1. Market size
In recent years, China’s economy has maintained sustained and rapid growth. Driven by the rapid development of China’s economy, the downstream connector markets for communications, transportation, computers, and consumer electronics have also achieved rapid growth, directly driving the rapid growth of my country’s connector market demand. The data shows From 2016 to 2019, the size of China’s connector market has grown from US$16.5 billion to US$22.7 billion, with an average annual compound growth rate of 11.22%. China Commercial Industry Research Institute predicts that my country’s connector market will reach US$26.9 billion and US$29 billion in 2021 and 2022, respectively.
2. Fast technology update
With the acceleration of product upgrades in the downstream industry of connectors, connector manufacturers must closely follow the development trend of downstream industry technology. Connector manufacturers can only maintain strong profitability if they continue to develop new technologies, conform to market development trends, and build their own core competitiveness.
3. The market demand for connectors will be broader
The electronic connector industry is facing an era of coexistence of opportunities and challenges in the future. With the rapid development of security, communication terminals, consumer electronics and other markets, the application of 5G technology and the arrival of the AI era, the development of safe cities and smart cities will accelerate. The connector industry will face a broad market space.
Future development prospects
1. National industrial policy support
The connector industry is an important sub-industry of the electronic component industry. The country has continuously adopted policies to encourage the healthy development of the industry. “Industrial Structure Adjustment Guidance Catalog (2019)”, “Special Action Plan for Enhancement of Manufacturing Design Capability (2019-2022) )” and other documents all regard new components as the key development areas of my country’s electronic information industry.
2. The continuous and rapid growth of downstream industries
Connectors are indispensable components for security, communication equipment, computers, automobiles, etc. In recent years, benefiting from the continuous development of the downstream industry of connectors, the connector industry is developing rapidly driven by the strong demand of downstream industries, and the market demand for connectors remains The trend of steady growth.
3. The shift of international production bases to China is obvious
Due to the vast consumer market and relatively cheap labor costs, international electronic product and equipment manufacturers transfer their production bases to China, which not only expands the market space of the connector industry, but also introduces advanced production technology and management concepts into the country to promote This has contributed to the considerable progress of domestic connector manufacturers and promoted the development of the domestic connector industry.
Post time: Nov-17-2021