BUSINESS: Global Press Fit Connector Market (2021 To 2028) – COVID-19 Impact And Analysis – ResearchAndMarkets.com

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By Daniel Webster, dWeb.News Publisher

DUBLIN–(BUSINESS WIRE)–The “Press Fit Connector Market Forecast to 2028 – COVID-19 Impact and Global Analysis by Type (Compliant Pressing and Cold Press-in) and Application (Automotive, Telecommunications, Military and Aerospace, Medical, and Others)” report has been added to ResearchAndMarkets.com’s offering.

The global press fit connector market is expected to grow from US$ 8,045.0 million in 2021 to US$ 11,069.9 million by 2028; it is estimated to grow at a CAGR of 4.7% during 2021-2028.

Communication is of paramount importance to the aerospace and defense industry. It allows for seamless integration of systems both on the ground and onboard. To ensure connectivity in harsh and critical environments, connectors must meet VITA and VPX standards. The aerospace industry is making great strides in connectivity technology. This includes lightweight aircraft, long-range connecting devices and unmanned aerial vehicles (UAVs). The demand for high-speed data transfer solutions is growing due to digitalization, remote control, as well as other advanced technologies. For compliance with aerospace and defense industry standards, companies that provide press fit connectors are developing new products. Samtec, for example, offers many interconnect products to the military and aerospace industries. The demand for press-fit connectors will increase due to the increasing need for connectors in communication systems.

The market for press-fit connectors can be divided into two segments based on type: cold press-in or compliant press in. In 2020, the compliant press-in segment led the press fit connector market, accounting for a larger share in the market. The market for press fit connectors can be divided by application into automotive, military, aerospace, medical and other. In 2020, the automotive segment accounted for the largest market share. The market can be broadly divided into North America (APAC), Europe, Asia Pacific, (MEA), South America (SAM) and Europe (APAC). In 2020, APAC accounted for a significant share in the global market.

Impact of the COVID-19 Pandemic on the Press Fit Connector Market

The COVID-19 pandemic hampered the economic growth of almost all countries. Lockdowns and business closures have a severe impact on the manufacturing industry. The sales of many industrial products, such as electronics and automotive cars, are declining. The market growth was also affected by the closure of offices, public places, schools and transportation facilities. As the demand for electronic components fell from both the industrial sector as well as end users, the semiconductor industry suffered a major setback. Because no mass production was done during the lockdown, microelectronics revenue has dropped.

After the lockdown, the semiconductor market regained its market share. Production facilities started operating again after social distancing was implemented. Remote monitoring and work from home strategies were also helpful in increasing the sales of advanced electronic products that offer better connectivity. The COVID-19 pandemic created a major impact on the semiconductor industry for the first half of 2020, while in the third quarter, according to The Semiconductor Industry Association (SIA), worldwide sales increased by around 11%. In countries where the pandemic is over, companies in the press-fit connector market can continue to operate at their full capacity. The US, India and several other countries are concerned about the new coronavirus Delta.

Reasons to Buy

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global press-fit connector market.

This report highlights key business priorities to help companies align their business strategies.

These key findings and recommendations highlight important industry trends in order to help companies realign their business strategies.

Develop/modify business growth plans using substantial growth opportunities in developed and emerging markets. Examine global market trends and forecasts.

Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

Market Dynamics

Drivers

Continuous Flourishment of Telecommunications Sector
Growing Use of Electronics and Infotainment Systems in Automotive Sector

Restraints

High Cost of Connectors and Technical Challenges

Opportunities

Growing Requirement of Press Fit Connectors in Aerospace & Defense Sector

Future Trends

Development of Smart Cities

Companies Mentioned

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.

For more information about this report visit https://www.researchandmarkets.com/r/102eur

More dWeb.News Business News at https://dweb.news/category/dweb-news/section-b-business-news/

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