Railway Connector System Market to Witness a Healthy Growth
The “Railway Connector Market“ is expected to grow from US$ 803.50 million in 2021 to US$ 1,150.21 million by 2028; it is estimated to grow at a CAGR of 5.3% from 2021 to 2028.
The growing emphasis of government worldwide on increasing the railway network and improving railway infrastructure to strengthen transport infrastructure is driving the growth of the railway connectors market. However, high maintenance costs of rolling stocks and increased complexity in train systems hamper the growth of the market. On the other hand, with the growing urbanization, governments worldwide are increasingly deploying metro rail and subway projects, which is expected to flourish the railway connectors market in the coming years. Moreover, government projects, such as Dubai Route 2020 Metro, for building new rail infrastructure and increasing investments in expanding train connectivity are contributing to the growth of the railway sector. In December 2021, two new high-speed railway lines were launched in China's Central and North-East regions to support regional, social, and economic development. The US positive train control (PTC) systems mandate and increase the need for robust and dependable connectors. In 2021, Indian railways announced the completion of 49 rail projects. Therefore, increasing government investments would surge the number of railway projects, which is expected to boost the growth of the global railway connector market during the forecast period.
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Companies Profiled in this report includes:
· Amphenol Corporation
· TE Connectivity Corporation
· Smiths Interconnect
· HARTING Technology Group
· Fischer Connectors SA
· TT Electronics
· KYOCERA-AVX
· Molex, LLC (Koch Industries, Inc.)
· Schaltbau GmbH
· Allied Electronics Corporation
The railway connector market is segmented on the basis of connector type, component, application, and geography. Based connector type, the market is segmented into broad level connector/PCB connector, data connector, pogo pin connectors/spring load connector, power connector, and others. In 2021, the broad level connector/PCB connector segment led the market and accounted for the largest market share. Based on component, the market is bifurcated into backshell and connector body. In 2021, the connector body segment led the market and accounted for a larger market share. Based on application, the railway connector market is segmented into light rail/trams, metro, passenger coach, and others. In 2021, the others segment led the market and accounted for the largest market share. Geographically, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2021, APAC accounted for a significant share in the global market.
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Railway Connector Market Segmentation:
By Connector Type:
· Board Level Connector/PCB Connector
· Data Connector
· Pogo Pin Connectors/ Spring Load Connector
· Power Connector
· Others
By Component:
· Backshell
· Connector Body
By Application:
· Light Rails/Trams
· Metro
· Passenger Coach
· Others
The overall global railway connector market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the railway connector market with respect to all the segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data and gain more analytical insights into the topic. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the railway connector market.
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