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.
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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.
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Mechanical Connectors Market Scope |
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Report Coverage |
Details |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.54% |
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Market growth 2023-2027 |
USD 4.46 billion |
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
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