While smaller connector companies differentiate themselves with unique product and service offerings, the big guys continue to dominate the market.
The connector industry has always been top-heavy, with the 10 largest companies accounting for a large part of the world market. For example, in 1980 the top 10 represented 38 percent of world connector sales. Forty years later, in 2020, the top 10 held a 60.8 percent market share.
Top 10 Connector Companies’ Market Share, by Decade
The connector industry achieved a 40-year CAGR of 5.0 percent (1980-2020). The top 10 achieved a CAGR of 6.2 percent during the same 40-year period.
The better performance of the top 10 is primarily a function of acquisitions. Specifically, TE Connectivity, Amphenol and Molex, ranked first, second and third, respectively, have been very aggressive acquirers. For example, Amphenol has acquired dozens of companies over the past two decades.
The following table identifies the companies ranked in the top 10 over the past five decades:
The Top 10 Connector Companies, Ranked by Decade
A close examination of the table above provides a better understanding of the industry’s history. Here are some highlights:
- Amp remained the largest connector company from 1980 to current day: the company was acquired by Tyco International in 1999, changing its name to Tyco Electronics; in 2011, the company changed its name from Tyco Electronics to TE Connectivity
- TE Connectivity, Amphenol and Molex are the only companies that remained in the top 10 from 1980 to 2020
- ITT Cannon and 3M have maintained their names but dropped out of the top 10 ranking
- Dupont (Berg), Augat, Cinch and Burndy were ranked in the top 10 in 1980 but were acquired by larger companies
- FCI was acquired by Amphenol in early 2016: Delphi changed its name to Aptiv and acquired Winchester Electronics in 2018; Hon Hai changed their name to Foxconn and spun off their connector group in 2013, creating Foxconn Interconnect Technologies (FIT)
- In 1980, all 10 companies were based in North America, but in 2020 there are only four based in North America, one in China (Luxshare) and five in Asia (FIT, Yazaki, JAE, J.S.T. and Hirose)
- As of 2020, there were no European companies in the top 10, but Rosenberger and HARTING are growing rapidly and will probably be ranked in the top 10 in the near future
Bishop & Associates produces The Bishop Report, a monthly newsletter that tracks the performance of the connector industry. Visit the Bishop & Associates website to learn more and subscribe.
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