Active participation of government has helped in developing faster and convenient way of transportation. High speed rail runs faster than the traditional rail traffic. This high speed train operates on standard gauge tracks of continuous welded rail. High speed railway is the most excellent way to expand the form of transportation. It fuels the country’s economic growth and provides economically viable mode of transportation during long run. Railways help to reduce distance between cities and also increase business productivity by providing affordable and convenient way of transportation.
The Train seat market is primarily driven by the increasing government investment. With the increasing government investment they are nurturing convenient and faster modes of transportation globally. Another important driver driving the train seat market is the increasing safety features among passengers in high speed trains. The passengers opt for safety while travelling in high speed train. Thus, increasing safety among passengers is likely to drive the growth of train seats market globally.
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The major restraint of train seat market is greater infrastructure cost. The high speed railways need greater infrastructure which needs greater cost. Lack of proper infrastructure due to high cost leads to introduction of fewer trains, which is likely to limit the demand of train seat market globally. Another important restraint of this market is deficiency of capital in some countries like Brazil, Colombia, Argentina and Malaysia. Introduction of high speed train requires huge capital. The train seat market is directly related to the introduction of new trains. Due to lack of capital these countries delayed their high speed railway project which is acting as major restraint affecting the train seat market’s growth.
The major opportunity of train seat market is the introduction of new trains. This is likely to increase the demand of train seat market during the forecast period. With the increasing demand of trains, the demand for train seats also increasing tremendously. Investment in high speed train projects by government is likely to increase the introduction of train greater than the current rate. Hence it is forecasted that the train seat market is likely to grow rapidly during the forecasted period, creating one of the major opportunities in the market.
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The train seats market is segmented by function type which includes recliner seat, regular seat, folding seats, smart seats and dining seats. Furthermore, the market is segmented by railcar type that includes long-distance car, subway car, and overland car. Based on type of comfort the market is segmented into two types including light comfort and high comfort seats.
Some of the key players in the train seats market are Freedman Seating Co. Ltd. (U.S.), Magna International Inc.(U.S.), Saira Seats (France), Automotive Seating (France), Camira Fabrics Ltd. (U.S.), Transcal Ltd (U.K.), Sears Manufacturing Co. (U.S.), Harita Seating Systems Ltd. (India), C.E White Co. ( U.S), Wise Company Inc. (U.S), Fenix Group LLC (Russia) and USSC Group (U.S.) among others.
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