Public transport has been at the forefront of dominance since past several years as a large percentage of population is inclined towards use of public transport services owing to fast life and convenience. Increasing work load and business rips has made it imperative for professionals and workers alike to depend upon public transport systems. With respect to railways, they have proven to be a much convenient option for daily transport. Preference for local trains as a means of transport is gathering steam owing to convenience and comfort that they offer.
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The demand for rail transport is currently witnessing steady rise across regions. Personal income can be a major aspect defining the demand for rail travel, indirectly impacting the railway industry growth. Railway industry has also witnessed various developments with respect to train modifications and ticketing developments to name a few. Moreover, with higher investments in research and development, emergence of high speed trains and hyper speed trains is gaining high traction. For instance, recent innovations include the use of hyper-loops that cover large distances within minutes making it easy for business professionals by reducing their traveling time.
This has indirectly influenced the manufacturers of railways to incorporate effective seating for their customers. Cushioning is a major aspect that drives the demand for railways, as people prefer convenience over cost. This has a major influence on the use of various materials used for train seats. Persistence Market Research has analyzed the future of train seat materials and devised an analytical research report on global train seats materials market wherein it has included the growth trajectory of the market. As per analysis, the global market for train seat materials is estimated to touch a valuation of US$ 200 Mn by end of 2024 and is projected to expand at a steady rate during the forecast period, 2017-2024.
Manufacturers involved in train seat materials market are focusing on introducing advanced materials and brining airline luxury in train seats so as to assist train operators in attracting flight passengers to railway transportation. Moreover, increasing focus of manufacturers on product development for providing seat materials that meet fire safety regulations has also been observed. Key players involved in the global train seat materials market include Magna International, Inc., GRAMMER AG, Freedman Seating Co., Franz Kiel GmbH, Compin-Fainsa, FISA Srl, Kustom Seating Unlimited, Inc., Rescroft Ltd., FENIX Group LLC, FlexoFoam Pvt. Ltd., iFoam Ltd., Delimajaya Group, TransCal, Rojac Urethane Limited and USSC Group, Inc.
Local passenger trains to largely contribute to the growth of the global train seat materials market
As per analysis, the number of local passenger trains is rising at a high rate across regions. This has offered potential growth opportunities for manufacturers of train seats to gain high profit margins. On an average, the life cover of train seats is around 6 years, post which they need to be replaced. This has given fair chance to dealers and the aftermarket to gain high traction. With increasing number of trains and growing preference for efficient cushioning, the demand for seat materials is likely to rise at a steady pace with respect to passenger trains.
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Moreover, prevalence of metros across major cities in developing and developed economies is predicted to fuel the demand for train seat covers. Increasing use of train seat covers in metros is largely pushing the growth of the train seat materials market in local passenger trains. The metros sub category, according to this report, is anticipated to account for a major share and use of train seat materials in metros is poised to rise at a rate higher than 5% during the assessment period.