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Heavy-Duty Connector Market Worth 3.51 Billion USD by 2023
[April 12, 2018]

Heavy-Duty Connector Market Worth 3.51 Billion USD by 2023


PUNE, India, April 12, 2018 /PRNewswire/ --

According to the new market research report "Heavy-Duty Connector Market by Component (Hood and Housing, Insert and Contact), Material (Metal and Plastic), Termination Method (Crimp and Screw), Application (Manufacturing, Construction, Railway, Oil & Gas, Construction), and Geography - Global Forecast to 2023", published by MarketsandMarkets™, the market is expected to grow from USD 2.81 Billion in 2018 and reach a value of USD 3.51 Billion by 2023, at a CAGR of 4.6% during the forecast period.

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Browse 62 market data Tables and 51 Figures spread through 154 Pages and in-depth TOC on "Heavy-Duty Connector Market - Global Forecast to 2023"
https://www.marketsandmarkets.com/Market-Reports/heavy-duty-connector-market-91922880.html

Early buyers will receive 10% customization on this report

The growth of this market can be attributed  to the rise in the adoption of industrial automation solutions. In the recent past, industrial automation has become the most important part of the modern  industrial sector. The adoption of industrial automation equipment such as  industrial robots, field devices, and smart equipment has increased  significantly among manufacturers from industries such as food & beverages, oil & gas,  metals & mining, and automotive. The  increase in the adoption of industrial automation equipment in the manufacturing sector further  encourages the need for heavy-duty  connectors for enhanced signal and power transmission and for high resistance  in harsh environments.

Inserts and contacts held the largest share of the heavy-duty connector market in 2017 

The heavy-duty connector market based on components is led by the "insert and contact" segment in terms of size. Inserts and contacts are the core components of the heavy-duty connector. They facilitate the transmission of power and signals. In a few cases, inserts and contacts can also be used directly on the machines to create an electric connection without the use of any external enclosure, such as a hood and housing. Moreover, due to the wide adoption of nserts and contacts in applications, such as manufacturing, railways, and oil & gas, the market for these components is expected to grow at the highest growth rate during the forecast period.



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The market for plastic heavy-duty connectors likely to grow at a higher CAGR during the forecast period 


Based on materials, the market for plastic heavy-duty connectors is expected to witness the highest growth rate during the forecast period. At one time, aluminum metal was the primary material option for heavy-duty connectors; however, today, plastic is considered as a reliable and viable option. This is because plastic can be used to create solutions that are lighter, more resilient, and more environmentally friendly. In addition, in many industries, the use of plastic offers advantages, including corrosion-resistance, over metal.

APAC expected to hold the largest size of the heavy-duty connector market during the forecast period 

APAC held the largest size of the heavy-duty connector market in 2017, followed by Europe and North America. 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. China and Japan have a strong hold on the manufacturing industry and witness a high demand for automation and industrial robotics; moreover, these countries also comprise top manufactures of construction equipment and electric locomotive manufactures. Furthermore, in India, proactive initiatives taken by the Indian government promoting the use of heavy-duty connectors in manufacturing, railway, oil & gas, and energy applications are encouraging the growth of the heavy-duty connector market.

Weidmuller Interface (Germany), Phoenix Contact (Germany), TE Connectivity (Switzerland), Amphenol Sine Systems (US), Molex (US), Harting Technology(Germany), XiamenWain Electrical (China), Wieland Electric (Germany), ITT (US), ODU (Germany), and Lapp (Germany) are the major players operating in this market.

Know more about the Heavy-Duty Connector Market: 

https://www.marketsandmarkets.com/Market-Reports/heavy-duty-connector-market-91922880.html

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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SOURCE MarketsandMarkets


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