Dublin, March 22, 2022 (GLOBE NEWSWIRE) -- The "Railway Connector Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Connector Type, Component, and Application" report has been added to ResearchAndMarkets.com's offering.
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.
Railway is among the hardest hit sectors by the onset of COVID-19 outbreak. According to the WSP Global, in 2020, the public transport in urban area was decreased by 75% in Canada, 70% in the US, 77% in the UK, 50% in UK, 35% in South Korea, 65% in Australia, and 30% in Hong Kong. Owing to containment norms laid down by governments across the world affected the passenger footfall, which impacted the railway sector, thereby negatively affected the railway connectors market from demand side in 2020. Further, disruption in supply lines of railway connectors market players impacted the market from supply side in 2020. However, from the late Q3 of 2020, the containment norms were relaxed, and economies started to reopen. The change increased the railway passenger footfall. Moreover, government initiatives in the form of investments to expand railway network and improve railway infrastructure to accelerate the post-COVID-19 economic recovery of railways sector positively affected the growth of the railway connectors market from 2021.
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.
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 operating in the global railway connector market and profiled in the market study.
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Key Topics Covered:
1. Introduction
2. Key Takeaways
3. Research Methodology
4. Railway Connectors Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 Europe
4.2.3 APAC
4.2.4 MEA
4.2.5 SAM
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. Global Railway Connector Market - Key Industry Dynamics
5.1 Market Drivers
5.1.1 Increasing Number of Passengers Train and Railway Projects
5.1.2 Emergence of Driverless Trains/Automated Trains in Developing Countries
5.2 Market Restraints
5.2.1 High Maintenance Costs of Rolling Stocks and Increased Complexity in Train Systems
5.3 Market Opportunities
5.3.1 Development of Advanced and New Systems Suitable for Complex Data Communication
5.4 Future trends
5.4.1 Development of Intelligent Rail Systems and Incorporation of Big Data in Rail Industry
6. Railway Connectors Market - Global Market Analysis
6.1 Railway Connectors Market Overview
6.2 Railway Connectors Market Forecast and Analysis
6.3 Market Positioning - Global Key Players
7. Railway Connectors Market Analysis - By Connector Type
7.1 Overview
7.2 Railway Connectors Market, By Connector Type (2020 and 2028)
7.3 Board Level Connector/PCB Connector
7.3.1 Overview
7.3.2 Board Level Connector/PCB Connector: Railway Connectors Market - Revenue and Forecast to 2028 (US$ Million)
7.4 Data Connector
7.4.1 Overview
7.4.2 Data Connector: Railway Connectors Market - Revenue and Forecast to 2028 (US$ Million)
7.5 Pogo Pin Connectors/ Spring Load Connector
7.5.1 Overview
7.5.2 Pogo Pin Connectors/ Spring Load Connector: Railway Connectors Market - Revenue and Forecast to 2028 (US$ Million)
7.6 Power Connector
7.6.1 Overview
7.6.2 Power Connector: Railway Connectors Market - Revenue and Forecast to 2028 (US$ Million)
7.7 Others
7.7.1 Overview
7.7.2 Others: Railway Connectors Market - Revenue and Forecast to 2028 (US$ Million)
8. Railway Connectors Market Analysis - By Component
8.1 Overview
8.2 Railway Connectors Market, By Component (2020 and 2028)
8.3 Backshell
8.3.1 Overview
8.3.2 Backshell: Railway Connectors Market - Revenue and Forecast to 2028 (US$ Million)
8.4 Connector Body
8.4.1 Overview
8.4.2 Connector Body: Railway Connectors Market - Revenue and Forecast to 2028 (US$ Million)
9. Railway Connectors Market Analysis - By Application
9.1 Overview
9.2 Railway Connectors Market, By Application (2020 and 2028)
9.3 Light Rails/Trams
9.3.1 Overview
9.3.2 Light Rails/Trams: Railway Connectors Market - Revenue and Forecast to 2028 (US$ Million)
9.4 Metro
9.4.1 Overview
9.4.2 Metro: Railway Connectors Market - Revenue and Forecast to 2028 (US$ Million)
9.5 Passenger Coach
9.5.1 Overview
9.5.2 Passenger Coach: Railway Connectors Market - Revenue and Forecast to 2028 (US$ Million)
9.6 Others
9.6.1 Overview
9.6.2 Others: Railway Connectors Market - Revenue and Forecast to 2028 (US$ Million)
10. Railway Connectors Market - Geographic Analysis
11. Impact of COVID-19 Pandemic
11.1 Impact of COVID-19 Pandemic on Global Railway Connectors Market
11.1.1 North America: Impact Assessment of COVID-19 Pandemic
11.1.2 Europe: Impact Assessment of COVID-19 Pandemic
11.1.3 Asia-Pacific: Impact Assessment of COVID-19 Pandemic
11.1.4 Middle East and Africa: Impact Assessment of COVID-19 Pandemic
11.1.5 South America: Impact Assessment of COVID-19 Pandemic
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 New Product Development
13. Company Profiles
13.1 Amphenol Corporation
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 TE Connectivity Corporation
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Smiths Interconnect
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 HARTING Technology Group
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Fischer Connectors SA
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 TT Electronics
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 KYOCERA-AVX
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Molex, LLC (Koch Industries, Inc.)
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Schaltbau GmbH
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Allied Electronics Corporation
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/h2sttu
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