According to The Insight Partners’ research, the global railway connectors market was US$ 722.57 million in 2020 and is projected to be worth US$ 1,150.21 million by 2028, registering a CAGR of 5.3% during the forecast period. The increasing number of passengers train and railway projects and the emergence of driverless trains/automated trains in developing countries are the key drivers of the market.

Railway transportation is considered a more secure, safe, and economical mode of transport than road transportation. The demand for railway transportation is increasing among the population owing to its high precision and capability to cover maximum geographic areas. 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 2021, Indian railways declared the completion of 49 rail projects. Also, more than seven projects are anticipated to complete in 2022. Hence, the inclining interest of the government toward investments in the railway connector market is the factor bolstering the market expansion.

Globally, there is a rapid increase in the electrification of the transportation industry. Trains are the frontrunners of transport automation after road transport, as autonomous driving is entering the railway sector. Additionally, growing government initiatives toward driverless trains drive the growth of the railway connector market. For example, Indian railways launched a driverless train on Delhi Metro’s 57 km Pink Line in 2021. Also, the European government revealed the world’s first automated, driverless train in Germany’s Hamburg in 2021. These kinds of automation projects will boost the integration of systems, such as railway connectors. Moreover, the rising urban and local transport propels the need to integrate advanced and automated systems in rail to optimize train operations. Therefore, these factors aid the global railway connectors market growth.

On the contrary, the high maintenance costs of rolling stocks and increased complexity in train systems are anticipated to hamper the market growth.

Based on connector type, the global railway connectors market is categorized into broad level connector /PCB connector, data connector, pogo pin connectors/ spring load connector, power connector, and others. Of these, the others segment dominates the market by holding a market share of 29.6%, i.e., US$ 213.74 million in 2020. Further, it is expected to continue its dominance by comprising a market share of 29.8%, i.e., a market value of US$ 342.43 million by 2028 with a CAGR of 5.3% from 2021 to 2028.

On the basis of component, the market is bifurcated as backshell and connector body. Connector body led the domain by capturing 89.5%, i.e., US$ 646.40 million in 2020. Further, it is assessed to amass US$ 1,012.31 million by 2028, with a CAGR to record a stellar growth of 5.0% during the forecast period.

According to the application, the global railway connector market is divided into light rail/trams, metro, passenger coach, and others. In 2020, the other segment held the maximum share of 36.7%, which registered a market value of US$ 265.44 million. The segment is anticipated to grow at a CAGR of 5.4% during the forecast period to reach US$ 416.64 million by 2028.

As per our regional analysis, Asia Pacific led the domain by capturing a 40.1% market share in 2020 and a market value of US$ 290.04 million. The region is projected to reach US$ 480.67 million by 2028 and is estimated to grow at a CAGR of 5.8% from 2021 to 2028.

Key players profiled in the global railway connectors market are Amphenol Corporation; TE Connectivity Corporation; Smiths Interconnect; HARTING Technology Group; Fischer Connectors SA; TT Electronics; KYOCERA-AVX; Molex, LLC (Koch Industries, Inc); Schaltbau GmbH; and Allied Electronics Corporation.

·         In October 2019, Amphenol provided specialized connectors for rail applications such as DIN 41612, USB 2.0, Modular Jacks, D-Subs, and circular connectors.

·         TE Connectivity Corporation launched its products and services for a railway on stand 220 in Hall-3 at SIFER 2019 that took place in Lille March 26–28. The products include terminal blocks, insulators, connectors, switches, antennas, design software, and sensors in March 2019.

·         In November 2021, Smith Interconnect launched PCB Connector for rail and industrial applications.

·         In June 2021, TT Electronics’ AB Connectors became a gold member of rail forum Midlands.