The global automotive connector market was valued at a high CAGR of 4.5% during the period 2019-2024. Change in auto industry trends fueled by electrification in vehicles is enabling a huge market growth throughout the forecast span. Moreover, ongoing developments in the semiconductor industry propels the demand for electrical connectors. For instance, in July 2019, Panasonic Corporation came up with a mass production of “Board to FPC Connector” that enables design enhancements with a few components and employing a small number of manpower for vehicle assembly. Owing to increase in use of daylight running lamps, there were changes in protocol pertaining to automotive LED lights in Japan and Europe in the last few years, which in turn impels in a high demand for FPC connectors. Panasonic’s design results in a unique structure that ensures a direct connection between the board and FPC. The connector reduces dependency on wire and hardware for relaying mechanical energy thereby reducing vehicle’s weight and lowering fuel consumption. The metal terminal structure is unique in structure that enables a direct connection between the board and FPC thereby eliminating the need for any harnesses. The global market witness loads of opportunities in terms of FPCs that have enhanced the design of daylight running lamps, vehicle compartment instrument boards, rear lamps, etc. Therefore, the unique structure limits the use of complex components and tedious labor. Access "131" page research report with TOC on "Automotive Connector Market" available with Radiant Insights, [email protected] https://www.radiantinsights.com/research/automotive-connector-market Automotive connector market is strongly driven by current trends such as manufacturer emphasis on vehicle safety and security. Compact design of electric control units (ECUs) comprising steering, braking and powertrain systems triggers the market growth in the forecast span. Moreover, there have been tremendous changes to the design and functionality of automotive in the past few years. Simplicity in engineering design and government norms and regulations have been at the forefront of the market resulting in the development of a high CAGR. Additionally, other features such as ADAS and driverless systems have been instrumental in creating a niche market. Subsequently, there is a gradual penetration of automation in the developing countries while developed nations have a ready infrastructure. Europe is an emerging market for automotive connectors owing to the strong influence of key players in the regional markets followed by technological development of automobile technologies in Germany, France, Spain and Belgium. Automobile sector being a techno-commercial market witness a huge transformation thereby relaying a huge influence on the regional markets. In addition, the market ranking is expected to improve in the near future owing to the standardization of vehicle safety protocols by Euro NCAP. Moreover, increase in regulations for traffic safety across regional markets are anticipated to propel the market growth in the near future. Some of the key players in automotive connector market include Yazaki Corporation, Aptiv PLC, Hirose Electric Co. Ltd., TE Connectivity Ltd and Molex Inc. The key players have adopted expansion strategies such as strategic alliances, and partnerships to maximise their business.
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