In recent years, benefiting from the continuous development of downstream industries such as computers, consumer electronics, new energy, industrial control and medical care, the global demand for connectors has maintained a stable growth trend, and the overall market size of global connectors has generally shown an upward trend. According to survey data, except for a few years when the global connector market size decreased due to factors such as the global macroeconomy, the market size has generally shown an upward trend in recent years. The global connector market size has grown from 51.2 billion US dollars in 2013 to 81.9 billion US dollars in 2023, with an average annual compound growth rate of approximately 4.72%. The global connector market size is expected to reach about 85 billion US dollars in 2024.
Global connector market size from 2013 to 2024
Connectors have developed into one of the important electronic components in the electronic information industry during the industrialization process. The communication and automotive fields are the main application areas of connectors, each accounting for more than 20%. From the perspective of regional distribution, the overall connector market is relatively concentrated. China, North America, Europe, the Asia-Pacific region (excluding China and Japan), and Japan are the main markets for global connectors. In 2023, the above five regions combined accounted for more than 95% of the global connector market share, among which China is the largest connector market in the world, with a market share of 30.5% in 2023.
Global connector market regional distribution in 2023
In the domestic market, with the steady growth of the Chinese economy, the downstream industries of connectors such as computers, consumer electronics, new energy, industrial control and medical care have flourished, driving the continuous and stable expansion of the Chinese connector market size, which has become a key driving force for global market growth. The coordinated advancement of industrialization, informatization and urbanization has continuously released domestic demand potential, opening up broad space for domestic manufacturing and achieving both quantity and quality improvement. Continuous technological innovation has enhanced the comprehensive competitiveness of the manufacturing industry, promoting the rapid improvement of the overall level of domestic connector enterprises. China has become the most potential and fastest-growing region in the global connector market. From 2013 to 2023, the Chinese connector market size has increased from 13.1 billion US dollars to 25 billion US dollars, with an average annual compound growth rate of 6.43%. The market size is expected to reach about 26 billion US dollars in 2024.
Chinese connector market size from 2013 to 2024
China’s economic transformation and structural adjustment are accelerating, and the transformation and upgrading of the manufacturing industry has become a national strategy, ushering in new development opportunities. On the one hand, rapid economic development has driven the continuous and rapid growth of traditional application fields of connectors such as computers and consumer electronics; on the other hand, the continuous innovation and iteration of connector products have expanded their application fields, with huge potential in emerging fields such as new energy vehicles and the Internet of Things.