Dec 27, 2017   SOURCE: BusinessWire

Electronics Applications to Drive the Commercial Vehicle Connectors Market| Technavio

Technavio market research analysts forecast the global commercial vehicle connectors market to grow at a CAGR of more than 7% during the forecast period, according to their latest report.

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Technavio has published a new market research report on the global commercial vehicle connectors mar ...

Technavio has published a new market research report on the global commercial vehicle connectors market 2017-2021 under their automotive library. (Graphic: Business Wire)

The report further segments the global commercial vehicle connectors market by vehicle type (HCVs and LCVs) and by geography (the Americas, APAC, and EMEA).

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Technavio analysts highlight the following three market drivers that are contributing to the growth of the global commercial vehicle connectors market:

  • Increasing electronic applications in commercial vehicles
  • Increasing awareness on emission control, driving the adoption of quick connectors
  • Wider adoption of commercial vehicle telematics, paving the way for high-speed, high-frequency connectors

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Increasing electronic applications in commercial vehicles

Electrification of mechanical components has become a crucial trend in the passenger car segment in recent years. The commercial vehicles segment is witnessing the same trend and making way for the adoption of advanced assistance systems in commercial vehicles. Due to this reason fleet management solutions are witnessing growing demand, globally. Adoption of electrical distribution systems is being implemented due to the high demand for navigation, safety, comfort, and content in commercial vehicles. The demand for high-speed wiring, connectors, and other electronic technologies is increasing, due to the need to accommodate telematics and infotainment system in commercial vehicles.

According to Keerthi Balu, a lead analyst at Technavio for automotive electronics research, “The growing electronic applications are enabling developments in new components to meet the demand for connected commercial vehicles. Technologies such as copper connectivity solutions are being widely recognized due to lower weight and increased in-vehicle connectivity options. Technology from consumer electronics is allowing the OEMs to imply advance technologies in the commercial vehicles and thus influencing the market.”

Increasing awareness on emission control, driving the adoption of quick connectors

Adoption rate of technologies that reduce the size of engines is increasing due to the rising focus toward emission reduction and improving fuel efficiency. The changes in design structure are becoming crucial for the advent of connectors specific for these applications. One such example is quick connectors in automotive applications Quick connectors help in ensuring an easy connection for fluid lines, such as water, oil, gas, and air.

Wider adoption of commercial vehicle telematics, paving the way for high-speed, high-frequency connectors

Due to global trade activities, the fragmentation of logistics and production centers has increased, thereby creating new markets for commercial vehicle telematics. Supply chains are broken up into multiple stages because of increased manufacturing costs in developed countries. Assembly operations are outsourced to countries like China where the cost is much lower when compared to developed countries. The demand for commercial vehicle telematics systems increases with the need for efficient transportation of assembled goods between supply points.

“To enable continuous tracking and asset management, the business-driven M2M services are being globalized in a seamless and cost-conscious manner. M2M networks enable organizations to track their transport modes. To gain real-time visibility into global supply chains, value-added customer services, and telehealth delivery, the global M2M connectivity requires effective management of wireless technologies. The growing popularity of these wireless technologies in commercial vehicles is the crucial driver for the adoption of connectors in a wider application,” says Keerthi.

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