Published Date: 2021-06-14
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European Train Seat Market size is estimated to reach USD 840.5 million by 2027, according to a latest forecast report by Graphical Research. The key growth enabling factor of European industry includes the proliferating demand for urban transit.
The European rail transportation is responsible for carrying an immense number of passengers. The regional railway sector has witnessed significant growth in the number of people using rail transportation in the past decades. According to Eurostat, 8 billion people traveled through the national railway network in EU-27 in 2017. Moreover, favoring policies by regulators and policymakers are further expanding the railway network across Europe. Several countries are adopting investment plans to develop their railway sector. For instance, in 2016, Italy announced a ten-year project underpinned by strategic investments of USD 110.7 billion with USD 81.9 billion designated for infrastructure development. Such trends are presenting lucrative opportunities for seat manufacturers in Europe.
Even though the industry is expanding at a considerable rate, challenges such as fluctuations in raw material prices may affect the business profitability of seat manufacturers. Additionally, the Europe train seat industry has sustained heavy losses due to the ongoing COVID-19 pandemic. Factors such as restricted public movement and stalled manufacturing operations in many severely affected countries led to a downfall in the market revenue in 2020. However, the industry is showcasing signs of recovery in the light of resuming public movement and on-track economic growth.
Browse detailed statistical insights from the report, “Europe Train Seat Market Forecast 2027 By End-user (Aftermarket, OEM), By Train (High Speed, Regional/Intercity, Light, Metro), By Product (Recliner, Non-recliner, Subway Seats, Luxury/Premium, Sleeper/Couchette), 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/1861/europe-train-seat-market
The high-speed train segment will witness robust growth and reflect around 4.5% CAGR in terms of volume. Increasing investments in the high-speed railway infrastructure are mainly driven by benefits to the society as it saves time for passengers, especially with the fast-paced lifestyle and high levels of comfort & security. High-speed trains can contribute well to the congested urban railway networks and can reinforce the socio-economic dynamism. These factors will positively affect the growth of high-speed trains, driving the demand for seats over the forecast timeline.
The recliner seat segment will observe around 3% CAGR in the market volume, majorly owing to the superior characteristics of the product. The excellent comfort offered by the recliner seats during long-distance travels, adjustability, and high safety are some of the factors significantly contributing to the market growth. In addition, the rising preference for railway transportation as a transit mode will further catalyze the consumption of recliner seats.
The OEM division in the end-user segment is anticipated to account for a significant portion in the assessment timeframe. The sector is likely to thrive on the booming investments, rising focus on the expansion of railway networks in several European countries, and shifting preference toward green transportation modes. The developing rail network is certain to present growth prospects to the industry players in the upcoming years.
The market for train seat in European research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilotons & revenue in USD Million from 2016 to 2027 for the following segments:
Europe Market, By Train
Europe Market, By Product
Europe Market, By End-user
The above information has been provided for the following countries:
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