- How did the pandemic affect the industrial connector market? What are anticipated to be the biggest drivers of productivity and growth in the industrial market over the next five-years? What growth rates can we expect from the industrial market from 2021 through 2026?
- Which segments of the industrial connector market will show the greatest growth and why?
- What are the important megatrends that affected the industrial market even before the pandemic? Will these trends continue to affect the industrial market and in what ways?
- What communication protocols are most prominent in the industrial market sector? By application, which protocols are anticipated to show the greatest growth and why?
- Which connector type is anticipated to show the most growth during the five-year period 2021 through 2026? Which regions will show highest growth rates?
Bishop & Associates latest research report, “World Industrial Market for Connectors 2021” explores the technology and products that are driving the growth of the industrial connector market. This report examines the trends affecting the industrial market and how these will change the industrial market and connectors used in this market and its segments. Forecasts by industrial segment, product type and region are provided, along with five-year compound average growth rate projections.
This new report provides a detailed analysis of the world industrial market for connectors. This report focuses on three key segments:
Factory Automation and Machinery, covering:
- Smart Factories (Industry 4.0 & 5.0)
- Automation & Networking
- Industrial Robotics
Construction and Civil Engineering, covering:
- Smart Cities
- Smart Buildings
- Construction Equipment
Energy Markets, covering:
“World Industrial Market for Connectors”
- Smart Grid & Digitization
- Renewable Energy
- Energy Storage
provides a detailed analysis of these above three segments, including equipment and connector products found within each of the segments. Connectors sales numbers are provided for each of these key segments, by region, and product type for the years 2019, 2020, 2021F, and 2026F.
The industrial market for connectors proved to be very resilient during the COVID-19 pandemic. As this report is published the pandemic is still very much a part of our lives and we do not know yet exactly what the long-term effects will be. When we assess the full year 2020 compared to 2019, it turns out the global connector market, after a sharp decline early in the year, made a remarkable recovery the second half of 2020. So much so, that the industrial market for connectors only declined by 2.3% versus 2019. The global connector market did slightly better, resulting in a 2.2% contraction versus 2019.
While assessing the performance of the industrial market for connectors it is important to consider some important megatrends that were visible even before the pandemic hit. These trends affected the manufacturing and energy sectors and include:
- Digital Transformation of the manufacturing industry, implementation of IoT and Industry 4.0/5.0.
- Focus on Energy Consumption, Storage, and a shift to cleaner, reusable, energy sources.
- Re-shoring of manufacturing and/or restructuring supply chains to get closer to the customer and make supply chains more robust.
If the pandemic did anything to the manufacturing industry apart from disrupting it in the immediate short term, it is probably the accelerating of the above-mentioned megatrends. This means that developments that support these megatrends may subsequently also accelerate and drive the market:
- Extensive use of Robotics / Industrial Robots and more recently Co-Bots
- Machine-to-Machine communication (M2M) and Machine Learning
- Implementation of Cyber Physical Systems (CPS)
- Inclusion of Additive Manufacturing in production processes
- Inclusion of Augmented Reality (AR) in manufacturing and assembly
- Continuing increase of the share of renewable energy sources (wind, solar, hydro, H2, etc.)
- Growing market for (innovative) energy storage solutions
- Innovations to reduce energy consumption and curb CO2/methane emissions
- Further roll-out of smart grids and 'self-sustaining' microgrids
- Development of Smart City concepts and strategies around the globe
- Guidelines for Smart Buildings in which automation, energy consumption/generation and general well-being (social distancing options for example!) are central
- Development of concepts and strategies for smart mobility, smart water supplies and smart waste treatment