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Asia Pacific Train Seat Market Forecast 2027 By Train (High-speed, Regional/Intercity, Light, Metro), By Product (Luxury/Premium, Non-recliner, Recliner, Sleeper/Couchette, Subway seats), By End-use Sector (OEM, Aftermarket), Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share
Published Date: August 2021 | Publisher: Graphical Research Report ID: GR1922 | Delivery : PDF  Request Free Sample

Asia Pacific Train Seat Market size crossed USD 535 million in 2020 and is set to observe around 4.9% growth rate between 2021 and 2027. The rising prevalence of faster and convenient modes of transportation coupled with growing government investments will augment the market revenue.

Asia Pacific Train Seat Market

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Seats used in railways are available in both cushioned and non-cushioned forms. The application of these seats depends upon the type of train, nevertheless, they offer significant convenience and comfort to passengers during the journey. Rapid urbanization across the globe, expanding train infrastructure in cities, and increasing productivity in fast-developing urban areas are positively influencing the development of Asia Pacific train seat market. In addition, the increasing need to move large volumes of passengers across densely populated areas is further driving the need for train seats.

Substantial government investments and active participation in rail network development projects are some of the key factors impelling the market expansion. For instance, in November 2020, China’s National Development and Reform Committee (NDRC) unveiled a plan to invest around USD 12.6 billion in high-speed rail projects to connect various cities of the nation.

Volatility in raw material costs in conjunction with high capital investments associated with railway transportation will hamper the industry growth. In addition, the prevailing COVID-19 pandemic is further disrupting the industrial supply chain, thereby posing threat to the business profitability of product manufacturers.

Asia Pacific Market, By Train

Asia Pacific Train Seat Market, By Train

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The regional and intercity trains acquired more than 65% Asia Pacific train seat market share in 2020, due to the rising need for repair, refurbishment, and maintenance activities in large number of aging trains. Furthermore, the intensifying importance of customer conveyance, product innovation, the advent of developed seating technologies, and increasing production capabilities are significantly propelling the market demand. Moreover, upgradation of existing railway infrastructure will create lucrative growth opportunities for the market.

Asia Pacific Market, By Product

The non-recliner train seats will generate USD 225 million revenue in the market by 2027. The shifting focus toward commuter seating, especially in light and metro trains, is enabling product penetration. The wide adoption of metro and light train transport in urban cities will bolster the demand for train seats.

Asia Pacific Market, By Country

China train seat market is poised to expand at 5% CAGR through 2027. The rapid transit rail network expansion in the fast-evolving nation along with other countries including Japan, India, and South Korea will contribute significantly to the growing regional market size.

The increasing passengers preferring train as a mode of commute due to its cost efficiency and environmental & economic benefits in high-traffic areas will likely fuel the market expansion. Additionally, government initiatives that support the transportation needs of the growing regional population are estimated to further propel product consumption.

Competitive Industry Landscape

Some of the key players in the Asia Pacific train seat market include Transcal, FISA Srl, Lazzerini Srl, McConnell Seat Australia Pty Ltd., Shanghai TanDa Railway Vehicle Seat System Co., Ltd., Compin-Fainsa, Tan Chong International Limited, Toyota Boshoku Corporation, Magna International Inc., Shiroki Corporation, and BRIDE Co., Ltd., among others.

Market participants are highly focused on strategic initiatives, such as mergers, acquisitions, partnerships, joint ventures, geographical expansion, and production capacity expansion, to gain a competitive advantage and improve business profitability.
 

Frequently Asked Question(FAQ) :

The market size for train seat in Asia Pacific surpassed USD 535 million in 2020 and will grow at around 4.9% CAGR up to 2027 with booming urbanization and increasing demand for fast and convenient transportation.
The regional and intercity train seat segment garnered over 65% share of the APAC market in 2020 and will grow with the demand for refurbishment, repair and maintenance activities.
The non-recliner train seats segment in the APAC market is forecast to account for USD 225 million by 2027 due to the trend for metro and light train transport in urban cities.
The market share for train seat in is projected to grow at a robust CAGR of 5% through 2027 owing to the expansion of rapid transit rail network.

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