Circular Connectors Market - Forecast (2020 - 2025)
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Circular Connectors Market Overview
Circular connectors refer to multi-pin connectors that are used for interfacing. They enable maximum connectivity of the electric or transmission signals. The future of the circular connectors market looks promising with opportunities in various industries such as automotive, consumer electronics, and others. The global circular connectors market was valued at $6,720m in 2017 and is estimated to reach $10,080m by 2024, with an estimated CAGR of 5.7% during the period 2018-2024. The Asia-Pacific region dominates the market for circular connectors.
Circular Connectors Market Outlook
Circular connectors are primarily used for data transfer, power supply to an electrical device, or for electrical signal transmissions. The connectors are designed to resist abnormal environment. The automotive and telecommunication end user segments are estimated to grow at a CAGR of 8% and 7% respectively during the forecast year. According to Industry ARC findings, the data connectors segment is expected to hold the largest market share during the forecast period. Data connectors are usually used for safe data transmission from one device to another. They are specifically designed for USB, Ethernet and SMB applications and are suited to a wide range of industrial & harsh environment applications. Data connectors are widely used in the telecommunications sector in order to transmit data and provide telephony communication service around the world. The APAC circular connectors market is estimated to grow at a CAGR of 9% during the period 2018-2024.
Owing to the shift from analog to digital technologies in recent years, connectors are in high demand for better and secure connectivity. The medical industry also plays a huge role in the growth of the circular connectors market as circular connectors find various applications in diagnostic devices, therapy and surgical instruments, and cardiac assist devices.
Circular Connectors Market Growth Drivers
Circular connectors meet strict requirements and perform smoothly both in extreme conditions and in critical medical applications. This has boosted the demand for circular connectors in medical applications. Furthermore, advancements in technology and networking capabilities are also providing significant opportunities for the growth of the circular connectors market. Circular connectors' manufacturers offer tailor-made hybrid connectors that are capable of transforming the data, signals, and power in one interface with high efficiency.
Circular Connectors Market Challenges
Connectors are used in arrays, there is considerable loss of panel space, as the side-by-side arrangement requires additional accessibility space to be able to twist and lock the connectors in. Due to the rising automotive industry that requires maximum performance with minimum space, the loss in panel space has a negative impact on the circular connectors market.
Circular Connectors Market Research Scope
The base year of the study is 2017, with forecast done up to 2023. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Circular Connectors market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of connectors, accessories used in circular connectors, and their specific end users.
Circular Connectors Market Report: Industry Coverage
Types of Connectors: Power Connectors, Data Connectors, Hybrid Connectors, Signal Connectors
Accessories Offerings: Adapters, Back shell & Clamps, Boots & Strain Relief, Caps & Covers
End users: Military & Aerospace, Healthcare, Manufacturing & Processing, Marine, Mining, and Others
North America: The U.S., Canada, Mexico, Rest of North America
South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica, Rest of South America
Europe: The U.K., Germany, Italy, France, Spain, Rest of Europe
APAC: China, India, Japan, South Korea and Rest of APAC
Rest of the World: Middle East and Africa
Circular Connectors Market Key Players Perspective
TE Connectivity, a world leader in connectivity and sensors, has released its O.C.H. micro circular connectors, which specifically meet the standards set by the U.S. Army's Nett Warrior programO.C.H. micro circular connectors feature breakaway coupling, enabling quick connection and single-action disconnection that battlefield conditions require.
Some of the other key players mentioned in this report are Amphenol, Molex, Sumitomo Wiring System, Delphi, Jonhon, ITT, Belden, and Souriau.
Circular Connectors Market Trends
German VG95234 specifications connector, the qualified circular connector for railway and industrial equipment has been developed by a company JAE of series "JK06", is a waterproof circular connector. JK06 series widely used for railway vehicles and various industrial equipment such as machine tools, robots, communication devices, and sound devices. Compatibility of this series meets with international standards required for overseas railway vehicles. This series also compliant the specifications of French standard (NFF61-030) and European standards (EN50467).
Communication underpins all current trends regarding connectors. "The Internet of Things, Industry 4.0, and Mobility" means production is becoming more modular and flexible, which has consequences for the connection technology. Connectors are the flexible call for connection technology, by removing the electrical and soldered connection. It combines contacts for high current, easy to configure and can be resembled again and again. Advantages of connectors are driving the growth of the circular connector market
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