Automotive Connectors Market to Grow with a CAGR of 5.12% in India through to 2029
The major drivers for the India Automotive Connectors Market
include the increasing adoption of electronic components and systems in
vehicles, the growth of the electric vehicle (EV) market, and the rising demand
for advanced safety and infotainment features, all of which require reliable
and efficient connectors for seamless functionality.
According to TechSci Research report, “India Automotive
Connectors Market - Industry Size, Share, Trends, Competition Forecast
& Opportunities, 2029”, the India Automotive Connectors Market stood at
USD 650 Milion in 2023 and is anticipated to grow with a CAGR of 5.12% in the
forecast period, 2024-2029. The India Automotive Connectors Market is
experiencing significant growth due to several key drivers. One of the primary
factors is the increased demand for advanced automotive electronics, as
vehicles continue to incorporate more sophisticated technology for improved
performance and functionality. Additionally, the growth of vehicle production
in India has contributed to the rising demand for automotive connectors, as
more vehicles are being manufactured and equipped with advanced electrical
systems. Another important driver is the rising need for safety and comfort
features in vehicles. With consumers placing a greater emphasis on safety and
convenience, automakers are incorporating more advanced features such as
advanced driver assistance systems, infotainment systems, and connectivity
solutions. These features require a higher number of automotive connectors to
enable seamless integration and communication between various vehicle
components.
Furthermore, the proliferation of electric and hybrid
vehicles in the Indian market is also driving the demand for automotive
connectors. These types of vehicles rely heavily on electrical systems and
components, necessitating a larger number of connectors compared to traditional
internal combustion engine vehicles. As the adoption of electric and hybrid
vehicles continues to grow, the demand for automotive connectors is expected to
increase further.
Lastly, the Indian government's 'Make in India'
initiative has led to increased localized production of automotive components,
including connectors. This initiative aims to promote domestic manufacturing
and reduce dependence on imports, thereby driving the market for automotive
connectors in India. Overall, the India Automotive Connectors Market is
witnessing significant growth driven by the increased demand for advanced
automotive electronics, the growth of vehicle production, the rising need for
safety and comfort features, the proliferation of electric and hybrid vehicles,
and the government's push towards localized production.
Browse over 26 market data Figures spread
through 91 Pages and an in-depth TOC on "India Automotive Connectors Market”
The Indian Automotive Connectors Market is an integral
and thriving part of the rapidly expanding automotive industry in the country.
These connectors play a crucial role in ensuring the seamless functioning of
electrical and electronic systems in vehicles, encompassing critical areas such
as powertrain, infotainment, and safety features. With the continuous expansion
of the automotive sector, the demand for these connectors has been steadily
increasing. Technological advancements further contribute to the growth of the
market, as new and improved connectors are developed to meet the evolving needs
of the industry. Additionally, the rising demand for electric and connected
vehicles has also been a key driver of the market's growth. As the automotive
industry continues to advance, the Indian Automotive Connectors Market remains
a vital component, supporting the development of innovative and efficient
vehicles.
India's automotive industry has been experiencing
remarkable growth, emerging as one of the world's fastest-growing markets. It
encompasses a diverse range of vehicles, including passenger cars,
two-wheelers, and commercial vehicles. With the continuous integration of
advanced technologies into vehicle designs, there is a surging demand for
automotive connectors. These connectors play a crucial role in facilitating
seamless communication and efficient functioning of various components within
vehicles, ensuring optimal performance and safety on the roads. As India's
automotive sector continues to evolve and innovate, the need for reliable and
high-quality automotive connectors becomes increasingly vital in meeting the
industry's dynamic requirements.
Technological advancements play a pivotal role in
driving this market. As vehicles become more sophisticated, automotive
connectors are essential for the integration of advanced systems such as
advanced driver assistance systems (ADAS), infotainment systems, and components
in electric vehicles. Consequently, the demand for high-quality connectors that
can support these technologies has risen.
The promotion of electric vehicles (EVs) by the Indian
government in line with sustainability efforts is also influencing the market.
EVs require specialized connectors for their battery systems and powertrains,
contributing to the growth of the automotive connectors market in India.
Connected vehicles are becoming more common, with
various sensors and communication systems requiring connectors for data
transmission and integration. With the growing use of the Internet of Things
(IoT) in vehicles, connectors play a critical role in establishing seamless
communication and data transmission.
In addition to the various regulatory standards and
norms set by the Indian government, such as the Bharat Stage (BS) emissions
standards, there are several factors that significantly influence the type and
quality of connectors used in vehicles to ensure compliance and safety. These
factors include the need to meet stringent environmental requirements, the
demand for improved fuel efficiency, and the ever-evolving technological
advancements in the automotive industry. Manufacturers and suppliers must navigate
these complexities to develop connectors that not only meet the necessary
standards but also contribute to the overall performance and reliability of
vehicles.
The market landscape is competitive, featuring both
domestic and international connector manufacturers supplying products to the
automotive industry. Key players include Delphi Automotive, Molex, TE
Connectivity, and Amphenol, among others.
Challenges facing the market include the necessity for
high-quality and reliable connectors that meet specific safety and performance
standards. Additionally, counterfeit products pose a threat to the industry,
potentially compromising the safety and functionality of vehicles.
As part of the "Make in India" initiative,
efforts are being made to localize the production of components, including
connectors, aiming to reduce costs and improve supply chain efficiency in the
automotive sector.
It is important to note that market conditions can
change rapidly, and staying informed about the latest developments in the India
Automotive Connectors Market through up-to-date reports, industry publications,
and government announcements is crucial for those considering investments or
business ventures in this sector.
Major companies operating in India Automotive
Connectors Market are:
- TE Connectivity Ltd.
- Delphi Automotive LLP
- Sumitomo Electric Industries, Ltd.
- Yazaki Corporation
- Amphenol Corporation
- Molex, LLC
- Japan Aviation Electronics Industry,
Ltd.
- Hirose Electric Co., Ltd.
Download Free Sample Report
Customers can also request for 10%
free customization on this report.
“The major drivers for the India Automotive Connectors
Market are primarily the increased demand for advanced automotive electronics,
the growth of vehicle production, and the rising need for safety and comfort
features in vehicles. Additionally, the proliferation of electric and hybrid
vehicles in the Indian market is also a prominent factor, with these types of
vehicles necessitating a higher number of automotive connectors relative to
their traditional counterparts. The government's push towards 'Make in India'
initiative also leads to increased localised production, thereby driving the
market.” said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“Automotive Connectors Market – India
Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2029, Segmented Market By Vehicle Type (Passenger Cars and
Commercial Vehicles), By Connection Type (Wire to Wire Connection, Board to Board
Connection and Wire to Board Connection), By System Type (Sealed Connector
System and Unsealed Connector System), By Application Type (Body Control and
Interiors, Fuel and Emission Control, Safety and Security System, Engine
Control & Cooling System), By Country, Competition”, has evaluated
the future growth potential of India Automotive Connectors Market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in India Automotive Connectors Market.
Contact
Mr. Ken Mathews
Techsci Research LLC
420 Lexington Avenue, Suite 300,
New York, United States- 10170
Tel: +13322586602
Email: [email protected]
Website: www.techsciresearch.com