High Power Connectors Market to Reach US$ 8.3 Billion by 2032 with Burgeoning Demand for Shock & Corrosion Resistant Power Sources

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Aug 18, 2022, 08:30 ET

High Power Connectors Demand Spurred by Ongoing Development in Blockchain and E-mobility Technologies

Fact.MR offers comprehensive analysis on the global high power connectors market for the upcoming decade. The study provides key growth factors impacting the sales and offers in-depth insights covering factors such as drivers, opportunities, and key players'. In addition to this, the study analyzes latest trends across various segments including pole, mounting type, current rating, end-use application, and region.

NEW YORK, Aug. 18, 2022 /PRNewswire/ -- The global high power connectors market is likely to grow at 6.1% CAGR in 2022-2032. It is set to reach US$ 8.3 Billion by 2032, as per the latest report by Fact.MR. Sales of high power connectors are expected to be the highest in North America and the region held nearly 22.0% of share in 2021.

High power connectors are devices that allow electrical current to pass through efficiently. These carry either AC or DC. High power connectors are used in diverse sectors such as consumer electronics, industrial, automotive, and medical equipment.

Adoption of high power connectors is set to surge in those industries where a constant stream of seamless power transfer is required. Military and aerospace are a couple of such industries where power management and high efficiency are very important.

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As per the Stockholm International Peace Research Institute, the global military expenditure passed US$ 2 trillion for the first time in 2022. The largest spenders in 2021 were India, China, the U.S., Russia, and the U.K., which together accounted for about 62% of expenditure. It is further set to drive demand for advanced high power connectors in the upcoming decade.

Moreover, demand for high power connectors is expected to rise on account of growing government investments in infrastructure development activities. Governments of various countries are focusing on last mile connectivity and providing electricity to remote, high terrain villages.

Creating infrastructure in such extreme environments requires power sources that are shock resistant and corrosion resistant. As high power connectors are feasible in these regards, they find applications in such development activities.

The high power connectors market is also anticipated to grow due to their increasing applications in the development of innovative technologies. Two technologies that are witnessing steady growth include blockchain and e-mobility.

Both these technologies require power sources that are extremely efficient. For example, bitcoin cryptocurrency alone consumes 150 terawatt-hours annually. Similarly, there is a growing positive perception among consumers toward e-mobility. According to a study by the National Institution for Transforming India (NITI Ayog), consumers in India are likely to buy an electric two-wheeler or four-wheeler in future with the influence of rising costs of petroleum and diesel.

Key Takeaways:

The global high power connectors market is set to be valued at US$ 4.6 Billion in 2022.
The U.S. high power connectors market is anticipated to grow at a CAGR of 5.5% during the forecast period.
Europe is set to hold nearly 23.6% of the high power connectors market share in 2022 and is projected to rise at 5.8% CAGR during 2022-2032.
East Asia high power connectors market is likely to grow at 6.3% CAGR during the forecast period of 2022-2032.
By mounting type, the board mount high power connectors segment was valued at US$ 1.9 Billion in 2021.

Growth Drivers:

Growing demand for highly efficient power management systems worldwide is likely to drive the market.
Surging investments by governments in the development of electricity infrastructure are projected to boost growth.

Restraints:

If the contact area is smaller than the conductor area, high power connectors are likely to overheat, thereby causing the surrounding combustibles to burn.
High power connectors are required in extreme and critical environments due to which their adoption is limited.

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Competitive Landscape:

Leading players operating in the high power connectors market are focusing on strategies such as innovation and new product launches. As top 5 players hold nearly 28.3% of share in the market, there is a scope for new entrants to achieve high revenues. Market players are mainly focusing on launching high power connectors that would work efficiently in extreme conditions.

For instance,

Amphenol launched high power connectors with an operating voltage of 2.0KV AC (rms) at 35.000 ft. in 2021. These connectors are ideal for batteries and generators.
In September 2021, ERNI Group AG was acquired by TE Connectivity. The acquisition was done with the aim of increasing connectivity solutions in high-speed and fine-pitch connectors.

Key Companies Profiled by Fact.MR

Amphenol
ABB
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
Yazaki

More Valuable Insights on High Power Connectors Market

In the latest study, Fact.MR offers a detailed study on global high power connectors market for the forecast period of 2022 to 2032. This study also highlights key drivers promoting the sales of high power connectors with analysis across below segments:

By Pole:

Single Pole Connector
Multi Pole Connector

By Mounting Type:

Board Mount
Cable Mount
Panel Mount
Others

By Current Rating:

Up to 100A
100-200A
200-300A
300-400A
Above 400A

By End Use Application:

Aerospace & Defense
Automotive
Construction & Mining
Electronics & Electricals
Energy & Power
Healthcare
Industrial & Manufacturing
IT & Telecommunication
Logistics & Transportation
Oil & Gas
Others

By Region:

North America
Latin America
Europe
East Asia
South Asia & Oceania
MEA

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Key Questions Covered in the High Power Connectors Market Report:

What is the projected value of the high power connectors market in 2022?
At what rate will the global high power connectors market grow until 2032?
Which are the factors hampering the growth in the high power connectors market?
Which region is expected to lead in the global high power connectors market during 2022-2032?
Which are the factors driving the high power connectors market during the forecast period?
What is the expected market value of the high power connectors market during the forecast period?

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About Fact.MR

Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range – from automotive & industry 4.0 to healthcare, technology, chemical and materials, to even the most niche categories. We are committed to deliver insights that help businesses gain deeper understanding of their target markets. We understand that making sense of the vast labyrinth of data can be overwhelming for businesses. That's why focus on offering insights that can actually make a difference to bottom-lines.

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