Global Train Seat Market to Register Revenue CAGR of 1.9% Over Next 10 Years - Marketresearch.biz

NEW YORK, January 22, 2018 /PRNewswire/ --

MarketResearch.biz announces publication of its recently generated research report titled, "Global Train Seat Market by Type (Regular Seat, Recliner Seat, Folding Seat, and Others), Application, And Region - Global Forecast to 2026.", which offers a holistic view of the global train seat market through systematic segmentation that covers every aspect of the target market. The first five-year cumulative revenue (2017-2021) is projected to be US$ 6,293.5 Mn, which is expected to increase rather significantly over the latter part of the five-year forecast period.

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Among the various modes of transportation, trains are highly preferred owing to superior comfort and cost effectiveness, especially for long distance commuting. In tandem with rapid developments in the railway sector globally, train seat manufacturers are focusing on developing seats designs and raw materials to provide better comfort for train passengers, as these numbers in countries across the globe, including those who commute on a daily basis as well long journey, has been increasing at a rapid and steady pace in the recent past.

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Initiatives by governments of various countries are focused on improvement and further development of rail infrastructure projects involving significantly high investment, is a key factor driving growth of the global train seat market. Introduction of high speed trains, better comfort, convenience, and passenger and travel-related schemes and offers are other factors expected to fuel growth of the global train seat market over the forecast period.

However, high cost of railway infrastructure is one among the various key factors expected to restrain growth of the global train seat market over the forecast period.

Global Train Seat Market: Market Dynamics  

Major factors driving growth of the global train seats market are increasing adoption of multi-functional train seats, increasing investment by governments, and rising demand for high speed trains. Multifunctional train seats are used in premium trains or in trains where pricing is on the relatively higher side. This is mainly done with the objective to provide additional facilities to passengers. Some include charging ports, cup holders, and reading lamps.

However, the cost of train seats with multiple functionalities is comparatively higher than that of regular train seats, which is a major factor hampering growth of the global train seat market. Lack of capital in emerging economies for construction and expansion of existing infrastructure and rail networks is restricting demand for newer trains and in turn for train seats.

Development of more cost-effective train seats in developing economies can create high potential revenue opportunities for players in the global train seat market. Development of cost-effective electronically adjustable or reclining train seats, especially for high-speed or long commutes, is expected to further create significant opportunities for players in the global train seat market.

Global Train Seat Market: Market Forecast 

The comprehensive research report comprises a complete forecast of the global train seat market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global train seat market is expected to expand at a CAGR of 1.9% during the forecast period.

Global Train Seat Market: Segmental Snapshot 

The market report has been segmented on the basis of type, application, and region. The type segment includes regular seat, recliner seat, folding seat, and others. Application segments includes normal train and high-speed train. The regions covered in the analysis are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

According to Train Seat Market infographics published on MarketResearch.Biz,

By type: Regular seat segment is estimated to register a CAGR of over 1.7%, thereby accounting for highest revenue share in the type segment.

By application: Normal train segment is estimated to account for highest revenue share among the application segments, registering a CAGR of over 1.8% over the forecast period.

By region: The market in the Europe accounted for highest revenue share in the global train seat market in 2016, and is expected to record highest CAGR of over 1.8% between 2017 and 2026.

Global Train Seat Market: Competitive Analysis 

The research report on the global train seat market includes profiles of some major companies such as Grammer AG, Franz Kiel GmbH, Compin Group SA, Saira Europe S.p.A, Freedman Seating Company, Inc., BORCAD cz. S.r.o, Magna International Inc., Transcal Ltd., Delta Furniture Ltd., USSC Group, Inc., Shanghai tanda Railway Vehicle Seat System Co., Ltd., GINYO Transport Facilities Co., Ltd., KTK Group Co., Ltd., and Ultimate Group.

The Global Train Seat Market: Global Industry, Size, Share, Growth, Trends, and Forecast, 2017-2026 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global train seat market for 2017-2026.

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