September 16, 2021
According to the research literature titled ‘North America Train Seat Market Forecast 2027 by Product, Train, End-user, Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with Market Study Report, North America train seat market is projected to reach a valuation of USD 560 million by the end of the forecast period 2021-2027.
As per the report findings, continual rise in the demand for quicker, safer, comfortable transportation due to burgeoning population coupled with sustained investments from public and private companies for railway infrastructure development are catalyzing North America train seat market growth.
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For the record, the United States public transportation industry is a USD 80 billion industry that sees approximately 34 million people passengers each day of a week, indicating a strong demand for maintenance and train seats altogether.
Based on train, the market is categorized into regional/intercity, metro, high speed, and light. Of these, high speed segment is set to exhibit a robust growth rate over the forecast period, creditable to lack of high-speed railway infrastructure across many areas in the U.S. Further, shifting focus of government towards commercialization of high-speed railway sector to fulfill the surging demand for efficient transportation.
Meanwhile, regional/intercity segment is anticipated to capture over 80% of North America train seat industry share by the end of 2027, mainly driven by heightened focus on maintenance and refurbishment activities.
In terms of product type, the market is fragmented into recliner, non-recliner, sleeper/couchette, subway seat, and others. The recliner segment is predicted to expand at 4.5% CAGR through 2027, largely creditable to address the requirements of elderly population, especially those with special needs. These seats provide a more comfortable experience to the commuter as they reduce the vibrations and shocks felt, hence, is also gaining popularity among other age groups.
Considering the end-user scope, the aftermarket segment is anticipated to record 4.7% CAGR over the forecast duration owing to periodic inspection, maintenance, and restoration of train seats.
Elaborating on the competitive landscape, Compin Group SA, KSU N.A. LLC, FISA North America Inc., Franz Kiel Gmbh, USSC Group, Seats Inc., KTK Group Co. Ltd., Grammer AG, and Freedman Seating Company are the major players in the train seat market in North America. These players are developing innovative products to strengthen their presence in the industry.