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Forecast of market size of China's connector industry from 2018 to 2024

Nov 08, 2023

Connectors belong to the electronic components segment industry, and the electronic components industry is a key industry supported by national policies and encouraged to develop. Relevant departments of the Chinese government have successively issued the "Basic Electronic Components Industry Development Action Plan (2021-2023)", "China's Electronic Components Industry "14th Five-Year Plan" Development Plan (2021-2025)" and "Implementation Opinions on Manufacturing Reliability Improvement" A series of industrial development goals, incentive policies and safeguard measures have been formulated in the documents, and it is proposed to focus on core basic parts and components, guide the upstream and downstream of the industrial chain to jointly tackle key problems, and accelerate the realization of high-quality development of the basic electronic components industry.

As the world's manufacturing industry shifts to mainland China, the center of global connector production has also shifted to mainland China. China has become the world's largest connector production base. As China's overall connector manufacturing level and market size expand year by year, China has become the region with the most development potential and fastest growth in the global connector market. In the field of high-voltage connectors for new energy vehicles, domestic manufacturers have been able to stand shoulder to shoulder with overseas giants. Overseas manufacturers of high-frequency and high-speed connectors have a slight advantage, and leading domestic companies are accelerating to catch up to narrow the gap. The localization rate of automotive connectors continues to increase, accelerating the development of the industry.

From a domestic perspective, benefiting from the continued development of downstream industries such as communications, consumer electronics, new energy vehicles, industrial control and security, new energy mobile energy storage, and solar photovoltaics, the market size of China's connector industry continues to grow and has become the world's largest connector industry. device production base. The "2024-2029 China Connector Industry Analysis and Development Forecast Report" released by the China Business Industry Research Institute shows that China's connector market size will be 193.9 billion yuan in 2022, with an average annual compound growth rate of 6.11% in the past five years. Analysts from the China Business Industry Research Institute predict that China's connector market will reach 205.7 billion yuan in 2023 and 218.3 billion yuan in 2024.

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