The molded interconnect devices market is slated to witness commendable growth in Europe owing to the presence of key automotive OEMs. These OEMs comprise Fiat, Daimler, BMW Group, and DAF Trucks among others, that are focusing on vehicle electrification and advanced automotive systems.

As per the International Energy Agency (IEA), in 2020, Europe recorded more than 1.4 million new electric cars with France and Germany, accounting for over 185,000 and 395,000 units of registered electric vehicles respectively. Further, the EV sales in Norway experienced an upsurge of almost 75% in 2020 when compared to 2019.

This escalating adoption of electric vehicles in Europe is set to provide new growth opportunities to market players, boosting the demand for molded interconnect device materials in the region.

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On this note, Global Market Insights, Inc., anticipates the molded interconnect devices market share to surpass USD 1 billion through 2027.

Numerous molded interconnect device manufacturers are getting involved in the adoption of new partnership and collaboration strategies for catering to the high product demand. For instance,

• In March 2021, Amphenol ICC entered into a strategic partnership with TactoTek for the joint development of automotive-grade connectors for TactoTek’s IMSE (In-mold structural electronics) portfolio. The agreement will aid TactoTek in the development of in-mold connectors for smart surfaces across automotive applications.
• In September 2020, Harting claimed that LDS (laser direct structuring) technology offers a method of electronic assembly in the absence of PCBs. LDS technology has taken on escalating popularity through the recent years, works hand-in-hand with MIDs.

Increasing uptake of industrial robots to propel industry outlook

The industrial segment in the molded interconnect devices market accounted for a revenue of more than 9% in 2020 and is expected to expand at a CAGR of more than 12% between 2021 and 2027. This rise is attributed to the escalating uptake of industrial robots at the global level.

These robots are integrated with numerous sensors, hardware systems, and PCBs, that are fabricated over MID technology. MIDs allows the reduction of the number of components in the final products, in turn creating more space for the integration of advanced systems and sensors in industrial robots.

In February 2020, the International Federation of Robotics, in its press release, stated that almost two million new units of industrial robots are estimated to be deployed in factories worldwide over 2020-2022. The demand for 3d molded interconnect devices and other associated materials is poised to be impelled by the surging penetration of industrial robots across processing and manufacturing industries.

How will the COVID impact hinder molded interconnect devices market expansion?

The SARS-CoV-2 pandemic has created a severe impact on the demand for molded interconnect device materials in the mid-2020. Numerous regulatory bodies across the globe have imposed lockdown restrictions, that have led to the shutdown of several production units across industrial manufacturing, consumer electronics, and automotive industries.

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Owing to which, numerous manufacturers have shifted their current production units to new regions mainly on account of shortage of raw materials and components, supply-chain disruption, and international trade restrictions. These factors are likely to hamper market expansion to a certain extent.

All in all, the surging adoption of MID technology in telecommunication base station equipment will escalate molded interconnect devices market size through the projected period.

Table of Contents (ToC) of the report:

Chapter 1   Methodology and Scope

1.1    Scope & definition

1.2    Methodology

1.3    Data Sources

1.3.1    Primary

1.3.2    Secondary

Chapter 2   Executive Summary

2.1    Molded interconnect devices market 360⁰ synopsis, 2016 - 2027

2.1.1    Business trends

2.1.2    Regional trends

2.1.3    Process trends

2.1.4    Application trends

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