Global connectors market to reach $114.6 billion by 2030

The global connectors market, with an estimated value of US$73.1 billion in 2022, is projected to experience robust growth, reaching a size of US$114.6 billion by 2030. This substantial expansion is anticipated to occur at a Compound Annual Growth Rate (CAGR) of 5.8% during the analysis period from 2022 to 2030, according to Research and Markets.

Among the segments analyzed in the report, PCB connectors are expected to exhibit significant growth with a projected CAGR of 5.6%, reaching a market value of US$32.7 billion by the end of the analysis period. Additionally, the Rf Coaxial Connectors segment is estimated to grow at an impressive 7.2% CAGR over the next eight years.

The United States, with an estimated market value of US$13.7 billion in 2022, leads the connectors market. Meanwhile, China, the world’s second-largest economy, is forecasted to experience remarkable growth with a projected market size of US$24.9 billion by 2030, driven by a CAGR of 7.3% from 2022 to 2030.

Other notable geographic markets include Japan and Canada, each expected to grow at rates of 4.1% and 5.3%, respectively, over the 2022-2030 period. Germany, within Europe, is forecasted to exhibit approximately 5.4% CAGR.

Economic Outlook:
The global economic outlook is showing signs of improvement, with a cautious optimism for the coming year. The United States has managed to overcome recession threats, and although GDP growth is slowing due to tight monetary and financial conditions, recovery is on the horizon. In the Euro area, easing headline inflation is boosting real incomes and stimulating economic activity.

China is expected to experience robust GDP growth as the pandemic threat recedes and the government adjusts its policies. India remains on a trajectory to become a trillion-dollar economy by 2030, surpassing Japan and Germany.

However, challenges persist, including the uncertainty surrounding the war in Ukraine, slower-than-expected global inflation decline, food and fuel inflation in developing countries, and high retail inflation affecting consumer confidence and spending. Governments worldwide are working to combat inflation by raising interest rates, which may impact job creation and economic activity.

The business landscape is also evolving with the rise of new technologies, including generative AI, applied AI, machine learning, next-generation software development, Web3, cloud and edge computing, quantum technologies, electrification, renewables, and climate technologies. These technologies have the potential to drive significant incremental growth and value to global GDP in the coming years.

In this mixed economic environment, businesses that demonstrate resilience and adaptability will find opportunities amid challenges, positioning themselves for future success. Research and Markets