Market Introduction
North America is segmented into the US, Canada, and Mexico. The presence of the world’s leading economies such as the US is the key driver for the growth of the press fit connector market in the region. Because of the presence of prominent market players, technical advances, and an increase in the use of press fit connectors in various applications in the region, the press fit connector market in North America is expected to grow during the forecast period. Various authorities believe that semiconductor technology and fabrication are crucial to the US's economic and national security goals. Factors such as rapid urbanization, rise in demand for consumer electronic devices, and widespread adoption of automation technologies across numerous industries—including industrial, defense, and automotive—are propelling the press fit connector market in North America. Continuous flourishment of telecommunications sector is the major factor driving the growth of the North America press fit connector market.
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.
Market Overview and Dynamics
The press fit connector market in North America is expected to grow from US$ 1,848.75 million in 2021 to US$ 2,528.36 million by 2028; it is estimated to grow at a CAGR of 4.6% from 2021 to 2028. Communication has the utmost importance in the aerospace & defense sector to ensure the seamless integration of systems on a plane as well as on the ground. The connectors are developed to meet standards such as VITA and VPX protocols to ensure connectivity even in critical situations and harsh environments. Advancements in the aerospace industry in the form of lightweight aircraft, long-range connecting devices, and unmanned aerial vehicles (UAVs) are pushing the boundaries of connectivity techniques and creating demand for advanced connector systems. Digitalization, remote control, and other advanced technologies are taking control over maneuvers operations, which is creating demand for high-speed data transfers solutions. Companies providing press-fit connectors are also developing new products for ensuring overall compliance with the aerospace & defense industry standards. Therefore, with the growing need for connectors for communication systems, the demand for press fit connectors also increases.
Key Market Segments
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.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on press fit connector market in North America 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; 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 others.
Reasons to buy report
North America Press Fit Connector Market Segmentation
North America Press Fit Connector Market –By Type
North America Press Fit Connector Market –By Application
North America Press Fit Connector Market -By Country
North America Press Fit Connector Market -Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 1,848.75 Million |
| Market Size by 2028 | US$ 2,528.36 Million |
| CAGR (2021 - 2028) | 4.6% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America Press Fit Connector Market is valued at US$ 1,848.75 Million in 2021, it is projected to reach US$ 2,528.36 Million by 2028.
As per our report North America Press Fit Connector Market, the market size is valued at US$ 1,848.75 Million in 2021, projecting it to reach US$ 2,528.36 Million by 2028. This translates to a CAGR of approximately 4.6% during the forecast period.
The North America 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 North America Press Fit Connector Market report:
The North America Press Fit Connector Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Press Fit Connector Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Press Fit Connector Market value chain can benefit from the information contained in a comprehensive market report.
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