RAILWAY CONNECTORS MARKET ANALYSIS

Railway connectors are devices that are used for transmitting data and signals along the passenger rolling stock, including signaling systems, power transmission, brakes and controls, and others. Installed on all types of railway systems or equipment, connectors such as ultra-resistant, fiber optics, and miniature play a vital role in ensuring efficient, safe, and reliable operation of any electrical or electronic device.

Railway connectors are a critical component and they must be carefully selected according to the technical specifications of the application. In addition to electrical parameters such as voltage and current, there are additional requirements that must be taken into consideration, such as environmental and operating conditions, resistance to salt and flame, strength, impermeability, number of coupling cycles, easy handling, and more.

The increasing utilization of ERTMS (European Rail Traffic Management System) which is utilized for railway traffic management and railway communication is one of the key factors driving the growth of the global railway connectors market. This system enables communication between the driver and traffic management center and also aids in controlling speed limit of the train by communicating with the driver.

Governments in various countries have initiated projects of faster and safer trains, which are also driving the growth of the global railway connectors market. Several countries around the globe are focusing on the implementation of modern technology such as speed monitoring, predictive maintenance, SCADA (Supervisory control and data acquisition), and others for faster and safer trains. Locomotives such as metro, bullet trains, and tubes are faster and safer than the conventional railways.

However, extreme weather conditions which make connectors non-favourable for application is one of the major challenges for the global railway connectors market growth. Failure of a connector can cause loss of vital data and it can interrupt the working of the monitoring system.

The global railway connectors market is estimated to be valued at US$ 873.4 Mn in 2022 and expected to grow at a CAGR of 5.3% over the forecast period (2022-2030).

Global Railway Connectors Market - Impact of Coronavirus (Covid-19) Pandemic

Due to strict restrictions including lockdowns during the start of the pandemic, key players in the global railway connectors market have been severely affected all over the world. The global railway connectors market is an evolving market which was hampered due to the pandemic. In various affected countries, all types of production and installation have been disrupted and the operations were shut down. Due to lockdowns over the past few months, production was decreased which ultimately affected the demand and supply of connectors. The majority of railway connector manufacturers have faced issues such as the unavailability of workforce and closure of factories due to the pandemic which further affected the production of wagons.

However, due to leniency in the restrictions, the demand for railway connectors has increased from 2021, and manufacturers have started their production to fullest capacity.

Statistics:

Europe held a dominant position in the global railway connectors market in 2021, accounting for 44% share in terms of value, followed by Asia Pacific and North America.

Figure 1: Global Railway Connectors Market Share (%), By Region, 2021

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Among regions, Europe held a dominant position in the global railway connectors market in 2021 and is expected to retain its dominance throughout the forecast period. In order to increase their market presence, key market players are focusing on business expansion. For instance, in April 2019, Croatia Infrastructure Agency signed MoU (Memorandum of Understanding) with Chinese companies such as China Road and Bridge Corporation (CRBC) and China Railway Eryuan Engineering Group Co., Ltd. (CREEC), to develop intermodal transport corridor and modernizing railway lines. Such ongoing developments in Europe increase the demand for railway connectors, thereby driving the market growth.

Major players operating in the global railway connectors market include Amphenol Sine Systems, Easterline Technologies, Fischer Connectors SA, Harting Technology, HUBER+SUHNER, ITT Inc., Molex Incorporated, Nexans, Radiall VanSystem S.r.l, Schaltbau GmbH, Sichuan Yonggui Science and Technology, Smiths Interconnect, Staubli Electrical Connectors, TE Connectivity, and TT Electronics.

Among type, the data connectors segment held the highest market share in 2021 and is expected to retain its market share over the forecast period, owing to efficient transfer of data for monitoring and testing the railway network and the ability to quickly identify areas where maintenance work is required. Applications of data connectors include railway infotainment systems, consumer ports, cameras, display units, and others. Moreover, technological advancements such as higher data transmission rate and the use of optical fiber are further expected to propel the segment growth.

Figure 2: Global Railway Connectors Market Value (US$ Mn), 2017-2030

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The global railway connectors market is estimated to be valued at US$ 873.4 million in 2022 and expected to reach 1,329.5 million by 2030, exhibiting a CAGR of 5.3% between 2022 and 2030.

Competitive Section

Major companies operating in the global railway connectors market include Amphenol Sine Systems, Easterline Technologies, Fischer Connectors SA, Harting Technology, HUBER+SUHNER, ITT Inc., Molex Incorporated, Nexans, Radiall VanSystem S.r.l, Schaltbau GmbH, Sichuan Yonggui Science and Technology, Smiths Interconnect, Staubli Electrical Connectors, TE Connectivity, and TT Electronics.

Key Developments

1. Key companies are involved in business expansion in order to strengthen their market position. For instance, in September 2021, Fischer Connectors Group, a company that designs, develops, and deploys tailored solutions that ensure high-performance connectivity, expanded its global imprint by establishing a new production site and subsidiary in Portugal. This project aims at increasing the Group’s manufacturing capacity, optimizing costs, and leveraging two connector assembly production sites (Switzerland and Portugal) for a business continuity risk management purpose.

Moreover, in 2018, ITT Inc., a manufacturer of critical engineered components and customized technology solutions for the transportation, industrial, and energy sectors, announced that it had initiated the production of highly engineered brake pads for automotive applications, at its newly opened manufacturing facility at Silao, Guanajuato

2. Market players are focusing on strategic investments in order to enhance their presence. For instance, in 2015, ITT Inc., a manufacturer of critical engineered components and customized technology solutions for the transportation, industrial, and energy sectors, made an investment of US$ 20 Mn in its Wuxi (China) facility for expanding the production capabilities of braking technologies for the automotive industry.