Portland, OR, Oct. 11, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global magnetic connector market generated $1.4 billion in 2021 and is projected to reach $8.2 billion by 2031, growing at a CAGR of 19.2% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
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Report Coverage and Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $1.4 billion |
| Market Size in 2031 | $8.2 billion |
| CAGR | 19.2% |
| No. of Pages in Report | 265 |
| Segments Covered | Product, Application, Industry Vertical, and Region. |
| Drivers | Increase in the utilization of magnetic connectors in smartphone charging cables |
| Growth of the online retail platform | |
| Opportunities | Rise in medical equipment expenditure |
| Growth in the popularity and development of innovative electric vehicle (EVs) solutions | |
| Restrains | Surge in demand for wireless connectivity solutions for charging consumer products and electric vehicles (EVs) |
COVID-19 Scenario:
- The outbreak of COVID-19 has had a negative impact on the growth of the global magnetic connector market, owing to the occurrence of lockdowns in various countries across the globe.
- Lockdowns resulted in the closure of various manufacturing facilities, including those of smartphones, magnetic connectors, and various other cables, which resulted in decreased market growth.
- In addition, lack of skilled workforce and shortage of raw materials due to ban on import and export of essential items further aggravated the impact on the market.
- Furthermore, delay and cancellation of various projects due to social distancing restrictions additionally impacted market growth. These restrictions were imposed by the government to limit the spread of the virus during the pandemic.
- However, the market is expected to recover soon.
The report offers detailed segmentation of the global magnetic connector market based on product, application, industry vertical, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on fastest growing segments and highest revenue generation that is mentioned in the report.
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Based on product, the cable segment held the largest market share in 2021, holding more than half of the global market, and is expected to maintain its leadership status during the forecast period. The PCB segment, on the other hand, is expected to cite the fastest CAGR of 22.2% during the forecast period.
Based on application, the consumer products segment held the largest market share in 2021, holding more than half of the global market, and is expected to maintain its leadership status during the forecast period. The intelligent equipment segment, on the other hand, is expected to cite the fastest CAGR of 21.4% during the forecast period.
Based on industry vertical, the consumer electronics segment held the largest market share in 2021, holding more than two-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The automotive segment, on the other hand, is expected to cite the fastest CAGR of 21.6% during the forecast period.
Based on region, the market across Asia-Pacific region held the lion’s share in 2021, holding nearly two-fifths of the global market, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 20.4% during the forecast period. The report also analyses other regions such as Europe, North America, and LAMEA.
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The key players analyzed in the global magnetic connector market report include TT Electronics Plc, Rosenberger Hochfrequenztechnik GmbH & Co. KG, RS Components & Controls (I) Ltd., Amphenol Corporation, Nano Magnetics Ltd, CFE Corporation.Co., Ltd, Belkin International, Inc., C.C.P. Contact Probes Co., Ltd., Softbank robotics Europe, SPS Inc., Olight Technology Co., Ltd., Apple Inc., Adam Technologies Pvt Ltd, Exceltec Inc., HytePro Technologies Limited, GlobTek, Inc., and Philips N.V.
The report analyzes these key players in the global magnetic connector market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance and operating segments by prominent players in the market.
Key Benefits For Stakeholders:
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the magnetic connector market analysis from 2021 to 2031 to identify the prevailing magnetic connector market opportunities.
- Market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- An in-depth analysis of the magnetic connector market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global magnetic connector market forecast.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global magnetic connector market trends, key players, market segments, application areas, and market growth strategies.
Magnetic Connector Market Key Segments:
By Product:
- PCB
- Solder
- Cable
By Application:
- Consumer Products
- Consumer Products
- Smart Wearable Devices
- 3c Consumer Products
- Consumer Products
- Medical Equipment
- Intelligent equipment
By Industry Vertical:
- Consumer Electronics
- Healthcare
- Industrial
- Aerospace
- Automotive
By Region:
- North America (U.S., Canada, and Mexico)
- Europe (U.K., Germany, France, Italy, Spain, Russia, Netherlands, Belgium, Poland, and Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Australia, Malaysia, Thailand, Philippines, Indonesia, and Rest of Asia-Pacific)
- LAMEA (Latin America, Middle East and Africa)
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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