Report : Europe Press Fit Connector Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Compliant Pressing and Cold Press-in) and Application (Automotive, Telecommunications, Military and Aerospace, Medical, and Others)
Compliant Press-in Segment to Dominate Europe Press Fit Connector Market during 2021–2028
According to a new market research study on “Europe Press Fit Connector Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type and Application” is expected to reach US$ 2,887.02 million by 2028 from US$ 2,155.27 million in 2021. The market is estimated to grow at a CAGR of 4.3% from 2021 to 2028. The report provides trends prevailing in the Europe press fit connector market along with the drivers and restraints pertaining to the market growth. Growing use of electronics and infotainment systems in automotive sector is the major factor driving the growth of the Europe press fit connector market. However, issues associated with the high price of connectors and technical challenges hinder the growth of Europe press fit connector market.
The Europe press fit connector market has been segmented based on type, application, and country. Based on type, the market is segmented into cold press-in and compliant press-in. The compliant press-in segment dominated the market in 2020 and is expected to be the fastest growing during the forecast period. In terms of application, the market is segmented into automotive, telecommunications, military & aerospace, medical, and others. The automotive segment dominated the market in 2020 and military & aerospace segment is expected to be the fastest growing during the forecast period. Based on country, the press fit connector market is classified into Germany, France Italy, Russia, UK, and Rest of Europe.
Due to increased number of COVID-19 cases, the European market also witnessed a sluggish growth in the press fit connector market in the first half of 2020. Countries such as Russia, France, Spain, and the UK had a major count of COVID-19 cases. The semiconductor industry in Europe resumes growth at a slower rate compared to other markets, such as Asia and the U.S. The demand from industrial and automotive electronics has witnessed a substantial hit than consumer electronics due to the impact of COVID-19 pandemic. Post lockdown market has witnessed healthy growth rate owing to the increasing demand for advanced electronics devices to restart the facilities, operations, commercial places, and transportation.
Amphenol ICC; Aptiv PLC; Autosplice; AVX Corporation; Diehl Stiftung & Co. KG; Dietze Group; Fujitsu Limited; Molex, LLC (Koch Industries, Inc.); Positronic; PROVERTHA; Connectors, Cables and Solutions GmbH; SAMTEC, Inc.; Sumitomo Electric Industries, Ltd.; and TE Connectivity Corporation are among the leading companies in the Europe press fit connector market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Sumitomo Electric Industries, Ltd. had launched AirEB. The AirEB is a multi-fiber connector with an expanded beam that has optical performance tolerant to the contamination on the connector mating faces that contributes to cost reduction for massive fiber-optic network operators.
Contact Person: Sameer Joshi
Email Id: firstname.lastname@example.org