Global Circular Connectors Market is forecasted to reaching nearly USD 14.04 Bn. for 2030 as per Maximize Market Research.

(IT-NEWSWIRE.COM, August 05, 2024 ) The circular connectors market is expected to grow due to its applications in a variety of industries including automotive, consumer electronics, and others. The Circular connectors are multi-pin interface connectors that provide optimum signal connection of electric or transmission signals.

In 2023, the United States is expected to hold a 43% share of the North American circular connectors market, driven by increased aerospace and defense spending. Total net energy generation in the US reached 310,710 thousand MWh in March 2021, up 1% from March 2021, boosting power consumption and demand for circular connectors. Also, the Asia-Pacific region, led by China, India, and Japan, is projected to be one of the fastest-growing markets, reflecting their expanding economies.

Major manufacturers use techniques like new product launches, mergers, and acquisitions to expand. For example, Belden Inc. bought OTN Systems N.V. for USD 71 million in January 2021 to enhance industrial automation solutions. In December 2021, Amphenol Corporation agreed to acquire MTS Systems Corporation for USD 58.50 per share in cash, totalling about USD 1.7 billion, to strengthen its high-technology interconnect and sensor solutions.

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Circular Connectors Market Segmentation:

By Type

Hybrid connectors

Signal connectors

Data connectors

Power connectors

By Application

Military

Transportation

Industrial

Residential

Medical

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Circular Connectors Market Key Players:

Amphenol

Molex

Sumitomo Wiring System

Delphi

Jonhon

ITT

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Global Circular Connectors Market is forecasted to reaching nearly USD 14.04 Bn. for 2030 as per Maximize Market Research.