The railway connectors market size is expected to grow from USD 802 million in 2018 to USD 1,069 million by 2023, at a Compound Annual Growth Rate (CAGR) of 5.92% during the forecast period. Increased number of passengers opting for railways as the mode of transport, increased demand for different types of wagons, and adoption of driverless trains by several countries are the major factors driving the railway connectors market.
The railway connectors vendors include TE Connectivity (Switzerland), Amphenol Corporation (US), Molex Incorporated (US), ITT (US), Smiths Interconnect (US), Fischer Connectors (Switzerland), Esterline Technologies (US), Schaltbau (Germany), and Sichuan Yonggui Science and Technology (China). These players have adopted various growth strategies, such as partnerships, agreements, and collaborations and new product launches, to further expand their presence in the railway connectors market. Partnerships and new product launches have been the most dominating strategy adopted by major players from 2016 to 2018, which helped them innovate on their offerings and broaden their customer base.
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TE Connectivity (Switzerland) is one of the leading companies involved in developing and designing railway connectors for various applications, including Diesel Multiple Unit (DMU), Electric Multiple Unit (EMU), passenger coaches, and light rails/trams. The company believes in establishing its brand identity through a commitment to reliability and efficiency of products and processes that help achieve maximum customer satisfaction. For instance, in September 2018, TE Connectivity launched 124 position Sliver internal I/O connectors and cable assemblies, which provide a high density solution that enables up to x20 signal transmission lanes, or 40 differential pairs.
Amphenol (US) is a major player in the railway connectors market. The company focuses on product development through extensive R&D activities. It has a wide portfolio of railway connector products. Amphenol’s innovations and strategic investments, coupled a strong product portfolio, are expected to lead to its robust international growth in the future. Its strong R&D capabilities have resulted in engineering successes in each of its key business sectors. A significant component of its strategy is to focus on program execution by improving the quality and predictability of the delivery of its products and services. For instance, in February 2018, Amphenol expanded its RJ Field & USB Field Range of rugged connectors with two new reduced Flange versions—RJF TV6 and USB3F TV—for reduced spaces in military and railway applications. The RJ and USB reduced flange receptacles combine space and weight savings with performances equal to standard RJF TV6 and USB3F TV receptacles.
Railway Connectors Market by Application (Diesel Multiple Units (DMUs), Electric Multiple Units (EMUs), Light Rails/Trams, Subways/Metros, Passenger Coaches), Platform, Component, Connector Type, and Region - Global Forecast to 2023
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