Automotive Segment to Dominate MEA Press Fit Connector Market during 2021–2028

According to a new market research study on “MEA Press Fit Connector Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type and Application” is expected to reach US$ 702.10 million by 2028 from US$ 505.18 million in 2021. The market is estimated to grow at a CAGR of 4.8% from 2021 to 2028. The report provides trends prevailing in the MEA press fit connector market along with the drivers and restraints pertaining to the market growth. Development of smart cities is the major factor driving the growth of the MEA press fit connector market. However, issues associated with the high cost of connectors and technical challenges hinder the growth of MEA press fit connector market.

The MEA 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 South Africa, Saudi Arabia, UAE, and Rest of MEA.

Middle East & Africa comprises South Africa, the UAE, Saudi Arabia, and other countries. South Africa recorded the highest number of COVID-19 cases in the Middle East & Africa region and is followed by Saudi Arabia and the UAE. The Middle East & Africa region has a smaller number of companies operating or offering market-specific solutions. The countries such as the UAE and South Africa are adopting advanced electronics such as smartphones, smart wearables, and IoT connected devices. Increasing focus of governments toward industrialization is supposed to drive the market growth in Middle Eastern countries.

Aptiv PLC; Fujitsu Limited; Molex, LLC (Koch Industries, Inc.); SAMTEC, Inc.; Sumitomo Electric Industries, Ltd.; and TE Connectivity Corporation are among the leading companies in the MEA 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 2019, Molex, LLC (Koch Industries, Inc.) had showcased high-power electronic solutions in booth 157 at the APEC 2019 tradeshow at the Anaheim Convention Center in California from March 17-21, 2019. Molex EXTreme Power connectors and bus bar solutions were displayed, which are ideal for high-power electronic applications.

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