Circular Connectors Market

Global Circular Connectors Market Size (2024 to 2029)

The global circular connectors market size was valued at USD 70.3 Billion in 2024 and is expected to reach USD 91.01 Billion by 2029. The market value is to grow at a CAGR of 5.3% during the forecast period 2024 to 2029.

The circular connector provides an optimum signal connection with the help of multi-pin interface connectors. These connectors provide secure connections to various fields, such as medical and industrial applications. The electric or transmission signals withstand harsh conditions as the connectors are made of high-quality materials. The demand for circular connectors is growing in automotive, consumer electronics, and others. The circular connectors are fixed with additional screws that keep impurities out to secure the surface. The design easily connects and disconnects signals, power, and optical circuits. The circular connectors are designed to fulfill essential applications in the medical and automotive industries. As the world is shifting from analog to digital, the connectors are to provide secure communication.

Global Circular Connectors Market Drivers:

Increasing demand for high-speed internet in various fields is a major factor propelling the demand of the circular connectors market. The rise in the number of automotive, medical, and consumer electronic industries is likely to drive the market's growth rate. Increasing utilization of data connectors for the safe transmission of data promotes the circular connectors market growth. The growing prevalence of digital technology everywhere is additionally leveraging the significance of the circular connectors market. The rising urban population, along with the increasing demand for consumer electronic devices, is anticipated to increase the market's growth rate to an extent. The launch of 5G services worldwide is also a factor surging the growth rate of the circular connectors market. Giving quality performance during the harsh environment is an additional factor for the market to grow in the coming years. Prevalence for advanced technology is likely to boost the demand in the circular connectors market.

The rising need for better and secure connectivity in automotive industries is to set growth opportunities for the circular connectors market. Furthermore, circular connectors are also broadly utilized in telecommunication industries to provide secure data transmissions, which is expected to boost the market's growth rate in the coming years.

Global Circular Connectors Market Restraints:

However, the rising demand for the minimum space installation of panels with extreme performance is degrading the demand of the circular connectors market. The connectors are installed in array form, which requires a large space to have free accessibility to twist and lock. The loss of panel space is a major challenge for the market players. The high installation price is also impeding the growth rate of the market. The availability of low-quality products at minimum prices solely limits the market's demand to an extent. The complex structure of the panels and difficulty in finding the errors are declining the growth rate of the circular connectors market.

Impact of COVID-19 on the Global Circular Connectors Market:

The COVID-19 pandemic showed a negative impact on the growth rate of the circular connectors market. The sudden lockdown worldwide declined the infrastructure and other projects that slowed the growth rate of the circular connectors market. The pandemic disrupted the electronics and semiconductor sector, where manufacturing units were closed completely. The lockdown restrictions imposed various challenges for the players to reach customers. However, the demand for the market started to grow immensely with growing prevalence from the automotive and telecom industries. Asia Pacific and European regions have seen a major loss of business due to the spread of COVID-19. Due to the COVID-19 pandemic, all industries were heavily impacted as governments imposed strict lockdowns to curb the spread of  COVID-19. However, the growing demand from the telecom and automotive industries led to a rapid increase in the demand for circular connectors. 

REPORT COVERAGE:

This research report on the global circular connectors market has been segmented and sub-segmented based on type, application, and region.

Global Circular Connectors Market - By Type:

• Hybrid Connectors Signal Connectors
• Data Connectors
• Power Connectors

The hybrid connectors segment is ruling with the prominent shares of the circular connectors market owing to rising awareness of the significant benefits of circular connectors in the medical field. The signal connectors segment is next in leading the dominant shares of the market. Finally, the data connectors segment will likely hit the highest CAGR in the coming years.

Global Circular Connectors Market - By Application:

• Military
• Transportation
• Industrial
• Residential
• medical

The industrial segment is gaining traction over the circular connectors market shares. The rising popularity of maintaining secure data transmission in industries is a major factor driving the demand of the industrial segment. The medical segment is expected to reach the highest CAGR by the end of 2027. The increasing Internet of things and the rise in the number of consumer electronic goods are fueling the market's demand.

Global Circular Connectors Market - By Region:

• North America
• Europe
• Asia-Pacific
• Middle East & Africa
• Latin America

North American circular connectors market has the dominant shares, whereas European circular connectors market shares are expected to rise eventually in the coming years. The presence of key players and the launch of innovative products are two major attributes for the market to grow in North America. Prevalence for advanced technologies is enhancing the growth rate of the market. Increasing demand for high-speed connectors is surging the demand for the installation of circular connectors in various industries. The rise in the number of data centers and the growing need for secure data transmission to provide quality output are lavishing the market's growth rate in North America. In addition, key players are investing more in defense & submarine cables, fueling the market's demand.

Europe's circular connectors market is expected to hit the highest CAGR in the coming years. The growing prevalence of the usage of circular connectors in the medical field is elevating the market's growth rate in Europe. The growth rate of the market is rising even more in emerging countries like Germany, the UK, Italy, Spain, and France.

Asia Pacific circular connectors market is esteemed to have prominent shares following North America. The increasing population is ascribed to bolstering the demand of the market in this region. India and Japan are major countries with the highest shares of the Circular connectors market. Increasing investments by key players and preference for technological developments are to surge the demand of the market in India. Also, growing disposable income is to outrage the shares of the market in Asia Pacific.

Middle East & Africa circular connectors market, is to grow at a slow pace during the forecast period 2022-2027. The rising prevalence of offering excellent telephony communication is to gear up the demand of the market in this region.

Latin America's circular connectors market is likely to have a significant growth rate in the future period.

KEY MARKET PLAYERS:

Major Key Players in the Global Circular Connectors Market are Amphenol, Molex, Sumitomo Wiring System, Delphi, Jonathon, IT, Belden, Source, TE Connectivity, Molex, LLC, Franz Binder GmbH & Co, PHOENIX CONTACT, ITT Inc, Japan Aviation Electronics Industry, Ltd,  Shenzhen Deren Electronics co., LTD, and others

RECENT HAPPENINGS IN THE MARKET:

• In January 2021, a leading provider of automation networking infrastructure solutions, OTN Systems N.V., was purchased by Belden Inc. for around $71 million. This strategy is to meet the growing demand for industrial automation. These companies adopted proprietary technology and mission-critical hardware solutions that are expected to level up the company’s portfolio in the marketplace.
• In 2021, Amphenol Corporation acquired MTS System Corporation for $1.7 billion approximately. Amphenol Corporation is a leading company providing interconnect, antenna, and sensor solutions. The acquisition is to bring new product launches in the coming years.