Railway Connectors Market Size, Share & Analysis by 2028

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 Connector Market

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  CAGR (2021 - 2028)

  5.3%
• Market Size 2021
  US$ 803.50 Million
• Market Size 2028
  US$ 1,150.21 Million

Market Dynamics

GROWTH DRIVERS

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FUTURE TRENDS

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OPPORTUNITIES

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Key Players

• Amphenol Corporation
• TE Connectivity Corporation
• Smiths Interconnect
• HARTING Technology Group
• Fischer Connectors SA
• TT Electronics
• KYOCERA AVX
• Molex LLC Koch Industries Inc
• Schaltbau GmbH

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Connector Type

• Boar Level Connector/PCB Connector
• Data Connector
• Pogo Pin Connector/Spring Load Connector
• Power Connector
• Others

Component

• Backshell and Connector Body

Application

• Light Rails/Trams
• Metro
• Passenger Coach
• Others

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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.

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.

Railway Connectors Market Report Scope

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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.