Selbyville, Delaware, April 29, 2021 (GLOBE NEWSWIRE) --
Global Market Insights, Inc. has recently added a new report on train seat market which estimates the global market valuation for train seat will cross US$ 2 billion by 2026. Increasing government investments and initiatives toward train manufacturing will prosper the product demand.
Rising government initiatives to increase investments in train manufacturing will augment the demand for seats in the industry over the coming years. For instance, in July 2020, The Indian Ministry of Railways decided to form a special cell i.e., Project Development Cell (PDC) in the railway board to increase investments inflows of Foreign Direct Investment (FDI).
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The proliferating metro expansion across large and dense cities will have an opportunistic line for product demand in the segment over the coming years. For instance, in May 2019, Australia opened its first metro line, a 23 km section of the Sydney Northwest Metro that connects Chatswood and Tallawong. Sydney Metro is the biggest public transport project in Australia, which will have 31 metro stations and over 66 km of new metro rail by 2024.
Sleeper/Couchette seats are anticipated to witness a significant growth in train seat market during the forecast period. This is owing to their growing usage in high-speed trains, such as CRH1E, CRH2E, and CRH5E, that operate between Beijing-Guangzhou and Beijing-Shanghai.
OEM end-users are likely to hold over 45% share in train seat market. This is because OEMs are engaged in partnerships or multi-year contracts with manufacturers & suppliers for the steady supply of products. In addition, they incorporate several collaborative procedures focusing on research & development to manufacture customized seats to improve consumer safety, comfort, and conveyance during travel. Further, the introduction of new trains across various categories and particularly in high-speed rail will positively influence product penetration in the market over the forecast period.
North America train seat market will witness a growth rate of around 4.5% by 2027. Increasing investments in high-speed rail infrastructure will propel the regional train seats industry growth. For instance, in 2020, Federal Railroad Administration (FRA) approved environmental clearance for Texas Central high-speed railroad project. The 390-km line will link Houston and Dallas in under 90 minutes, with trains departing every 30 minutes during peak hours. The USD 20-billion Texas Central Railway project is expected to begin construction in 2021. These factors will induce a significant growth potential in the regional industry landscape over the coming years.
Some major findings of the train seat market report include:
- Growing demand from new trains will positively influence market growth.
- Rapid expansion of urban train infrastructure will positively influence product demand in the industry.
- Major players comprise Freedman Seating Co., Grammar AG, KTK Group, Saira Seats, Transcal Ltd., GINYO Transport, Seats Incorporated, USSC Group, Franz Kiel GmbH, and FISA Srl.
- Key strategies implemented by major train seat industry participants to strengthen their competitive edge in the market include product innovations, joint ventures, partnerships, and mergers & acquisitions.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Train seat market 360° synopsis, 2017 – 2027
2.1.1 Business trends
2.1.2 Train trends
2.1.3 Product trends
2.1.4 End-user trends
2.1.5 Regional trends
Chapter 3 Train Seats Industry Insights
3.1 Industry segmentation
3.2 Industry landscape, 2017 – 2027
3.2.1 COVID-19 impact on industry
3.3 Industry ecosystem analysis
3.3.1 Profit margin
3.3.2 Value addition
3.3.3 Distribution channel analysis
3.3.4 Vendor matrix
3.3.4.1 List of key raw material suppliers
3.3.4.2 List of key manufacturers/distributors
3.3.4.3 List of key/potential customers
3.4 Innovation & sustainability
3.4.1 Patent analysis
3.4.2 Production process
3.4.3 Future trends
3.5 Industry impact forces
3.5.1 Growth driver
3.5.1.1 Rising investment in High speed trains
3.5.1.2 Increasing demand for rapid urban transits
3.5.1.3 Rising expenditure towards rail infrastructure
3.5.2 Industry pitfalls & challenges
3.5.2.1 Fluctuating raw material prices
3.6 Regulatory trends
3.6.1 U.S.
3.6.2 Europe
3.6.3 China
3.7 Growth potential analysis
3.8 Regional price trends
3.8.1 Cost structure analysis
3.8.1.1 R&D cost
3.8.1.2 Manufacturing & equipment cost
3.8.1.3 Raw end-user cost
3.8.1.4 Distribution cost
3.8.1.5 Operating cost
3.8.1.6 Miscellaneous cost
3.9 Competitive landscape, 2020
3.9.1 Company market share analysis, 2020
3.9.2 Strategic dashboard
3.10 Porter's analysis
3.10.1 Supplier power
3.10.2 Buyer power
3.10.3 Threat of new entrants
3.10.4 Industry rivalry
3.10.5 Threat of substitutes
3.11 PESTEL analysis
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.