October 15, 2019
According to the latest study titled ‘Global Train Seat Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024’ available with Market Study Report LLC, the global train seat market is estimated to accumulate US $910 million by the year 2024.
To curb the road traffic, governments across the world are aiming to increase train transits. With the surge in the demand for trains, the demand for train seats will also grow tremendously. Furthermore, increase in government investment for infrastructure development, rise in adoption of rail transport and growing concern about travel safety are the factors responsible for propelling the growth of train seat market.
According to the study, the train seat market was worth US $820 million in 2019 and is presumed to register a growth rate of 1.7% over the predicted time period. The study analyzes global train seat market for segmental shares and growth opportunities. It also provides a detailed synopsis of trends, challenges, distribution channels, marketing strategies, consumer spectrum, and drivers impacting the market growth.
Based on type, the train seat market is segmented as recliner seat, folding seat, regular seat, and others. While based on application spectrum, the market is divided into high-speed train and normal train.
Considering the geographical landscape, the train seat industry is fragmented into five main regions. South America consists of Colombia ,Brazil, and Argentina; Germany, Russia, UK, France, and Italy combines to form Europe; Asia Pacific comprises of India, China, Japan, Korea, and Southeast Asia; North America is composed of Canada, Mexico, and US; and Egypt, Nigeria, Saudi Arabia, UAE, and South Africa fall under Middle East & Africa.
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Additionally, Asia Pacific dominated the global train seat market with China alone holding 26.44% consumption share in 2016, while the European Union accounted for 23.6% market share in the same year, claims the report.
The key contenders of train seat market outlined in the report comprise of Compin-Fainsa, Kiel Group, Fenix Group, GRAMMER Rail, FISA srl, Saira Seats, Lazzerini Srl, Borcade, Transcal, Kustom Seating Unlimited, McConnell Seat, USSC Group, Delta Furniture, GINYO Transport, Shanghai Tanda, KTK Group, Jia Yi Seating, and Ultimate.