June 22, 2024
Press Fit Connectors Market

Press Fit Connectors Market poised to witness steady growth trends by increasing automation

The press fit connectors market has witnessed significant growth in recent years owing to the increasing implementation of automation across various industries. Press fit connectors or zero insertion force connectors provide a quick and secure connection between PCBs without requiring any additional tools. These connectors find wide usage in automotive, industrial automation, data centers, communication equipment and other industries where quick assembly and disassembly is required. Press fit connectors offer robust design, maintain signal integrity even at high speeds and provide reliable connections in harsh environments. The market has seen increased demand for high-density and low-profile press fit connectors that can accommodate more connections within limited PCB area.

The Global Press Fit Connectors Market is estimated to be valued at US$ 12.50 Bn 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 Demand 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.

The global press fit connectors market is driven by the increasing demand for automation across industries. Press fit connectors help enable quick automation of applications with their zero insertion force design, high reliability and low maintenance over traditional wire and screw terminals.

The press fit connectors market is expanding globally with growing industrialization and automation adoption in emerging economies of Asia Pacific, Middle East, Africa and South America. Key players are focusing on these regions for tapping new opportunities through development of application-specific press fit connector portfolios.

Market Key Trends

One of the key trends seen in the press fit connectors market is the growing demand for high-speed and high-density press fit connectors suitable for signal transmission in automated systems, data networking equipment and high-end computing applications. Press fit connector manufacturers are developing innovative designs to accommodate more connections within limited PCB area while maintaining signal integrity at high transmission speeds. Another major trend is the use of automation-friendly press fit connectors integrated with sensing and computing capabilities for emerging applications like AI, IoT, autonomous vehicles among others.

Porter’s Analysis

– Threat of new entrants: Entry into this market is difficult due to high manufacturing costs for tools and equipment along with the capital required for R&D activities.

– Bargaining power of buyers: Customers have high bargaining power as there are many suppliers offering similar products and technology.

– Bargaining power of suppliers: Suppliers enjoy lower bargaining power since raw material for this market is standardized and available from multiple vendors.

– Threat of new substitutes: Threat of substitutes is low since press-fit connectors have advantages over alternatives like soldered connectors.

– Competitive rivalry: Competition is intense as players compete on quality, reliability, pricing and design innovation.

The North American region is currently holding the largest share in the press-fit connector market in terms of value. This is attributed to vast usage of these connectors across diverse industries including automotive, computing, and consumer electronics. The Asia Pacific region is expected to witness the fastest growth during the forecast period owing to rapid industrialization in countries like China and India.

Furthermore, countries like Japan, South Korea are leading manufacturers and exporters of press-fit connectors globally. In Europe, Germany accounts for a significant market share due to presence of leading connector manufacturers. On the other hand, the Middle East & Africa region is projected to provide attractive business opportunities for market players over the coming years.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it