Train Seat Market size is estimated to exceed USD 3 billion by 2032, according to the latest research report by Global Market Insights Inc.
Emerging nations are focusing on creating new transportation infrastructure to boost the real estate industry and attract foreign direct investments, which are anticipated to support industry development. In addition, the construction of high-speed trains is increasingly popular in developing countries due to economic factors, transportation issues following the COVID-19 outbreak and environmental concerns, all of which are expected to drive up product demand. In January 2023, China's CRRC Corporation Ltd. launched Asia's first hydrogen urban train with a peak speed of 160 km/h and a practical range of 600 km without recharging.
Increasing efforts to improve regional connectivity with high-speed trains
The train seat market from the high-speed segment will observe 5.5% CAGR during 2023 to 2032 owing to prominent efforts by industry players to improve regional connections and boost the flow of factors, which is fostering sector outlook. In October 2022, Eversholt Rail, Hitachi Rail, and Southeastern inked a deal to refurbish the Class 395 Javelin high-speed trains with a comprehensive interior revamp, including new carpets and seats, as well as planned new seating configurations to accommodate those with limited mobility.
Rising in spending on luxury/premium tours
The luxury/premium train seat industry is estimated to amass for USD 250 million by 2032. To reap the economic benefits of high-spending international tourists who provide a variety of socioeconomic benefits, expenditure on luxury tours and travel has increased, raising the need for premium seats. In May 2022, Deutsche Bahn announced the renovation of its future ICE fleets to enhance functionality and include redesigned seats, fresh hues and modern & durable materials for interior designs.
Browse key industry insights spread across 375 pages with 336 market data tables & 26 figures & charts from the report, “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), COVID-19 Impact Analysis, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2023 – 2032”, in detail along with the table of contents:
Refurbishments of train interiors to supplement aftermarket industry growth
The aftermarket segment is expected to witness 4.5% growth rate from 2023 - 2032. Rail interiors are continually required to keep up with the evolving preferences of tourists traveling on board, necessitating periodic refurbishments and hence impelling the demand for aftermarket train seats. Furthermore, the COVID-19 pandemic has increased the demand for durable, hard-wearing, wipeable materials in the train infrastructure, which has supported market growth.
Growing deployment of smart seat technology to amplify North America industry share
The North America train seat market to be worth USD 720 million by 2032 attributed to the growing preference for seats with modern seating technology, such as video and audio ports, to improve customer convenience. Additionally, rising emphasis on the transition to a low-carbon economy is expected to augment business proceeding. By inventing energy-efficient train models, sustainable rail and multimodal transportation service providers are building resilience in their operations to prepare for a low-carbon future. For instance, Canadian Pacific is designing the first line-haul hydrogen locomotive in the region as a means of decarbonizing the freight rail industry.
Massive investments for the development of transportation facilities
Some of the major companies operating in train seat market scenario are Freedman Seating Co., United Safety & Survivability Corp, Grammar AG., Saira Seats, KTK Group, Seats Incorporated, United Safety, and Shanghai Tanda. The industry is likely to witness massive investments that would provide growth opportunities to firms.