PUBLISHER: The Business Research Company | PRODUCT CODE: 1427851
PUBLISHER: The Business Research Company | PRODUCT CODE: 1427851
High-voltage wiring connectors are specialized electrical connectors designed for the secure and safe connection of high-voltage wires or cables, specifically engineered to handle elevated voltage levels.
The primary products within the category of high-voltage wiring connectors include crimp-on connectors, plug and socket connectors, component and device connectors, blade connectors, and other variations. Crimp-on connectors represent a type of electrical connector that is affixed to a wire through crimping or compressing it onto the conductor. These connectors find applications in diverse sectors such as electric vehicles, renewable energy systems, aerospace, industrial equipment, and telecommunications. They serve various industries, including automotive, energy, aerospace and defense, consumer electronics, healthcare, among others.
The high-voltage wiring connectors research report is one of a series of new reports from The Business Research Company that provides high-voltage wiring connectors market statistics, including the high-voltage wiring connectors industry's global market size, regional shares, competitors with high-voltage wiring connectors market share, detailed high-voltage wiring connectors market segments, market trends and opportunities, and any further data you may need to thrive in the high-voltage wiring connectors industry. This high-voltage wiring connectors market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The high voltage wiring connectors market size has grown strongly in recent years. It will grow from $3.61 billion in 2023 to $3.88 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The historical growth in the high-voltage wiring connectors market can be attributed to factors such as industrialization, expansion in the energy sector, growth of the manufacturing industry, increasing urbanization, and a rising demand for electricity.
The high voltage wiring connectors market size is expected to see strong growth in the next few years. It will grow to $4.96 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The forecasted growth in the high-voltage wiring connectors market can be attributed to factors such as the integration of renewable energy sources, electrification of transportation systems, the development of high-voltage direct current (HVDC) transmission, increased demand for electric vehicles, and the upgrading of aging power infrastructure. Major trends anticipated in the forecast period include the adoption of superconducting materials in high-voltage wiring, the growth of offshore wind power transmission, the integration of digital technologies in high-voltage systems, the development of lightweight and high-performance materials for wiring, and the implementation of smart sensing and monitoring in power transmission.
The anticipated growth in the high-voltage wiring connectors market is expected to be propelled by the increasing demand for electric vehicles. Electric vehicles (EVs) are powered by electric motors using stored electricity, and efficient power transmission and charging infrastructure, supported by high-voltage wiring connectors, are crucial for their reliable operation. For example, in September 2022, the International Energy Agency reported that electric vehicle sales nearly doubled to 6.6 million in 2021, reaching a total of 16.5 million electric vehicles on the road. Consequently, the growing demand for electric vehicles is a significant driver for the high-voltage wiring connectors market.
The growth of infrastructure development is anticipated to drive the high-voltage wiring connectors market. Infrastructure development involves constructing and enhancing essential services and facilities to foster economic growth and improve overall quality of life. High-voltage wiring connectors play a vital role in various industries, such as aircraft, telecommunications, energy, and transportation, enabling secure and effective transmission of electricity in high-voltage applications. For instance, in May 2023, the Office for National Statistics reported that the overall value of newly constructed infrastructure in 2021 was £29.9 billion ($40.415 billion), representing a 32.8% increase from 2020. Notably, the road and railway sectors contributed significantly to this growth, with a combined share of 61.1% and substantial increases of 93.4% and 88.7% in 2021, respectively. Thus, the escalating infrastructure development is a key factor driving the high-voltage wiring connectors market.
Product innovation stands out as a prominent trend gaining traction in the high-voltage wiring connectors market. Leading companies within the market are actively engaging in the development of cutting-edge products to fortify their market position. A noteworthy example is TE Connectivity, a Switzerland-based consumer electronics company, which introduced the IPT-HD power bolt high-voltage connector in June 2021. Specifically designed for electric vehicles (EVs) operating in challenging environments, this connector adheres to ISO and LV standards, ensuring compatibility and reliability. Notably, its innovative shielding design bolsters electromagnetic compatibility (EMC) performance. The connector boasts low-contact resistance, accommodates thicker conductor cross-sections, making it apt for motor control units (MCUs), electrical axles, and motor applications in EVs. With conductor cross-section options of 50 mm2 and 70 mm2 available and a 95 mm2 variant in the pipeline, TE Connectivity's IPT-HD power bolt connector series provides superior EMC performance, enhanced assembly efficiency, and broader application possibilities in the dynamic realm of alternative-energy vehicles.
Major players in the high-voltage wiring connectors market are strategically investing in digital and smart grid technologies for power distribution to bolster their revenues. Smart grid technologies involve the incorporation of advanced digital communication and information technologies into traditional electrical grid infrastructure. A case in point is ABB Ltd., a Sweden-based corporation, which launched the Protecta Power panel board in November 2023. This innovative panel board integrates state-of-the-art digital monitoring and control technology, catering to intelligent electrical distribution in commercial, institutional, and infrastructure settings. Complying with BS EN 61439 safety standards for Form 4, types 2 and 6, the Protecta Power panel board provides incoming and outgoing current ratings of 800A and 630A, respectively, ensuring reliable power distribution.
In April 2021, Amphenol Corporation, a US-based electronic connector manufacturing company, successfully acquired MTS Systems for an undisclosed amount. This strategic acquisition has empowered Amphenol to expand its product portfolio, reinforce its position in the electronics market, and capitalize on long-term growth opportunities within the sensor technology sector. MTS Systems, a US-based manufacturer of wiring connectors, plays a vital role in diverse industries, including automotive, aerospace, biomedical, energy, and civil engineering.
Major companies operating in the high voltage wiring connectors market report are Sumitomo Electric Industries Ltd., ABB Ltd., Eaton Corporation, TE Connectivity Ltd., BorgWarner Inc., Yazaki Corporation, Amphenol Corporation, Molex LLC, Nexans S.A., Phoenix Contact GmbH & Co. KG, Hubbell Incorporated, ITT Inc., Hirose Electric Co. Ltd., Staubli International AG. , HARTING Technology Group, Huber+Suhner AG, Samtec Inc., Smiths Interconnect Inc., Lemo SA, Glenair Inc., Rosenberger Hochfrequenztechnik GmbH & Co. KG, Methode Electronics Inc., Fischer Connectors AG, Teledyne Defense electronics, Travis Pattern & Foundry Inc., J.S.T. Mfg. Co. Ltd., SCHLEICH GmbH, United Universal Industries Inc., Metway Electrical Industries Ltd., Power Dynamics Inc.
Asia-Pacific was the largest region in the high-voltage wiring connectors market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the high voltage wiring connectors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the high voltage wiring connectors market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The high-voltage wiring connectors market consists of sales of high-voltage connectors, cable assemblies, terminal blocks, insulators, adapters, and converters. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
High Voltage Wiring Connectors Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on high voltage wiring connectors market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for high voltage wiring connectors ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The high voltage wiring connectors market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.