The panel rack mount power connector global market report 2024from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Panel Rack Mount Power Connector Market, 2024report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size – The panel rack mount power connector market size has grown strongly in recent years. It will grow from $3.29 billion in 2023 to $3.49 billion in 2024 at a compound annual growth rate (CAGR) of 6%. The growth in the historic period can be attributed to increased computing power, growth of automation in manufacturing, expansion of telecommunications infrastructure, rise of high-performance computing, and growth in renewable energy installations.
The panel rack mount power connector market size is expected to see strong growth in the next few years. It will grow to $4.42 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to increased industrial activities, increased urbanization and infrastructure, growth of data centers, increasing use of advanced medical devices, and growing urbanization and infrastructure development. Major trends in the forecast period include advancement in smart grid technology, focus on energy efficiency and sustainability, integration of advanced materials, IoT and iiot expansion, and technological integration and smart connectors.
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Scope Of Panel Rack Mount Power Connector MarketThe Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Panel Rack Mount Power Connector Market Overview
Market Drivers -The rising adoption of electric vehicles is expected to propel the growth of the panel rack mount power connector market going forward. Electric vehicles (EVs) are vehicles powered entirely or partially by electricity, utilizing electric motors and batteries instead of internal combustion engines that run on gasoline or diesel. The adoption of electric vehicles is rising due to environmental concerns, better battery technology, government incentives, lower operating costs, and more charging infrastructure. Panel rack mount power connectors are useful for electric vehicles as they provide reliable and efficient power connections for EV charging stations, ensuring safe and stable power delivery to the vehicle’s battery systems. For instance, in October 2023, according to the European Environment Agency, a Denmark-based government agency, in 2022, the EU saw significant growth in electric vehicle adoption, with electric cars making up 21.6% of new registrations and nearly two million electric cars registered, up from 1.74 million in 2021. Therefore, the rising adoption of electric vehicles is driving the growth of the panel rack mount power connector market.
Market Trends – Major companies operating in the panel rack mount power connector are developing tool-less mounting solutions to simplify installation, reduce assembly time, and improve overall system efficiency. Tool-less mounting solutions refer to innovative designs and mechanisms that enable the installation and removal of components without the need for traditional tools. For instance, in April 2022, TE Connectivity, a Switzerland-based consumer electronics company, launched fast and easy tool-less mounting solution with 369 series sealed panel mount connector. The 369 series connectors provide a range of high reliability, lightweight, compact, and cost. This connector is designed for aerospace and aviation applications, offering features like simple push-in mounting, a positive button latching mechanism, and compatibility with existing 369 connectors.
The panel rack mount power connector market covered in this report is segmented –
1) By Type: Alternating Current (AC) Power Connectors, Direct Current (DC) Power Connectors
2) By Application: Server Racks, Data Centers, Other Applications
3) By End-Use Industry: Information Technology (IT) And Telecommunication, Consumer Electronics, Industrial Automation, Automotive, Aerospace And Defense, Healthcare, Other End-Use Industries
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Regional Insights – North America was the largest region in the panel rack mount power connector market in 2023. Asia-Pacific is expected to be the fastest expansion region in the forecast period. The regions covered in the panel rack mount power connector market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies – Major companies operating in the panel rack mount power connector market are TE Connectivity Ltd., Delta Electronics Inc., Amphenol Corporation, Molex LLC, Phoenix Contact GmbH & Co. KG, Lapp Group, Hirose Electric Co. Ltd., Samtec Inc., Smiths Interconnect, HARTING Technology Group, Bel Fuse Inc., LEMO, Glenair Inc., Souriau, ODU GmbH & Co.KG, ITT Inc., Fischer Connectors, Positronic, Schurter Holding AG, Bulgin Limited, Anderson Power Products, Neutrik, Switchcraft and Conxall, CUI Inc. , Kycon Inc.
Table of Contents 1. Executive Summary2. Panel Rack Mount Power Connector Market Report Structure3. Panel Rack Mount Power Connector Market Trends And Strategies4. Panel Rack Mount Power Connector Market – Macro Economic Scenario5. Panel Rack Mount Power Connector Market Size And Growth…..27. Panel Rack Mount Power Connector Market Competitor Landscape And Company Profiles28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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