The report indicates that the global automotive connector industry will grow at a CAGR of 3.5% from 2014 to 2015
Albany (PRWEB) January 09, 2015
Analyzing the global and domestic market for automotive connectors, the research report provides current and forecast figures for the period 2014-2015. The research report states that in 2014, the China automotive connector industry rounded off to US$12.7 billion, which translated into a 5.3% increase from 2013. Taking into consideration the global connector industry, the market is projected to be worth US$50.2 billion by the end of 2014, registering a 2.6% rise compared to 2013. By the end of the forecast period of 2015, the connector industry is anticipated to represent a slight increase of 2.2%, while the worldwide market for automotive connector is estimated to reach a value of US$13.1 billion by 2015. The report indicates that the global automotive connector industry will grow at a CAGR of 3.5% from 2014 to 2015.
Identifying factors that influence the rise and fall of the global and China automotive connector industry over the forecast period, the market report studies the growth drivers and inhibitors, potential growth sectors, and the scope of the international and domestic industry. According to the report, the steady performance of the overall automotive connector industry is primarily attributed to the rapid and intensive electronization of the automotive sector, thereby resulting in a significant rise in automotive connector demand. The SUV and luxury car domains have been witnessing a dramatic surge in demand from Chinese and American markets, consequently fueling the growth of the automotive connector industry.
The research study classifies companies operating within the automotive connector market into three types: automotive wiring harness companies, versatile connector companies, and professional automotive connector companies. The report indicates that among these three categories, professional automotive connector companies and automotive wiring harness companies have relatively more scope for growth as well as profitability. Taking into consideration Taiwan Hu Lane Associate, the company has been consistently performing well over the years and has not just managed to retain existing customers but has also added numerous new ones each year.
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Global and China Automotive Connector Industry Report, 2014-2015
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