Circular Connectors Market By Product Type (Metal Circular Connectors, Plastic Circular Connectors); By Application (Automotive, Industrial Automation, Telecommunications, Aerospace and Defense, Medical Devices, Renewable Energy); By End-User Industry (Manufacturing, Healthcare, Transportation, Energy and Power, Consumer Electronics); By Geography, Segment Revenue Estimation, Forecast, 2024–2032.

The circular connectors market size was USD 6.8 billion in 2023 and is expected to reach USD 10.5 billion by 2030 growing at a CAGR of 6.7% from 2023 to 2030.

 

The Circular Connectors focuses on designing, manufacturing, and marketing circular shaped connectors widely used in electronic and electrical equipment. The circular connectors are developed to be highly reliable and flexible with regard to connections and are widely used in car manufacturing, aviation, telecommunication, medicine, and automated industrial processes. They are employed in scenarios where dependable links need to be established and maintained for extended periods to counteract adverse operating conditions.

 

Recently, these circular connectors have become widely used in products because of the advent of 5G technology, the expansion of EVs, and the improvement of industrial automation technology. They are designed in that way and compatible with many systems to ensure that they will perform properly in many applications.

 

Rising Demand for EVs and Ruggedized Connectors Boosting Circular Connector Market Expansion

Rising Demand for Industrial Automation: The demand for effective and durable circular connectors is also realised by the growing use of automated measures used in manufacturing processes and industries. Example: The usage of industrial robots increased by 12% in Germany in the year 2023 due to which there was a need for long-lasting connectors for industrial applications.

 

Expansion of Electric Vehicles (EVs): The increased market demand for EVs and charging systems has led to a higher usage of circular connectors in charging systems, battery management systems, and vehicle connectivity. Example: In 2023, EV production in China increased by 25%, which boosted demand for high-performance circular connectors in vehicle systems by 15%.

 

Growing Applications in Harsh Environments: Reusable circular connectors have been commonly adopted in application areas like aerospace, defense, and marine because of environmental conditions influences like moisture, shock, and temperature among others. Example: In  2023, applications in France and the defense sector showed an 18% demand increase for ruggedized circular connectors due to communication system modernization.

 

IoT Integration, Renewable Energy, and Emerging Markets Unlocking Growth in Circular Connectors

Integration with IoT and Smart Technologies: The integration of circular connectors with Internet of Things devices opens up possibilities for monitoring and controlling the devices in health care, agriculture, and other uses. For example, in India, the adoption of IoT in smart farming applications was up by 20% in 2023, driving the need for connectors for stable data transfer.

 

Emerging Markets in Asia-Pacific and Latin America: New economies remain largely unexplored due to ongoing industrialization, urbanization, and investment in infrastructure and smart cities. Example: In Brazil, the demand for circular connections employed in transport communication, and infrastructure projects in 2023 is expected to increase circulation by 15%.

 

Expansion of Renewable Energy Projects: New systems of energy production and distribution, especially in the form of wind and solar energy, provide potential applications for circular connectors. Example: In Denmark, circular connectors were utilised in 25% of new wind turbines in the year 2023 for increasing the overall system integrity.

 

Advancements in Miniaturization: Miniaturisation of connectors that has an increasing market interest in niches, such as medical instruments or wearables, are two opportunities in the market. Example: In the medical devices industry in Japan, miniaturized circular connectors for portable diagnostic equipment were up 22% annually in 2023.

 

High Costs and Competition from Alternatives Limiting Circular Connector Market Growth

High Initial Costs: High costs of circular connectors, especially of the high-grade circular connectors meant to be used in severe conditions or in certain niche applications, can slow market growth. Example: In Africa, small companies revealed that in 2023, they were using only 10% of premium-grade circular connectors up from restricted budgets.

 

Competition from Alternative Connector Types: A major threat faced by the circular connectors market is the competition that comes from other forms of connectors such as rectangular or modular connectors. Example: Rectangular connectors were 30% of the total connectors market in Mexico in 2023, having the same application as circular connectors.

