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(IT-NEWSWIRE.COM, October 31, 2021 ) The North America Circular Connectors Market size is forecast to reach $4.9 billion by 2026, growing at a CAGR of 7.9% in the period 2021-2026. The growth of the Circular Connectors Market is mainly attributed to increasing medical and industrial applications such as car diagnostic systems, data cables for LCD screens and many others. Moreover, circular connectors which are designed for industrial automation and control systems are very robustly built connectors and are widely used for various applications in automation sector. Circular connectors are extensively used to enable maximum connectivity of the electric or transmission signals. For instance, total net generation of electricity in United States reached 310,710 thousand MWh on March 2021 with a 1% increase from March 2020 and is expected to elevate in forecast period owing to high electricity demands. This will provide significant growth in the demand of circular connectors to enable maximum connectivity further propelling its market growth in North American Market.
North America Circular Connectors Market Segment Analysis – By Connector Type
Circular Hybrid Connector (CHC) is a major segment, accounting for around 60% in the North America Circular Connectors market globally in 2020. Hybrid circular connectors offers end-users with 8 powers and 4 data contacts for Industrial Ethernet Connections. The Circular Hybrid Connector are typically designed for machine automation applications that require a higher performance data connection and power of up to 10 Amps. The connector provides highly reliable connection technology and meets the demanding durability and quality requirements of real-time Ethernet applications in industrial automation. Combining power supply and data into one single connector provides customers with greater flexibility in machine architecture.
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North America Circular Connectors Market Segment Analysis – By End Use Industry
One of the significant growth factors for the Circular connectors market is the deployment of circular connectors in Aerospace & Defense sector. The Aerospace & Defense segment for the North America Circular connectors market is poised to grow at a CAGR of 13.2% in the forecast period 2021-2026. Obviously, circular connectors are a natural fit for handling round cabling from high-speed digital, analog and power systems. They are most often used in aerospace and defense applications. They feature multi-pin connect designs and are easily installed and removed. Because of their streamlined fit, they are well sealed against the environment and provide tough performance in the harshest of applications. Recently, on January 2021, NASA has selected 139 proposals for follow-on funding through the agency’s Small Business Innovation Research (SBIR) program. This program is aimed to provide approximately $104 million to 124 small businesses companies located across 31 states in United States. NASA annually invests in U.S. small businesses with promising new technologies, companies developing better batteries, virtual assistants, lightweight materials and more. These technologies can benefit space missions, as well as improve life on Earth. These programs have brought significant rise in the market growth of circular connectors in the North American Aerospace & Defense sector.
North America Circular Connectors Market Segment Analysis – By Country
United States holds a dominant share of 43% in the North America Circular Connectors market in 2020, which can be attributed to increased investments in the Aerospace & Defense sector. According to the Aerospace Industries Association, aerospace exports in U.S. have increased by 26% from $113 billion in 2012 to $154 billion in 2019. Moreover, recent programs such as Small Business Innovation Research (SBIR) program, initiated by NASA on January 2021 to uplift U.S. small businesses to build promising new technologies such as developing better batteries, virtual assistants, lightweight materials and more for upgraded Aerospace applications. These programs by NASA under U.S Government has brought a major boost in market growth as well as development of circular connectors in United States region.
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North America Circular Connectors Market Drivers
Rising technological upgrades for Aerospace & Defense Applications
With the increasing demand of robust and highly efficient Unmanned Aerial Vehicles (UAVs) in the Aerospace & Defense sector, there has been surge in the requirement of strong and miniature components used for manufacturing UAVs. Specific applications that benefit from miniature circular connectors include mobile robotic equipment, hand-held electronics and Future Soldier systems. It is possible because these machines and systems require multiple circular connectors to route command signals and functions to different extremities within their instrumentation. Unmanned aircraft design is also trending this way, as many new UAV’s are reducing size and weight in an effort to enable the units themselves to be launched by hand. To do so, the units must remain small and light enough for the launch itself to be conducted by a single person. Micro-miniature circular connectors, such as those offered by Omnetics, can offer high-speed digital surveillance equipment the circuit speed and performance to insure the highest signal integrity. These technological upgrades to offer small-sized but highly efficient circular connectors tend to drive its market growth in the forecast period.
