Press Fit Connector Market to Value US$ 12.93 Bn By 2031, Observes TMR Study, Observes TMR Study
ALBANY, N.Y., Jan. 17, 2022 /PRNewswire/ -- According to TMR's study, the global press fit connector market is estimated to expand at a CAGR of 4.6% during the forecast period, from 2021 to 2031. The press fit technology is progressively overtaking soldering technology and is likely to emerge as one of the most important drivers for the growth of the global press fit connector market during the forecast period.
Due to rising demand for high safety requirements at affordable price and electrical functionality, the automotive segment is expected to expand rapidly in the global market. The increasing in use of hybrid and electric cars is expected to provide high revenue potential for the participants of global press fit connector market.
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High temperatures and vibrational pressures experienced by hybrid and electric vehicles (EVs) are driving semiconductor manufacturers to adhere to strict standards of the press fit connector design. The absence of soldering, on the other hand, prevents thermal stress on the PCB (Printed Circuit Board), resulting in demand for press fit connector.
Key Findings of Market Report
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Global Press Fit Connector Market: Growth Drivers
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Global Press Fit Connector Market: Key Players
Some of the key market players are
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Global Press Fit Connector Market: Segmentation
Type
Application
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