Wilmington, Delaware, United States, Sept. 25, 2023 (GLOBE NEWSWIRE) -- The global press fit connector market is projected to flourish at a CAGR of 4.6% from 2023 to 2031. As per the report published by Transparency Market Research, a valuation of US$ 12.93 billion is anticipated for the market in 2031. As of 2023, the market for press fit connectors is expected to close at US$ 9.0 billion.
Increasing application areas of press-fit connectors, such as aerospace and defense, telecommunications, and electronics; rising demand for electronics intelligent bus systems; and advantages of press-fit connectors are major factors expected to boost the global press-fit connector market during the forecast period.
The proliferation of smartphones, tablets, laptops, and other consumer electronic devices drives the need for compact and reliable connectors. Press-fit connectors are used in these devices due to their compact size and high-speed signal transmission capabilities.
Increasing demand for press-fit connectors in diverse applications, including data and communications, transportation, and mechanics. The dependable structure, functionality, efficiency, and various advantages over solder technology are fuelling the market.
Medical devices, including diagnostic equipment and patient monitoring devices, require connectors that meet stringent safety and reliability standards. Press-fit connectors are used in critical medical applications.
The rollout of 5G networks necessitates high-performance connectors for base stations and telecommunications infrastructure. Press-fit connectors support the high-frequency requirements of 5G technology.
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Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | US$ 9.0 Bn | |
| Estimated Revenue | US$ 12.93 Bn | |
| Growth Rate - CAGR | 4.6% | |
| Forecast Period | 2019-2027 | |
| No. of Pages | 80 Pages | |
| Market Segmentation | By Type, Applicatio, Region | |
| Regions Covered | North America, Latin America, Europe, Asia Pacific, Middle East & Africa | |
| Companies Covered | TE Connectivity Inc, Amphenol, Fujitsu, ERNI International, Radiall, Harting, Japan Aviation Electronics Industry Limited., J.S.T. Manufacturing Company Limited, Interplex, Samtec Inc., and Wurth Elektronik | |
Key Takeaways from the Market Study
- As of 2022, the press fit connector market was valued at US$ 8.6billion
- By type, the compliant press-in segment enjoys high demand, accumulating a high revenue share during the forecast period.
- Based on application, the automotive segment is expected to generate high revenue during the forecast period, due to high safety requirements at low cost and an increase in electrical functionality.
Press Fit Connector Market: Key Trends and Opportunistic Frontiers
- The aerospace and automotive industries increasingly rely on sophisticated electronic systems. Press-fit connectors offer high-reliability connections in these demanding applications.
- Press-fit connectors are used in automotive applications. for their reliability and durability. The automotive industry is incorporating advanced electronics, including infotainment systems, advanced driver assistance systems (ADAS), and electric vehicle (EV) components.
- Technological development and R&D activities are paving the way for automated press fit assembly processes to achieve consistent results. When used properly, press fit terminations offer strong and reliable service in a benign application or a harsh one.
- Press-fit connectors, are designed with eco-friendly materials and processes, and align with sustainability goals and regulatory requirements for reducing the environmental impact of electronic components.
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Press Fit Connector Market – Regional Analysis
- Asia Pacific is expected to dominate the press fit connector market during the forecast period due to its robust manufacturing sector and electronics industry. Increased advances in technology and high-quality electronic products and the development of innovative press-fit connector solutions boost the market demand.
- North America is expected to account for a significant share of the press fit connector market owing to the mature electronics industry, including aerospace, defense, automotive, and consumer electronics. The growing demand for press fit connectors, particularly in the automotive and telecommunications sectors in countries like the United States and Canada drives the market demand.
Competitive Landscape
The global press fit connector market is fragmented, with the presence of a small number of leading players. The leading players in the market are investing in new product development, mergers, and acquisitions to gain a competitive edge. Transparency Market Research has profiled the following players in its global press fit connector market report:
- TE Connectivity Inc
- Amphenol
- Fujitsu
- ERNI International
- Radiall
- Harting
- Japan Aviation Electronics Industry Limited.
- J.S.T. Manufacturing Company Limited
- Interplex
- Samtec Inc.
- Wurth Elektronik
Key Developments in the Press Fit Connector Market
- TE Connectivity has been focusing on the development of high-speed press-fit connectors for data center applications. These connectors provide enhanced signal integrity and support higher data rates, addressing the growing demand for faster data transmission.
- Amphenol has been investing in the development of press-fit connectors with advanced sealing technologies. These connectors are designed to withstand harsh environmental conditions, making them suitable for aerospace and military applications.
- Samtec has been focusing on high-density press-fit connectors for applications in data centers, telecommunications, and industrial equipment. These connectors offer space-saving solutions for densely populated PCBs.
- HARTING has been working on press-fit connectors with innovative locking mechanisms for secure and reliable connections. These connectors are suitable for industrial automation and robotics.
Partial Table of Content (ToC):
1. Global Press Fit Connector Market - Executive Summary
1.1. Global Press Fit Connector Market Country Analysis
1.2. Competition Blueprint
1.3. Technology Time Line Mapping
1.4. TMR Analysis and Recommendations
2. Market Overview
2.1. Market Introduction
2.2. Market Definition
2.3. Market Taxonomy
3. Market Dynamics
3.1. Macro-economic Factors
3.2. Drivers
3.2.1. Economic Drivers
3.2.2. Supply Side Drivers
3.2.3. Demand Side Drivers
3.3. Market Restraints
3.4. Market Trends
3.5. Trend Analysis- Impact on Time Line (2021-2031)
3.6. Key Regulations By Regions
4. Associated Industry and Key Indicator Assessment
4.1. Parent Industry Overview
4.2. Supply Chain Analysis
4.2.1. Profitability and Gross Margin Analysis, by Competition
4.2.2. List of Active Participants- By Region
4.2.2.1. Raw Material Suppliers
4.2.2.2. Key Manufacturers
4.2.2.3. Integrators
4.2.2.4. Key Distributor/Retailers
4.3. Technology Roadmap Analysis
4.4. Porter Five Forces Analysis
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Press Fit Connector Market- Key Segments
Type
- Solid Press-in
- Compliant Press-in
Application
- Automotive
- Electronic
- Data & Communication
Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
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