Global Cable Connector Market 2024–2033

Reports Description

The Global Cable Connector Market was valued at USD 92,108.6 billion in 2023 and is expected to reach USD 1,89,064.9 billion by 2032, at a CAGR of 7.41% during the forecast period 2023 – 2032.

Connectors are essential electromechanical components that act as intermediaries in electrical and electronic systems. Their main function is to establish a secure and reliable connection between different devices, allowing the transmission of signals, energy, or data.

Connectors come in various types and configurations, each suited to specific applications. Pin layout, contact materials, and packaging design differ, allowing them to bridge connections in various electrical and electronic circuits efficiently.

Cable Connector Market – Significant Growth Factors

Increasing Demand for High-Speed Data Transmission

The growing demand for high-speed data transmission across various industries is a significant driver for the global cable connector market. With the proliferation of data-intensive applications such as 5G networks, IoT devices, and cloud computing, there is a heightened need for efficient and reliable cable connectors to support seamless connectivity.

Adopting high-speed data transmission technologies propels the demand for advanced connectors capable of handling higher data rates. For Instance, in October 2023, TE Connectivity launched 8-pair shielded RJ45 connectors enabling 10GbE speeds in harsh industrial environments. TE Connectivity also unveils 8-pair Ethernet connector for 25G speeds, targeting data centres.

Rising Investments in Infrastructure Development

Increasing investments in infrastructure development projects, including smart cities, transportation networks, and renewable energy systems, contribute significantly to the growth of the cable connector market. Cable connectors play a vital role in establishing the connectivity backbone for these infrastructure projects, enabling efficient communication and power distribution.

The expansion of urbanization and the need for modernization in emerging economies are fuelling infrastructure investments, positively impacting the cable connector market. For instance, in December 2023, China announced a $145 billion investment in 5G infrastructure rollout, boosting demand for high-performance connectors.

Market Restraints

Price Sensitivity and Intense Competition

Price sensitivity among end-users and intense competition among market players significantly restrain the cable connector market. As technology advances, there is constant pressure to deliver cost-effective solutions without compromising quality and performance.

This dynamic pricing environment challenges manufacturers to maintain healthy profit margins while catering to customers’ cost constraints. For instance, in November 2023, Amphenol introduced cost-optimized USB Type-C connectors targeting budget-conscious device manufacturers.

Additionally, numerous local and global players intensify competition, leading to price wars that may impact the overall revenue of market participants.

Challenges in Compatibility and Standardization

The cable connector market faces challenges related to compatibility and standardization, particularly in diverse industries that deploy a wide array of devices and equipment. Ensuring that connectors are compatible with various devices and conform to industry standards can be complex.

This complexity can lead to interoperability issues and additional costs for end-users. Standardization challenges can hinder the seamless integration of cable connectors across different applications and industries, restraining market growth.

For instance, in January 2024, an Industry consortium was formed to define standards for automotive charging connectors, addressing the EV charging compatibility issue.

Market Opportunities

Emergence of Electric Vehicles (EVs)

The growing adoption of electric vehicles presents a substantial opportunity for the cable connector market. Electric vehicles rely on sophisticated cable connectors for efficient power transmission and charging.

With the increasing focus on sustainable transportation and the development of EV infrastructure, there is a rising demand for robust and high-performance cable connectors.

For instance, in September 2023, Molex developed high-voltage, high-current connectors specifically designed for EV battery packs.

 Integration of Industry 4.0 Technologies

Integrating Industry 4.0 technologies, such as smart manufacturing and the Industrial Internet of Things (IIoT), offers promising opportunities for cable connector market players. Industry 4.0 emphasizes using connected devices and intelligent systems in manufacturing processes, driving the need for advanced connectors that support data exchange and automation.

For instance, in October 2023, HARTING unveiled modular industrial connectors with integrated sensors and data transmission capabilities, enabling smart factory applications. The implementation of smart factories and the demand for seamless connectivity solutions in manufacturing environments open up new avenues for cable connector applications.

A report by PwC suggests that companies embracing Industry 4.0 technologies could witness a 20% increase in efficiency by 2022, highlighting the potential growth prospects for cable connectors in this space.

Cable Connector Market Segmentation Analysis

The Global Cable Connector market is segmented by type, material, and end-use industry. Based on type, the market is divided into PCB Connectors, Circular Connectors, Rectangular Connectors, Fiber Optic Connectors, IO Connectors, and others. Among all these segments, the PCB Connector held the highest market share in 2022.

