Market Introduction
APAC is the major market for press fit connectors as rising urbanization, increasing population, and growing industrial sector have increased the demand for power in countries such as China and India. China, Japan, India, and South Korea are among the major manufacturing hubs in APAC. China and Japan are among the largest producers of electronic products. South Korea is one of the world’s largest manufacturers of semiconductor equipment, and its semiconductor industry contributes significantly to its GDP. India produces radio receivers, metal manufactures, railway rolling stock, automobiles, bicycles, and precision instruments. China has also made considerable progress in the field of engineering. Other Asian countries primarily concentrate on producing durable consumer goods. Japan, Singapore, Malaysia, Taiwan, and South Korea are at the forefront of computer hardware manufacturing, software development, and information processing. Raised requirement of press fit connectors in aerospace & defense sector is the major factor driving the growth of the APAC press fit connector market.
The COVID-19 pandemic has severely impacted APAC due to wide disease spread; countries in this region are among the highly populated, which leads to the greater risk infection spread. According to the Organization for Economic Co-operation and Development (OECD), the pandemic has affected major economies such as China, India, Australia, and Japan, which are experiencing inflation. India is the worst-hit country by the pandemic in this region. Many global brands and technological companies are headquartered in the region. The limitations imposed by governments to control the spread of COVID-19, the impact of the disease on populations of different countries in the region, and current inability to utilize production capabilities are the key factors impacting press fit connector market in Asian countries. Therefore, the COVID-19 pandemic is likely to continue to hinder the press fit connector market growth in APAC.
Market Overview and Dynamics
The press fit connector market in APAC is expected to grow from US$ 3,283.18 million in 2021 to US$ 4,618.34 million by 2028; it is estimated to grow at a CAGR of 5.0% from 2021 to 2028. Press fit connectors have a high demand in the networking and communication sector as they enable enhanced connectivity and reliability. Syneo, a precision tooling and machine manufacturer, is using the compliant-pin technology to produce highly reliable electromechanical interconnects without using solder. This is being achieved through the insertion of a specially stamped terminal into a plated-through hole (PTH) of a printed circuit board (PCB). Further, advancements in connector technology are leading to improvements in device performance along with offering better space utilizing solutions. The press fit connector market players are developing high-speed end connectors for Serializer/Deserializer (SERDES) applications, such as supercomputing, high-speed networking, and supercomputing. In April 2019, Fairview Microwave Inc., a brand of Infinite Electronics introduced a new series of high-speed PCB connectors, supporting the high data rates. These newly launched connectors are designed for high-speed networking and supercomputing applications, as they support high data rate transfers. The growing consumption of high-speed networking devices and computers is a major supporting the press fit connector market growth. The increasing adoption of consumer electronics such as digital cameras; printers; TVs; gaming consoles; and connected devices such as laptops, tablets, PCs, and smartphones is further driving the demand for high-speed connectivity. To meet these requirements, advanced connectors are introduced in the market to facilitate faster, efficient, and compact interfaces. Thus, the demand for press fit connector devices is increasing with the rising consumption of computers, networking devices, cloud servers, and advanced electronics in the telecommunications sector.
Key Market Segments
The APAC 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.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on press fit connector market in APAC are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Amphenol ICC; Aptiv PLC; Autosplice; AVX Corporation; Diehl Stiftung & Co. KG; Fujitsu Limited; Molex, LLC (Koch Industries, Inc.); Positronic; SAMTEC, Inc.; Sumitomo Electric Industries, Ltd.; and TE Connectivity Corporation are among others.
Reasons to buy report
APAC Press Fit Connector Market Segmentation
APAC Press Fit Connector Market –By Type
APAC Press Fit Connector Market –By Application
APAC Press Fit Connector Market -By Country
APAC Press Fit Connector Market -Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 3,283.18 Million |
| Market Size by 2028 | US$ 4,618.34 Million |
| CAGR (2021 - 2028) | 5.0% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
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|
Regions and Countries Covered
|
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| Asia-Pacific | China, India, Japan, Australia, Rest of Asia-Pacific |
| Market leaders and key company profiles |
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The Asia Pacific Press Fit Connector Market is valued at US$ 3,283.18 Million in 2021, it is projected to reach US$ 4,618.34 Million by 2028.
As per our report Asia Pacific Press Fit Connector Market, the market size is valued at US$ 3,283.18 Million in 2021, projecting it to reach US$ 4,618.34 Million by 2028. This translates to a CAGR of approximately 5.0% during the forecast period.
The Asia Pacific Press Fit Connector Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Press Fit Connector Market report:
The Asia Pacific Press Fit Connector Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Press Fit Connector Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Press Fit Connector Market value chain can benefit from the information contained in a comprehensive market report.
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