Railway Connector Market is expected to reach US$ 1,150.21 Million by 2028 | The Insight Partners

Development of Advanced and New Systems Suitable for Complex Data Communication to Provide Growth Opportunities for Railway Connector Market during 2021 to 2028

The global railway connector market is segmented on the basis of connector type, component, and application. Based on connector type, the market is segmented into broad level connector/PCB connector, data connector, pogo pin connectors/spring load connector, power connector, and others. Based on component, the market is bifurcated into backshell and connector body. Based on application, the global railway connector market is segmented into light rail/trams, metro, passenger coach, and others. In terms of geography, the market is segmented into North America (the US, Canada, and Mexico), Europe (France, Germany, Italy, the UK, Russia, and the Rest of Europe), Asia Pacific (Australia, China, India, South Korea, Japan, and the Rest of APAC), Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of MEA), and South America (Brazil, Argentina, and the Rest of SAM).

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The global railway connector market is segmented into five major regions North America, Europe, Asia Pacific, Middle East & Africa, and South and Central America. In 2020, APAC led the market with a substantial revenue share, followed by North America and Europe. The growing emphasis of government across the world 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.

Impact of COVID-19 Pandemic on Railway Connector Market:

The COVID-19 pandemic has shaken several industries. The unprecedented growth in the COVID-19 confirmed cases has urged governments worldwide to impose strict restrictions on vehicles and human movement. The pandemic has not much negatively impacted the operations of European electronics manufacturers and the railways connectors market. However, from Q1 of 2021, the market ramps the production to fullest capacity. For instance, in March 2021, Amphenol, one of the major railways connectors manufacturers in Europe, announced its The manufacturing facility in France and suppliers were fully operational. Further, Amphenol announced that it can meet scheduled product delivery timelines. Also, in June 2021, Fisher Connector announced its supply chain is robust and the company can respond to the rising volume of orders. Also, various railways projects were announced to revive the railway industry in 2021 in Europe. For instance, British government allocated ~US$ 277.2 million for upgrading the Merseyside and North Wales to revive the railway industry. Thus, from the Q2 of 2021, the railway connector market showcased positive trend in terms of revenue.

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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:
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

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.

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