Report : South 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)
Broad /PCB Connector Segment to Dominate South America Railway Connectors Market during 2019–2028
According to a new market research study on “South 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$ 44.40 million by 2028 from US$ 32.46 million in 2021. The market is estimated to grow at a CAGR of 4.6% from 2021 to 2028. The emergence of driverless trains/automated trains in developing countries is the major factor driving the growth of the South America railway connectors market. However, higher maintenance costs of rolling stocks and increased complexity in train systems may hinder the growth of South America railway connectors market. The report provides trends prevailing in the South America railway connectors market along with the drivers and restraints pertaining to the market growth.
The South America railway connectors market segmented into connector type, component, application, and country. Based on connector type, the South 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 broad /PCB connector segment held the largest share South America railway connectors market. Based on component, the South America railway connectors market is segmented into backshell and connector body. In 2020, the connector body segment held the largest share South America railway connectors market. Based on application, the South America railway connectors market is segmented into light rail/trams, metro, passenger coach, and others. In 2020, the metro segment held the largest share South America railway connectors market. Similarly, based on country, the market is segmented into Brazil, Argentina, and the rest of South America. Brazil contributed a substantial share in 2020.
Amphenol Corporation; Fischer Connectors SA; HARTING Technology Group; KYOCERA-AVX; Molex, LLC (Koch Industries, Inc.); Schaltbau GmbH; Smiths Interconnect; and TE Connectivity Corporation are among the leading companies in the South 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 2021, Molex acquired Keyssa Inc's core technology and intellectual property (IP) to support the needs and demands of high speed contactless connectivity.
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