Press Fit Connector Market Size, Trends and Growth Analysis by 2027

The global market for press fit connectors is projected to expand from US$ 8,045.0 million in 2021 to US$ 11,069.9 million by 2028, reflecting a compound annual growth rate (CAGR) of 4.7% during the period from 2021 to 2028.

In the aerospace and defense sectors, effective communication is crucial for the seamless integration of systems both in-flight and on the ground. Connectors are engineered to comply with standards such as VITA and VPX protocols, ensuring reliable connectivity even in challenging conditions. The aerospace industry is witnessing significant advancements, including the development of lightweight aircraft, long-range connectivity devices, and unmanned aerial vehicles (UAVs), all of which are driving the demand for sophisticated connector systems. The rise of digitalization, remote control technologies, and other innovations is increasing the need for high-speed data transfer solutions. Manufacturers of press fit connectors are actively innovating to ensure their products meet the stringent requirements of the aerospace and defense sectors. For example, Samtec provides a diverse array of interconnect products tailored for military and aerospace applications. Consequently, as the demand for communication systems grows, so too will the need for press fit connectors.

The press fit connector market is categorized by type into compliant press-in and cold press-in connectors. In 2020, the compliant press-in segment dominated the market, holding a significant share. Additionally, the market can be segmented by application into various sectors, including automotive, telecommunications, military and aerospace, medical, and others. The automotive sector was the largest contributor to market share in 2020. Geographically, the market is divided into regions such as North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM). In 2020, the APAC region accounted for a substantial portion of the global market.

Impact of the COVID-19 Pandemic on the Press Fit Connector Market

The COVID-19 pandemic has adversely affected the economic growth of numerous countries, with the manufacturing sector experiencing significant disruptions due to business closures and lockdowns. This led to a decline in sales across various industrial products, including automotive vehicles and electronics. The closure of offices, public spaces, schools, and transportation systems further hindered market growth. The semiconductor industry faced a notable downturn as demand for electronic components from both industrial sectors and end-users diminished. The revenue model for microelectronics suffered as mass production was halted during lockdowns. However, following the lifting of restrictions, the semiconductor industry began to recover as production facilities resumed operations while adhering to social distancing protocols. Additionally, the shift to remote work and monitoring strategies contributed to an increase in sales of advanced electronic products aimed at enhancing connectivity. The initial half of 2020 saw a significant impact on the semiconductor sector, but by the third quarter, the Semiconductor Industry Association (SIA) reported a global sales increase of approximately 11%. Companies within the press fit connector market are now operating at full capacity in regions where the pandemic has been brought under control, although the emergence of the Delta variant remains a concern in countries like the US and India.

The overall size of the press fit connector market has been determined through a combination of primary and secondary research methods. The research process began with extensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data relevant to the market. This approach also aimed to provide a comprehensive overview and forecast of the press fit connector market across all segments. Furthermore, primary interviews were conducted with industry participants and experts to validate the data and gain deeper analytical insights. Participants included industry professionals such as VPs, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the press fit connector market.

Key players in the press fit connector market include Positronic, TE Connectivity Corporation, Amphenol ICC, Dietze Group, Autosplice, Fujitsu Limited, SAMTEC, Inc., Molex, LLC (part of Koch Industries, Inc.), Aptiv PLC, Diehl Stiftung & Co. KG, Sumitomo Electric Industries, Ltd., AVX Corporation, PROVERTHA Connectors, Cables and Solutions GmbH, and Mill-Max Mfg. Corp.