The Europe Automotive Connectors Market would witness market growth of 5.0% CAGR during the forecast period (2023-2030).In the year 2020, the Europe market's volume surged to 302.9 million units, showcasing a growth of 2.9% (2019-2022).
Safety and security features, including lane departure warning, adaptive cruise control, an anti-theft alarm system, keyless entry, and automatic emergency braking, aid in preventing fatal accidents and increase security. Many electronic components are used to integrate such cutting-edge capabilities into a vehicle. Connectors serve a crucial role in the distribution of power to these components. In addition, connectors are manufactured to withstand harsh operating conditions, such as high/low temperatures, wear and tear, and dirt.
Connector demand has increased due to rising vehicle electrification across all vehicle segments. The demand for automotive connectors is also driven by a decrease in electric vehicle sales caused by raising awareness of environmentally friendly mobility. Regulations play an important role in shaping the market. Due to the availability of lucrative incentives, the proposed ban on vehicles powered by internal combustion engines (ICE) in several nations has increased the adoption of electric vehicles. As a result, the scope of vehicle electrification is expanded, increasing the demand for connectors.
A self-driving vehicle rolled out in the United Kingdom could occur by 2025 due to the new government. The plans announced on (19 August 2022) include new legislation enabling the safe, wider rollout of self-driving vehicles by 2025. The prevalent regulations are conducive to developing Europe's autonomous car sector. In June 2017, for instance, the German Road Traffic Act was amended to permit a driver to transfer driving control to an autonomous car. The increasing prevalence of autonomous vehicles in the market is anticipated to contribute to the expansion of the regional market.
The Germany market dominated the Europe Automotive Connectors Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,005.9 million by 2030. The UK market is estimated to witness a CAGR of 4.1% during (2023 - 2030). Additionally, The France market would showcase a CAGR of 5.8% during (2023 - 2030).
Based on Application, the market is segmented into Safety & Security, Powertrain, Comfort, Convenience, & Entertainment (CCE), Body Wiring & Power Distribution and Navigation & Instrumentation. Based on Product, the market is segmented into PCB, IC, RF, Fiber Optic, and Others. Based on Connectivity, the market is segmented into Wire to Wire, Wire to Board and Others. Based on Vehicle Type, the market is segmented into Commercial Vehicles, and Passenger Cars. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide Automotive Connectors Market is Projected to reach USD 15.2 Billion by 2030, at a CAGR of 5.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include TE Connectivity Ltd., Yazaki Corporation, Aptiv PLC, Sumitomo Electric Industries, Ltd., Molex, LLC (Koch Industries, Inc.), Amphenol Corporation, Korea Electric Terminal Co., Ltd., Kyocera Corporation, Rosenberger Hochfrequenztechnik GmbH, and Japan Aviation Electronics Industry, Ltd.
By Application (Volume, Million Units, USD Million, 2019-2030)
By Product (Volume, Million Units, USD Million, 2019-2030)
By Connectivity (Volume, Million Units, USD Million, 2019-2030)
By Vehicle Type (Volume, Million Units, USD Million, 2019-2030)
By Country (Volume, Million Units, USD Million, 2019-2030)
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