The microminiature circular connectors market in Europe is expected to grow from US$ 486.06 million in 2019 to US$ 661.22 million by 2027; it is estimated to grow at a CAGR of 4.0% from 2020 to 2027.
The adoption of microminiature circular connectors is huge in the aerospace industry; the preference for lightweight and highly reliable devices is propelling various aviation manufacturers to adopt these connectors in huge numbers. Microminiature circular connectors are designed to endure high shock and vibrations. These high-density microminiature connectors are also used in applications with limited space availability, such as UAV applications. Further, growing investments in R&D activities in the development of microminiature circular connectors are also expected to fuel the growth of microminiature circular connectors market. According to Medtech Europe, the region spent an average of 10% of GDP on healthcare, 7.3% of which was spent on medical devices. This signifies the technology adoption in the healthcare sector in the region. Thus, the growth of medical device industry is contributing to the microminiature circular connectors market growth in Europe.
The industrial application segment led the Europe microminiature circular connectors market, based on application, in 2019. Microminiature circular connectors are rugged and lightweight, and they have high density and shock resistance; these parameters drive the attention of industrial end users to these devices. Also, circular microminiature connectors are robustly built and designed for industrial automation and control. They usually have large number of screws attached to the surface on which they are mounted; further, they are designed to keep avoid contaminant contact.
The overall Europe microminiature circular connectors market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the Europe microminiature circular connectors market with respects to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants that are typically involved in this process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Europe microminiature circular connectors market. Amphenol Corporation, Franz Binder GmbH & Co. Elektrische Bauelemente KG, Glenair, Inc., Hirose Electric Co., Ltd., HUBER+SUHNER, ITT, Inc., SOURIAU SAS, TE Connectivity, are among a few players operating in the market in Europe.
The microminiature circular connectors market in Europe is expected to grow from US$ 486.06 million in 2019 to US$ 661.22 million by 2027; it is estimated to grow at a CAGR of 4.0% from 2020 to 2027. The adoption of microminiature circular connectors is huge in the aerospace industry; the preference for lightweight and highly reliable devices is propelling various aviation manufacturers to adopt these connectors in huge numbers. Microminiature circular connectors are designed to endure high shock and vibrations. These high-density microminiature connectors are also used in applications with limited space availability, such as UAV applications. Further, growing investments in R&D activities in the development of microminiature circular connectors are also expected to fuel the growth of microminiature circular connectors market. According to Medtech Europe, the region spent an average of 10% of GDP on healthcare, 7.3% of which was spent on medical devices. This signifies the technology adoption in the healthcare sector in the region. Thus, the growth of medical device industry is contributing to the microminiature circular connectors market growth in Europe.
The industrial application segment led the Europe microminiature circular connectors market, based on application, in 2019. Microminiature circular connectors are rugged and lightweight, and they have high density and shock resistance; these parameters drive the attention of industrial end users to these devices. Also, circular microminiature connectors are robustly built and designed for industrial automation and control. They usually have large number of screws attached to the surface on which they are mounted; further, they are designed to keep avoid contaminant contact.
The overall Europe microminiature circular connectors market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the Europe microminiature circular connectors market with respects to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants that are typically involved in this process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Europe microminiature circular connectors market. Amphenol Corporation, Franz Binder GmbH & Co. Elektrische Bauelemente KG, Glenair, Inc., Hirose Electric Co., Ltd., HUBER+SUHNER, ITT, Inc., SOURIAU SAS, TE Connectivity, are among a few players operating in the market in Europe.