The microminiature circular connectorsmarket was valued at US$ 1,809.6 million in 2019 and is projected to reach US$ 2,476.48 million by 2027; it is expected to grow at a CAGR of 4.1% from 2020 to 2027.
The microminiature circular connectorsare designed and developed for interconnect applications that require compact and lightweight components, with high performance. This smaller, lightweight, high density connector far exceeds the expectations in terms of performance and quality levels. These connectors are designed and tested based on the mil-spec standards, similar to MIL-DTL-38999. Currently, APAC leads the global microminiature circular connectors market, followed by Europe and North America. The industrial, military, aerospace, UAVs, and medical companies are increasingly emphasizing on procuring microminiature interconnection products. The APAC microminiature circular connectors market occupies a large market share and is foreseen to be registering steep growth in the microminiature circular connectors market during the forecast period. The industrial sector in the countries in Asia Pacific is constantly rising owing to an increase in demand for various commodities from the customers. The region has become a global manufacturing hub with the presence of diverse manufacturing industries. China, India, South Korea, Japan, Australia, and Rest of APAC are considered as the key countries in the microminiature circular connectorsmarket.
Impact of COVID-19 Pandemic on the Microminiature Circular Connectors Market
The recent COVID-19 pandemic has caused huge disruptions in Asia Pacific countries, and the consequence and impact of this outbreak are likely to worsenin the coming months on account of the spread of the virus. The governments of Asia Pacific countries are taking possible steps to control the viral transmission through the enforcement of nation-wide lockdowns. The Airports Council International (ACI) AsiaPacific warned that the prolonged duration of the COVID-19 outbreak would drastically impact the region’s airport connectivity and economic sustainability, significantly restricting them from achieving previously projected growth prospects. This series of events is anticipated to negatively impact microminiature circular connector market growth in the coming years.
Lucrative Regions Microminiature Circular Connectors Market
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Market Insights
Growth in Medical Devices Industry
Hospitals, diagnostic laboratories and imaging centers, ambulatory surgical centers, and clinics are among the major stakeholders in the medical devices industry. Medical microminiature circular connectors are used in a variety of applications, such as diagnostic imaging, patient monitoring, cardiology, electrosurgical, and dental devices. Every year, globally, the prevalence of various chronic diseases such as cancer, arthritis, kidney disease, and cardiovascular disease is increasing, driving demand for circular microminiature connectors. Furthermore, growing investments in R&D activities are also expected to fuel business growth. According to the FDA, medical device manufacturing companies in the US are projected to raise their R&D budget by ~3% in 2016. Similarly, according to Medtech Europe, the European countries spent ~10% of GDP,on an average, on healthcare, 7.3% of which is spent on medical devices. This shows the technology adoption in the healthcare industry, which is likely to propel demand for microminiature circular connectors during the forecast period. Thus, the growth of medical device industry is one of the major factor driving the microminiature circular connectors market.
Type-BasedInsights
Microminiature circular connectors are multi-pin connectors mainly used for external interfacing. These are used for electrical signal transmission and data transmission, as well as in electrical devices.Based on type, the report segments the microminiature circular connectors market into metal shell and plastic shell. During the forecast period, the metal shell segment is projected to be a larger shareholder in the market. Metal shell microminiature connectors include is a complete line of small circular connectors that are ideal for rugged military and commercial applications. The micro circular metal-shell connectors are versatile, tested for harsh environments, and offer multiple coupling styles, contacts, and mounting options.
Microminiature Circular ConnectorsMarket, by Type– 2019and 2027
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Application-Based Insights
The microminiature circular connectors market, based on application, is segmented into military and defense, aerospace and UAV, industrial applications, medical, and others.The others segment includes transportation, IT and telecom, marine, automotive, electrical and electronics, and energy & power. The industrial application segment is expected to dominate the market during 2020–2027. Lightweight, robustness, high density, and high shock resistance are critical factors in the industrial application while selecting connector solutions. Also, circular microminiature connectors designed for industrial automation and control are built very robustly.
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Microminiature Circular Connectors Market: Strategic Insights
Market Size Value in US$ 1,809.6 Million in 2019 Market Size Value by US$ 2,476.48 Million by 2027 Growth rate CAGR of 4.1% from 2020 to 2027 Forecast Period 2020-2027 Base Year 2020
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Microminiature Circular Connectors Market: Strategic Insights
| Market Size Value in | US$ 1,809.6 Million in 2019 |
| Market Size Value by | US$ 2,476.48 Million by 2027 |
| Growth rate | CAGR of 4.1% from 2020 to 2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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The microminiature circular connectors market players focus on new product innovations and developments to achieve sustainable growth and distinguish themselves from their competitors in the highly competitive microminiature circular connectors market.
- In 2020, Franz Binder GmbH & Co. Elektrische Bauelemente KG launched IP67 rated 4- and 6- way snap-in circular connector distributors. Each version is offered with 3 or 5 gold plated contacts, and the product is available in a cabled version or pluggable module. The distributors allow the expansion of the 720 series connectors and are appropriate for usage in electrical equipment and factory control systems requiring IP67 protection.
- In 2018, HUBER+SUHNER developed the PSM connector series for weight-sensitive aerospace applications. This series enables the customer to maximize power performance while minimizing overall system size, weight, and expenditure as well as obtaining a cost-effective solution.
Market Segmentation
Microminiature Circular Connectors Market – By Type
- Metal Shell
- Plastic Shell
Microminiature Circular Connectors Market – By Application
- Military and Defense
- Aerospace and UAV
- Industrial Application
- Medical
- Others
Microminiature Circular Connectors Market- CompanyProfiles
- Amphenol Corporation
- Franz Binder GmbH& Co. Electrical Components KG
- Glenair, Inc.
- Hirose Electric Co., Ltd.
- HUBER+SUHNER
- ITT Inc.
- Omnetics Connector Corporation
- SOURIAU SAS
- TE Connectivity
- Ulti-Mate Connector, Inc.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type ; Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The APAC region led the microminiature circular connector market in 2019 owing to the increasing demand for these connectors from computers, communications, and consumer electronics applications in the aerospace sector, and growing demand for advanced features and connectivity products. Additionally, the region is experiencing massive growth in the aviation sector owing to increasing air passenger traffic, concern over flight safety, and reducing maintenance costs; this has led to the demand for microminiature circular connectors.
In the medical devices industry, hospitals, diagnostic laboratories & imaging centers, ambulatory surgical centers & clinics are significant end-users. Medical microminiature circular connectors have a variety of applications, such as diagnostic imaging, patient monitoring, cardiology, electrosurgical, dental devices, and others. Every year, globally, the prevalence of various chronic diseases such as cancer, arthritis, kidney disease, and cardiovascular disease is increasing, driving demand for circular microminiature connectors.
The. Industrial application led the microminiature circular connector market. Lightweight, robustness, high density, and high shock resistance are critical factors in industrial use when considering connector solutions. Also, circular microminiature connectors designed for industrial automation and control are very robustly built connectors. They usually have more screws attached to any surface on which they are mounted, and are designed to keep out of contaminants.
The List of companies - Microminiature Circular Connectors Market
- Amphenol Corporation
- Franz Binder GmbH & Co. Electrical Components KG
- Glenair, Inc.
- Hirose Electric Co., Ltd.
- HUBER+SUHNER
- ITT Inc.
- Omnetics Connector Corporation
- SOURIAU SAS
- TE Connectivity
- Ulti-Mate Connector, Inc.
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- Data Analysis:
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