Report : North America Railway Connectors Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Connector Type (Broad/PCB Connector, Data Connector, Pogo Pin/Spring Load Connector, Power Connector, and Others), Component (Backshell and Connector Body), and Application (Light Rails/Trams, Metro, Passenger Coach, and Others)
Connector Body Segment to Dominate North America Railway Connectors Market during 2019–2028
According to a new market research study on “North America Railway Connectors Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Connector Type, Component, and Application,” is expected to reach US$ 372.09 million by 2028 from US$ 253.50 million in 2021. The market is estimated to grow at a CAGR of 5.6% from 2021 to 2028. Development of intelligent rail systems and incorporation of big data in rail industry is the major factor driving the growth of the North America railway connectors market. However, higher maintenance costs of rolling stocks and increased complexity in train systems may hinder the growth of North America railway connectors market. The report provides trends prevailing in the North America railway connectors market along with the drivers and restraints pertaining to the market growth.
The North America railway connectors market segmented into connector type, component, application, and country. Based on connector type, the North America railway connectors market is segmented into broad /PCB connector, data connector, pogo pin connectors/ spring load connector, power connector, and others. In 2020, the others segment held the largest share North America railway connectors market. Based on component, the North America railway connectors market is segmented into backshell and connector body. In 2020, the connector body segment held the largest share North America railway connectors market. Based on application, the North America railway connectors market is segmented into light rail/trams, metro, passenger coach, and others. In 2020, the others segment held the largest share North America railway connectors market. Similarly, based on country, the market is segmented into the US, Mexico , and Canada. The US contributed a substantial share in 2020.
Allied Electronics Corporation; Amphenol Corporation; Fischer Connectors SA; HARTING Technology Group; KYOCERA-AVX; Molex, LLC (Koch Industries, Inc.); Schaltbau GmbH; Smiths Interconnect; TE Connectivity Corporation; and TT Electronics are among the leading companies in the North America railway connectors market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2019, TT Electronics launched two new products for rail & military vehicles- SteadiShield series and OcTrain series.
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