Industry Background:
Low voltage wiring connectors are used for the purpose of connecting or joining two open-ended electrical terminals. It consists of plugs and jacks which help in connecting two low voltage wires. It also acts as an adapter, which provides a temporary or portable connection between a low voltage wiring and devices. The major advantages of these connectors are, they are smaller in size, better contact resistance, and high resistance to vibration, water or other contaminants. These connectors are manufactured in such a way that it provides a reasonably fast and easy to install without special tools. Also, these connectors offer insulation, protection, long-term reliability, short-circuit stability, etc. Increase in the number of connectivity across the regions is influencing the market to grow at a tremendous rate.
According to AMA Research, the market for Low Voltage Wiring Connectors is expected to register a CAGR of 7.0% during the forecast period to 2030. This growth is primarily driven by Increase in Transmission and Distribution (T&D) Network Globally
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | Unit |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Electronic Equipment & Instruments sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Nexans (France), Metway Electrical Ind. Ltd (United Kingdom), Fischer Connectors (Switzerland), Anixter (United States), Travis Pattern & Foundry (United States), Staubli Electrical Connectors (Switzerland), Power Dynamics (United States), United Universal Industries (United States), SMS Connectors (United States), Americor Electronics (United States) and Mathis-Kelley (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 4th January 2022, Trexon a portfolio company of Audax Private Equity announced a complete acquisition of Power Connector Inc. is leading supplier of tactical communication interconnect for military applications. With the acquisition, Trexon continues to build market leader specialty connectivity solutions for mission-critical applications and looking forward to working with the strong team and maximizing the growth potential of Power Connector Inc.
In March 2023, Phoenix Contact (Germany) launched the new MINI COMBICON Push-in Terminal Block series. These compact connectors offer space-saving design and push-in termination for efficient wire connection.The global Low Voltage Wiring Connectors market is fragmented due to the offerings from connectors such as insulation, protection, long-term reliability, and short-circuit stability. So the players are focusing and investing in technological advancements. These will enhance their market presence. The companies are also planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Regulatory Insights:
According to NEMA (National Electrical Manufacturers Association), it defines that Electric Power Connection for Substations must be equipped with Covers uninsulated connectors and bus supports that are made of metal and intended for use with conductors or bus made of copper or aluminum alloy and found in substations. Connectors that are supplied in equipment are covered by the equipment standards and are excluded from this standard.
Influencing Trend:
Rising Population Awareness and Demand towards the Residential and Commercial Lighting
Market Growth Drivers:
Increase in Transmission and Distribution (T&D) Network Globally, Increasing Investment by the Government to Improve Connectivity Within Regions and Growing Demand for Electric Vehicles
Challenges:
The Rise in Price of Raw Materials Used in Connectors
Restraints:
Complex Error Detection and Troubleshooting Process in Low Voltage Wiring Connectors and Investment in Wireless Communication Infrastructure
Opportunities:
Government Investment to Increase Rural Connectivity
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Low Voltage Wiring Connectors Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Low Voltage Wiring Connectors Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Low Voltage Wiring Connectors players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Low Voltage Wiring Connectors Study Sheds Light on
The Low Voltage Wiring Connectors Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Low Voltage Wiring Connectors industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Low Voltage Wiring Connectors industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.