The European connector industry has been growing as one of the most important markets in the world, being the third largest connector region in the world after North America and China, accounting for 20% of the global connector market in 2022.

I. Market performance:

1. Expansion of market size: According to statistics, benefiting from the rapid development of electronic equipment and communication technology, the size of the European connector market continues to expand. The European connector market has maintained steady growth in the past few years, and it is expected to maintain good growth momentum in the coming years.

2. Driven by technological innovation: the European connector industry is committed to the introduction of high-performance, high-reliability connector products, committed to technological innovation. For example, high-speed connectors, miniature connectors and wireless connectors, and other new products continue to emerge to meet the needs of different areas of the connector.

3. Fierce competition in the industry: the European connector market is highly competitive, Major companies compete for market share by continuously improving product quality, reducing costs, and strengthening after-sales service. This competition drives the industry to continue to progress, to provide consumers with better products and services.

Ⅱ The outlook:

1.Driven by 5G technology: the demand for high-speed, high-frequency connectors will increase significantly, and the rapid development of 5G technology. Connectors play a key role in 5G base stations, communication equipment, and wireless networks, making the European connector industry about to usher in new opportunities.

 2.Rise of smart home and IoT: Connectors, as key components for connecting smart devices and sensors, will play an important role in smart home and IoT applications. The rise of smart homes and IoT will further drive the growth of the connector market.

3. Enhanced environmental awareness: Europe’s growing emphasis on environmental protection, sustainable development, and environmental protection materials demand will promote the connector industry in a more environmentally friendly and sustainable direction. The connector industry will also be affected by environmental requirements.

The impact of exchange rates into 2023 has also led to a change in the value of the Euro. Secondly, the European connector market has seen limited growth compared to the rest of the world due to many factors. Among these, Russia’s attack on Ukraine and the resulting supply chain disruptions, particularly in the automotive sector and energy prices (especially gas prices) had a significant impact, dampening consumer confidence in general and passing it on to investors.

In summary, the European connector industry is expected to usher in new growth opportunities with the development of 5G technology, the rise of smart homes and the Internet of Things, and increased environmental awareness. Enterprises should pay close attention to changes in market demand and strengthen technology development and innovation to maintain a competitive edge in the highly competitive market.