Press Fit Connector Market Size and CAGR by 2031
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.
Press Fit Connector Market Analysis
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 Connector Market Overview
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.
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Press Fit Connector Market: Strategic Insights
Market Size Value in US$ 8,045.0 Million in 2020 Market Size Value by US$ 11,069.9 Million by 2028 Growth rate CAGR of 4.7% from 2021-2028 Forecast Period 2021-2028 Base Year 2021
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Press Fit Connector Market: Strategic Insights
| Market Size Value in | US$ 8,045.0 Million in 2020 |
| Market Size Value by | US$ 11,069.9 Million by 2028 |
| Growth rate | CAGR of 4.7% from 2021-2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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Press Fit Connector Market Drivers and Opportunities
The Continuous Growth of Telecommunication Sectors to Favor Market
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.
Development of Smart Cities.
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.
Press Fit Connector Market Report Segmentation Analysis
Key segments that contributed to the derivation of the press fit connector market analysis are type and application.
- Based on type, the press fit connector market is divided into compliant pressing and cold press-in. The compliant pressing segment is anticipated to hold a significant market share in the forecast period.
- Based on application, the press fit connector market is divided into automotive, telecommunications, military and aerospace, medical, and others. The automotive segment is anticipated to hold a significant market share in the forecast period.
Press Fit Connector Market Share Analysis by Geography
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.
Press Fit Connector Market Report Scope
Press Fit Connector Market News and Recent Developments
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:
- Smith’s Interconnect is thrilled to announce the release of the Press-Fit version of its renowned cPCI connector series. This innovative addition underscores Smiths Interconnect’s dedication to meeting the rigorous demands of the Defense, Space, and Commercial Aerospace markets. (Source: Smith’s Interconnect Company Website, July 2024)
- Provertha launched a new tamper-proof connector in the M12 design for applications in industrial automation, especially for encoder housings that are exposed to high vibrations. Thanks to a patented press-fit section, this connector eliminates the disadvantages currently associated with screw-in connectors. (Source: March Company Website, March 2023)
Press Fit Connector Market Report Coverage and Deliverables
The “Press Fit Connector Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Press fit connector market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Press fit connector market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Press fit connector market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the press fit connector market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type and 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, Russia, Saudi Arabia, South Africa, South Korea, UAE, UK, US
Frequently Asked Questions
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%.
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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