The cable connector market is projected to register a CAGR of 8% during the forecast period of 2020–2026.
The global cable connector market is estimated to grow at a significant rate in the near future. The geographic analysis of the cable connector market has been conducted for North America, Europe, Asia-Pacific, and the rest of the world. Cable connectors components that build a bridge for communication between the blocked or isolated connections in the circuit so that the current flows and the circuit realize the predetermined function. These are the physical media used to transmit power and signal to the various types of devices and control in any industrial system. Electrical connectors are electro-mechanical devices that are used to join electrical terminals and create an electrical circuit. Electrical cables feature an assembly of one or more wires, running side by side or bundled, to carry electric current. Different industrial applications require different types of cable, such as a coaxial cable for radiofrequency and twisted pair cable for serial communication.
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As per MRFR analysis, in 2019, North America accounted for the largest share of the cable connector market. The region hosts several key market players and manufacturers. The increasing investments in defense & submarine cables by various organizations are expected to propel the market growth. Additionally, the surge in demand for higher bandwidth cables & connectors among different industries is also contributing to the regional market growth.
Asia-Pacific is expected to be the fastest-growing regional market during the forecast period. China has witnessed a significant growth of data centers, which is boosting the demand for cable connectors in the country. Moreover, the rapid advancements in the telecom sector and the high demand for improved connectivity are also expected to propel the market growth in Asia-Pacific.
MRFR has identified the key players in the global cable connector market. These include Amphenol Corporation, Molex Inc. (Koch Industries), Fujitsu Limited, AVX Corporation, AMETEK Inc., TE Connectivity Limited, HARTING Technology Group, Huawei Technologies Co. Ltd, Axon Cable SAS, Leoni AG, Aptiv PLC, Yazaki Corporation, Huber+Suhner AG, Nexans S.A., Sumitomo Wiring Systems Ltd., ITT Interconnect Solutions, Korea Electric Terminal Co., Ltd., PRYSMIAN S.P.A., 3M, and ALCATEL-LUCENT. The prominent players keep innovating and investing in research & development to offer a cost-effective product portfolio. There have been recent mergers & acquisitions among the key players, a strategy that business entities use to strengthen their reach to the customers.
The global cable connector market has been segmented based on product, connectivity, and region.
By type, the global cable connector market has been segmented into PCB connectors, circular/rectangular connectors, fiber optic connectors, I/O connectors, and others.
By vertical, the global cable connector market has been segmented into IT & telecommunication, automotive, commercial, aerospace & defense, consumer electronics, industrial, energy & power, oil & gas, and other.
By region, the cable connector market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.
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