DUBLIN–(BUSINESS WIRE)–The “Latin America Low Voltage Electrical Connectors Market by Type and Application: Opportunity Analysis and Industry Forecast, 2020-2027” report has been added to ResearchAndMarkets.com’s offering.
The Latin American low voltage electrical connectors market size is expected to reach $1.62 billion by 2027 from $1.01 billion in 2019, growing at a CAGR of 6.88% from 2020 to 2027.
Electrical connectors are devices that join electrical circuits together. These are one of the key elements used by various industries to transfer data and to provide high end connectivity among end points. In addition, a rise in government initiatives to improve connectivity within the country and surge in demand for higher bandwidth network by different industries is expected to drive growth of the Latin America low voltage electrical connectors market. There is a significant demand for high bandwidth in the telecom industry and cloud applications. Wired transmission connection offers greater bandwidth, enhanced reliability & agility, and improved security in comparison to wireless communication.
A rise in demand for high bandwidth connectors, growth in adoption of connectors in the telecommunication sector, and high investments in the construction sector are the prominent factors that drive growth of the Latin America low voltage electrical connectors market. The construction industry offers several investment opportunities for companies, given the country’s ambitious scope for infrastructure modernization, developing smart cities, and improving logistics and transportation routes.
The construction sector is growing at a tremendous pace, especially in developing countries such as Mexico and Brazil, with an increase in participation from both public and private market players. Some of the major drivers of the construction sector are industrial corridors, smart cities projects, and increase in demand for commercial spaces such as hotels, offices, retail, and entertainment units.
Moreover, a rise in initiatives to increase connectivity in rural areas is anticipated to provide lucrative opportunities for expansion of the Latin America low voltage electrical connectors industry during the forecast period. In addition, lack of key broadband infrastructure connecting many homes in the country has resulted in increased connection challenges, which have been exacerbated by the COVID-19 crisis.
The Latin America low voltage electrical connectors market is segmented on the basis of type, application, and countries. On the basis of type, the market is classified into PCB connectors, TAB connectors, plug & socket connectors, terminal strip connectors, terminal blocks connectors, and others. The applications covered in the market include HVAC, electrical power, industrial, factory automation, fire & security, electronics & communication, automotive, public infrastructure, and others.
Market trends for Latin America are analyzed across Mexico, Colombia, Costa Rica, Chile, Panama, Argentina, and rest of Latin America. Mexico accounted for the highest market share, owing to expansion of the electronics and telecommunication market. The key players operating in the market include TE Connectivity, WAGO, Weidmuller, WECO Contact GmbH, and PHOENIX CONTACT GmbH & Co. KG., Panduit, Molex, LLC, Amphenol Corporation, and Dinkle International Co. Ltd.
Key Topics Covered:
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
3.1. Market Definition And Scope
3.2. Key Findings
3.2.1. Top impacting factors
3.2.2. Top investment pockets
3.3. Porter’s Five Forces Analysis
3.4. Market Player Positioning
3.5. Market Dynamics
3.5.1. Drivers
3.5.1.1. Rise in demand for high bandwidth connectors
3.5.1.2. Growth in adoption of connectors in telecommunication sector
3.5.1.3. High investments in the construction sector
3.5.2. Restraint
3.5.2.1. High installation costs
3.5.3. Opportunities
3.5.3.1. Rise in initiatives to increase connectivity in rural areas
3.5.4. Challenges
3.5.4.1. Lack of key broadband infrastructure
3.6. COVID-19 Impact Analysis
CHAPTER 4: LATIN AMERICA LOW VOLTAGE ELECTRICAL CONNECTORS MARKET, BY TYPE
CHAPTER 5: LATIN AMERICA LOW VOLTAGE ELECTRICAL CONNECTORS MARKET, BY APPLICATION
CHAPTER 6: LATIN AMERICA LOW VOLTAGE ELECTRICAL CONNECTORS MARKET, BY COUNTRY
CHAPTER 7: COMPANY PROFILES
- TE Connectivity Ltd
- WAGO
- Weidmuller
- WECO Contact GmbH
- Phoenix Contact GmbH & CO.
- Panduit
- Molex
- Amphenol
- Dinkle International Ltd
For more information about this report visit https://www.researchandmarkets.com/r/k03q5m
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