Railway Connectors Market Size, Share & Analysis by 2028

Railway Connector Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Connector Type (Boar Level Connector/PCB Connector, Data Connector, Pogo Pin Connector/Spring Load Connector, Power Connector, and Others), Component (Backshell and Connector Body), and Application (Light Rails/Trams, Metro, Passenger Coach, and Others)

Publication Month : Feb 2022

  • Report Code : TIPRE00007460
  • Category : Electronics and Semiconductor
  • Status : Published
  • No. of Pages : 156
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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.

Growing population, changing lifestyle, and rapid urbanization require an interconnectivity railway communication systemand driving the market growth. Moreover, increasing data rates and rising miniaturization trend in electronic devices drive developments in compact, robust, and high-speed communication solutions. The emergence of digital transmission networks on railways offers manufacturers with the challenge of developing system concepts and equipment interfaces which is suitable for complex data communication. Many European vehicles are equipped with high technologies, such as wireless data transmission, which is expected to propel the demand for railway connectors for complex data communication in Europe during the forecast period.

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Railway Connector Market: Strategic Insights

railway-connectors-market
Market Size Value inUS$ 803.50 Million in 2021
Market Size Value byUS$ 1,150.21 Million by 2028
Growth rateCAGR of 5.3% from 2021 to 2028
Forecast Period2021-2028
Base Year2021
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Impact of COVID-19 Pandemic on Railway Connector Market 

In 2020, the COVID-19 pandemic created a large-scale negative impact on global economies. The pandemic led to many challenges across various markets, such as the railway connector market. The demand and supply were majorly reduced due to low production. Further, the railway industry was negatively impacted due to lockdown. The restrictions on the supply chain created a halt in the manufacturing of railway connectors across the globe. However, the outlook for railway projects remained buoyant in 2021. Therefore, the demand for railway connectors has increased from 2021.

Lucrative Regions in Railway Connector Market

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Market Insights – Railway Connector Market

Emergence of Driverless Trains to Propel Railway Connector Market during Forecast Period

Increasing electrification across the global transportation industry irrespective of the mode of transport has led to the development of automated transport methods. Trains are the frontrunners of transport automation after road transport, as autonomous driving is making its entry into the railway sector. In Europe, automatic train operation (ATO) is becoming the latest trend that modernizes the region's railway sector. In October 2019, six German companies, led by Siemens Mobility, started a joint project named “AStriD.” The growing urban and local transport propels the need to integrate advanced and automated systems in rail to optimize train operations. Therefore, increasing demand of connectors in autonomous trains offers advantages to the players operating in the railway connector market.

Connector Type-Based Insights

Based on connector type, the railway connector market is segmented into broad level connector/PCB connector, data connector, pogo pin connectors/spring load connector, power connector, and others. The broad-level connector/PCB connector segment held the largest market share in 2021.

Players operating in the railway connector market are mainly focused on developing advanced and efficient products.

  • In January 2021, Fischer Connectors Group started the construction of a new manufacturing facility in Portugal.
  • In June 2021, TT Electronics' AB Connectors became gold members of rail forum Midlands.

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 railway connector market.

Amphenol Corporation, Kyocera-AVX, Fischer Connectors SA, Harting Technology Group, Molex, LLC (Koch Industries, Inc.), Schaltbau GmbH, Allied Electronics Corporation, Smiths Interconnect, TE Connectivity Corporation, and TT Electronics are among the key players that are profiled during this market study. In addition, several other essential market players were studied and analyzed to get a holistic view of the railway connector market and its ecosystem.

Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Connector Type, Component, and Application

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions


Which country dominated the Europe region railway connector market?

China held the largest share in APAC region. The country railway sector is witnessing massive growth in its rail freight and passengers train operations. The railway freight has kept a high level of traffic which showed fast recovery and positive trend of the country economic & social development order. China rail freight business will rise by increasing freight volume and better capacity. Furthermore, in 2021, China is looking to expand its current railway technology of its first high-speed railway that links Beijing and Zhangjiakou, where the games 2022 Winter Olympic skiing events will be held. Thus, the rising investment and development towards the advancement of trains will drive the market growth.

Which are the major companies operating in the railway connector market?

The major companies in railway connector includes Amphenol Corporation, Kyocera-AVX, Molex, LLC (Koch Industries, Inc.), Schaltbau GmbH, and TE Connectivity Corporation. The ranking has been derived analysing multiple parameters such as annual revenue earned from railway connector portfolio, client base, geographic locations, R&D expenditure, brand image, and number of employees, among others. These companies are actively participating in developing railway connector for various applications.

Which region has dominated the railway connector market in 2021?

In 2021, APAC led the market with a substantial revenue share, followed by North America and Europe. China is the leading country in APAC for railway connector, and it is expected to rise rapidly over the projection period, followed by the India and Japan.

Which connector type dominated the market in 2021?

The global railway connector market was dominated by broad level connector /PCB connector segment accounted for the largest share in 2021 during the forecast period. The demand for fast, efficient, and reliable transport systems entails an increasing complexity of the technologies used to manufacture trains that will drive the PCB to connect type.

What are key driving factors behind railway connector market growth?

The railway connector have been in use for several years worldwide, however, the technology has been experiencing immense demand in recent years. Increasing number of passengers train and railway projects and emergence of driverless trains/automated trains in developing countries are supporting the growth of railway connector market.

What are key market opportunities for railway connector market?

The increasing data rates and rising trend of miniaturization in electronic devices, drive developments toward compact, robust, and high-speed communication solutions. The emergence of digital transmission networks on railways presents manufacturers with the challenge of developing system concepts and equipment interfaces suitable for complex data communication. Many European vehicles are equipped with high technologies, such as wireless data transmission, which is expected to propel the demand for railway connectors for complex data communication in the Europe region during the forecast period. Therefore, with the development of advanced and new systems suitable for complex data communication will more opportunities for railway connector.

The List of Companies - Railway Connectors Market

  1. Amphenol Corporation
  2. TE Connectivity Corporation
  3. Smiths Interconnect
  4. HARTING Technology Group
  5. Fischer Connectors SA
  6. TT Electronics
  7. KYOCERA-AVX
  8. Molex, LLC (Koch Industries, Inc.)
  9. Schaltbau GmbH
  10. Allied Electronics Corporation

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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