Rising Demand in Healthcare Sector
Circular Connectors plays a major role in the Healthcare sector. Different features including quick mating/unmating, keying, color-coding, chemical resist, vibration resist, enduring high-temperature and pressure are carried out easily due to application of circular connectors in different medical equipment. From patient monitoring device to disposable surgical ablation catheters, circular connectors offer medical grade push-pull, self-latching connector in plastic, metal and even waterproof IP 68 connector features. Different medical equipment which utilizes circular connector applications are patient monitor, dental laser, respiratory humidifier, endoscope, electrotherapy and many others. These rising demands of various medical equipment further drives the market growth of Circular connectors in forecast period.
North America Circular Connectors Market Challenges
Certain Limitations of Circular Connectors
Circular connectors are currently used widely in various sectors such as Aerospace & Defense, Automotive, Healthcare and others. But, in some cases, circular connectors hinder the efficiency of the equipment on which it is used due to its circular shape. Circular surface area limits the arrangement of pins and sockets on the surface of the circular connector. This limitation is typically seen in automotive sector. Moreover, with the technological upgrades and rising demand of robust and light-weight connectors, the application of plastic circular connectors is being used widely. However, not all types of plastic connectors are suitable for use in transportation, industrial, medical, laboratory or other harsh-environment applications. Plastic connectors may break faster than metal connectors, as long-term exposure to heat or direct sunlight can decondition certain types of plastic, causing cracks and deterioration. These limitations may hinder the adoption of circular connectors in these sectors further bringing major challenges in its market growth.
North America Circular Connectors Market Landscape
Partnerships and acquisitions along with contracts and up gradation are key strategies adopted by players in the North America Circular Connectors market. In 2019, the market for the North America Circular connectors remained consolidated, with the top 10 players accounting for approximately 90% of market share. The major players in the North America Circular connectors market include Amphenol Corporation, Belden Inc., CUI Inc., Eaton Corporation, Molex, Omnetics, ITT Inc. and TE Connectivity.
Partnerships/Product Launches/Contracts
In January 2021, Belden Inc. announced its acquisition of OTN Systems N.V., leading provider of automation networking infrastructure solutions, for approximately $71 million which aimed to meet the growing demand for industrial automation by adding proprietary technology and mission-critical hardware and software products for more complete end-to-end solutions.
In December 2020, Amphenol Corporation, a leading global provider of high-technology interconnect, antenna and sensor solutions and MTS Systems Corporation, a leading global supplier of advanced test systems, motion simulators and precision sensors, announced that they have entered into a definitive agreement under which Amphenol will acquire MTS for $58.50 per share in cash, or approximately $1.7 billion which aimed to build its strong product portfolio.
Key Takeaways
Key players including Amphenol Corporation, Belden Inc., CUI Inc., Eaton Corporation, Molex, accounted for around 60% of the total market share in 2020, with contracts and partnerships being adopted as key strategies.
The major driving factor in the Circular Connectors Market is increased investments in North American region in the aerospace and healthcare sector during the forecast period. In Aerospace and Defense sector, high-precision circular connectors which are machined with tight-tolerance capacities are preferred for I/O interfaces in mission-critical military and aerospace electronics, such as cockpit avionics systems.
End-user customers in military and aerospace grade environments have little patience for cheaper, lesser caliber interconnects that can adversely impact system life-spans and performance. This brings significant rise in the market growth of circular connectors in these sectors.
United States is the largest market for Circular Connector Market, accounting for majority of the North American market share in 2020 owing to the increased demand for precise situational awareness in military aircrafts. For instance, according to Aerospace Industries Association Reports 2020, the Aerospace & Defense output was recorded $909 billion in 2019 which was highest over a decade in United States. This increased output has flourished major electronics components market growth including circular connectors and is expected to rise in forecast period.
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https://www.industryarc.com/Report/19302/io-Connector-market.html
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https://www.industryarc.com/Research/Global-Automotive-Connectors-Market-Research-512372
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IndustryARC
Venkat Reddy
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venkat@industryarc.com
Source: EmailWire.Com 
Source: EmailWire.com
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