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Press Fit Connector Market to hit US$ 11,069.9 million, Globally, by 2028 at 4.7% CAGR: The Insight Partners

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Growing Requirement of Press Fit Connectors in Aerospace & Defense Sector to Provide Growth Opportunities for Press Fit Connector Market During 2021–2028

NEW YORK, UNITED STATES, January 21, 2022 /EINPresswire.com/ -- According to our latest market study on “Press Fit Connector Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type and Application,” the market was valued at US$ 8,045.0 million in 2021 and is projected to reach US$ 11,069.9 million by 2028; it is expected to grow at a CAGR of 4.7% from 2021 to 2028.

Strategic Insights

Report Coverage Details

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
No. of Pages 154
No. Tables 57
No. of Charts & Figures 74
Historical data available Yes
Segments covered North America; Europe; Asia Pacific; Latin America; MEA
Regional scope North America; Europe; Asia Pacific; Latin America; MEA
Country scope US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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Continuous Flourishment of Telecommunications Sector

Press-fit connectors have a high demand in the networking and communication sector as they enable enhanced connectivity and reliability. Syneo, a precision tooling, and machine manufacturer is using the compliant-pin technology to produce highly reliable electromechanical interconnects without using solder. This is being achieved through the insertion of a specially stamped terminal into a plated-through hole (PTH) of a printed circuit board (PCB). Further, advancements in connector technology are leading to improvements in device performance, along with offering better space utilizing solutions. The press-fit connector market players are developing high-speed end connectors for Serializer/Deserializer (SERDES) applications, such as supercomputing, high-speed networking, and supercomputing.

In April 2019, Fairview Microwave Inc., a brand of Infinite Electronics, introduced a new series of high-speed PCB connectors, supporting the high data rates. Similarly, in February 2019, Pasternack, a semiconductor device manufacturing company, introduced a new series of edge launches, PCB connectors in the market. These newly launched connectors are designed for high-speed networking and supercomputing applications, as they support high data rate transfers. The growing consumption of high-speed networking devices and computers is a major support to the press-fit connector market growth.

Impact of COVID-19 Pandemic on Press Fit Connector Market

The COVID-19 pandemic hampered the economic growth of almost all countries. A severe impact on the manufacturing sector is witnessed due to business shutdowns and lockdowns. Sales of various industrial products such as automotive cars and electronics are declined. Office premises, public places, schools, transportation, and other spaces also remained closed, which declined the market growth. The semiconductor industry took a significant hit as the demand for electronic components was lowered from the industrial sector and end-users.

Download the Latest COVID-19 Analysis on Press Fit Connector Market Growth Research Report at https://www.theinsightpartners.com/covid-analysis-sample/TIPRE00024827/

Growing Use of Electronics and Infotainment Systems in Automotive Sector

Connected cars, driverless cars, modern telematics, and advanced infotainment systems are among the modern trends in the automotive sector, which are bolstering vehicle sales. Electric and infotainment systems require advanced connectors to support faster rates of data transfer. Thus, with the increasing electrification of vehicles and the rising adoption of telematics in them, the demand for press-fit connectors is also on the rise. According to the DSM company, ~98% of all new cars are estimated to have an internet connection by 2020. These new connected cars will create demand for 15 FAKRA/HSD connectors. 

The press fit connector market players are also introducing new products for supporting evolving needs of the automotive industry, especially regarding high-speed connectivity solutions. For instance, in September 2019, Kyocera Corporation company introduced new 5655 Series electronic board-to-board connectors for high-speed data transmission. The new connectors that ensure the lowest stacking height for customers are ideal for automotive electronics. Therefore, the growing use of advanced electrical systems in vehicles is contributing to the press fit connector market growth.

Press Fit Connector Market: Competitive Landscape and Key Developments

 Positronic; TE Connectivity Corporation; Amphenol ICC; Dietze Group; Autosplice; Fujitsu Limited; SAMTEC, Inc.; Molex, LLC (Koch Industries, Inc.); Aptiv PLC; Diehl Stiftung & Co. KG; Sumitomo Electric Industries, Ltd.; AVX Corporation; PROVERTHA Connectors, Cables and Solutions GmbH; and Mill-Max Mfg. Corp. Several are among the key players in the global Press Fit Connector market. The leading companies focus on the expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.

Order a Copy of Press Fit Connector Market Shares, Strategies, and Forecasts 2020-2027 Research Report at https://www.theinsightpartners.com/buy/TIPRE00024827/

In June 2021, Sumitomo Electric Industries, Ltd. launched AirEB. The AirEB is a multi-fiber connector with an expanded beam that has optical performance tolerance to the contamination on the connector mating faces, which contributes to cost reduction for massive fiber-optic network operators.

In August 2020, PROVERTHA Connectors, Cables and Solutions GmbH expanded its product portfolio by taking over the D-Sub products from ERNI and offering high-performance D-Sub solutions for several applications.

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About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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If you have any queries about this report or if you would like further information, please contact us:

Contact Person: Sameer Joshi

E-mail: sales@theinsightpartners.com

Phone: +1-646-491-9876

Press Release: https://www.theinsightpartners.com/pr/press-fit-connector-market
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Sameer Joshi
The Insight Partners
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