North America Automotive Electrical Connector Market is expected to reach US$ 328.56 Million and Growing at a CAGR of 7.4% during forecast period 2022-2028 - Digital Journal

2022-05-22 00:14:14 By : Ms. Mary Huang

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According to a new market research study of “North America Automotive Electrical Connector Market Forecast to 2028 – COVID-19 Impact and Regional Analysis by Type, Vehicle Type, By Powertrain Type and Country.” The North America automotive electrical connector market is expected to reach US$ 328.56 million by 2028 from US$ 199.48 million in 2021; it is estimated to grow at a CAGR of 7.4% from 2021 to 2028. The report highlights trends prevailing in the North America automotive electrical connector market and the factors driving market along with those that act as hindrances.

The automotive industry is growing with the advancements in electronics and electrical systems of vehicles. The advent of connected cars, electric cars, and hybrid cars is accelerating the automotive industry’s growth due to enhanced features in these vehicles. Automobile companies are offering maximum features for the customers to enhance their driving experience. The numerous developments in vehicles have increased vehicles’ electrical systems’ count as more connected technologies are integrated into vehicles. There is an increase in the importance of automotive electrical connectors as they form an efficient connection for power transmission. Electrical connectors such as busbars and fuse boxes play a vital role in the automotive industry.

Get a Sample Report “North America Automotive Electrical Connector Market” to 2028 @:  https://www.businessmarketinsights.com/sample/TIPRE00027238

Companies Profiled in this report includes: INTERCABLE srl, Connor Manufacturing, Amphenol Corporation, Emerson Electric Co., Rogers Corporation, Molex, LLC, TB&C, Difvan, TE Connectivity Ltd. and Flex-Cable Inc.

To distribute power effectively, specifically in electric vehicles, the demand for high voltage busbars is rising, which is driving the market. For instance, in March 2020, Royal Power Solutions, a supplier of automotive components, introduced a new connector and conductor product for electric vehicles and hybrid vehicles. The company introduced a new High-Power Lock Box (HPLB) connector and RigiFlex busbar with integrated HPLB terminals. Similarly, in March 2021, Furukawa Electric Co., Ltd started to deliver high-voltage power distribution component modules, such as busbars, for Toyota MIRAI and other hydrogen fuel cell vehicles. The increasing electrification in vehicles creates a need for advanced connectors such as high voltage busbars and fuse boxes, which is driving the market.

The US is the most affected country in North America due to the COVID-19 outbreak. The growing number of infections has led the government to impose various containment measures such as factory shutdowns, travel restrictions, closure of international borders, and lockdowns. The massive increase in the number of confirmed cases and rise in reported deaths in the country has affected both manufacturing and sales of materials associated with automotive electrical connectors.

Major Key Points of North America Automotive Electrical Connector Market

North America Automotive Electrical Connector Market Overview

North America Automotive Electrical Connector Market Competition

North America Automotive Electrical Connector Market, Revenue and Price Trend

North America Automotive Electrical Connector Market Analysis by Application

Company Profiles and Key Figures in North America Automotive Electrical Connector Market

Leading market players and manufacturers are studied to help give a brief idea about them in the report. The challenges faced by them and the reasons they are on that position is explained to help make a well informed decision. Competitive landscape North America Automotive Electrical Connector market is given presenting detailed insights into the company profiles, developments, merges, acquisitions, economic status and best SWOT analysis.

NOTE: Our team is studying Covid-19 and its impact on various industry verticals and wherever required we will be considering Covid-19 analysis of markets and industries. Cordially get in touch for more details.

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Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Defense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications.

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