Electric Vehicle (EV) Connector Market, By Component (Housing, Terminal, Lock, Other Components), By Voltage (Medium Voltage, Low Voltage, High Voltage), By System type (Unsealed Connector System, Sealed Connector System), By Propulsion (PHEV, FCEV, BEV, HEV), By Application, By Connection type, and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America). The global Electric Vehicle (EV) Connector market size was estimated at USD 2.6 billion in 2023 and is projected to reach USD 14.6 billion in 2030 at a CAGR of 28% during the forecast period 2024-2030.
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The electric vehicle (EV) connectors market is experiencing significant growth alongside the global shift towards electrification. As the demand for electric vehicles continues to rise, so does the need for robust and efficient connectors that facilitate the transfer of electrical energy from charging stations to vehicle battery packs. These connectors are essential components in EV charging infrastructure, enabling seamless flow of electricity crucial for powering the vehicles.
Regional Analysis
Asia pacific to Dominate the Market
Asia-Pacific is poised to lead the global electric vehicle (EV) connectors market, driven by strong EV adoption and robust development of charging infrastructure, particularly in Japan and China. China's leadership in EV production and infrastructure expansion, supported by government initiatives promoting electric vehicles to reduce pollution and fuel costs, underpins significant market growth in the region.
In North America, substantial growth opportunities exist in the EV connectors market, fueled by major Tier I suppliers like TE Connectivity Ltd., Molex, and Amphenol. These companies play a critical role in supporting EV infrastructure with advanced connector technologies. The region's commitment to sustainable transportation and its concentration of leading automotive manufacturers contribute to an optimistic outlook for market expansion.
Competitive Landscape
· Te Connectivity Ltd.
· Aptiv Plc
· Yazaki Corporation
· Molex Llc
· Sumitomo Electric Industries, Ltd.
· Japan Aviation Electronics Industry, Ltd.
· Amphenol Corporation
· Hirose Electric Co., Ltd.
· Rosenberger Group
· Kyocera Corporation
· Furukawa Electric Co., Ltd.
· Jst Mfg. Co., Ltd.
· Littelfuse, Inc.
· Shenglan Technology Co., Ltd.
· Kinsun Industries Inc. and More
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Recent Developments
In September 2023, Yazaki Corporation announced that Yazaki Egypt had acquired a 67,000 square meter area in the Fayoum investment-free zone. This expansion is aimed at increasing the production capacity for wire harnesses and electrical systems.
In November 2023, Japan Aviation Electronics Industry, Ltd. introduced the MX81 Series, a compact connector designed specifically for in-vehicle electronic devices. This non-waterproof connector is tailored for applications such as ECUs (Electronic Control Units), lighting systems, sensors, and other essential in-vehicle functions.
The Electric Vehicle (EV) Connector Market is segmented into various segments such as Component, Voltage, System type, Propulsion, Application, Connection type and Region:
Based on Component
· Housing
· Terminal
· Lock
· Other Components
Based on Propulsion
· BEV
· PHEV
· FCEV
· HEV
Based on Application
· ADAS and Safety System
· Body Control and Interiors
· Engine Management and Powertrain
· Infotainment System
· Battery Management System
· Vehicle Lighting (Interior and Exterior)
· Other Applications
The Report helps to identify the opportunities in Global Regions:
· North America (the United States, Canada, and Mexico)
· Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
· Asia-Pacific (China, Japan, Korea, India, Australia, and Southeast Asia (Indonesia, Thailand, Philippines, Malaysia, and Vietnam))
· South America (Brazil etc.)
· The Middle East and Africa (North Africa and GCC Countries)
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