APAC Train Seat Market size to hit $775 Mn by 2027
Published Date: August 25, 2021 Request a sample
APAC Train Seat Market size is poised to surpass USD 775 million by 2027, according to a latest forecast report by Graphical Research. The increasing need for rapid urban transit and the expansion of rail infrastructure are anticipated to propel product demand during the forecast years. Asia Pacific accounts for a significant portion of the global train seat industry. A large volume of passengers in densely populated cities across the region uses rail transportation, enabling market growth. For instance, in 2019, around 3.6 billion people traveled by train, which was an increase of over 8% compared to the previous year. In addition, due to alleviated carbon emissions, trains have a significantly low environmental impact than the other methods of transportation. This factor will fuel the adoption of the rail network as a preferred mode of commute. Supply chain disturbances due to the outbreak of the COVID-19 pandemic are posing challenges to the market size expansion. The temporary closure of manufacturing facilities and suspension of public transportation including railways caused a severe toll on the market revenue generation in 2020. Nevertheless, resuming operations across the region and the high recovery rate expected by countries, such as China, India, and South Korea, are likely to support market development in the coming years. Browse detailed statistical insights from the report, “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” along with the table of contents (ToC) @ https://www.graphicalresearch.com/industry-insights/1922/asia-pacific-train-seat-market Expanding high-speed rail infrastructure in developed and emerging nations is significantly contributing to the growing market size. Due to this factor, the Asia Pacific market from high-speed train is anticipated to showcase a 5.7% CAGR during the projection timeline. In December 2020, China started a new high-speed rail line, comprising a 618 km track length and connecting Xi’an & Yinchuan to serve 20 stations. Such initiatives will positively influence product consumption, thereby, driving train seat industry size during the assessment period. Adjustability and comfort are some of the factors expected to stimulate the growth of recliner seats. The segment is projected to showcase around 5% CAGR from 2021 to 2027. Recliner seats are highly preferred by train passengers as they help in maintaining a good posture, offer passenger safety, and supreme comfort during long travels. Therefore, shifting focus toward comfortable seating solutions is catalyzing the adoption of recliner seats, thus driving the overall market size. The OEM segment is estimated to generate around USD 430 million by 2027. The positive outlook of manufacturing new trains and rapid adoption of high-speed trains in several parts of the region are key factors bolstering the demand for train seats during the forecast period. Additionally, supply agreements with manufacturers and aftermarket services are certain to further reinforce the progress of the APAC market. The APAC train seat market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in thousand units and revenue in USD million from 2016 to 2027 for the following segments: Asia Pacific Market, By Train Asia Pacific Market, By Product Asia Pacific Market, By End-use Sector The above information has been provided for the following countries: