The press fit connector market size is projected to reach US$ 11.89 billion by 2031 from US$ 7.49 billion in 2023. The market is expected to register a CAGR of 6.0% during 2023–2031. The continuous flourishment of the telecommunication sector and the growing use of electronics and infotainment systems in the automotive sector are likely to be the key drivers and trends of the market.
The press fit connector market is experiencing significant growth globally. This growth is attributed to factors such as the continuous flourishment of the telecommunication sector and the growing use of electronics and infotainment systems in the automotive sector. Moreover, growing requirement for press fit connectors in the aerospace and defense sector and the development of smart cities.
Press-fit connectors offer reliable and solder-free connectivity solutions ideal for an expansive range of applications across multiple industries. As the latitude of the press-in zone is larger than the PCB hole, the elastic contraction of two press-fit flexible parts by enlargement makes the press-fit terminal inserted into the conductive hole of the circuit board to realize the highly reliable electro-mechanical interconnects with low-ohmic resistance between the PCB board and press-fit connector.
With more than 250 million mobile users growing, the American telecommunications industry is growing. The industry has experienced major investment activity in fiber deployments, HFC technology upgrades, and mobile broadband networks to respond to the increasing expectations of subscribers. Furthermore, connectivity and communication are important for any organization. Businesses need to communicate information comprehensively, quickly, and flexibly to stay competitive in different markets. The subsequently growing reliance on telecommunications results in an elevated need for efficient data transmission solutions in various businesses to support aspects such as remote work, video conferencing, high-definition content streaming, and a proliferating network of Internet-connected devices. Thus, press-fit connectors are used widely in the telecom sector.
A smart city is a municipality that utilizes information and communication technologies (ICT) to grow operational efficiency, share information with the public, and improve both the citizen welfare and the quality of government services. Smart cities rely heavily on advanced electronic systems for infrastructure transportation, communication, and public services. Press-fit connectors, known for their reliability and ease of installation, are essential components in these systems. IoT devices are fundamental to smart city operations, including smart grids, smart lighting, and smart transportation systems.
Key segments that contributed to the derivation of the press fit connector market analysis are type and application.
The geographic scope of the press fit connector market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America has dominated the press fit connector market. High technology adoption trends in various industries in the North American region have fuelled the growth of the press fit connector market. Factors such as increased adoption of digital tools and high technological spending by government agencies are expected to drive the North American press fit connector market growth. The continuous flourishment of the telecommunication sector and the growing use of electronics and infotainment systems in the automotive sector. Moreover, a strong emphasis on research and development in the developed economies of the US and Canada is forcing the North American players to bring technologically advanced solutions into the market. In addition, the US has a large number of presses fit connector market players who have been increasingly focusing on developing innovative solutions. All these factors contribute to the region's growth of the press fit connector market.
The regional trends and factors influencing the Press Fit Connector Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Press Fit Connector Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 7.49 Billion |
| Market Size by 2031 | US$ 11.89 Billion |
| Global CAGR (2023 - 2031) | 6.0% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Press Fit Connector Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Press Fit Connector Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The press fit connector market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the press fit connector market are listed below:
The “Press Fit Connector Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
The global press fit connector market is expected to reach US$ 11.89 billion by 2031.
The key players holding majority shares in the global press fit connector market are Positronic, TE Connectivity Corporation, Amphenol ICC, Dietze Group, Autosplice, Fujitsu Limited, SAMTEC, Inc., Molex, LLC (Koch Industries, Inc), Aptiv PLC, Diehl Stiftung & cc KG.
The development of smart cities is anticipated to drive the market in the forecast period.
The continuous flourishment of the telecommunication sector and the growing use of electronics and infotainment systems in the automotive sector are some of the factors driving the press fit connector market.
North America is anticipated to dominate the press fit connector market in 2023.
The expected CAGR of the press fit connector market is 6.0%.