Enjoy complimentary customisation on priority with our Enterprise License!
The Train Seating Market size is forecast to increase by USD 384.95 million, at a CAGR of 5.43% between 2023 and 2028. The market growth analysis depends on several factors such as the increasing rail passenger traffic, the growing rolling stock across the globe, and the rising demand for train seating due to the modernization of railway infrastructure.
The report includes a comprehensive outlook on the market, offering forecasts for the industry segmented by Product, which comprises regular, recliner, folding and others. Additionally, it categorizes Type into passenger train, metro, high-speed, and others, and covers Regions, including APAC, Europe, North America, Middle East and Africa, and South America. The market analysis and report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.
For More Highlights About this Report, Download Free Sample in a Minute
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Growing rolling stock across the globe is the key factor driving market growth. Rolling stock contains rapid transit vehicles like high-speed trains and light rail vehicles, railroad cars such as passenger coaches, and locomotives for the movement of passenger coaches. The growth of these types of rolling stock will increase the demand for tain seating during the forecast period.
Additionally, European countries such as Germany, France, and Italy are expected to witness a higher demand for train seatings because they are the key hubs for major high-speed rail body manufacturers such as Alstom, Siemens, and Stadler. In APAC, China and Japan, which operated the highest and third-highest number of high-speed trains, are also projecting a high demand for train settings. Hence, growing rolling stock across the globe is driving market growth during the forecast period.
The adoption of lightweight materials in train seating manufacturing is the primary trend shaping market growth. The market trends and analysis towards the use of lightweight materials, notably advanced composites, represent an intended change towards more significant fuel efficiency and sustainability. Manufacturers are increasingly using materials such as carbon fiber-reinforced composites and high-strength alloys to lower the overall weight of train seat components.
For example, seats manufactured from modern composite materials can greatly reduce the general weight of train carriages. The use of lightweight materials also contributes to the trend of creating more environmentally friendly and energy-efficient rail systems, promoting a greener path and thereby driving the growth of the market during the forecast period.
The decline in growth of the high-speed rail market in the US is a significant challenge that affects market growth. The investment in high-speed rail infrastructure in the US is currently lower when compared with other countries like China, Spain, and France. The US is amongst the market leaders in the global freight rail market; however, it lags in high-speed rail. The insufficient government subsidies for the operation, maintenance, and development of passenger trains in the US make the operating cost of high-speed rail exceed the fare revenue.
Moreover, in the US, the decline in the high-speed rail market is expected to reflect on the global train seating market. Train seating market players are expected to face lower demand in the US. However, the demand for train seating will be limited in the US from light rail transit vehicles. Hence, these factors may impede the growth of the market during the forecast period.
The market research report includes the adoption lifecycle of the market growth and forecasting, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market research and growth report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The regular segment is estimated to witness significant growth during the forecast period. Regular train seating continues to be a fundamental and widely embraced offering in the market, serving as the predominant choice for a myriad of railway uses. Its growth is propelled by the persistent need for conventional seating arrangements across diverse train classes, providing passengers with comfortable and economical options.
Get a glance at the market contribution of various segments Download the PDF Sample
The regular segment was the largest segment and was valued at USD 573.33 million in 2018. With the evolution and modernization of rail networks, there is an increasing demand for standard train seats, especially in developing economies where cost-effectiveness and utility play pivotal roles. The diversity and reliability of standard train seating contribute significantly to its enduring market prevalence, meeting the preferences of a broad spectrum of passengers from different locations. Thus, such factors will drive the growth of the regular segment, which, in turn, is expected to propel the growth of the market during the forecast period.
For more insights on the market share of various regions Download PDF Sample now!
APAC is estimated to contribute 42% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Growing demand for train seating in the APAC region is propelled by the modernization of existing railway networks and the development of new urban transit systems. The imperative for efficient transportation in the face of substantial urbanization fuels the expansion of high-speed railway networks in countries like China, Japan, the Philippines, Thailand, Australia, Malaysia, and Vietnam. Notably, major business hubs like Sydney and Melbourne in Australia are investing in extensive railway networks to accommodate population growth, making China a key market for train seating. Hence, such factors are expected to drive market growth in this region during the forecast period.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest market growth and trends opportunities from 2018 to 2028.
Train Seating Market Scope |
|
Report Coverage |
Details |
Page number |
161 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.43% |
Market Growth 2024-2028 |
USD 384.95 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.53 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 42% |
Key countries |
US, China, India, Japan, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Baultar, Bharat Seats Ltd., Camira, Compin Fainsa, Freedman Seating Co., KIEL SITZE, Magna International Inc., McConnell Seats, Minda Industries Ltd., MUTA SRL, Ningbo Jifeng Auto Parts Co. Ltd., Quantum Seating Ltd., Rescroft Ltd., Rojac Urethane Ltd., Seats Inc., Sheela Foam Ltd., Stellantis NV, Transcal Ltd., VIA Rail Canada Inc., and United Safety and Survivability Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.