by The press fit connectors market has witnessed significant growth in recent years due to the rising demand for compact and portable electronic devices. Press fit connectors help in providing more surface contact and offer greater grip for establishing reliable connections between printed circuit boards and internal components. They are suitable for high-density board designs and help reduce assembly complexity. Due to their self-locking or friction-locking design, press fit connectors do not require any additional fixation tools and help simplify the manufacturing process.
The global press fit connectors market is estimated to be valued at US$ 8.92 billion in 2024 and is expected to exhibit a CAGR of 4.9% over the forecast period 2024 to 2031
Key Takeaways
Key players operating in the press fit connectors market are Positronic, TE Connectivity Corporation, Amphenol ICC, Dietze Group, Autosplice, Fujitsu Limited, SAMTEC, Inc., Molex, LLC (Koch Industries, Inc.), Aptiv PLC, Diehl Stiftung & Co. KG, Sumitomo Electric Industries, Ltd., AVX Corporation, PROVERTHA Connectors, Cables and Solutions GmbH, Mill-Max Mfg. Corp. These players are focusing on new product launches and contracts to strengthen their market position.
The key opportunities in the Press Fit Connector Market Growth include growing demand for wireless connectivity solutions and medical devices. Furthermore, increasing use of press fit connectors in automotive applications for electric vehicles is expected to drive market growth over the forecast period.
The press fit connectors market is witnessing increased global expansion with growing demand from Asia Pacific and North America regions. The market players are investing in these regions to tap the opportunities through partnerships with local PCB manufacturers.
Market Drivers
The increasing demand for compact electronics and growing adoption of high-density PCBs in various industries such as consumer electronics, telecommunication, automotive are some of the major factors driving the growth of the press fit connectors market. Furthermore, press fit connectors help simplify manufacturing processes and provide reliable connections at low costs which is also fueling their adoption across industry verticals. The rising penetration of IoT devices and advent of 5G networks are further expected to boost the demand for press fit connectors during the forecast period.
PEST Analysis
Political: Press Fit Connectors Market is impacted by regulations around electrical standards and safety. Changes to standards can accelerate product replacement cycles.
Economic: Economic conditions impact spending on manufacturing and industrial equipment that use press fit connectors. During downturns, investment is reduced which softens demand.
Social: As increasingly complex medical devices are developed, press fit connectors enable more compact device designs to meet patient needs. Growing elderly population drives demand.
Technological: Advances in manufacturing allow for smaller, more durable press fit connectors. Improvements in materials enable high-speed data transmission and compatibility with new bus protocols. Multi-port configurations increase connector density on boards.
The geographical region where the press-fit connectors market is concentrated in terms of value is Asia Pacific. Countries like China, Japan and South Korea have a large manufacturing industry for electronics and equipment utilizing press fit connectors. Mass production of devices keeps costs low and the region accounts for over 40% of the global market value.
The fastest growing region for the press-fit connectors market is expected to be Europe over the forecast period. Increased investment in industrial automation across industries like automotive, manufacturing and healthcare is driving connector demand. Growth of electric vehicles is also spurring connector usage for high power applications. The region is anticipated to see nearly 6% CAGR with major markets including Germany, UK and France leading development.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Ravina Pandya
Ravina Pandya, a content writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals. LinkedIn Profile
