Market Research Report
Train Seat Market Size, By Train, By Product, By End-user, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 - 2027
|Published by||Global Market Insights Inc.||Product code||1002929|
|Published||Content info||165 Pages
Delivery time: 2-3 business days
|Train Seat Market Size, By Train, By Product, By End-user, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 - 2027|
|Published: April 26, 2021||Content info: 165 Pages||
Train Seat Market Size, By Train (Regional/Intercity, High-speed, Metro, Light), By Product (Non-recliner, Luxury/Premium, Recliner, Subway Seats, Sleeper/Couchette), By End-user (OEM, Aftermarket), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 - 2027.
The train seat market will witness sizable gains by 2027 owing to increasing government focus and investment towards the advancement of trains and locomotives. Additionally, consolidating focus towards development of smart city infrastructures and convenient modes of transportation around the globe would also augment the business scenario.
Faster and advanced trains utilize less energy to run and are thus, more environment friendly. The growing focus on research and development activities in the train seat sector to improve ride comfort for humans is expected to propel market demand in developed and emerging economies.
Launch of new trains and increasing consumer focus on safer transportation after the COVID-19 outbreak are some key factors that are expected to create significant growth potential for the industry in the future.
Moreover, ongoing development of high-speed rails is also predicted to increase the product demand for the train seat market in the assessment period. The train seat market has been segmented on the basis of train, product, end-user, and region.
Based on train, the light trains sub-segment will witness a fair growth rate by 2027, owing to their surging demand in urban areas. Light trains offer benefits like more comfortable rides and lower operating costs for passengers, and are known to generate lesser noise pollution compared to other modes of transportation.
In terms of product, the subway seats sub-segment is projected to growth at a CAGR of around 5% over the analysis timeframe driven by the proliferating metro expansion across large and dense cities. Recent increase in the introduction of premium trains in emerging economies is expected to boost segmental growth further.
For instance, increasing significance of premium train seats in luxury trains such as India's Golden Chariot and Maharajas' Express, and Keihan Electric Railway Co.'s Keihan 3000-series train, among others, will propel market growth in the future. Such growth is especially expected to be witnessed in emerging markets of the APAC region.
Based on regional landscape, the Middle East & Africa region accounts for more than 5% of the overall market revenue and is anticipated to observe substantial growth in the coming years. The growing rail infrastructure in region is increasing product sales, which will further contribute to industry demand in MEA in the coming years.
Recently, Mexico has seen a rise in the number of luxury trains, such as the Jose Cuervo Express, prepping to start operating again with attractive discounts after the COVID-19 pandemic ends. This is estimated to boost travel in Mexico, thereby boosting train seat market demand in Latin America in the forecast period.