Press fit connectors are component-level devices that electrically connect circuit boards, wire harnesses or cables without any additional fasteners like screws, bolts or solder. They allow easy assembly and enhance reliability of connections by providing high contact normal force. Press fit connectors offer advantages like snap-in placement, pull-out resistance, time and cost savings associated with assembly. Rising demand for portable electronic devices and trend of circuit miniaturization has accelerated the need for compact and space efficient connection solutions like 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. Rising demand for wearable devices, consumer electronics and Internet of Things (IoT) devices is propelling the Press Fit Connector Market Growth . Leading press fit connector manufacturers are investing in R&D to develop innovative improved press fit contact designs with focus on speed, size and reliability. Miniaturization of electronic circuits is driving demand for compact press fit connectors with higher pin counts in smaller footprints.
Market Trends:
1. Increasing use of press fit connectors in automotive electronic control units due to benefits of durability and resistance to vibration.
2. Development of thermoplastic press fit technology which provides designers more flexibility for circuit miniaturization compared to thermoset press fit connectors.
Market Opportunities:
1. Potential opportunities in emerging applications like electric vehicles, autonomous driving systems.
2. Growth in data centers driving demand for press fit connectors for switches, routers etc. that require high speed, density and reliability.
Impact of COVID-19 on Press Fit Connectors Market:
The outbreak of COVID-19 pandemic has significantly impacted the growth of press fit connectors market. Factory shutdowns, travel bans, quarantines globally disrupted the supply chain and production of press fit connectors in 2020. This led to decline in demand from end-use industries like automotive, consumer electronics, healthcare etc. Restrictions on import-export of components and shortage of labor also posed challenges. However, with increase in work from home culture, demand for computing devices saw an uptick which supported the recovery of press fit connector suppliers to some extent in late 2020.
In 2021, mass vaccination drives and lifting of lockdowns boosted economic activities. This led to revival in demand from automotive production as well as infrastructure development projects. Connector manufacturers ramped up production and utilization of workforce to meet the pent-up demand. They also focused on strengthening their distribution channels and ensuring just-in-time delivery. Going forward, focus on 5G rollouts, autonomous vehicles, IoT applications are expected to open new growth avenues for press fit connectors market post pandemic. Continuous technology advancements will further drive their adoption across industries.
Press fit Connectors Market: Geographical Regions
In terms of value, Asia Pacific region holds the largest share of press fit connectors market currently. This is attributed to presence of numerous manufacturing units of electronic as well as automotive OEMs in China, Japan, South Korea, India. Surging electricity demand powered by renewable energy resources is propelling infrastructural developments across Asia which require press fit connectors. Governments' initiatives to develop smart cities and factories is another factor augmenting their sales in the region.
Europe is the fastest growing region for press fit connectors market supported by automotive giant Germany and focus on electric vehicles. Growing deployment of 5G technology is catalyzing the installation of small cell equipment and base stations across Europe thereby stimulating the demand. North America is another major regional market driven by IoT proliferation and upgrading of communication infrastructure in the US and Canada.
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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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