North America Railway Seats Market is expected to reach US$ 682.27 million by 2030
Growing Production of New Trains to Boost North America Railway Seats Market Growth During 2022–2030
According to a new market study titled "North America Railway Seats Market Forecast to 2030 – COVID-19 Impact and Regional Analysis – by Train Type and Seat Type ," the market is expected to grow from US$ 456.84 million in 2023 to US$ 682.27 million by 2030; it is estimated to grow at a CAGR of 5.6% from 2022 to 2030. The report provides trends prevailing in the market, along with drivers and restraints.
The increasing population in North America propels the demand for trains. Also, due to the growing road traffic in the region, people are inclined toward rail transport. To cater to the rising demand, various train manufacturers in the region are producing more trains. In February 2023, Stadler announced that it had signed a contract with the Utah State University (USU) and the ASPIRE Engineering Research Centre to develop a battery-driven passenger train based on the FLIRT Akku concept. The new battery train is being developed to meet the requirements of the American market. In June 2023, the government of Canada announced the launch of the first hydrogen-powered train in Quebec. The new Coradia iLint train is powered by a hydrogen fuel cell that will provide electrical energy by combining hydrogen stored in tanks on the roof and oxygen present in the ambient air. As only 1% of North America's train lines are electrified, the new Coradia iLint train can be an environment-friendly alternative to diesel trains. Furthermore, to produce more trains, various global train producers are opening train production plants in countries in North America. In March 2023, Siemens announced the construction of a US$ 220 million factory in North Carolina to produce train coaches. The building of this new facility will help the company easily serve customers on East Coast. This new facility is expected to be operational in 2024. The growing production of trains will raise the demand for comfortable and relaxing train seats, which would create an opportunity for the North America railway seats market growth during the forecast period.
Freedman Seating Co, Seats Inc, Franz Kiel GmbH, American Seating Inc, United Safety & Survivability Corp, PowerRail Holdings Inc, Baultar Concept Inc, Compin Group SA, Guangdong Huatie Tongda High-speed Railway Equipment Corp, Transcal Holdings Ltd, and Grammer AG are key North America railway seats market players profiled in the research study. The mentioned North America railway seats market players adopt organic growth strategies, such as product launches and expansions, to sustain their position in the market.
North America Railway Seats Market Revenue and Forecast to 2030 (US$ Million)
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The North America railway seats market is segmented into train type, seat type, and country. Based on train type, the North America railway seats market is segmented into metro/subway, monorail, suburban, and trams. In terms of seat type, the North America railway seats market is categorized into regular, recliner, folding, dining, and smart. Based on country, the market is segmented into the US, Canada, and Mexico.
The suburban segment of the railway seats market is gaining traction due to the rising demand for commuter trains and suburban rail networks connecting urban centers to surrounding residential areas. Due to the increasing population in the suburbs, people are seeking affordable housing options away from crowded cities; thus, such a population shift drives the demand for suburban trains. Suburban rail systems offer a convenient and time-saving mode of transportation for daily commuters, attracting more passengers to opt for train travel over other alternatives, such as road-based transportation. Suburban trains often cater to longer journeys, and thus, the emphasis on compact designs, ample legroom, and sufficient padding becomes crucial to ensure passenger comfort during extended travel times. Also, using durable and easy-to-clean materials is essential to meet the demands of high passenger traffic and frequent usage in suburban transit settings. Manufacturers catering to the suburban segment have the opportunity to develop innovative seating designs that prioritize comfort and passenger well-being, thereby attracting more customers in this growing market.
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