Vietnam Automotive Connectors Market, By Region, Competition, Forecast & Opportunities, 2020-2030F

The Vietnam Automotive Connectors Market was valued at USD 618.47 Million in 2024, and is expected to reach USD 920.89 Million by 2030, rising at a CAGR of 6.90%. The robust growth is primarily attributed to the ongoing electrification of vehicles, increasing consumer demand for advanced driver assistance systems (ADAS), and the government's strong focus on automotive industrialization. Vietnam’s strategic location, competitive manufacturing costs, and trade agreements have attracted significant investments from international automakers and component manufacturers. The automotive sector, being a critical contributor to Vietnam’s GDP, is witnessing strong policy support to promote local production of electric vehicles (EVs) and hybrid systems, further necessitating the adoption of advanced connector solutions.

Key Market Drivers

Increasing Vehicle Electrification and EV Development

The shift toward vehicle electrification is a primary growth driver of the Vietnam automotive connectors market. Vietnam is witnessing accelerated adoption of electric vehicles, spearheaded by local EV manufacturer VinFast and supported by government policies aimed at reducing carbon emissions. EVs and hybrid vehicles require a greater number of connectors, especially high-voltage connectors for battery management systems, electric motors, and onboard chargers. According to the Ministry of Construction, EV sales have grown exponentially, rising from 8,000 units in 2022 to 37,800 in 2023, fueling the demand for connectors. These vehicles rely heavily on wire-to-wire and wire-to-board connectors to manage electrical subsystems, increasing the per-vehicle connector content.

Key Market Challenges

High Dependency on Imported Connector Components

Vietnam’s automotive connector supply chain remains heavily dependent on imports, particularly for precision components and high-performance connector materials. Vietnam’s automotive industry is still in a developmental stage with low localization rates. In 2023, about 70 percent of vehicles sold were assembled domestically, yet only 20 percent of their components were produced within Vietnam, reflecting a heavy dependence on imported parts and raw materials. Local manufacturers face challenges in meeting the technological standards required for advanced connectors used in electric and autonomous vehicles. The lack of domestic production capabilities for certain specialized connector components leads to increased costs and longer lead times. This reliance on imported components also exposes the market to global supply chain disruptions, fluctuating raw material prices, and geopolitical risks, impacting overall production efficiency and scalability.

Key Market Trends

Rise of Vehicle Connectivity and In-Vehicle Infotainment

The digital transformation in automotive design is driving rapid growth in connected vehicle technologies and in-vehicle infotainment systems. Vietnamese consumers are increasingly demanding smart features such as navigation, voice command, touchscreens, and seamless smartphone integration. This shift necessitates the use of advanced connectors capable of supporting high-speed data transmission and minimal latency. Ethernet connectors and optical fiber-based solutions are becoming prevalent, especially in premium passenger vehicles. As vehicle connectivity becomes standard, the demand for miniaturized yet high-bandwidth connectors is surging.

Key Market Players

• Delphi Automotive
• Sumitomo Electric Industries Ltd.
• Molex Incorporated
• Yazaki Corporation
• Japan Aviation Electronics Industry, Ltd.
• JST Mfg. Co., Ltd.
• AVX Corporation
• Amphenol Corporation
• Hirose Electric Co.,Ltd
• Foxconn Technology Group

Report Scope:

In this report, the Vietnam Automotive Connectors market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Vietnam Automotive Connectors Market, By Vehicle Type:

• Passenger Car
• Commercial Vehicles

Vietnam Automotive Connectors Market, By Connection Type:

• Wire to Wire Connection
• Board to Board Connection
• Wire to Board Connection

Vietnam Automotive Connectors Market, By Application:

• Body Control & Interiors
• Fuel & Emission Control
• Safety & Security System
• Engine Control & Cooling System

Vietnam Automotive Connectors Market, By Region:

• North Vietnam
• South Vietnam
• Central Vietnam

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Vietnam Automotive Connectors market.

Available Customizations:

With the given market data, the publisher offers customizations according to a company's specific needs. The following customization options are available for the report.

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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