Global Commercial Vehicle Connectors Market 2017-2021
About Commercial Vehicle Connectors
The connectors are used to connect subsections of circuits together. Generally, they are used when there is a requirement to disconnect the subsections like power inputs, peripheral connections, or boards. The connectors in automotive applications come in a variety of sizes, shapes, complexities, and quality levels. The market encompasses the connectors fitted in the commercial vehicles for various applications. The global commercial vehicle connectors market is competitive with the presence of several players in the market. However, top firms account for the maximum share of the global market owing to innovation in connectors. In addition, the global automotive connectors market is at the growth stage, and the demand for connectors from the mass segment is becoming crucial for their adoption. The growing electrification of commercial vehicles in terms of powertrain applications, chassis, and connectivity is increasing the demand for connectors in commercial vehicles.
Technavio’s analysts forecast the global commercial vehicle connectors market to grow at a CAGR of 7.33% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global commercial vehicle connectors market for 2017-2021. To calculate the market size, the report considers the revenue of the connectors fitted in the commercial vehicles produced across world.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Commercial Vehicle Connectors Market 2017-2021
Technavio recognizes the following companies as the key players in the global commercial vehicle connectors market: TE Connectivity, Sumitomo Electric Industries, YAZAKI, Delphi Automotive, and Molex.
Other Prominent Vendors in the market are: Amphenol, AVX, Bosch, DuPont, NORMA Group, and Rosenberger.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Derating wire harnesses to reduce weight and heat. The rising electronic applications in the vehicle has increased the complexity of wire harnessing as the number of wires in single wire harness has increased, coupled with supporting equipment, such as clamp and connectors. Therefore, derating of wire harnesses is done to achieve a good balance between weight reduction and heat reduction. The connectors play an important role in derating the wire harnesses as a smaller connector is required to reduce the total footprint of the harness and allow more circuits to run through footprint.”
According to the report, one of the major drivers for this market is Increasing electronic applications in commercial vehicles. In the recent past, the electrification of mechanical components became crucial trend in the passenger car segment. Same is being witnessed in commercial vehicles segment, thus paving the way for the adoption of advanced assistance system in commercial vehicles for optimization. As a result, fleet management solutions are witnessing growing demand worldwide. Additionally, the demand for navigation, safety, comfort, and content is driving the adoption of electrical distribution systems in commercial vehicles. To enable telematics and infotainment system in CVs, the demand for high-speed wiring, connectors, and other electronic technologies is increasing.
Further, the report states that one of the major factors hindering the growth of this market is Frequent change in market dynamics leading to shorter product life cycle. Technological innovations and dynamic consumer expectations are reducing the average life cycle of vehicles. This is adding pressure on SRCs and automotive electronics manufacturers to cater to the demanding needs of OEMs and tier-1 suppliers. In the past, the average shelf life of a vehicle ranged from 8 to 10 years. However, drastic changes in the form of propulsion technologies, electrification, and engine downsizing have reduced the duration of product life cycle to 4-6 years. We have noticed such a trend in the consumer electronics and mobile device industries; a similar trend is expected in the automotive industry.
TE Connectivity, Sumitomo Electric Industries, YAZAKI, Delphi Automotive, Molex, Amphenol, AVX, Bosch, DuPont, NORMA Group, and Rosenberger.
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