Overview and Scope
High-voltage wiring connectors are electrical connectors designed to securely and safely join high-voltage wires or cables. These connectors are specifically designed to handle high voltages.
Sizing and Forecast
The high voltage wiring connectors market size has grown strongly in recent years. It will grow from $3.61 billion in 2023 to $3.88 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to industrialization, growth in the energy sector, expansion of the manufacturing sector, increasing urbanization, rising demand for electricity.
The high voltage wiring connectors market size is expected to see strong growth in the next few years. It will grow to $4.96 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to integration of renewable energy sources, electrification of transportation systems, development of high-voltage direct current (hvdc) transmission, increased demand for electric vehicles, upgradation of aging power infrastructure. Major trends in the forecast period include adoption of superconducting materials in high-voltage wiring, growth of offshore wind power transmission, integration of digital technologies in high-voltage systems, development of lightweight and high-performance materials for wiring, implementation of smart sensing and monitoring in power transmission.
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Segmentation & Regional Insights
The high voltage wiring connectors market covered in this report is segmented –
1) By Product: Crimp-On Connector, Plug And Socket Connector, Component And Device Connector, Blade Connector, Other Products
2) By Application: Electric Vehicles, Renewable Energy Systems, Aerospace, Industrial Equipment, Telecommunications, Other Applications
3) By End-User Industry: Automotive, Energy, Aerospace And Defense, Consumer Electronics, Healthcare, Other End Users
Asia-Pacific was the largest region in the high-voltage wiring connectors market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the high voltage wiring connectors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing demand for electric vehicles is expected to propel the growth of the high-voltage wiring connectors market going forward. Electric vehicles (EVs) are vehicles that are powered by one or more electric motors, using electricity stored in batteries or fuel cells instead of internal combustion engines that run on fossil fuels. EVs require efficient power transmission and charging infrastructure, and high-voltage wiring connectors are crucial in ensuring the safe and reliable transfer of high-voltage power within vehicles. For instance, in September 2022, according to the International Energy Agency, a France-based autonomous intergovernmental organization, sales of electric vehicles nearly doubled to 6.6 million in 2021 compared to 2020, increasing the total number of electric vehicles on the road to 16.5 million. Therefore, the increasing demand for electric vehicles is driving the growth of the high-voltage wiring connectors market.
Key Industry Players
Major companies operating in the high voltage wiring connectors market report are Sumitomo Electric Industries Ltd., ABB Ltd., Eaton Corporation, TE Connectivity Ltd., BorgWarner Inc., Yazaki Corporation, Amphenol Corporation, Molex LLC, Nexans S.A., Phoenix Contact GmbH & Co. KG, Hubbell Incorporated, ITT Inc., Hirose Electric Co. Ltd., Stäubli International AG. , HARTING Technology Group, Huber+Suhner AG, Samtec Inc., Smiths Interconnect Inc., Lemo SA, Glenair Inc., Rosenberger Hochfrequenztechnik GmbH & Co. KG, Method Electronics Inc., Fischer Connectors AG, Teledyne Defense electronics, Travis Pattern & Foundry Inc., J.S.T. Mfg. Co. Ltd., SCHLEICH GmbH, United Universal Industries Inc., Metway Electrical Industries Ltd., Power Dynamics Inc.
The high voltage wiring connectors market report table of contents includes:
1. Executive Summary
2. High Voltage Wiring Connectors Market Characteristics
3. High Voltage Wiring Connectors Market Trends And Strategies
4. High Voltage Wiring Connectors Market – Macro Economic Scenario
5. Global High Voltage Wiring Connectors Market Size and Growth
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31. High Voltage Wiring Connectors Market Other Major And Innovative Companies
32. Global High Voltage Wiring Connectors Market Competitive Benchmarking
33. Global High Voltage Wiring Connectors Market Competitive Dashboard
34. Key Mergers And Acquisitions In The High Voltage Wiring Connectors Market
35. High Voltage Wiring Connectors Market Future Outlook and Potential Analysis
36.Appendix
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