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Market Overview:
The North America Circular Connectors Market, estimated to reach $4.8 Billion by 2030 with a CAGR of 5.9% from 2024-2030, due to the rising adoption of automation systems across industries, where these connectors provide reliability, versatility, and seamless connectivity. Their role in enhancing operational efficiency boosts demand. Additionally, the renewable energy sector's expansion drives further growth, as circular connectors are crucial for power transmission, data communication, and control systems in green energy applications. The increasing reliance on sustainable energy fuels the need for high-quality connectors, spurring market growth.
Regional Insights:
The U.S. holds a 78% market share in the circular connectors sector as of 2023, driven by industrialization and growth in the automotive and electronics industries. The rise of industrial automation boosts demand for reliable, secure connectors in machinery, robotics, and factory automation. Circular connectors are preferred for their durability and environmental resistance. The trend toward smart factories and the Industrial Internet of Things (IIoT) further accelerates demand for efficient, stable connectivity solutions, supporting market growth.
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North America Circular Connectors Market: Recent Development
• In October 2024, Binder launched PBC15 connector system for transmitting high currents and voltages in tight spaces. The system is particularly suitable for applications where power and signals need to be transmitted via a cable. With the option for shielding, the connector is also optimal for applications with high demands on signal integrity or where electromagnetic transmission is required.
• In August 2024, binder has launched an M8 12-pin circular connector. This product complements the existing M8 series and sets new standards for applications in industrial sensor technology, measurement, and control, technology, camera technology, and robotics. The circular connector offers significant advantages, particularly in terms of miniaturization, flexibility, and performance.
North America Circular Connectors Market: Competitive Landscape
Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the North America Circular Connectors Industry. The top 10 companies in the North America Circular Connectors market are-
1. Amphenol Corporation
2. TE Connectivity Ltd.
3. Molex (A subsidiary of Koch Industries)
4. ITT Inc.
5. Smiths Interconnect (A division of Smiths Group)
6. Fischer Connectors SA
7. Hirose Electric Co., Ltd.8. LEMO SA
9. HARTING Technology Group
10. Glenair, Inc.
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IndustryARC
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