NEW YORK, Dec. 10, 2018 /PRNewswire/ -- Increased
number of passengers opting for railways as the mode of transport
is expected to drive the railway connectors market growth.
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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. Leisure travel is becoming increasingly popular across the
globe, thereby leading to a substantial increase in the demand for
long-distance high-speed rail services as well as local rails for
tourists using public transport. As such, efforts are being made
across the globe to increase the comfort level of passengers
traveling by trains and reduce the intercity travel time taken by
them.
Signaling/infrastructure segment is expected to grow at a higher
CAGR during the forecast period.
The signaling/infrastructure segment is expected to be the
fastest-growing platform segment in the railway connectors
market.In railway connectors market, signaling is one of the most
important functions that provides ease in operations and increase
safety for trains.
A signaling system receives and analyzes the track data from
different locations and base station radios along with the planned
route. The data is converted to an electronic signal which warns
the rail engineers about the movement authority limits, speed
limits, and track conditions ahead.
Connector body segment is expected to hold the largest market
share during the forecast period.
Connector body is expected to be the largest connector type segment
in the railway connectors market.Connector body is the most
commonly used type of connector, from traditional industry-standard
connectors to innovative new designs, because it has been the
standard for a long time.
Connector body is used widely in modular machine design, factory
automation, robotics, transportation, and power generation.
The Middle East &
Africa railway connectors market
is expected to record the highest growth rate during the forecast
period.
The railway connectors market in the Middle East & Africa region is projected to grow at the
highest CAGR market during the forecast period.The Middle East region possesses significant
growth opportunities for railway transportation.
The region's metro and monorail rail networks are expected to
double in the coming years in terms of kilometers. Dubai, with increasing railway projects and
government spending on upgrading railway infrastructure, is
projected to drive the Middle East
& Africa railway connectors
market.
In-depth interviews were conducted with Chief Executive Officers
(CEOs), marketing directors, other innovation and technology
directors, and executives from various key organizations operating
in the railway connectors marketplace.
•?By company type: Tier 1: 35%, Tier 2: 45%, and Tier 3: 20%
•?By designation: C-level Executives: 35%, Directors: 25%, and
Others 40%
•?By region: North America: 45%,
Europe: 20%, APAC: 30%, and RoW:
5%
The railway connectors market comprises major solution providers,
such as 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). The study
includes an in-depth competitive analysis of these key players in
the railway connectors market, with their company profiles, recent
developments, and key market strategies.
Research Coverage:
The market study covers the railway connectors market and aims at
estimating the market size and growth potential across different
segments, such as platform, application, connector type, component,
and region. The study also includes an in-depth competitive
analysis of the key market players, along with their company
profiles, key observations related to product and business
offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
The report will help the market leaders/new entrants in this market
with information on the closest approximations of the revenue
numbers for the overall railway connectors market and its
subsegments.This report will help stakeholders understand the
competitive landscape and gain more insights to better position
their businesses and to plan suitable go-to-market strategies.
The report also helps stakeholders understand the pulse of the
market and provides them with information on key market drivers,
restraints, challenges, and opportunities.
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