Press Fit Connector Market Research, 2032
The global press fit connector market size was valued at $8.7 billion in 2022, and is projected to reach $13.5 billion by 2032, growing at a CAGR of 4.8% from 2023 to 2032.
A press-fit connector is a type of electrical connector used to join electronic parts or printed circuit boards (PCBs) mechanically securely and effectively without soldering. These connectors are made to be forcefully placed into appropriately sized holes on a PCB or other matching components in place of soldering. This creates a solid mechanical connection.
The communication and networking industry has a strong need for press fit connectors because they promote improved connection and dependability. The compliant-pin technology is being used by Syneo, a maker of precision tools and machinery, to create dependable electromechanical interconnects without the need of solder. This is accomplished by inserting a specially stamped terminal into a printed circuit board (PCB)'s plated-through hole (PTH). Additionally, innovations in connection technology are enhancing device performance and providing better space-utilizing options. For Serializer/Deserializer (SERDES) applications, such as supercomputing and high-speed networking, the press-fit connector manufacturers are creating high-speed end connectors.
The need for high-speed connectivity is being further fueled by the rising usage of consumer electronics such as‐¯digital cameras, printers, TVs, gaming consoles, and linked devices like laptops, tablets, PCs, and smartphones. Advanced connections have become available in the market to enable quicker, more effective, and more compact interfaces to satisfy these needs. Thus, as demand for computers, networking equipment, cloud servers, and complex electronics rises in the telecommunications industry, so does the need for press-fit connection devices.
The press fit connector market outlook is segmented into Material and Application.
On the basis of material, it is categorized into brass and stainless steel. Stainless Steel generated the largest revenue in 2022.
As per application, it is fragmented into automotive, electronic, and data and communication. Automotive dominated the press fit connector market share in 2022.
Region wise, the press fit connector market trends are analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa). Asia-Pacific generated the largest revenue in 2022 during the forecast period.
Country-wise, the U.S. acquired a prime share in the press fit connector market in the North American region and Mexico is expected to grow at a significant CAGR during the forecast period of 2022-2032. The U.S., holds a dominant position in the press fit connector market, owing to the rise in investment by prime vendors to boost the press fit connector market growth.
In Europe, the UK, dominated the press fit connector market, in terms of revenue, in 2022 and is expected to follow the same trend during the forecast period. However, Germany is expected to emerge as the fastest-growing country in Europe's press fit connector with a notable CAGR, due to advancement in the microelectronics in the country and thus creates lucrative growth opportunities for the press fit connector market in Germany.
In Asia-Pacific, China is expected to emerge as a significant market for the press fit connector industry, owing to new product developments and a significant rise in investment by prime players and government institutions. The well-established electronics industry in the Asia-Pacific region and the adoption of innovative technologies have given organizations in the region a competitive edge in the market.
In the LAMEA region, the Middle East countries garner significant market share in 2022 due to the adoption of new technologies, digital transformation and connectivity are reshaping the future of the automotive and consumer electronics industry in the Middle East. Moreover, the Latin America region is expected to grow at a significant CAGR from 2022 to 2032, owing to shifts in artificial intelligence, industry 4.0, and smart technological changes in recent years, which is expected to reshape the growth of the press fit connector in the Latin America region.
TOP IMPACTING FACTORS
Top impacting factors of the press fit connector market include increase in adoption of electronics and infotainment systems in automotive sector, which fuels the demand for press fit connectors. In addition, the surge in demand for electronic systems and durable electricals is also growing. However, in high mechanical stress it is less secured and leads to intermittent connections or complete failure restricting market growth. On the contrary, the adoption of high-speed data transfers solutions in aerospace and defense provides lucrative Press Fit Connector Market Opportunity.
Historical Data & Information
The press fit connector market is highly competitive, owing to the strong presence of existing vendors. Vendors in the press fit connector market with extensive technical and financial resources are expected to gain a competitive advantage over their competitors as they can cater to market demands. The competitive environment in this market is expected to increase owing to technological innovations, product extensions, and different strategies adopted by key vendors increase.
The key market leaders profiled in the report include TE Connectivity Ltd., Amphenol Corporation, Fujitsu Limited, HARTING Technology Group, Japan Aviation Electronics Industry, Ltd., J.S.T. Mfg. Co., Ltd., Radiall, Samtec Inc., and Interplex Holdings Pte. Ltd. These key players have adopted strategies, such as geographical expansion, product launch, acquisitions, partnership, and business expansion, to enhance their market penetration.
KEY DEVELOPMENTS/ STRATEGIES
TE Connectivity Ltd., Amphenol Corporation, Fujitsu Limited, HARTING Technology Group, and Japan Aviation Electronics Industry, Ltd. are the key players of the press fit connector market. Top market players have adopted various strategies, such as acquisition, agreement, business development, business expansion, collaboration, product launch, innovation, and product expansion to expand their foothold in the press fit connector market.
- In May 2022, HARTING launched an additional solution with 22 pins and a PE for inter-car jumpers. This series offers interfaces for connecting remote control and data transmission lines to locomotive-hauled passenger trains.
- In January 2023, J.S.T. Mfg. Co., Ltd. launched HVM connector. It is developed for withstanding high voltage, miniaturization, and surface mounting connector for automotive.
- In November 2022, Interplex released its multi-row board-to-board (BTB) connector product. It is a snap-in biscuit design. This ingenious interconnect allows multiple connector units to be stacked together. This means interconnections can be appropriately sized while avoiding the need for them to be custom built.
KEY BENEFITS FOR STAKEHOLDERS
- This study comprises analytical depiction of the press fit connector market demand size along with the current trends and future estimations to depict the imminent investment pockets.
- The overall press fit connector market analysis is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The press fit connector market forecast is quantitatively analyzed from 2022 to 2031 to benchmark the financial competency.
- The Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the press fit connector.
- The report includes the share of key vendors and market trends.
Press Fit Connector Market Report Highlights
Market Size By 2032
USD 13.5 billion
CAGR of 4.8%
2022 - 2032
Key Market Players
Radiall, Japan Aviation Electronics Industry, Ltd., TE Connectivity Ltd., Interplex Holdings Pte. Ltd., Amphenol Corporation, Fujitsu Limited, J.S.T. Mfg. Co., Ltd., HARTING Technology Group, Samtec Inc.
The press-fit connector market is anticipated to depict a prominent growth during the forecast period, owing to various factors, such as the increase in adoption of transmission in the communication industry. In addition, the market is influenced by growth in investments in the telecommunication sector and rise in urbanization which drives the market growth. However, in high mechanical stress press fit connectors are less secured leading to intermittent connections or complete failure. Each of these factors is anticipated to have a definite impact on the global press-fit connector market during the forecast period.
The press-fit connector market exhibits high growth potential in data and communication, electronics, and automotive. The benefits of press-fit connectors for environmental sustainability help to expand the market. Press-fit connections provide advantages including a reduced dependence on hazardous chemicals used in soldering operations and the capacity to readily recycle components, coinciding with eco-friendly initiatives, as the electronics sector seeks more environmentally friendly production techniques.
The key players of the press-fit connector market include TE Connectivity Ltd., Amphenol Corporation, Fujitsu Limited, HARTING Technology Group, Japan Aviation Electronics Industry, Ltd., J.S.T. Mfg. Co., Ltd., Radiall, Samtec Inc., and Interplex Holdings Pte. Ltd.