Actuator Connector Market Size, Share, Growth, and Industry Growth by Type (M8 Connector, M12 Connector, and Others) by Application (Industrial, Automotive, Communication and Others) Regional Forecast to 2028

Updated On: 20 November 2023

Report Overview

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The global actuator connector market size expanded rapidly in 2022. The global COVID-19 pandemic has been unprecedented and staggering, with the Actuator Connector market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. As per our research, the market is expected to generate substantial revenue by 2028, a robust CAGR during the forecast period. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

The actuator connectors, also known as actuator cable or actuator wiring harness. It is a device that covert electrical energy into mechanical motion or force, and are used in a wide range of applications, including robotics, automations, communication, and control systems. The actuator is an essential component that enables the actuator to receive commands from the control system and carry out its intended function. This product is typically consists of a plug and socket arrangement, with the wires running between them to transmit signals and power.

The growing demand for actuator connector is expected to grow owing to rapid urbanization, industrialization, and automation. Increasing automated systems and devices is expected to create a demand for such actuator connectors and electronics equipment. Advancements in technology has given rise to new and reliable materials which has created the demand for wide range of this products. Increase in adoption of smart homes, and smart cities is expected to drive the market demand. Expansion of urbanization is expected to drive market development. Growing demand for consumer machinery equipment and sales through online e-commerce channels is anticipated to drive market growth during the forecast period.   

COVID-19 Impact: Halt on automotive Industry to Impede Market Growth

The effects of the COVID-19 pandemic are already being felt on a global level, the global actuator connector market was significantly influenced. The outbreak of COVID-19 had a negative impact on several markets. Various countries went into lockdown. With sudden pandemic, all kinds of businesses observed disruptions. The pandemic had a significant impact on the machine and equipment industry as there was closure on the sale of machines. Halt on the production in the manufacturing plants led to affecting of demand for machinery and simultaneous product. Recovery of the market is expected to increase in adoption of automation and growing demand industrial robots which is increase the demand for global actuator connector market share.

LATEST TRENDS

"Increasing Automation and Industrialization to Boost Market Growth"

The global actuator connector market growth is on a limb, due to the increase in automation and industrialization at the global level, witnessing an enormous flow of new prospects, in various stages such as automotive, manufacturing, and aerospace. Moreover, factors such as higher adoption of smart homes and smart cities has led to the development of advanced control systems that requires actuators and actuator connectors. These systems are used in applications such as HVAS, lighting control, and security systems are projected in driving the growth of the global actuator connector market during the forecast period.

SEGMENTATION

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• By Type

Based on type, the market is divided into M12 connector, M8 connector, and others.

• By Application

Based on application, the market is divided into industrial, automotive, and communication.

DRIVING FACTORS

"Increasing demand for industrial robots to stimulate market growth" 

Industrial robots are increasingly being used in manufacturing and other industries to improve efficiency, productivity, and accuracy. Actuator connectors are a critical component of these robots, which require precise control and movement. As this product are designed to operate in harsh environments, such as high temperature, humidity, and exposure to chemicals, without degradation or failure. Industrial robots can perform tasks very faster and with greater precision than humans, which can lead to higher productivity and reduced cost, as industrial robots continues to expand , the need for high quality, durable, and specialized actuator connectors will continue to rise.

"Increasing demand for energy-efficient solutions"

Actuator connectors are used in various energy-efficient solutions such as building automation systems, which help to reduce energy consumption and improve sustainability. One of the primary            reason is the growing awareness of the environmental impact and low power consumption, this product that requires less power to operate and cost reduction are becoming more popular. Hybrid connectors combine power and data transmission in a single connector which will reduce the number of cables requited, which can save energy. With the increasing demand for sustainable solutions, global actuator connector market is expected to grow.

RESTRAINING FACTORS

"Side Effects to Hinder Market Progress" 

The actuator connector market is highly dependent on technological advancements, such as the development on new materials and manufacturing processes. Technological limitations in these areas can limit the performance of this product and hinders their adoption in certain applications. The cost of this product is relatively high compared to other types of connectors, which can be a significant barrier to entry for some businesses. The high cost of this product can also limit their adoption in some industries, which can slow market growth. Moreover, competitions from other types of connectors, such as circular connectors and rectangular connectors can also hinder market growth.

REGIONAL INSIGHTS

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"Presence of Prominent Players to Propel Market Progress in Europe"

Europe is expected to dominate the actuator connector market share. Europe is home to several leading manufacturers of actuator connectors. Europe has strong industrial base and a highly skilled workforce, which provides a competitive advantage for the development and production of complex products, such as actuator connectors. The region also established network of suppliers and service providers, which supports the growth and innovation of the industry.  

KEY INDUSTRY PLAYERS

"Market Players to Boost Market Growth"

The report delivers information about the list of market players and their operations in the industry. The information is collected and reported with proper research, technological developments, acquisitions, mergers, expanding production lines, and partnerships. Other aspects examined for this market include companies producing and introducing new products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

• Turck (India)
• Molex (U.S.)
• Franz Binder GmbH & Co. KG Electrical Components (Germany)
• METZ CONNECT (Germany)
• Jacob GmbH (Germany)
• Belden (U.S.)
• Phoenix Contact (Germany)
• HARTING Technology Group (Germany)
• ESCHA (Halver, Germany)
• Paani Precision Products (Gujarat, India)
• Min-Tec Industriale (Italy)
• KIPP Inc (U.S.)
• Elesa+Ganter (Germany)

REPORT COVERAGE

This research profiles a report with extensive studies that take into description of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.