Press Release Description
Middle East and Africa Press Fit Connector Market to Witness a CAGR of Around 5.1% During 2024-30
The Middle East and Africa Press Fit Connector Market size is valued at around USD 565.20 million in 2023 and is projected to grow at a CAGR of 5.1% during the forecast period of 2024-30, cites MarkNtel Advisors in the recent research report. The rising use of press-fit connections in automotive circuit boards is driving market expansion. Press-fit connectors are used in diverse vehicle systems such as engine control units, airbags, and infotainment systems.
Modern cars are outfitted with advanced electronic systems like engine control units (ECUs), safety systems, infotainment, and communication modules. These electrical and infotainment systems and modules necessitate upgraded connectors to accommodate quicker data transfer rates. Furthermore, their dependability and resistance to external variables make them appealing to the automobile industry, which is increasing demand for press-fit connectors across the Middle East and Africa.
Moreover, the increased production of consumer electronics in the Middle East and Africa (MEA) increases demand for press fit connections. Electronic production is carried out by companies like LG, Samsung, and others in South Africa, Saudi Arabia, and the United Arab Emirates. Consumer electrical items that are complex and lightweight, such as cellphones, televisions, computers, washing machines, and so on, require press-fit connectors in their PCB manufacture, increasing demand in the region. Thus, the rising product innovation and continuous launches of unique products are augmenting the market growth and are expected to create immense opportunities in the forecast period.
In addition, the use of press-fit connections in power distribution systems expands market prospects. The press-fit connectors ensure safe and efficient power distribution by providing reliable connections between circuit components and conductors. The planned investment in electrical networks by Middle Eastern countries in order to offer uninterrupted electricity supply to consumers would create significant demand for press-fit connectors, propelling its expansion.
Compliant Press-In Segment Expected to Hold Major Market Share
Based on type, the market is segmented into compliant press-in and cold press-in. The compliant press-in segment is estimated to hold a significant share in the Middle East and Africa Press Fit Connector Market over the forecast period due to its quality of producing gas-tight and highly dependable connections. The compliant press-in connectors outperform the cold press-in terms of thermal performance, making them more suitable for temperature changes in Middle Eastern nations.
Furthermore, compliant press-fit connectors benefit from high-density PCB architectures. They are an excellent alternative for applications like consumer electronics, which require space-saving solutions proliferating market growth.
Automotive is Anticipated to Account for a Prominent Market Share
The automobile industry dominates the Middle East and Africa Press Fit Connector Market. The region's expanding production of electric automobiles and other automotive parts is driving the demand for press-fit connections. Press-fit connectors are required for the effective operation of automotive printed circuit boards in cars. Furthermore, the country's vehicle manufacturers are establishing new manufacturing facilities, which is slowing the expansion of this segment. Hence, the rising number of automobile manufacturers in the Middle East and Africa is augmenting the market growth.
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, TE Connectivity, Samtec, Fujitsu, Molex, LLC (Koch Industries, Inc.), Amphenol Communication Solutions, ERNI International, HARTING Technology Group, Sumitomo Wiring Systems, 3M, and others are looking forward to strengthening their market position.
Key Questions Answered in the Research Report
- What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
- What are the trends influencing the current scenario of the market?
- What key factors would propel and impede the industry across the region?
- How has the industry been evolving in terms of geography & solution adoption?
- How has the competition been shaping across the countries?
- How have the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
- Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?
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