PCB connectors are designed for internal connections within electronic devices, facilitating the connection of printed circuit boards (PCBs). They are further segmented into Surface-Mount Connectors, Through-Hole Connectors, and Edge Connectors.

Further, known for their robustness, circular connectors are designed to withstand harsh environmental conditions, making them suitable for industrial automation, medical equipment, and aerospace applications. Rectangular connectors, which have a rectangular shape, find widespread use in consumer electronics, IT and telecom, and automotive applications.

They are further sub-segmented into USB, HDMI, RJ45 (Ethernet), and VGA connectors. Fiber optic connectors are essential for high-speed data transmission, especially in telecommunications, data centers, and medical imaging.

The cable connector market is segmented by material into plastic, ceramics, and metals. Metals have the highest market share among all these segments, with high-performance and rugged applications, durability, and electromagnetic interference (EMI) shielding.

Based on end use industry, the cable connector market is segmented into IT and telecom, consumer electronics, industrial automation, automotive, aerospace and defense, healthcare, and others. Among all these segments, the automotive sector is expected to have strong demand for connectors, driven by the adoption of advanced electronic systems such as audio controls, driver assistance systems, diagnostics, cruise control, and navigation systems.

Additionally, the recent change in trends in the automotive industry, whereby electric vehicles are rapidly replacing traditional ICE vehicles, is also expected to support the growth of the market studied. This medium contains more sensors and electronic components, expanding the connector use cases.

For Instance, according to the International Energy Agency, the number of battery electric vehicles on the road globally has increased from 1.2 million in 2016 to 11.3 million in 2021.

Report Scope

Cable Connector Market Regional Insight

The global cable connector market is segmented by region into North America, Europe, Asia Pacific, the Middle East, Africa, and Latin America. Of these regions, Asia Pacific held the highest market share in 2022 and is expected to maintain its dominance during the forecast period.

Continuous advancements in communication technology and growth in other end-user industries in the Asia-Pacific region are some of the important factors driving the growth of the cable connector market. China, India, Japan, ASEAN, and South Korea play major roles in this region’s growth.

Furthermore, the growing number of data centers and the need for higher bandwidth drive demand for cables and connectors. China is racing to gain an edge over global rivals in data center construction, with major companies looking to expand their data centers to ensure stability and reliability.

The reliability of data services, such as 5G applications, wearables, the Internet of Things, and artificial intelligence, is driving increasing demand for computing power.

North America held the highest market share in 2022 and is expected to keep its position during the forecast period. Rapidly expanding end-use industries in the U.S. and Canada are playing a major role in this region’s market growth.

Cable Connector Market Competitive Landscape

• TE Connectivity Limited
• Fujitsu Limited
• Huawei Technologies Co. Ltd.
• Axon Cable S.A.S
• Amphenol Corp
• Belden Inc
• BizLink
• General Cable Corp
• L-Com Global Connectivity
• LS Cable & System Ltd.
• Others

These key players are adopting various organic and inorganic growth strategies, such as mergers and acquisitions, joint ventures, expansion, strategic alliances, new product launches, etc., to enhance their business operations and revenues.

Recent Developments in Cable Connector Market

• In July 2022, TTI, Inc., a prominent specialty distributor of electronic components, made its stocking of TE Connectivity’s Industrial Mini-I/O connectors public. This strategic move aims to extend TE Connectivity’s market presence by introducing the Mini I/O connector range. It is renowned for its compact size and robust performance in facing challenges like shock, vibration, and electromagnetic interference. This expansion is anticipated to introduce TE Connectivity to a broader spectrum of customers, further cementing its foothold in the industry.

• In November 2021, TE Connectivity announced the launch of new connectors designed for robots and UAVs. The connector is encased in a high-temperature-rated plastic assembly to protect the unit from extreme environments. The connector is also outfitted with contact position locks to secure the housing during high and frequent vibration events.

The Cable Connector Market is segmented as follows:

By Type

• PCB Connectors
• Circular Connectors
• Rectangular Connectors
• Fiber Optic Connectors
• IO Connectors
• Others

By Material

• Plastic
• Metal
• Ceramic
• Others

By End Use Industry

• IT & Telecom
• Consumer Electronics
• Industrial Automation
• Automotive
• Aerospace & Defense
• Healthcare
• Others

Regional Coverage:

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Russia
• Italy
• Spain
• Netherlands
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Taiwan
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America