Heavy-Duty Connectors: Worldwide Market Analysis & Forecast (2018-2023) - Expected to Register a CAGR of 4.6% - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Oct 9, 2018--The “Heavy-Duty Connector Market by Component (Hood and Housing, Insert and Contact), Material (Metal and Plastic), Termination Method (Crimp and Screw), Application, and Geography - Global Forecast to 2023” report has been added to ResearchAndMarkets.com’s offering.
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 insert and contact segment is expected to hold the largest size of the heavy-duty connector market, based on type, by 2023. Moreover, the growth of this market is being propelled by the wide adoption of inserts and contacts in applications, such as manufacturing, railways, and oil & gas across the world.
The metal segment held a larger share of the overall heavy-duty connector market based on materials. The metal heavy-duty connector is the most mature technology, which is widely adopted in various industries. These connectors are durable, require less frequent replacements, and are more likely to sustain under extreme conditions.
However, the market for the plastic material is expected to grow at a significant CAGR during the forecast period. Plastic heavy-duty connectors are considered to be the most reliable and viable option 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 over metal.
The heavy-duty connector market for the manufacturing application is expected to grow at the highest CAGR during the forecast period. The adoption of automation solutions in heavy industries such as automotive, food & beverages, chemicals, and metals is growing significantly. Heavy-duty connectors are adopted as they enable power, signal, and data transmission in one system, and they, simultaneously, are capable of withstanding extreme conditions such as moisture, dust, chemical substances, high temperatures, vibrations, and shocks throughout the intended life cycle.
Further, the heavy-duty connector market for the railway application is expected to grow at a significant rate due to the rising investments by several governments and private firms across the world for railway infrastructure development with the aim to increase passenger comfort and avoid uncertain mishaps.
Profiles for the following are included in this report:
Key PlayersTE Connectivity Pheonix Contact Harting Technology Weidmuller Interface Molex Amphenol Sine Systems Weiland Electric ITT Cannon ODU Lapp
Other PlayersSmiths Interconnect Walther Electric China Utility Electrical Xiamen Wain Electrical Bulgin Ningbo Degson Electronics Indo Electricals Schaltbau Ningbo Oukerui Connector Weald Electronics
For more information about this report visit https://www.researchandmarkets.com/research/qmtxfw/heavyduty?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20181009005583/en/
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SOURCE: Research and Markets
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PUB: 10/09/2018 07:04 AM/DISC: 10/09/2018 07:04 AM