The market size and growth trends of the connector industry are as follows

December 11th at 4:43pm

The market size and growth trends of the connector industry are as follows

Regarding the global connector market:

· In 2022, the market size was valued at USD 84.1 billion, with an average annual compound growth rate (CAGR) of 5.97%.

· In 2023, the market size declined slightly to approximately USD 81.9 billion, a decrease of 2.62% compared to the previous year.

· It is estimated that the market size will reach USD 85 billion in 2024.

· From 2018 to 2022, the market size grew from USD 66.7 billion to USD 84.1 billion, with a CAGR of 6.18%.

· It is projected that the global connector market will increase by 6% to USD 95.4 billion in 2024.

For the Chinese connector market:

· In 2022, the market size was RMB 193.9 billion, with a CAGR of 6.11% over the past five years.

· In 2023, the market size reached RMB 205.7 billion, with a CAGR of 5.50%.

· It is anticipated that the market size will reach RMB 218.3 billion in 2024.

· Notably, in 2023, the overall market size of the Chinese connector industry slightly declined to around RMB 178 billion.

· Projections indicate a market size of RMB 185.1 billion in 2024.

Guangdong Corecon Precision Industry Co., Ltd. specializes in the production of various specifications of push-pull self-locking connectors, new energy storage connectors, M-series circular waterproof connectors, electric bicycle signal and power BMW connector harnesses, and other high-current connectors to meet the diverse needs of customers. We will provide you with professional solutions. If you have any questions or suggestions, please leave a message, we will reply as soon as possible!