Compliant Press-in Segment to Dominate North America Press Fit Connector Market during 2021–2028

According to a new market research study on “North America Press Fit Connector Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type and Application” is expected to reach US$ 2,528.36 million by 2028 from US$ 1,848.75 million in 2021. The market is estimated to grow at a CAGR of 4.6% from 2021 to 2028. The report provides trends prevailing in the North America press fit connector market along with the drivers and restraints pertaining to the market growth. Continuous flourishment of telecommunications sector is the major factor driving the growth of the North America press fit connector market. However, issues associated with the high cost of connectors and technical challenges hinder the growth of North America press fit connector market.

The North America 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 US, Canada, and Mexico.

North American market suffered a huge loss in the first half of 2020 owing to the high number of COVID-19 cases, specifically in the US. Post lockdown, the market witnessed increasing demand for digital devices. North America is known for the highest rate of adoption of advanced technologies due to favourable government policies to boost innovation and strengthen infrastructure capabilities. As a result, any factor affecting performance of industries in the region hinders its economic growth. Currently, the US is the world's worst-affected country due to the COVID-19 outbreak, which has led governments to impose several limitations on industrial, commercial, and public activities in the country, to control the spread of infection. Hence, the demand for passive components has steadily declined as a result of the suspension of operations in numerous industries, the closing of different production units, and people's unwillingness to enter the work force. Therefore, the COVID-19 epidemic and its repercussions are wreaking havoc on North America's press fit connector market down. The COVID-19 outbreak has a major impact on manufacturing facilities as production capacities were lowered. As the demand for electronics remained constant, it helped the market to resume the growth. COVID-19 has a temporary impact on this market because only the production and supply chain are halted. Production, supply chains, and demand for press fit connector will steadily improve as the situation improves.

Amphenol ICC; Aptiv PLC; Autosplice; AVX Corporation; Diehl Stiftung & Co. KG; Dietze Group; Fujitsu Limited; Mill-Max Mfg. Corp.; Molex, LLC (Koch Industries, Inc.); Positronic; SAMTEC, Inc.; Sumitomo Electric Industries, Ltd.; and TE Connectivity Corporation are among the leading companies in the North America 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.

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