Rising Technological Upgrades for Aerospace & Defense Applications is Anticipated to Boost The North America Circular Connectors Market During the Forecast Period 2021-2026. North America Circular Connectors Market size is forecast to reach $4.9 billion by 2026, growing at a CAGR of 7.9% in the period 2021-2026.
North America Circular Connectors Market is growing at significant growth rate in the forecast period. A Circular Connectors are multi-pin connectors used for external interfacing. They are used for data transferring, electrical signal transmissions, or for powering electrical devices. In some case, circular connectors have been designed to carry what may be referred to as a mixed signal and may be described as a power and control connector. Moreover, since these connectors are used in harsh conditions such as construction areas, manufacturing plants, aerospace industry and others, circular connectors are designed to resist extreme weathers, shocks, water and dust. In North America region, the circular connectors market is expected to grow as the application of circular connectors in various industries in the region. The rising technological upgrades for various Aerospace & Defense applications will result in fast growth of the market. The growth in the applications of various circular connectors in different medical equipment of Healthcare sectors has led to major demand for this technology. Different medical equipment which utilizes circular connector applications are patient monitor, dental laser, respiratory humidifier, endoscope, electrotherapy and many others. Hence these factors will enhance the adoption of Circular Connectors in the forecast period 2021-2026.
There is rapid increase in the demand of Portable Power in the Aerospace and Defense sector owing to operational flexibility and real-time deployment ease to end-users. It also offers numerous benefits such as circular connectors are widely employed in the applications that require an electrical connector with a more rugged terminal as their cylindrical shape makes them extremely resistant to mechanical turbulence and impact damage. The circular power connectors can be used in many applications, ranging from medical equipment to lighting for streets and vehicles and from industrial machines to consumer electronics, hence the demand for these connectors is significantly high owing their wide spread applications in various industries. For instance, Amphenol Corporation launched their new Fixed Length RF Cable Assemblies for D38999 Circulars. This would help any application to continue to use the connector and be able to expand the use to include the microwave transmission lines. Hence these benefits are analysed to drive the market growth in the forecast period 2021-2026. In 2019, TE Connectivity introduced ruggedized X-Code M12 Field Installable, and modular heavy-duty connector modules with stamped and formed contacts in its Dynamic series. Hence, these advancements are analyzed to drive the market in the forecast period 2021-2026.
North America Circular Connectors Market in United States is growing at significant rate owing to the prominent increasing industrialization and urbanization in this region. However, Mexico is analyzed to grow at highest rate during the forecast period 2021-2026 majorly because of rising investments in automotive sectors. For instance, on 2018, Scania Mexico announced a 50% increase in its investments during 2019-2020. Therefore, the demand for circular connectors is anticipated to increase due to its wide range of applications such as communication interfaces for infotainment and so on in automotive sector. U.S. is a super power economy at a global level and it is mainly due to the presence of various manufacturing industries of automotive, electronics, medical and so on. On 2019, General Motors has announced to invest $300M in Detroit plant that builds electric and self-driving vehicles for Chevrolet and the automaker’s self-driving Cruise unit. Therefore, the increase in the production of vehicles results in the higher procurement and deployment of the circular connectors thereby driving the circular connectors market 2021-2026.
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North America Circular Connectors Market Growth Drivers:
Rising demand in Healthcare sector
Circular Connectors plays a major role in the Healthcare sector. Different features including quick mating/unmating, keying, color-coding, chemical resist, vibration resist, enduring high-temperature and pressure are carried out easily due to application of circular connectors in different medical equipment. From patient monitoring device to disposable surgical ablation catheters, circular connectors offer medical grade push-pull, self-latching connector in plastic, metal and even waterproof IP 68 connector features. Different medical equipment which utilizes circular connector applications are patient monitor, dental laser, respiratory humidifier, endoscope, electrotherapy and many others. These rising demands of various medical equipment further drives the market growth of Circular connectors in forecast period 2021-2026.
The Major Players in this Market Include
The major companies in the North America Circular Connectors Market include Amphenol Corporation, Belden Inc., CUI Inc., Eaton Corporation, Molex, Omnetics, ITT Inc., Ametek Inc. and TE Connectivity. On January 2021, Belden Inc. announced its acquisition of OTN Systems N.V., leading provider of automation networking infrastructure solutions, for approximately $71 million which aimed to meet the growing demand for industrial automation by adding proprietary technology and mission-critical hardware and software products for more complete end-to-end solutions. The continuous developments in the Circular connectors will be the major driver for the market growth in the forecast period 2021-2026.
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