NEW YORK, March 15, 2022 /PRNewswire/ -- With increasing investments for the development of infrastructure across several countries, the railway segment is also anticipated to witness a boom over the coming years. New trains, metros, high speed rails, and rail coaches are being introduced in many countries, ultimately expected to benefit the market for train seat materials over the coming years. The need to increase comfort and enhance user experience, along with cutting down on travel time, is compelling governments to increasingly invest in their railway networks, thereby increasing demand for seats, seat covers, and related materials.
The global train seat materials market is projected to expand at a CAGR of around 4.5% over the forecast period of 2021-2031.
Key Takeaways from Market Study
- The fabric segment is expected to remain prominent owing to easy availability, cost-effectiveness, and easy processing.
- High speed trains are anticipated to remain one of the fastest-growing segments for the consumption of train seat materials, due to massive investments done across various nations for the establishment of these systems.
- Recliner seats are expected to remain one of the key type for train seat materials, since recliner seats consume more seat cover and foam material for their production.
- East Asia is estimated to remain one of the fastest-growing regions on the back of strengthening of suburban transit railway routes in Japan and South Korea, along with long distance railway network being developed by Mainland China to Russia, North Korea, and Tibet.
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"Demand for train seat materials is projected to witness strong growth during the forecast period owing to the introduction of various new trains, suburban metros, mass rapid transit systems, high speed rails, and several new coaches in existing fleets," says a Persistence Market Research analyst.
Market Landscape Identified to Be Fairly Fragmented
The train seat materials market is expected to be fragmented at the global as well as regional levels. Some of the leading market participants included in this report are Magna International Inc., Grammer AG, Freedman Seating Company, Franz Kiel GmbH, Compin-Fiansa, FISA srl, Kustom Seating Unlimited, Inc., Rescroft Ltd. ELeather, Flexo Foam Pvt. Ltd., Delimajaya Group, iFOAM Ltd., Transcal Company, Rojac Urethane Limited, and United Safety & Survivability Corp., which account for a fair share in the market. To increase market footprint, key players are focusing on research and innovation for the development of products. Further, key players are focusing on collaborations with railway operators to enter into long-term agreements so as to increase the sales of their products.
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Conclusion
Demand for train seat materials is projected to grow at a substantial rate over the coming years owing to increasing demand from the railway sector due to the introduction of several new trains, high speed trains, metros, mass rapid transits, and railway coaches. Polyurethane foam is estimated to account for a significant share of the market. East Asia is projected to remain one of the fastest-growing markets across the globe, especially due to significant development in infrastructure and increasing connectivity between various parts by the railway network in China.
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Want to Know More?
Persistence Market Research, a research and consulting firm, has published a market research report on the train seat materials market that contains global industry analysis of 2016-2020 and opportunity assessment for 2021-2031. The report provides in-depth analysis of the market through different segments, namely, material type, train type, seat type, and region.
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