The report “Train Seat Market by Train Type (High Speed, Passenger, Light, Tram, Monorail), Seat Type (Regular, Recliner, Folding, Dining, Smart), Rail Car Type (Overland, Subway, Long Distance) – Global Forecast to 2022”, The global train seat market is projected to grow from USD 938.2 Million in 2015 to USD 1,047.7 Million by 2022, at a CAGR of 1.58% from 2016 to 2022.
The growth of the market can be attributed to the fact that government in several countries across the globe are actively involved in offering faster and convenient modes of transportation by investing in high-speed rail and light rail projects. Furthermore, rail transport is increasingly being adopted by customers across the globe, owing to its advantages over other modes of transport, in terms with cost and capacity.
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The passenger train seat segment led the global train seat market
The passenger train seat segment led the global train seat market. The growth of this segment is driven by the increasing usage of passenger trains by travelers in several countries across the globe. The high carrying capacity of and safety associated with passenger trains make them one of the popular modes of transport among travelers.
The high-speed train segment expected to witness highest growth
The high-speed train segment is expected to witness highest growth during the forecast period. In recent years, a large number of high-speed train projects were announced in various countries across the globe, due to the rising demand for fast as well as economic medium of transportation. The monorail segment is also projected to witness considerable growth during the forecast period. The undertaking of several monorail and metro projects in the coming years is expected to aid the growth of this segment.
Asia-Pacific is expected to be the largest market for train seats, globally
Asia-Pacific is expected to be the largest market for train seats during the forecast period. The requirement of an effective rail transportation system is significantly high in Asia-Pacific, due to the rising population and the consequently increasing requirement of an efficient transport network for this population. The train seat market in North America is also expected to witness significant growth, as there are various light train and monorail projects planned to be undertaken in the region in the near future.
Some of the key players in the global train seat market covered in this report are Faurecia Automotive Seating (France), Fenix Group LLC (Russia), Freedman Seating Co. (U.S.), Grammar AG (Germany), Harita Seating System Ltd. (India), Magna International Inc. (Canada), Saira Seats (France), Transcal Ltd. (U.K.), Camira Fabrics Ltd. (U.S.), Sears Manufacturing Company (U.S.), Seats Incorporated (U.S.), The C.E. White Co. (U.S.), USSC Group (U.S.).