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

According to a new market research study on “SAM Press Fit Connector Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type and Application” is expected to reach US$ 334.04 million by 2028 from US$ 252.66 million in 2021. The market is estimated to grow at a CAGR of 4.1% from 2021 to 2028. The report provides trends prevailing in the SAM 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 SAM press fit connector market. However, issues associated with the high price of connectors and technical challenges hinder the growth of SAM press fit connector market.

The SAM 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 Brazil, Argentina, and Rest of SAM.

South American countries have been witnessing growth in a number of industries over the past few years. Industries such as automotive, aerospace, and equipment manufacturing have experienced a fair growth rate; however, the COVID-19 outbreak has created a significant turmoil among the manufacturers across the industries. Brazil has the highest number of COVID-19 cases, followed by Peru, Chile, Colombia, and Ecuador, among others. The government of South America has taken an array of actions to protect its citizens and contain the COVID-19 spread. Although, Brazil has the largest industrial sector, it is the worst-hit country due to COVID-19 outbreak. This situation highlights limited resources and investments toward product developments, which has slowed-down the adoption of consumer electronics. This factor has negatively impacted the growth of the press fit connector market.

Aptiv PLC; Fujitsu Limited; Diehl Stiftung & Co. KG;  Molex, LLC (Koch Industries, Inc.); SAMTEC, Inc.; Sumitomo Electric Industries, Ltd.; and TE Connectivity Corporation are among the leading companies in the SAM 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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