Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$669.9 Million by the year 2027
The global market for Wire-to-Board Connectors estimated at US$4 Billion in the year 2020, is projected to reach a revised size of US$4.9 Billion by 2027. A latest report by Research and Markets notes that the market will be growing at a CAGR of 2.8 per cent over the analysis period 2020-2027.
“Accessory, one of the segments analyzed in the report, is projected to record a three per cent CAGR and reach US$1 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Header segment is readjusted to a revised 2.2 per cent CAGR for the next seven-year period,” read the report.
The Wire-to-Board Connectors market in the U.S. is estimated at US$1.1 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$984.2 Million by the year 2027 trailing a CAGR of 5.1 per cent over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0.7 per cent and two per cent respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 1.3 per cent CAGR.
“In the global Housing segment, USA, Canada, Japan, China and Europe will drive the 3.4 per cent CAGR estimated for this segment. These regional markets accounting for a combined market size of US$549.9 Million in the year 2020 will reach a projected size of US$696.3 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets” read the report.
It continued, “Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$669.9 Million by the year 2027, while Latin America will expand at a 4.8 per cent CAGR through the analysis period.”