry in India and around the world has seen a significant increase.
This is due to the constantly increasing demand for electrical and electronic components in the automotive, consumer electronics, white goods, and industrial segments. From 2019 to 2025, the market is expected to grow at a CAGR of 9.47%.
The connector industry’s future market size-
In the coming years, the connector industry is expected to grow at a healthy rate. The growing demand for electronic devices, as well as the need for dependable and efficient connectivity solutions, are driving the growth of the connector industry. The global connector industry is expanding steadily and is expected to be worth $67.8 billion by 2026. With a large number of manufacturers present in the country, India is one of the key players in this market.
India’s Connector Industry-
During the forecast period, the Indian connector industry is expected to grow at a CAGR of 9.1%. (2019-2024). The increasing demand for electric vehicles and the expanding automotive sector are the primary drivers of the connector industry’s growth in India. Furthermore, the government’s efforts to promote electric vehicles are expected to increase demand for connectors in India. In India, the automotive industry is the largest end-user of connectors.
The rising demand for electric vehicles is expected to propel the Indian automotive connector market forward. Furthermore, the Indian government’s initiatives to promote electric vehicles are expected to increase demand for connectors. The connector industry is highly competitive, with a large number of players. TE Connectivity, Amphenol, Samtech India, Molex, and Yazaki are among the market’s key players.
Global Connector Industry-
India, like the rest of the world, relies heavily on the connector industry. In fact, India is one of the world’s leading connector manufacturers and suppliers. There are numerous reasons why the connector industry is so vital.
Connectors are used in a variety of industries, including including electronics and telecommunications, as well as automotive and aerospace. They play an important role in connecting various components and systems, and as such, they are critical to the smooth operation of many industries.
With a large number of domestic and international players, India’s connector industry is highly competitive. According to Technavio, the Indian connector market will grow at a compound annual growth rate (CAGR) of 9.5% between 2016 and 2022.
A variety of factors are driving the increased demand for connectors in India, including the expanding electronics market, the increased use of connectors in the automotive sector, and the expanding aerospace industry. Furthermore, the government’s initiatives to promote the use of indigenous products and boost exports are boosting the Indian connector industry.
The Future of the Connector Industry in India and Around the World-
The connector industry is growing in India and around the world. With the growth of the telecommunications and automotive industries, the future looks bright for the connector industry. Because of its large population and growing economy, India is expected to be a key player in the global connector industry.
From 2016 to 2021, the Indian connector industry is expected to grow at a compound annual growth rate of 9.5%. By 2022, the global connector market is expected to be worth $68.8 billion.
Connectors are widely used in the telecommunications industry. The ever-increasing demand for data connectivity has necessitated the development of more dependable and high-speed connectors. The connectors are increasingly being used in the automotive industry for a variety of applications such as infotainment, safety, and autonomous driving.
The growing demand for electric vehicles is expected to benefit the connector industry as well. The connector industry in India and around the world has a bright future. The demand for connectors is expected to rise as the telecommunications and automotive industries expand. Because of its large population and growing economy, India is well positioned to capitalise on this growth.
Demand for data centres and hyperscale facilities, as well as the growing adoption of 5G technology, are some of the key factors driving the growth of the connector industry in India. The thriving automotive sector and rising demand for electric vehicles are propelling market growth. With these favourable conditions in place, it is safe to say that India’s connector industry has a promising future.