Automobile is the largest application field of connectors, accounting for 22% of the global connector market. According to statistics, the global automotive connector market size in 2019 was approximately RMB 98.8 billion, with a CAGR of 4% from 2014 to 2019. The market size of China’s automotive connectors is approximately 19.5 billion yuan, with a CAGR of 8% from 2014 to 2019, which is higher than the global growth rate. This is mainly due to the steady growth of automotive sales before 2018. According to Bishop&Associates’ forecast data, it is expected that the global automotive connector market size will reach $19.452 billion by 2025, with China’s automotive connector market size approaching $4.5 billion (equivalent to nearly 30 billion yuan in the Chinese yuan market) and a CAGR of approximately 11%.
From the above data, it can be seen that although the overall growth rate of the automotive industry is not good, the expected future growth rate of automotive connectors is increasing. The main reason for the increase in growth rate is the popularization of automotive electrification and intelligence.
The connectors of automobiles are mainly divided into three categories based on working voltage: low-voltage connectors, high-voltage connectors, and high-speed connectors. Low voltage connectors are commonly used in the fields of traditional fuel vehicles such as BMS, air conditioning systems, and headlights. High voltage connectors are commonly used in new energy vehicles, mainly in batteries, high-voltage distribution boxes, air conditioning, and direct/AC charging interfaces. High speed connectors are mainly used for functions that require high-frequency and high-speed processing, such as cameras, sensors, broadcast antennas, GPS, Bluetooth, WiFi, keyless entry, infotainment systems, navigation and driving assistance systems, etc.
The increased demand for electric vehicles mainly lies in high-voltage connectors, as the core components of the three electrical systems require support from high-voltage connectors, such as driving motors that require high-power driving energy and corresponding high voltage and current, far exceeding the 14V voltage of traditional fuel powered vehicles.
At the same time, the intelligent improvement brought by electric vehicles has also driven an increase in demand for high-speed connectors. Taking the autonomous driving assistance system as an example, 3-5 cameras need to be installed for autonomous driving levels L1 and L2, and 10-20 cameras are basically required for L4-L5. As the number of cameras increases, the corresponding number of high-frequency high-definition transmission connectors will increase accordingly.
With the increasing penetration rate of new energy vehicles and the continuous improvement of automotive electronics and intelligence, connectors, as a necessity in automotive manufacturing, are also showing an upward trend in market demand, which is a major trend.
Post time: Apr-14-2023