- Global EV connector market set to hit USD 10.9 billion by 2030 from USD 2.0 billion in 2023.
- Growth driven by demand for high-voltage systems and industry focus on miniaturisation.
- Key players, including TE Connectivity, Aptiv, Yazaki, Molex, and Sumitomo Electric, adapting to the evolving electric revolution.
From high-voltage systems to board-to-board integration, unveiling the forces shaping the global EV Connector Market by 2030
The global electric vehicle (EV) connector market is poised for significant growth. The burgeoning market is projected to rise from USD 2.0 billion to an impressive USD 10.9 billion by 2030. This projection comes from a comprehensive research report titled “EV Connector Market.”
The impetus behind this growth is the increasing demand for EV connectors. The essential nature of industry-wide high-voltage systems is driving this growth. This includes initiatives for miniaturisation, weight reduction, and the pursuit of high-performance materials.
The surge in data transmission requirements for Advanced Driver-Assistance Systems (ADAS), battery management, vehicle lighting, and autonomous driving is reshaping the industry landscape.
EVs are progressively integrating ADAS and autonomous driving technologies.
This only extends the crucial role of connectors in managing massive data flows becomes evident. This trend poses a challenge and presents an opportune moment for connector manufacturers to adapt to the ever-evolving emobility revolution.
Prominent players in this dynamic market include TE Connectivity Ltd., Aptiv PLC, Yazaki Corporation, Molex LLC, and Sumitomo Electric Industries Ltd. They strategically position themselves to navigate the transformative currents in the automotive sector.
The engine management and powertrain segment are gearing up for a notable growth trajectory with a projected CAGR of 24.3%. In Plug-in Hybrid Electric Vehicles (PHEVs), the engine management system assumes a central role in controlling crucial operations such as ignition, fuel injection, and emissions control.
Simultaneously, the powertrain—comprising an internal combustion engine (ICE), an electric motor, and a battery—harmonises to deliver optimal performance and efficiency. In the realm of connectors, the board-to-board connection system emerges as a frontrunner, poised to claim the largest market share.
These connectors play a pivotal role in high-end EV applications. They ensure seamless high-speed data transmission for battery management, intricate sensor networks for autonomous driving, and powering sophisticated displays and infotainment systems.
Europe is accelerating the shift towards emobility, significantly contributing to the global EV connector market. The automotive industry is embracing electrification and governments are advocating for clean energy. Therefore, the need for efficient and standardised EV charging solutions is sparking innovation in connector technology.
