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Train Lighting Market Segmented By light type that is Fluorescent, Halogen, LED, Xenon, also by train type that is Very High Speed Train, Mainline train, Metro Train, Freight Train, Special Train having its application that is Interior, Exterior.
Train Lighting Market is expected to grow with significant rate throughout the forecast period owing to increase in railway network across the globe which in turn indirectly affect the sales of train lights. Train lighting is one of the important passenger amenities that provide passenger comfort. Train lighting are used for various purpose in both internal and external applications such as cabin interior, finding track path, etc.
There are also several type of train lighting such as Fluorescent, Halogen, LED and Xenon. Moreover, now a days, the demand for LED lights is increasing in the high speed trains, metro trains and special trains due to its low power consumption feature. Thus, the demand for LED light directly affect the growth of train lighting market.
The growing population in metropolitan areas and increasing number of office workers, particularly in developing countries, are projected to drive the global market during the forecast period. Railways are an integral part of the public transportation system across the globe and will play a key role in future due to increasing public density, urbanization and changing travel behaviour across the world.
Moreover, in urban economies, governments are focusing on investing hefty money to promote the introduction of large-scale transport infrastructure, such as high speed rails and bullet trains, to make passenger transport faster. Government investments on railways will directly increase the OEM market for train lights.
Over the last few years, smart railway stations have cropped up in many countries. Governments are focusing on renovating their rail transport hubs for making their railway stations more attractive.
For instance, in India, the Ministry of Railway and Ministry of Urban Development have teamed up to achieve the smart city mission and in Spain, International Union of Railways (UIC) and Spanish rail infrastructure manager ADIF have come together to achieve the goal of ‘Smart station in Smart Cities. This factor is expected to boost the growth of train lighting market throughout the forecast period.
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China, South East Asia & Pacific regions are expected to fuel the growth of train lighting Market, owing to widespread of railway network in the region. The rail networks of China and India are among the biggest railway networks in the world.
In India, passenger train are mainly used mode of transportation for long distance and with the developing infrastructure of the country, the demand for new trains also increased which in turn, is expected to fuel the growth of the train lighting market over the forecast period. Moreover, Japan is expected to be on the forefront of global growth, with growing metro-line and high speed train projects
North America and Europe train lighting markets are expected to register healthy growth despite economic uncertainties in the upcoming years. Furthermore, affirmative economic growth expectation from Mexico and Brazil are projected for a significant growth due to improving infrastructure of the region
Examples of some of the market participants in the global Train Lighting Market, identified across the value chain include:
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