Importance & Business Growth of Heavy-Duty Connector Market 2018-2023
Heavy-Duty Connector Market by Component (Hood and Housing, Insert and Contact), Material (Metal and Plastic), Termination Method (Crimp and Screw), Application (Manufacturing, Construction, Railway, Oil & Gas, Construction), and Geography - Global Foreca
(EMAILWIRE.COM, June 29, 2018 ) The overall heavy-duty connector market is estimated to grow from USD 2.81 Billion in 2018 to USD 3.51 Billion by 2023, at a CAGR of 4.6% between 2018 and 2023. The growth of this market is being propelled by the increase in the importance of industrial safety, rise in the adoption of industrial automation solutions, mandatory functional safety standards and government regulations, and emphasis on energy-efficient manufacturing.The overall heavy-duty connector market is estimated to grow from USD 2.81 Billion in 2018 to USD 3.51 Billion by 2023, at a CAGR of 4.6% between 2018 and 2023.
The growth of this market is being propelled by the increase in the importance of industrial safety, rise in the adoption of industrial automation solutions, mandatory functional safety standards and government regulations, and emphasis on energy-efficient manufacturing.
For more information, download PDF brochure: https://tinyurl.com/ya3nc5jr
The growth of this market can be attributed to the rise in the adoption of industrial automation solutions.
The adoption of industrial automation equipment such as industrial robots, field devices, and smart equipment has increased significantly among manufacturers from industries such as food & beverages, oil & gas, metals & mining and automotive.
The heavy-duty connector market based on components is led by the “insert and contact” segment in terms of size. Inserts and contacts are the core components of the heavy-duty connector.
Based on materials, the market for plastic heavy-duty connectors is expected to witness the highest growth rate during the forecast period. At one time, aluminum metal was the primary material option for heavy-duty connectors; however, today, plastic is considered as a reliable and viable option. This is because plastic can be used to create solutions that are lighter, more resilient, and more environmentally friendly. In addition, in many industries, the use of plastic offers advantages, including corrosion-resistance, over metal.
APAC held the largest size of the heavy-duty connector market in 2017, followed by Europe and North America. Rapid industrialization, high adoption of automation solutions, and competitive pressure to achieve operational efficiency are fueling the growth of the heavy-duty connector market in APAC.
China and Japan have a strong hold on the manufacturing industry and witness a high demand for automation and industrial robotics; moreover, these countries also comprise top manufactures of construction equipment and electric locomotive manufactures. Furthermore, in India, proactive initiatives taken by the Indian government promoting the use of heavy-duty connectors in manufacturing, railway, oil & gas, and energy applications are encouraging the growth of the heavy-duty connector market.
Weidmuller Interface (Germany), Phoenix Contact (Germany), TE Connectivity (Switzerland), Amphenol Sine Systems (US), Molex (US), Harting Technology(Germany), XiamenWain Electrical (China), Wieland Electric (Germany), ITT (US), ODU (Germany), and Lapp (Germany) are the major players operating in this market.
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Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Rohan
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
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sales@marketsandmarkets.com
The growth of this market is being propelled by the increase in the importance of industrial safety, rise in the adoption of industrial automation solutions, mandatory functional safety standards and government regulations, and emphasis on energy-efficient manufacturing.
For more information, download PDF brochure: https://tinyurl.com/ya3nc5jr
The growth of this market can be attributed to the rise in the adoption of industrial automation solutions.
The adoption of industrial automation equipment such as industrial robots, field devices, and smart equipment has increased significantly among manufacturers from industries such as food & beverages, oil & gas, metals & mining and automotive.
The heavy-duty connector market based on components is led by the “insert and contact” segment in terms of size. Inserts and contacts are the core components of the heavy-duty connector.
Based on materials, the market for plastic heavy-duty connectors is expected to witness the highest growth rate during the forecast period. At one time, aluminum metal was the primary material option for heavy-duty connectors; however, today, plastic is considered as a reliable and viable option. This is because plastic can be used to create solutions that are lighter, more resilient, and more environmentally friendly. In addition, in many industries, the use of plastic offers advantages, including corrosion-resistance, over metal.
APAC held the largest size of the heavy-duty connector market in 2017, followed by Europe and North America. Rapid industrialization, high adoption of automation solutions, and competitive pressure to achieve operational efficiency are fueling the growth of the heavy-duty connector market in APAC.
China and Japan have a strong hold on the manufacturing industry and witness a high demand for automation and industrial robotics; moreover, these countries also comprise top manufactures of construction equipment and electric locomotive manufactures. Furthermore, in India, proactive initiatives taken by the Indian government promoting the use of heavy-duty connectors in manufacturing, railway, oil & gas, and energy applications are encouraging the growth of the heavy-duty connector market.
Weidmuller Interface (Germany), Phoenix Contact (Germany), TE Connectivity (Switzerland), Amphenol Sine Systems (US), Molex (US), Harting Technology(Germany), XiamenWain Electrical (China), Wieland Electric (Germany), ITT (US), ODU (Germany), and Lapp (Germany) are the major players operating in this market.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Rohan
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
Contact Information:
MarketsandMarkets™
Mr. Rohan
Tel: 1-888-600-6441
Email us
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MarketsandMarkets™
Mr. Rohan
Tel: 1-888-600-6441
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results