Mechanical Connectors Market size to grow by USD 4.46 billion from 2022 to 2027; Growth Driven by Increasing demand for mechanical connectors in the automotive industry- Technavio

NEW YORK, Nov. 13, 2023 /PRNewswire/ — The mechanical connectors market by application (automotive, industrial, aerospace and defense, and chemicals and others), type (aluminum, copper, brass, and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa) – Forecast and Analysis 2023-2027″ report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the mechanical connectors market from 2022 to 2027 is USD 4.46 billion. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here

Increasing demand for mechanical connectors in the automotive industry is a key factor driving market growth. Products for the manufacture of auto parts and components such as car bodies, seats, or heat exchangers, are mainly designed to be made from metal connectors. In addition, mechanical connectors are of the highest importance for connecting wires, cables, or harnesses to each other and ensuring that there is an uninterrupted electric connection from different components, including batteries and alternators. Hence, these factors are expected to drive market growth during the forecast period. 

Market Challenge

Fluctuating raw material prices of mechanical connectors is a significant challenge restricting market growth. Aluminum, copper, and brass are the main materials from which mechanical connectors are manufactured. The prices of materials may be adversely affected due to reduced demand in these sectors. In addition, manufacturers of mechanical connectors are increasing production costs and reducing their profit margins because of fluctuations in raw material prices. Hence, these factors are expected to restrict market growth during the forecast period.

Learn about additional key drivers, trends, and challenges available with Technavio. Read Sample PDF Report Now

The mechanical connectors market is segmented by application (automotive, industrial, aerospace and defense, and chemicals and others), type (aluminum, copper, brass, and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa). 

The market share growth by the automotive segment will be significant during the forecast period. As connectors are becoming more and more integral to connecting the engine components like fuel lines, coolant tubes, chassis hoses, and Suspensions as well as a number of other connections including cables and wires, demand for mechanical connection devices will be further increased in different automotive applications.APAC is estimated to contribute 37% to the growth of the global market during the forecast period.

View the Sample Report for insights into the contribution of all the segments and regional opportunities in the report.

Key Companies in the mechanical connectors market:

3M Co., ABB Ltd., Axis Electrical Components India Pvt. Ltd., Birkett Electric Ltd., Componect AG, Conex Metals, Connector Subsea Solutions, Conway, Electrofocus Electricals, HellermannTyton GmbH, Hirpara Metal Industries, Hubbell Inc., Nexans SA, NILED, NSI Industries LLC, Panduit Corp., Prysmian Spa, Raychem RPG Pvt. Ltd., STATS Group, TE Connectivity Ltd., and Tempo Communications Inc.

Related Reports:

The thin film encapsulation (TFE) market size is estimated to grow at a CAGR of 18.9% between 2022 and 2027. The market size is forecast to increase by USD 140.58 million.

The atomic layer deposition market size is estimated to grow at a CAGR of 10.29% between 2022 and 2027. The market size is forecast to increase by USD 2,003.37 million. 

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Application

Market Segmentation by Type

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base comprises enterprises of all sizes, including over 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/mechanical-connectors-market-size-to-grow-by-usd-4-46-billion-from-2022-to-2027-growth-driven-by-increasing-demand-for-mechanical-connectors-in-the-automotive-industry–technavio-301984382.html

SOURCE Technavio