The train seat materials market is projected to grow at a CAGR of ~5% over the forecast period (2019-2029). New railway networks are being established and existing ones are being upgraded for improved efficiency and sustainability. In addition, growing demand for public transport is well complemented by rapid railway infrastructure development across the globe. These factors are projected to fuel the growth of train seat materials market.
Significant Expansion of Rail Industry to Promote the Market Growth
Increasing investments in the railway industry, due to rampant urbanization and growing preference for eco-friendly mode of transportation, has led to surge in the production of rolling stocks. This, in turn, is expected to remain instrumental to the market growth.
Rail transportation is considered as the most efficient mode of transportation, and the railway industry continues to play a crucial role in the economic development of various countries across the globe. Apart from rapid urbanization and growing demand for faster mobility, emergence of technological trends such as European Railway Traffic Management System (ERTMS) has been gradually transforming the railway industry. Manufacturers of train seat materials are thus targeted towards aligning with newer trends through product innovations and development.
Countries such as China, India, Spain, and the U.K. are at the forefront in terms of investments in railway projects. An increase of around 25,000 rail vehicle units is expected in rail network of China between 2015 and 2020. European countries such as Spain and the U.K. are also expected to invest major capital to extend their rail networks. A notable increase in railway expenditure is projected to impact the growth of train seat materials market.
Rising Demand for High-speed Trains Fueling Growth of Train Seat Material Market
Globally, rising demand for high speed rail networks is projected to lay a strong platform for the growth of train seat materials market over the forecast period. High speed railway network is expected to grow substantially in near future, as high speed trains cover longer distances in shorter time period as compared to conventional trains. Some of the key high speed railway projects across the globe are:
Suppliers Switch to Leather Seats to Meet Fire Safety Regulations
Certain stringent fire safety regulations in Europe such as fire testing of materials and components for trains including EN45545 by the European Union and British Standard BS6853 restrict the use of polyester foam and certain fabrics in seat upholstery. Manufacturers are thus switching to leather from conventional train seat fabrics. Moreover, leather train seats are considered to be more hygienic, ergonomic, and aesthetically appealing. All these factors are resulting in increasing preference for leather train seat materials over conventional vinyl train seat materials.
Train Seat Materials Market - Competitive Landscape
The train seat materials market is moderately fragmented and key market vendors held around half of the total market share in 2018. The top 10 market players in the train seat materials market collectively hold 42-47% of the total market share.
Some of the prominent manufacturers operating in the market are Magna International Inc., Grammer Ag, Freedman Seating Co., Franz Kiel GmbH, and Compin–Fainsa.
A comprehensive analysis of the global train seat materials market draws the conclusion that the market is projected to grow substantially during the forecast period. Asia Pacific is expected to account for significant share in the global train seat materials market. Growing investments in the railway industry for high speed railway infrastructure development and for the production of rolling stocks are projected to pave the way for train seat materials market growth. Moreover, airline seat manufacturers are entering the market to compete with leading train seat material manufacturers. For instance, a key manufacturer of the airline industry, Perrone Aerospace, has established a new company Perrone Railway to provide railway seating in high-speed railways.
Global Train Seat Materials Market - Scope of the Report
Persistence Market Research recently published a research study on the train seat materials market, which includes the global industry analysis 2014-2018 and forecast 2019-2029. It offers a detailed value-volume analysis of the Train seat materials market, along with insights via BPS analysis in (US$ Mn), market attractiveness analysis, and Y-o-Y growth on the basis of seat cover material type, foam type, seat type, train type, and region. The volume analysis of the train seat materials market has categorized based on seat cover material type (000’ Sq. Meter), and foam type (Tons), and data has been provided for the historical period ranging from 2014-2018 and forecasted period up to 2029 with 2018 as the base year.
In addition to the quantitative analysis provided by market size estimates and growth trends, the report on the global train seat materials market also provides qualitative analysis in the shape of market dynamics, such as drivers, restraints, trends, opportunities, forecast factors, macroeconomic factors, key success factors, market definition, value chain, and other factors that influence and impact the global train seat materials market.
The report on the global Train seat materials market aims at providing insights about the market size and its associated development for interested stakeholders. Marketing and business intelligence has been facilitated through information based on the competition landscape, business strategies, key demand-side trends, technology development, and a list of market participants with relevant information on train seat materials. PMR has not only presented the research findings, but also added suitable recommendations and market dynamics that can be helpful for market entry, business development, and sustenance in the train seat materials market.
Key Segments of the Global Train seat materials Market
PMR’s study on the Global Train seat materials market is divided into five significant segments by seat cover material type, train type, seat type, foam type, and region. This report offers comprehensive data and information about the important market dynamics and growth parameters related to these categories.
Seat Cover Material
The train seat materials market report provides significant information pertaining to the abovementioned segments in the global train seat materials market. The final part in the market background is included in the forecast factors, which includes the study of factors that are expected to have an impact on the train seat materials market. These factors include demand for advanced materials, technology adoption, and other key insights about the train seat materials market.
A section dedicated to the pricing analysis of train seat materials has been provided on the basis of seat cover material type and foam type on regional fronts, whose weighted average selling price has been computed to arrive at the global average prices. This pricing analysis provides pricing by each configuration. Assumptions and key considerations for the same have also been explained.
The following sections consist of the global train seat materials market analysis by seat cover material type, train type, seat type, foam type, and region/country. The overall analysis of the train seat materials market begins with the overall global market assessment, followed by the analysis of numerous regions citing the macroeconomic environment of each particular region. Each regional section of the report contains qualitative data and quantitative aspects of the global train seat materials market.
In the final section of the report, we have provided a competition analysis with the company market share analysis about train seat materials, and the performance of manufacturers by tiers. In the competition dashboard section of the global train seat materials market report, we have provided a dashboard view of prominent players, along with market share and their key business strategies. This helps clients understand the strategies deployed by market players and allows them to develop effective strategies accordingly.
Key Questions Answered in PMR’s Global Train Seat Materials Market Report