Global Circular Connectors Market Forecast to Reach $9.7 Billion By 2028 With 7% Annual Growth

The Business Research Company’s Circular Connectors Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

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The circular connectors market is projected to increase from $6.92 billion in 2023 to $7.4 billion in 2024, with a CAGR of 6.9%. Growth is driven by the growing adoption of automation in industries, vehicle electrification, and the increasing shift toward sustainable energy solutions.

How Big Is the Global Circular Connectors Market Expected to Grow, and What Is Its Annual Growth Rate?
The market is expected to grow to $9.7 billion by 2028, with a CAGR of 7%. Growth is driven by investments in infrastructure, the rise of sustainability initiatives, medical applications, and increasing R&D in industrial sectors. Key trends include advancements in digital technologies, miniaturization, and the development of new military technologies and products.

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What Is Driving the Growth of the Circular Connectors Market?
The expanding automotive industry, driven by the demand for electric and hybrid vehicles, along with advancements in autonomous driving technology, is expected to boost the circular connector market. Circular connectors are essential for modern vehicles, supporting the growing number of interconnected applications. The European Automobile Manufacturers' Association reported a 13.9% increase in car sales in the EU in 2023, signaling growing demand for automotive connectors.

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Which Leading Companies Are Driving The Growth Of The Circular Connectors Market Share?
Major companies operating in the market are Eaton Corporation plc, TE Connectivity Ltd., Molex LLC, Amphenol Corporation, Phoenix Contact Deutschland GmbH, Rosenberger GmbH & Co. KG, ITT Inc., Belden Inc., Weidmüller Interface GmbH & Co. KG, HARTING Technology Group, Hirose Electric Co. Ltd., Glenair Inc., Radiall S.A., Souriau, LEMO SA, Smiths Interconnect, JAE Electronics Inc., Yamaichi Electronics Co. Ltd., Omega Engineering Inc., Fischer Connectors SA, Switchcraft Inc., Nicomatic, CUI Devices, Franz Binder GmbH & Co. KG, Cinch Connectivity Solutions

What Are The Key Trends Driving The Growth Of The Circular Connectors Market Size?
In the circular connector market, companies are focusing on creating compact, versatile connectors with features like C-coding compatibility, which ensures secure polarization and future-proofing for industrial standards. Franz Binder GmbH & Co. Elektrische Bauelemente KG introduced its M8 12-pin circular connector in July 2024, offering high contact density and a small footprint, suitable for automation and sensor technology.

How Is the Global Circular Connectors Market Segmented?
The circular connectors market covered in this report is segmented –
1) By Type: Power Connectors, Data Connectors, Signal Connectors, Hybrid Connectors, Other Types
2) By Accessory: Adapters, Backshell And Clamps, Boots And Strain Relief, Caps And Cover, Keying plugs, Seals, Other Accessories
3) By End Use Industry: Automotive, Healthcare, Manufacturing And Processing, Marine, Military And Aerospace, Mining, Oil And Gas, Power And Utilities, Other End Use Industries

Asia Pacific: The Leading Region in the Circular Connectors Market
Asia-Pacific was the largest region in the circular connector market in 2023 and is expected to be the fastest-growing region in the forecast period. The regions covered in the market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Is the Circular Connectors Market?
Circular connectors are durable electrical components used to transmit power, signals, or data. Their cylindrical design allows them to withstand challenging conditions such as temperature extremes and vibrations, making them suitable for industrial applications requiring robust, high-performance connectors.

The Circular Connectors Global Market Report 2024 from The Business Research Company includes the following key information:
•Market size data for both historical and future periods
•Analysis of both macro and microeconomic factors that have impacted the market over the past five years
•Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
•Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.

Overview of the Global Circular Connectors Market Report: Trends, Opportunities, Strategies, and More
The Circular Connectors Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into circular connectors market size, circular connectors market drivers and trends, circular connectors market major players, circular connectors competitors' revenues, circular connectors market positioning, and circular connectors market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.

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