Panel Rack Mount Power Connector Market 2024-2033 : Demand, Trend, Segmentation, Forecast, Overview And Top Companies

Panel rack mount power connectors are specialized connectors designed for easy and secure mounting on panels or racks to provide power connections. The connectors are used to ensure reliable power distribution and management. It includes robust construction, high current-carrying capacity, and compatibility with standard rack mounting systems, making them essential components in power distribution systems.

Sizing and Forecast
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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Segmentation & Regional Insights
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

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.

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Major Driver Impacting Market Growth
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.

Key Industry Players
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.

The panel rack mount power connector market report table of contents includes:

1. Executive Summary

2. Panel Rack Mount Power Connector Market Characteristics

3. Panel Rack Mount Power Connector Market Trends And Strategies

4. Panel Rack Mount Power Connector Market – Macro Economic Scenario

5. Global Panel Rack Mount Power Connector Market Size and Growth
……………

32. Global Panel Rack Mount Power Connector Market Competitive Benchmarking

33. Global Panel Rack Mount Power Connector Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Panel Rack Mount Power Connector Market

35. Panel Rack Mount Power Connector Market Future Outlook and Potential Analysis

36. Appendix

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