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“High importance of industrial safety propelling the growth of the heavy-duty connector market”
The heavy-duty connector market is expected to grow at a CAGR of 4.6% between 2017 and 2023 to reach USD 3.51 billion by 2023 from USD 2.81 billion in 2018. Nowadays, organizations are dedicated to saving lives and protecting assets by adopting and delivering safety products. With the adoption of heavy-duty connectors, which is now a mandate in industries operating in extreme environmental conditions, companies are protecting their machinery and employees from electrical hazards. These connectors ensure a secure connection and hassle-free operations by eliminating the threat of disconnection due to machine vibrations, thereby saving time and money while optimizing workflow. Heavy-duty connectors are designed to reliably perform under the most demanding operating and harsh environmental conditions. However, the major factor restraining the heavy-duty connector market growth is the lack of the coordination of standards.
“The growth of the heavy-duty connector market expected to be driven by the manufacturing application during the forecast period”
The manufacturing application is expected to hold a significant share of the heavy-duty connector market during the forecast period. With the growing adoption of automation solutions in heavy industries such as automotive, food & beverages, chemicals, and metals, the efficient connectivity to facilitate secure power, signal, and data connections in the harshest environments is essential. Government protocols play a significant role in the growth of the heavy-duty connector market.
“The heavy-duty connector market in APAC expected to grow at the highest CAGR during forecast period”
The market for heavy-duty connectors in APAC is expected to grow at the highest CAGR between 2018 and 2023. Rapid industrialization, high adoption of automation solutions, and competitive pressure to achieve operational efficiency are fueling the growth of the heavy-duty connector market in APAC. Moreover, the most important factor driving market growth has been the revision of the international standards, along with the focus of the government on workplace safety, which has resulted in the increasing awareness and rising adoption of advanced heavy-duty connector solutions.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key officials in the heavy-duty connector market.
Following is the breakup of the primary participants for the report:
- By Company Type: Tier 1 = 50 %, Tier 2 = 30%, and Tier 3 = 20%
- By Designation: C-Level Executives = 60%, Directors = 25%, and Others = 15%
- By Region: North America = 35%, Europe = 30%, APAC = 25%, and RoW = 10%
Moreover, the report profiles the key players in the heavy-duty connector market and analyzes their market ranking. The prominent players profiled in this report are Weidmuller Interface (Germany), Phoenix Contact (Germany), TE Connectivity (Switzerland), Amphenol Sine Systems (US), Molex (US), Harting Technology (Germany), XiamenWain Electrical (China), Wieland Electric (Germany), and ITT (US).
This research report categorizes the heavy-duty connector market on the basis of components, materials, termination methods, applications, and regions. Moreover, the report provides a description of the major drivers, restraints, challenges, and opportunities pertaining to this market as well as the value chain analysis and market ranking analysis.
Reasons To Buy the Report:
The report would help the leaders/new entrants in the heavy-duty connector market in the following ways:
- The report segments the heavy-duty connector market comprehensively and provides the market size estimation for all subsegments across different regions.
- The report helps stakeholders understand the pulse of the market and provides them with the information on key drivers, restraints, challenges, and opportunities for the heavy-duty connector market.
- The report would help stakeholders understand their competitors better and gain insights to improve their position in the heavy-duty connector market.
- The competitive landscape section describes the competitor ecosystem.