Global Power Connector Market – Industry Trends and Forecast to 2029

Power Connector Market Analysis and Size

Power connectors are widely used in various industries because they are the most experienced innovation. Power connectors are strong, require fewer continuous substitutions, and are guaranteed to support under extreme conditions, which increases their appeal. Modern connectors also play an essential role in ensuring the constant activity of mechanical frameworks to ensure continuous contemporary creation. Among these are heavy-duty mechanical connectors, which are exceptionally designed connector parts that are both strong and appropriate for heavy-duty modern applications.

Data Bridge Market Research analyses that the power connector market was valued at USD 3.27 billion in 2021 and is expected to reach the value of USD 4.83 billion by 2029, at a CAGR of 5% during the forecast period. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Power Connector Market Scope and Segmentation

Market Definition

Power connectors are electrical devices that provide power to electrical equipment. They make it simple to connect one or more wires to a distribution point, such as an electric outlet. Power connectors are built to withstand high currents and voltages. A connector body, contacts, terminals or pins, and insulations are all part of it. They're used in a wide range of applications, including automotive, industrial electronics, and consumer goods. They are mostly found in industrial settings but also in consumer devices like computer servers or stage lighting equipment. Power connectors operate over a wide temperature range and can withstand harsh environmental conditions such as humidity, extreme temperatures, saltwater exposure, and so on.

Global Power Connector Market Dynamics

Drivers

• High need for power management in various end user industries

As power demands are constantly increasing, power management has become critical for various systems in end-use industries. Power connector are best suited for applications that require continuous power transfer. Compact high power connector are required in aerospace and military applications to connect devices with electricity in a small space and operate at a higher efficiency. Power connector ensure a constant supply of high-speed power and aid in the devices' safety, auto emergency braking, and other vital functions. As a result, the growing demand for compact high power in small spaces in aerospace and defence applications is driving up global demand for power connector.

• High investments in renewable energy sources

Due to power shortage, governments around the world are investing heavily in renewable energy sources. Renewable energy produces clean, safe energy that produces no CO2 emissions. As a result of these increased investments, the demand for heavy-duty connectors in renewable energy production is increasing. Furthermore, the growing importance of industrial safety is a driving factor in the growth of the global heavy-duty connector market. Furthermore, governments have established some regulations and safety standards for manufacturers to follow, forcing them to use heavy-duty connectors.

Opportunities

• High growth in developing regions

The market for electric vehicles in the Asia-pacific region is expected to grow as consumers and businesses become more environmentally conscious; this will create opportunities for the power connector market in countries such as India, china, japan, Germany, and others in the future. Companies are also developing edge-computing power connector that allow highly sensitive data to be transferred from one device to another, and data will be the new oil for industries in the coming years.

Restraints

• Lack of manufacturing standards

Manufacturing companies make heavy power connectors to order, so there are no manufacturing standards, and thus these power connectors are more expensive. This is a barrier to the growth of the power connector market.

This power connector market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the power connector market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

COVID-19 Impact on Power Connector Market

However, the ongoing COVID-19 pandemic has caused widespread economic disruption in both developed and developing countries around the world. The global economic slowdown, combined with lower GDP of leading economies in the first half of FY2020 due to the pandemic, is expected to stymie industry growth in the medium term. Manufacturing operations will be shut down, and there will be a labour shortage, which will limit the installation of these units. Despite the economic slowdown, the market is expected to improve by the fourth quarter of FY2020, when manufacturing operations resume following the lockdown.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Developments

• In April 2019, Igus group India, introduced ready to connect heavy duty power connectors for heavy industry applications

Global Power Connector Market Scope

The power connector market is segmented on the basis of type, product type, application. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Light Duty
• Medium Duty
• Heavy Duty

Product type

• IEC Connector
• US Connector
• AU/NZ Connector
• Schuko Connector
• UK Connector
• Others

Application

• Communication
• Industrial and Instrumentation
• Automobile
• Aerospace
• Military
• Medical Devices

Power Connector Market Regional Analysis/Insights

The power connector market is analysed and market size insights and trends are provided by country, type, product type, application as referenced above.

The countries covered in the power connector market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the power connector market because of advances in technology and innovative product development. Furthermore, the large number of power industries and military bases in the United States, as well as the evolution of the electronic industry, are driving the growth of this market in the North America region.

Asia-Pacific region is expected to see the fastest growth in the power connector market during the forecast period because of the growing construction and infrastructure industries, automotive industry, and increased demand and production of tablets and smartphones in developing countries such as India and China.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Power Connector Market Share Analysis

The power connector market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to power connector market.

Some of the major players operating in power connector market are:

• Emerson Electric Co (U.S.)
• Schlumberger Limited (U.S.)
• General Electric (U.S.)
• Curtiss-wright Corporation (U.S.)
• ALFA LAVAL (Sweden)
• IMI plc (U.K.)
• LESER GmbH & Co.KG (Germany)
• The Weir Group PLC (Scotland)
• Forbes Marshall (India)
• Danfoss (Denmark)
• Bosch Rexroth AG (Germany)
• Spirax Sarco Limited (U.K.)
• MEAN WELL (Taiwan)
• TDK Lambda (Japan)
• Siemens (Germany)
• Amphenol Corporation (U.S.)
• DYDEN CORPORATION (Japan)
• Connector-Tech ALS Pty Ltd (Australia)
• SemaConnect Inc. (U.S.)

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