LONDON, Nov. 10, 2016 /PRNewswire/ -- The global train seat market is expected 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 global train seat market is driven by various factors, including rising investments by governments in several countries for rail projects and increasing demand for high-speed trains and monorails. The high-speed train segment of the market is expected to witness the highest growth during the forecast period.
"The regular seat segment was the largest segment of the train seat market"
The regular seat segment was the largest segment of the market, as a majority of seats in trains are regular seats. Regular seats require less space as compared to other seats; therefore, it is possible to accommodate a significant number of seats inside a single railcar. The lower cost of these seats, as compared to other seat types, make them a better option for rail manufacturers. The smart seat segment is expected to grow at the highest CAGR during the forecast period, owing to the various features associated with smart seats, which include installations, such as audio device, charging ports, and video display to make the journey of commuters more comfortable.
"Asia-Pacific is expected to lead the train seat market during the forecast period"
The Asia-Pacific train seat market comprises China, India, Japan, and South Korea. Asia-Pacific is expected to lead the global train seat market. This can be attributed to the fact that the number of passengers travelling everyday is the highest in Asia-Pacific. Therefore, the number of trains functional in this region is also high, which is expected to fuel the growth of the train seat market in Asia-Pacific.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people.
Break-up of profile of primary participants is given below as:
• By Company Type: Tier 1 – 55 %, Tier 2 – 20%, Tier 3 – 25%
• By Designation: C level – 60%, Director level – 25%, Others – 15%
• By Region: North America – 10%, Europe – 20%, Asia-Pacific – 40%, RoW – 30%
The various key market players profiled in the report are:
1. Faurecia Group (France)
2. Freedman Seating Co. (U.S.)
3. Grammar AG (Germany)
4. Harita Seating System Ltd. (India)
5. Magna International Inc. (Canada)
6. Saira Seats (France)
7. Transcal Ltd. (U.K.)
8. Camira Fabrics Ltd. (U.S.)
9. Sears Manufacturing Company (U.S.)
10. Seats Incorporated (U.S.)
11. The C.E. White Co. (U.S.)
12. Ussc Group (U.S.)
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the global train seat market comprehensively and provides the closest approximations of revenue numbers for the overall market and the subsegments across different verticals and regions.
2. The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to better understand the competitors and gain insights in order to better their position in the business. The competitive landscape section includes competitor ecosystem, new product develpoments, partnerships, and mergers & acquisitions.
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