Press Release

Automotive Connectors Market to Grow with a CAGR of 5.12% in India through to 2029

The major drivers for the India Automotive Connectors Market include the increasing adoption of electronic components and systems in vehicles, the growth of the electric vehicle (EV) market, and the rising demand for advanced safety and infotainment features, all of which require reliable and efficient connectors for seamless functionality.

 

According to TechSci Research report, “India Automotive Connectors Market - Industry Size, Share, Trends, Competition Forecast & Opportunities, 2029”, the India Automotive Connectors Market stood at USD 650 Milion in 2023 and is anticipated to grow with a CAGR of 5.12% in the forecast period, 2024-2029. The India Automotive Connectors Market is experiencing significant growth due to several key drivers. One of the primary factors is the increased demand for advanced automotive electronics, as vehicles continue to incorporate more sophisticated technology for improved performance and functionality. Additionally, the growth of vehicle production in India has contributed to the rising demand for automotive connectors, as more vehicles are being manufactured and equipped with advanced electrical systems. Another important driver is the rising need for safety and comfort features in vehicles. With consumers placing a greater emphasis on safety and convenience, automakers are incorporating more advanced features such as advanced driver assistance systems, infotainment systems, and connectivity solutions. These features require a higher number of automotive connectors to enable seamless integration and communication between various vehicle components.

Furthermore, the proliferation of electric and hybrid vehicles in the Indian market is also driving the demand for automotive connectors. These types of vehicles rely heavily on electrical systems and components, necessitating a larger number of connectors compared to traditional internal combustion engine vehicles. As the adoption of electric and hybrid vehicles continues to grow, the demand for automotive connectors is expected to increase further.

Lastly, the Indian government's 'Make in India' initiative has led to increased localized production of automotive components, including connectors. This initiative aims to promote domestic manufacturing and reduce dependence on imports, thereby driving the market for automotive connectors in India. Overall, the India Automotive Connectors Market is witnessing significant growth driven by the increased demand for advanced automotive electronics, the growth of vehicle production, the rising need for safety and comfort features, the proliferation of electric and hybrid vehicles, and the government's push towards localized production.

 

Browse over 26 market data Figures spread through 91 Pages and an in-depth TOC on "India Automotive Connectors Market 

 

The Indian Automotive Connectors Market is an integral and thriving part of the rapidly expanding automotive industry in the country. These connectors play a crucial role in ensuring the seamless functioning of electrical and electronic systems in vehicles, encompassing critical areas such as powertrain, infotainment, and safety features. With the continuous expansion of the automotive sector, the demand for these connectors has been steadily increasing. Technological advancements further contribute to the growth of the market, as new and improved connectors are developed to meet the evolving needs of the industry. Additionally, the rising demand for electric and connected vehicles has also been a key driver of the market's growth. As the automotive industry continues to advance, the Indian Automotive Connectors Market remains a vital component, supporting the development of innovative and efficient vehicles.

India's automotive industry has been experiencing remarkable growth, emerging as one of the world's fastest-growing markets. It encompasses a diverse range of vehicles, including passenger cars, two-wheelers, and commercial vehicles. With the continuous integration of advanced technologies into vehicle designs, there is a surging demand for automotive connectors. These connectors play a crucial role in facilitating seamless communication and efficient functioning of various components within vehicles, ensuring optimal performance and safety on the roads. As India's automotive sector continues to evolve and innovate, the need for reliable and high-quality automotive connectors becomes increasingly vital in meeting the industry's dynamic requirements.

Technological advancements play a pivotal role in driving this market. As vehicles become more sophisticated, automotive connectors are essential for the integration of advanced systems such as advanced driver assistance systems (ADAS), infotainment systems, and components in electric vehicles. Consequently, the demand for high-quality connectors that can support these technologies has risen.

The promotion of electric vehicles (EVs) by the Indian government in line with sustainability efforts is also influencing the market. EVs require specialized connectors for their battery systems and powertrains, contributing to the growth of the automotive connectors market in India.

Connected vehicles are becoming more common, with various sensors and communication systems requiring connectors for data transmission and integration. With the growing use of the Internet of Things (IoT) in vehicles, connectors play a critical role in establishing seamless communication and data transmission.

In addition to the various regulatory standards and norms set by the Indian government, such as the Bharat Stage (BS) emissions standards, there are several factors that significantly influence the type and quality of connectors used in vehicles to ensure compliance and safety. These factors include the need to meet stringent environmental requirements, the demand for improved fuel efficiency, and the ever-evolving technological advancements in the automotive industry. Manufacturers and suppliers must navigate these complexities to develop connectors that not only meet the necessary standards but also contribute to the overall performance and reliability of vehicles.

The market landscape is competitive, featuring both domestic and international connector manufacturers supplying products to the automotive industry. Key players include Delphi Automotive, Molex, TE Connectivity, and Amphenol, among others.

Challenges facing the market include the necessity for high-quality and reliable connectors that meet specific safety and performance standards. Additionally, counterfeit products pose a threat to the industry, potentially compromising the safety and functionality of vehicles.

As part of the "Make in India" initiative, efforts are being made to localize the production of components, including connectors, aiming to reduce costs and improve supply chain efficiency in the automotive sector.

It is important to note that market conditions can change rapidly, and staying informed about the latest developments in the India Automotive Connectors Market through up-to-date reports, industry publications, and government announcements is crucial for those considering investments or business ventures in this sector.

 

Major companies operating in India Automotive Connectors Market are:

  • TE Connectivity Ltd.
  • Delphi Automotive LLP
  • Sumitomo Electric Industries, Ltd.
  • Yazaki Corporation
  • Amphenol Corporation
  • Molex, LLC
  • Japan Aviation Electronics Industry, Ltd.
  • Hirose Electric Co., Ltd.

 

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“The major drivers for the India Automotive Connectors Market are primarily the increased demand for advanced automotive electronics, the growth of vehicle production, and the rising need for safety and comfort features in vehicles. Additionally, the proliferation of electric and hybrid vehicles in the Indian market is also a prominent factor, with these types of vehicles necessitating a higher number of automotive connectors relative to their traditional counterparts. The government's push towards 'Make in India' initiative also leads to increased localised production, thereby driving the market.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

Automotive Connectors Market India Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2029, Segmented Market By Vehicle Type (Passenger Cars and Commercial Vehicles), By Connection Type (Wire to Wire Connection, Board to Board Connection and Wire to Board Connection), By System Type (Sealed Connector System and Unsealed Connector System), By Application Type (Body Control and Interiors, Fuel and Emission Control, Safety and Security System, Engine Control & Cooling System), By Country, Competition”, has evaluated the future growth potential of India Automotive Connectors Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in India Automotive Connectors Market.         


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Relevant Reports

India Automotive Connectors Market By Vehicle Type (Passenger Cars and Commercial Vehicles), By Connection Type (Wire to Wire Connection, Board to Board Connection and Wire to Board Connection), By System Type (Sealed Connector System and Unsealed Connector System), By Application Type (Body Control and Interiors, Fuel and Emission Control, Safety and Security System, Engine Control & Cooling System), Competition, Forecast & Opportunities, 2019-2029

Automotive | Nov, 2023

The major drivers for the India Automotive Connectors Market include the increasing adoption of electronic components and systems in vehicles, the growth of the electric vehicle (EV) market, and the rising demand for advanced safety and infotainment features, all of which require reliable and efficient connectors for seamless functionality.

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