Train Seats Market worth over $2bn by 2027
Published Date: April 29, 2021 Authors: Kiran Pulidindi, Akshay Prakash
Train Seats Market Size is set to surpass USD 2 billion by 2027, according to a new research report by Global Market Insights, Inc.
Moving significant volumes of passengers across large and dense cities have increased the scope of new trains across the world. In 2021, Virgin Trains USA along with Brightline West began the construction of Victorville high-speed line. The 270 km high-speed line estimates a funding of USD 8 billion that will connect Victorville, California to Las Vegas. Further, trains have a lower impact on environment as compared to other modes of transport owing to reduced gas emissions and low energy consumption; thus, reducing green-house emissions.
Volatile raw material prices along with supply chain disruptions due to COVID-19 pandemic may hinder the market growth impelled by temporary closure of manufacturing facilities, limited workforce, and strict regulations on the mobility to limit the adverse impact of the pandemic. Nevertheless, expanding opportunities for urban trains will drive product demand in the sector over the coming years.
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High-speed train seats market is expected to show a reasonable growth of 4.5% through 2027. Improving high-speed rail infrastructure across developed and developing economies will proliferate seat demand in the industry. For instance, in December 2020, China commissioned a new Yinxi High-Speed rail line. The 618 km line will connect Yinchuan and Xi’an and serve 20 stations. These factors will have an opportunistic line for product demand in the sector during the forecast period.
Comfort & adjustability feature of recliner seats will spur the market expansion
Recliner seats are anticipated to witness a significant growth during the forecast timeline led by their comfort and adjustability features. Recliner seats maintain good posture, offer supreme comfort, and support passenger safety and comfort for extended hours of travel; thus, increasing focus on passenger seating conveyance solutions is a major factor for the segment growth.
Browse key industry insights spread across 165 pages with 187 market data tables & 23 figures & charts from the report, “Train Seats 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” in detail along with the table of contents:
Upgrading & refurbishment activities to foster product demand in the aftermarket
The aftermarket segment is estimated to attain a CAGR of 4.5% by 2027. The rising necessity for maintenance repair and refurbishment to enhance the consumer travel experience in conventional trains will surge the product demand in the aftermarket segment. Further, increasing concerns regarding safety & comfort coupled with technological advancements to enhance train travel experience will have an opportunistic line for product demand in the sector during the forecast timeframe.
Rising demand from rapid & light trains will enable Europe to hold a considerable share
Europe train seats market will account for 30% of revenue share by 2027. The rising demand for rapid and light trains in the region will boost the regional product consumption. For instance, in 2020, Vinci Construction was awarded over USD 230 million contract for the construction of over 6.5 km long viaduct for Grand Paris Express metro. These factors will foresee a strong growth in the regional industry during the forecast timeline.
Product innovations and mergers & acquisitions to increase the market foothold
Key participants operating in the train seats market are Freedman Seating Co., Grammar AG, KTK Group, Saira Seats, Transcal Ltd., GINYO Transport, Seats Incorporated, USSC Group, Franz Kiel GmbH, and FISA Srl. These companies primarily focus on product innovations, joint ventures, partnerships, and mergers & acquisitions to augment their capabilities and proliferate their market progression.
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