Microminiature Circular Connectors Market Growth 2031
The Microminiature Circular Connectors Market size is projected to reach US$ 2,862.74 million by 2031 from US$ 1,979.30 million in 2023. The market is expected to register a CAGR of 4.7% in 2023–2031. The rising adoption of wireless systems among customers is likely to remain a key microminiature circular connectors market trends.
Microminiature Circular Connectors Market Analysis
The microminiature circular connectors market is growing at a rapid pace due to the growing demand for high-performance microminiature circular connectors in emerging countries and technological advancement. The market is expanding steadily, driven by increasing demand for microminiature circular connectors and expanding military & defense, aerospace & UAV, industrial application, and medical applications. Moreover, the rising demand for miniaturization of electronic equipment is providing lucrative opportunities for market growth.
Microminiature Circular Connectors Market Overview
Microminiature circular connectors are small connectors that are designed for rugged durability, space and weight reductions, and high-density applications. These connectors have smaller pin and jack widths and more closely spaced contacts than normal circular connectors. Microminiature circular connectors are ideal for applications that require portability and weight savings due to their smaller size and weight. Further, the development of innovative microminiature circular connectors has contributed to the increased demand for microminiature circular connectors in military & defense applications. These products are designed to operate in rugged, harsh combat environments and feature push/pull quick disconnect coupling. The microminiature circular connectors are used in a variety of army systems applications, including soldier vest cables, communication and power hubs, radios, and military vehicles. The growing demand for microminiature circular connectors in numerous applications, including such as military & defense, aerospace & UAV, industrial application, and medical, contributes significantly to the overall microminiature circular connectors market growth.
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Microminiature Circular Connectors Market: Strategic Insights
Market Size Value in US$ 1,809.6 Million in 2019 Market Size Value by US$ 2,476.48 Million by 2027 Growth rate CAGR of 4.1% from 2020 to 2027 Forecast Period 2020-2027 Base Year 2020
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Microminiature Circular Connectors Market: Strategic Insights
| Market Size Value in | US$ 1,809.6 Million in 2019 |
| Market Size Value by | US$ 2,476.48 Million by 2027 |
| Growth rate | CAGR of 4.1% from 2020 to 2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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Microminiature Circular Connectors Market Drivers and Opportunities
Growing Demand for High-Performance Microminiature Circular Connectors in Emerging Countries
The growing demand for high-performance gigabit processing rates at low voltages is necessary to manage large volumes of data is fueling the global microminiature circular connectors market growth during the anticipated period. High-performance microminiature circular connectors are highly integrated into advanced electronics used in medical, automotive, and military & defense applications. These applications are increasingly adopting small, light, and more durable components to offer improved and reliable performance. Moreover, rising urbanization and digitalization in emerging countries such as India, China, Brazil, South Korea, UAE, Turkey, Thailand, and Mexico, among others, are driving demand for microminiature circular connectors.
Rising Demand for Miniaturization of Electronic Equipment – An Opportunity in Microminiature Circular Connectors
The increased need for miniaturized/tiny electronic components among manufacturers, due to technological advancements that fulfill the growing demand for compact consumer devices. Automotive and consumer electronics are the two applications that are highly beneficial from the miniaturization of electronic equipment. The microminiature connectors provide both multipurpose power and component supply voltages. In addition, space constraints and the expansion of military & defense applications, where costs are critical factors, are creating opportunities for the market growth. The miniaturization of microminiature circular connectors finds applications in various applications, including military & defense, aerospace & UAV, industrial application, and medical. Thus, the miniaturization of microminiature circular connectors is anticipated to present new opportunities for the market players during the forecast period.
Microminiature Circular Connectors Market Report Segmentation Analysis
Key segments that contributed to the derivation of the microminiature circular connectors market analysis are type and application.
- Based on type, the microminiature circular connectors market is divided into metal shell and plastic shell. The metal shell segment held a larger market share in 2023.
- On the basis of application, the market is segmented into military & defense, aerospace & UAV, industrial application, medical, and others. The industrial application segment held the largest share of the market in 2023.
Microminiature Circular Connectors Market Share Analysis by Geography
The geographic scope of the microminiature circular connectors market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
In terms of revenue, North America accounted for the largest microminiature circular connectors market share. The market in this region is segmented into US, Canada, and Mexico. Increasing demand for microminiature circular connectors in numerous applications, including military & defense, aerospace & UAV, industrial application, and medical, is driving the microminiature circular connectors market. Furthermore, rising air passenger traffic, decreased maintenance costs, and concerns about flight safety are creating demand for microminiature circular connectors in the region. In addition, technological advancements and product development initiatives by several top companies are driving the market growth during the forecast period.
Microminiature Circular Connectors Market Report Scope
Microminiature Circular Connectors Market News and Recent Developments
The microminiature circular connectors market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for microminiature circular connectors and strategies:
- In July 2022, Franz Binder GmbH & Co. Elektrische Bauelemente KG offer M12 Connectors that deliver the speed, reliability, and ruggedness to fulfill smart factories' demand. M12 connectors are also used to transmit high levels of power supplies for extended time periods in applications such as AC motors and drives, motor control switches, and low-voltage applications like fieldbus Ethernet components and network devices. (Source: Franz Binder GmbH & Co. Elektrische Bauelemente KG, Press Release, 2022)
- In July 2022, Franz Binder GmbH & Co. Elektrische Bauelemente KG developed IP67, IP68, or IP69K waterproof subminiature circular connectors for industrial and automation applications. These connectors can withstand weather conditions in outdoor applications, submersion in greater depth, high-pressure water jets, and aggressive cleaning agents. (Source: Franz Binder GmbH & Co. Elektrische Bauelemente KG, Press Release, 2022)
- In March 2022, Franz Binder GmbH & Co. Elektrische Bauelemente KG will offer the field-wireable products of its M12 series 713, 715, and 825 connectors featuring cage clamp termination technology. These connectors include 4-pin and 5-pin variants, both male and female. Shielded and shieldable products equipped with A, B, and D coding are available. Source: Franz Binder GmbH & Co. Elektrische Bauelemente KG, Press Release, 2022)
- March 2021, TE Connectivity Ltd expanded its O.C.H. micro circular connectors by including a seven-pin design that can enhance a soldier’s ability to communicate from the battlefield. These connectors are used for grounding or as an extra signal line in military battery pack applications. (Source: TE Connectivity Ltd, Press Release, 2021)
Microminiature Circular Connectors Market Report Coverage and Deliverables
The “Microminiature Circular Connectors Market Size and Forecast (2023–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type ; Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The global microminiature circular connectors market was estimated to be US$ 1,979.30 million in 2023 and is expected to grow at a CAGR of 4.7% during the forecast period 2023 - 2031.
The growing demand for high-performance microminiature circular connectors in emerging countries and technological advancements are the major factors that propel the global microminiature circular connectors market.
The rising adoption of wireless systems among customers is anticipated to play a significant role in the global microminiature circular connectors market in the coming years.
The key players holding majority shares in the global microminiature circular connectors market are TE Connectivity Ltd, Amphenol Corp, SOURIAU SUNBANK (EATON), Franz Binder GmbH & Co. Elektrische Bauelemente KG, and Glenair, Inc.
The global microminiature circular connectors market is expected to reach US$ 2,862.74 million by 2031.
The incremental growth expected to be recorded for the global microminiature circular connectors market during the forecast period is US$ 883.44 million.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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