Press Fit Connectors Market is Anticipated to Witness High Growth Owing to Growth in Automotive Industry

 
Press Fit Connectors Market

Press fit connectors are electronic components used for connecting printed circuit boards. They provide a cost-effective and secure connection between printed circuit boards. Press fit connectors find widespread applications in automotive electronics, industrial electronics, consumer electronics, and others due to their resistance to vibration and mechanical stress. The growing demand for technologically advanced automotive electronics such as infotainment systems, telematics, GPS navigation systems has been fueling the demand for press fit connectors.

The Global Press Fit Connectors Market is estimated to be valued at US$ 8.92 Bn in 2024 and is expected to exhibit a CAGR of 4.9% over the forecast period 2024 To 2031.

Key Takeaways

Key players operating in the Press Fit Connectors are Positronic, TE Connectivity Corporation, Amphenol ICC, Dietze Group, Autosplice, Fujitsu Limited, SAMTEC, Inc., Molex, LLC (Koch Industries, Inc.), Aptiv PLC, Diehl Stiftung & Co. KG, Sumitomo Electric Industries, Ltd., AVX Corporation, PROVERTHA Connectors, Cables and Solutions GmbH, Mill-Max Mfg. Corp. Positronic and TE Connectivity Corporation hold significant market share in press fit connectors market.

There is immense potential for growth of Press Fit Connector Market Demand in automotive electronics applications. With increasing demand for electric vehicles, press fit connectors demand is expected to grow at a rapid pace with growing electronics component per vehicle.

Key players are expanding their geographical footprint to benefit from the growing demand in emerging economies of Asia Pacific and Latin America. Companies are investing in developing manufacturing facilities and setting up distribution channels in high potential markets.

Market Drivers:
Growing demand for technologically advanced automotive electronics is a key factor driving the press fit connectors market. Press fit connectors find broad usage in automotive electronics such as infotainment systems, telematics, electric vehicles which are witnessing stellar growth. Growing demand for industrial robots and industrial automation is also boosting the press fit connectors market.

Market Restrain:
Raw material price volatility remains a key challenge for press fit connector manufacturers. Steel, copper and other non-ferrous metals are key raw materials for press fit connectors whose prices fluctuate frequently affecting manufacturers margins.

Segment Analysis
The largest segment of the press fit connectors market is the automotive segment, accounting for over 30% of the total market share. Press fit connectors are widely used in automotive ECUs, PCBs and motor drive units. The sealing and gripping properties of press fit connectors make them highly suitable for use in automotive connectors which require high reliability and endure harsh environments.

The industrial machinery segment is the second largest sub-segment. Press fit connectors find applications in industrial equipment, factory automation systems, motor drives, sensors and other industrial electronics where secure, fast and toolless connections are required. The cost effectiveness and easy assembly advantages of press fit connectors continue to drive their adoption in industrial machinery.

Global Analysis
Regionally, Asia Pacific dominated the press fit connectors market and accounted for more than 40% revenue share in 2024 owing to presence of huge automotive and industrial manufacturing bases in China, Japan, South Korea and other Southeast Asian countries. Rapid industrialization and growth of electronics industry has contributed to market growth. North America and Europe are other major regions for press fit connectors due to large automotive manufacturing clusters and adoption of technologically advanced automation solutions across industries. Growth of connected vehicles is expected to boost demand for press fit connectors in vehicular electronics applications in the coming years across all regions.

 

Get more insights on Press Fit Connectors Market

 

About Author:

Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)


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