 

Segment Insights: Key Applications, Industries, and Regional Trends in Circular Connectors

By Product Type

• Metal Circular Connectors

• Plastic Circular Connectors

 

By Application

• Automotive

• Industrial Automation

• Telecommunications

• Aerospace and Defense

• Medical Devices

• Renewable Energy

 

By End-User Industry

• Manufacturing

• Healthcare

• Transportation

• Energy and Power

• Consumer Electronics

 

By Region

• North America

• Europe

• Asia-Pacific

• Latin America

• Middle East & Africa

 

Circular Connectors Market Segment Analysis

Leading Product Type: Metal Circular Connectors

Metal circular connectors dominated the market in 2023 with a market share of 60% owing to the benefits such as durability, high conductivity, and capability to support severe conditions. Example: Motor vehicles in South Korea used metal connectors prominently to realise demand that saw their market share rise by 12% in 2023.

 

Leading Application: Industrial Automation

Industrial automation is the largest application segment of circular connectors, and it accounted for 35% of the total market revenue in 2023 due to the increased usage of circular connectors in various robots, sensors, and control panels. For example, in Germany, the use of circular connectors in automated assembly lines increased the efficiency of production lines by 20% in 2023.

 

Leading End-User Industry: Automotive

Automotive was the dominant application in 2023, representing 30% of the total market revenue, mainly driven by the use of circular connectors in e-mobility, vehicle connectivity, and safety features. Example: The application of circular connectors in EV Battery Management Systems saw a rise of 15% in the United States in 2023, further proving their relevance in contemporary cars.

 

Performance by Region: North America’s Aerospace and Automation Innovations Driving Growth

North America was the largest region, accounting for 35% of global revenue in 2023 due to innovations in telecommunication, defense, and industrial automation. Example: In the States, the aerospace industry used circular connectors more in 2023 by 18%, which promoted the dominancy of that region.

The Asia-Pacific region is again a high-growth area with a CAGR of 7.8% due to industrialization and urbanization in the region and the increase in electronics manufacturing. Example: The global market for circular connectors in smart grid systems posted 22% year-on-year growth in India in 2023.

 

Market Leaders: Top Companies Powering the Circular Connectors Market

• Amphenol Corporation

• TE Connectivity

• Molex LLC

• Lemo SA

• Hirose Electric Co., Ltd.

• Binder GmbH & Co. KG

• Phoenix Contact

• Fischer Connectors

• ITT Inc.

• Smiths Interconnect

 

Circular Connectors Market Report Coverage

Report Attribute	Details
Forecast Period	2023 – 2030
Market Size Value in 2023	USD 6.8 billion
Revenue Forecast in 2030	USD 10.5 billion
Overall Growth Rate	CAGR of 6.7% (2024 – 2030)
Base Year for Estimation	2022
Historical Data	2017 – 2021
Unit	USD Billion, CAGR
Segmentation	By Product Type, By Application, By End-User, By Geography
By Product Type	Metal Circular Connectors, Plastic Circular Connectors
By Application	Automotive, Industrial Automation, Telecommunications, Aerospace and Defense, Medical Devices, Renewable Energy
By End-User Industry	Manufacturing, Healthcare, Transportation, Energy and Power, Consumer Electronics
By Region	North America, Europe, Asia-Pacific, Latin America, Middle East & Africa
Key Market Drivers	Rising demand for EVs, industrial automation, ruggedized connectors, and IoT integration
Market Opportunities	Smart technologies, emerging markets, renewable energy, and miniaturization of connectors
Market Restraints	High costs, competition from alternative connectors
Key Players	Amphenol Corporation, TE Connectivity, Molex LLC, Lemo SA, Hirose Electric Co., Ltd., Binder GmbH & Co. KG, Phoenix Contact, Fischer Connectors

 

Future Market Prospects: Trends and Innovations

The market for Circular Connectors is expected to grow steadily, owing to factors such as technological progress in Industrial Automation, the growing use of Circular Connectors in electric vehicles, and the growing need for durable connectors that can withstand extreme conditions. Asian-Pacific and Latin-American markets are expected to have a great impact on the future development of the biotechnology industry.

 

It is predicted that by 2030, the market will see new technology implementation, focus on sustainability, and application variety to meet industry needs. Proactive efforts like innovation, differentiation, and regional diversification will serve as key success factors in the fast-growing industry.