Crimp Terminal Market Share Analysis: Trends and Growth Forecast
Introduction
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The crimp terminal market size was estimated at USD 1.5 billion in 2023 and is projected to grow to USD 2.4 billion by 2032, reflecting a compound annual growth rate (CAGR) of 5.4%. Crimp terminals offer superior mechanical and electrical performance, which is critical in applications such as vehicles and aircraft. The growth of electric vehicles (EVs) and continuous innovation in aerospace technology are driving the demand for crimp terminals.