Overview of global connector development
In recent years, benefiting from the continuous development of downstream industries such as new energy vehicles, data and communications, computers and peripherals, and consumer electronics, the global connector market demand has continued to grow. According to statistics from Bishop &Associates, the global market size of connectors has grown from $55.402 billion in 2014 to $77.991 billion in 2021, with an average annual compound growth rate of 5.01%, and the global connector scale in 2021 has increased by 24.30% compared with 2020.
From the perspective of market application field distribution, the specific application fields of connectors can be divided into automotive, communications and data transmission, computers and peripherals, industry, transportation, military aviation, consumer and other categories. In the global connector market in 2021, connectors in the fields of communication and data transmission, automobiles, computers and peripherals, and industry account for a larger proportion, accounting for 23.5%, 21.9%, 13.1% and 12.8% of the connector market, respectively.
From the perspective of market regions, according to Bishop &Associates statistics, the global connector market in 2021 is mainly distributed in China, Europe, North America and Asia-Pacific (excluding Japan and China) regions. Among them, China accounted for 32.0% share, Europe accounted for 20.9% share, North America accounted for 21.1% share, Asia-Pacific accounted for 14.6% share, Japan accounted for 6.8% share, and the above five regions accounted for 95.4% share of the global connector market.
China connector development overview
In recent years, with the continuous advancement of the wave of information technology, China’s information construction has developed rapidly and the scale has jumped to the forefront of the world, and great progress has been made in quality and technology, among which emerging industries such as smart phones, communication equipment and drones have greater influence. As a basic component to achieve informatization, connectors benefit from the continuous expansion of informatization construction investment.
According to Bishop & Associates data show that from 2014 to 2021, China’s connector market size grew from $14.950 billion to $24.978 billion, with a compound annual growth rate of 7.61%, higher than the global growth rate of 5.01% in the same period. From 2014 to 2021, China’s connector market share in the global market increased from 27.5% to 32.0%, and China has become the world’s largest connector consumer market.
With the acceleration of China’s economic transformation and structural adjustment, the manufacturing industry is ushering in a new key point of development. New equipment needs, new consumer needs, new people’s livelihood needs, and new national security needs require the manufacturing industry to rapidly improve its technical level and manufacturing capacity. Continuously stimulating the vitality and creativity of the manufacturing industry and promoting the transformation and upgrading of the manufacturing industry has become an important strategy of the state. With the transformation and upgrading of the domestic manufacturing industry, China’s connector market will continue to develop rapidly in scale and depth.
Post time: Oct-27-2023