The global automotive connectors market was estimated to be USD 4.38 Billion in 2016, and is projected to reach USD 6.28 Billion by 2021, growing at a CAGR of 7.46% from 2016 to 2021. Asia-Pacific was estimated to lead the automotive connectors market in 2016, followed by North America.
New product development and mergers and acquisitions were the key strategies adopted to gain traction in the automotive connectors market. The new product development strategy accounted for approximately 58% of all the strategies adopted by companies from 2015 to 2017. For instance, in 2016, TE Connectivity (Switzerland) developed ELCON Mini power connectors and cable assemblies, which offered a positive metal latch connection, low resistance, and highly reliable interface. Companies also followed the strategy of mergers and acquisitions to fortify their business network. This approach constituted approximately 24% of the total growth strategies adopted by players in the automotive connectors market. For instance, Amphenol Corporation acquired EEC division (U.S.) called as Amphenol EEC. This new facility manufactures connectors and cable assemblies that meet the stringent requirements of the Buy America program.
The automotive connectors market is dominated by global players such as TE Connectivity (Switzerland), Delphi Automotive PLC (U.K.), Yazaki Corporation (Japan), Sumitomo Electric Industries, Ltd. (Japan) and Japan Aviation Electronics Industry, Ltd. (Japan).
TE Connectivity, headquartered in Schaffhausen, Switzerland, is a leading technology company, which designs and manufactures connectivity and sensor solutions. The company operates in three segments, namely transportation solutions, industrial solutions and communication solutions. These segments manufacture and distribute their products and solutions to a wide range of customers. For instance, TE Connectivity acquired the Intercontec Group (Germany), which is a manufacturer of circular metric connectors. The acquisition helped to strengthen its role as a solutions provider.
Delphi Automotive is a global technology company that caters to the commercial vehicle and automotive markets. It operates in four segments of the automotive industry—namely, electronic/electrical architecture, powertrain systems, electronics & safety systems, and thermal systems. The company has a strong presence in North America, Europe, Asia-Pacific, the Middle East, and Africa. It offers products and services to global vehicle manufacturers such as General Motors (U.S.), Ford Motor Company (U.S.), Volkswagen (Germany), Renault (France), Fiat Automobile (Italy), Hyundai (South Korea), and Toyota (Japan).
Automotive Connectors Market by Connection Type (Wire to Wire, Wire to Board, Board to Board), Application (Body Control & Interiors, Engine Control & Cooling System), System Type (Sealed, Unsealed), Vehicle Type, and Region - Global Forecast to 2021
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