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United States, Rockville MD, Aug. 01, 2022 (GLOBE NEWSWIRE) — According to Fact.MR, a market research and competitive intelligence provider, the global high power connectors is estimated at US$ 4.6 billion in 2022 and is expected to expand at an impressive CAGR of 6.1% during the forecast years of 2022-2032. The market is poised to grow due to the increased need for application-specific, customized power demand.
Electrical power sources can range in size from small batteries to large power grids. Power connectors are typically classified as light, medium, and heavy-duty connectors. High power connectors are capable of transporting high-level currents up to hundreds of kilovolts and are useful in large-scale power distribution applications as well as power management and protection systems due to the substantial load that they can support.
Utilisation of high power connectors has increased significantly in the operations of aerospace & defense, industrial & manufacturing, automotive, oil & gas, and various end-use sectors as a result of the ongoing electrification of applications to reduce carbon footprint.
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As the world continues to push for greener initiatives, market sectors are also undergoing changes in the direction of their energy supply. Manufacturers of electrical interconnects are under pressure of rapid. Owing to their widespread application use case, the market for high power connectors is expected to create an absolute dollar opportunity of US$ 4 billion by 2032.
Key Takeaways from Market Study
- The global high power connectors market is projected to expand at an impressive CAGR of 6.1% and be valued at US$ 8.3 billion by 2032.
- The market witnessed 1.6% CAGR over the past 4 years.
- Under type, board mounted high power connectors dominate the market and are valued at US$ 1.9 billion in 2022.
- East Asia led the market with 38.1% share in 2021.
- Together, the IT & telecommunications and industrial & manufacturing sectors are likely to represent 44.5% market share in 2022.
- Based on region, demand for high power connectors is expected to increase at CAGRs of 5.8% and 7.3%, respectively, in Europe and South Asia & Oceania.
“Electric vehicle & semiconductor end uses are expected to reflect lucrative near-term opportunities for high power connectors sales,” says a Fact.MR analyst.
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Market Development
Leading manufacturers have developed broad standard product portfolios that can cater to the dynamic demand from end-use industries and offer high power connectors suitable for a number of applications. Key market players are offering tailored solutions for complex requirements that can`t be solved with a standard product.
For instance, manufacturers are providing custom products to aerospace & military applications to transmit high currents with the smallest possible size as it requires compact power connectors to connect devices with power in small spaces. The design of the connectors and the choice of materials are based on application-specific requirements.
Furthermore, market players are taking efforts to increase their customer base by offering collaborating platforms, enabling customers to directly approach technical teams and R&D centres. Additionally, market leaders are focused on partnering with and acquiring small- and medium-sized businesses to broaden their portfolios and offer more expertise.
Competitive Landscape –
Prominent high power connectors manufacturers are ABB, Amphenol, Anderson Power Products, Aptiv, Foxconn, Harting, Harwin Hirose, Electric Co. Ltd., ITT Cannon, Japan Aviation Electronics, Japan Solderless Terminal, Luxshare ICT, Molex, Radiall, Renhotec, Rosenberger, Smiths Interconnect, Souriau Sunbank, TE Connectivity, Valentini, and Yazaki.
For Instance :
- In June 2022, Smiths Interconnect launched the HBB five-pole connector, which is an add-on to the already developed single-pole version for military & defence related applications. The new configuration can be utilized in extremely tight spaces to run several lines, which improves the connector’s flexibility and ability to run superfluous lines as required.
- In Sept 2021, TE Connectivity acquired ERNI Group AG, a leading company in connectivity for factory automation and the automotive industry. With the acquisition of ERNI, TE can now offer a broader range of connectivity solutions, notably in the field of high-speed and fine-pitch connectors for industrial, automotive, medical, and other applications.
- In June 2022, Amphenol and ABB collaborated to develop high-performance electrical solutions to address the changing requirements of clients in the e-mobility, infrastructure, robotics, and transportation industries.
Segmentation of High Power Connectors Industry Research
- High Power Connectors Market by Pole :
- Single Pole Connector
- Multi Pole Connector
- High Power Connectors Market by Mounting Type :
- Board Mount
- Cable Mount
- Panel Mount
- Others
- High Power Connectors Market by Current Rating :
- Up to 100A
- 100-200A
- 200-300A
- 300-400A
- Above 400A
- High Power Connectors Market by End Use Application :
- Aerospace & Defence
- Automotive
- Construction & Mining
- Electronics & Electricals
- Energy & Power
- Healthcare
- Industrial & Manufacturing
- IT & Telecommunication
- Logistics & Transportation
- Oil & Gas
- Others
- High Power Connectors Market by Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global high power connectors, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights based on pole (single pole connectors, multi pole connectors), mounting type (board mount, cable mount, panel mount), current rating (up to 100A, 100-200A, 200-300A, 300-400A, above 400A), and end-use application (aerospace & defence, automotive, construction & mining, electronics & electricals, energy & power, healthcare, industrial & manufacturing, IT & telecommunications, logistics & transportation, oil & gas, others), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
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