North America Railway Seats Market to Grow at a CAGR of 5.6% to reach US$ 682.27 million from 2023 to 2030
The North America railway seats market size is expected to grow from US$ 456.84 million in 2023 to US$ 682.27 million by 2030; it is estimated to record a CAGR of 5.6% from 2023 to 2030.
Railway Seats Market Analyst Perspective:
The growing government investment in constructing railway infrastructure to meet the rising transport needs of people is one of the major factors driving the North America railway seats market. Also, as a train is a more environment-friendly, time-saving, and comfortable mode of transport, passenger traffic is rising, boosting the growth of the North America railway seats market. In addition, with the increase in population in North America, road traffic is also increasing, which is raising the need for a cheaper, sustainable, and faster mode of transport like railways. Because of this, various companies are developing new trains in the region. Due to the rising number of new train production, the demand for seats that provide comfort and safety to passengers is increasing, creating an opportunity for the growth of the North America railway seats market. Moreover, the growing refurbishment of the train interior is expected to raise the demand for comfortable railway seats, propelling the market growth during the forecast period.
Market Overview:
Railway seats allow the passenger to travel comfortably to their destination. Railway seats are one of the most vital parts of rail interiors, as along with comfort, they also provide safety to passengers while traveling. In North American trains, different types of seats are provided for different classes. Comfortable seats with ample legroom and reclining to relax are provided for coach class, and seats with more amenities, including extra legroom and a wide and comfortable seat, are provided for business class. Also, the seats with adjustable headrests, lumbar support, footrests, and handy individual outlets to charge devices are provided for first class. In addition, there are also accessible seats, particularly for passengers with disabilities and mobility impairments.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
North America Railway Seats Market: Strategic Insights
Market Size Value in US$ 456.84 million in 2023 Market Size Value by US$ 682.27 million by 2030 Growth rate CAGR of 5.6% from 2023 to 2030 Forecast Period 2023-2030 Base Year 2023
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
North America Railway Seats Market: Strategic Insights
Market Size Value in | US$ 456.84 million in 2023 |
Market Size Value by | US$ 682.27 million by 2030 |
Growth rate | CAGR of 5.6% from 2023 to 2030 |
Forecast Period | 2023-2030 |
Base Year | 2023 |
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to AnalystMarket Driver:
Growing Investments in Railway Infrastructure Driving North America Railway Seats Market
Growing population and increasing road traffic are raising the demand for rail transport in North American countries. Governments of various countries in North America are investing in improving the railway infrastructure in the region. In October 2020, the US Federal Railroad Administration (FRA) announced that they had selected 50 rail projects in 29 states of the US to provide them funding under the Fiscal Year 2020 Consolidated Rail Infrastructure and Safety Improvements (CRISI) Programme. Under this initiative, the projects will receive a total investment of US$ 320.6 million to improve rail safety, efficiency, and reliability of freight and intercity passenger services. In November 2021, the US government announced that it had passed a US$ 1 trillion infrastructure bill. Under this, the government will work on upgrading America’s roads, railways, and other transportation infrastructure. Also, out of this, the government designated US$ 66 billion to improve the rail system. In June 2021, the government of Canada announced that they had allocated around US$ 19 million for 147 projects as part of the Rail Safety Improvement Programme. With this, the government will focus on improving railway safety along with enhancing public confidence in the nation’s rail transportation system. Thus, the growing investments by the government in the railway infrastructure by improving railway safety will help attract more passengers toward rail transport, which drives the North America railway seats market growth.
Railway Seats Market Segmental Analysis:
Based on train type, the railway seats market size is bifurcated into:
- Metro/Subway
- Monorail
- Suburban
- Trams.
The metro/subway segment held the largest North America railway seats market share in 2022. The metro/subway segment of the railway seats market is witnessing significant growth due to increasing urbanization and growing demand for efficient public transportation systems. As more cities invest in metro/subway infrastructure, comfortable and durable seating solutions become paramount. The driving factor for this segment is the rising urban population seeking rapid transit options that alleviate traffic congestion and reduce travel times, which will further boost the North America railway seats market growth during the forecast period.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Railway Seats Market Regional Analysis:
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
The North America railway seats market is broadly segmented into the US, Canada, and Mexico. The US held the largest North America railway seats market share in 2022. According to the International Union of Railways (UIC), in the second half of 2022, the railway sector of the US witnessed a tremendous recovery in the rail passenger traffic post-lockdown. Because of the rise in passenger traffic, the government of the US is increasing its investment in improving the railway infrastructure. In November 2021, the government of the US announced that it had passed a US$ 1 trillion infrastructure bill. Out of this, the government has designated US$ 66 billion to improve the rail system. In addition, various companies in the country are also working on developing environment-friendly trains to further reduce CO2 emissions. 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. This new battery train is being developed to meet the requirements of the American market. Furthermore, to provide more comfort and safety to the passenger, various rail companies are refurbishing the interior of the old trains. In July 2022, Metrolink announced its first refurbished train car is into service in California, offering passengers a more comfortable and safe experience. This train car is the first of the 50 cars that will be renovated in the near future. The train cars consist of improved features, including vinyl seating, non-carpeted flooring, enhanced air filtration, and UV lighting for bacteria, air pollutants, and virus protection. Thus, the growing government investment in railway infrastructure, production of new trains, and increasing refurbishment of old trains are contributing to the growing railway seats market size in the US.
Key Player Analysis:
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 a few North America railway seats market players covered in the report. GRAMMER AG and Freedman Seating Co are the top two North America railway seats market players owing to the diversified product portfolio offered.
Recent Developments:
Inorganic and organic strategies such as mergers and acquisitions are highly adopted by companies operating in the North America railway seats market. A few recent key market developments are listed below:
- In 2021, Compin USA announced that they will locate a manufacturing plant in the Wayland facility to build seats for transportation industry projects, including Amtrak’s next-generation high-speed trainsets that are being manufactured by Alstom in Hornell.
- In 2019, MBTA launched a new rail car with freedman seats. Under a US$ 118 million contract, CAF USA Inc. provided 24 low-floor light-rail vehicles. The company produced shells and frames at its Spain facility and completed final assembly and testing at its Elmira, New York, plant.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Train Type, and Seat Type
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Railway Seats Market – By Train Type
1.3.2 Railway Seats Market – By Seat Type
1.3.3 Railway Seats Market- By Region
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Railway Seats Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Railway Seats Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Investments in Railway Infrastructure
5.1.2 Rising Preference for Railway as Mode of Transportation
5.2 Market Restraints
5.2.1 High Capital Cost
5.3 Market Opportunities
5.3.1 Growing Production of New Trains
5.4 Future Trends
5.4.1 Increasing Interior Refurbishment of Train
5.5 Impact Analysis of Drivers and Restraints
6. Railway Seats Market – North America Analysis
6.1 North America: Railway Seats Market Overview
6.2 North America: Railway Seats Market – Revenue and Forecast to 2028 (US$ Million)
6.3 Market Positioning –Key Players
7. Railway Seats Market Analysis – By Train Type
7.1 Overview
7.2 Railway Seats Market, By Train Type (2022 and 2030)
7.3 Metro/Subway
7.3.1 Overview
7.3.2 Metro/Subway: Railway Seats Market – Revenue, and Forecast to 2030 (US$ Million)
7.4 Monorail
7.4.1 Overview
7.4.2 Monorail: Railway Seats Market – Revenue, and Forecast to 2030 (US$ Million)
7.5 Suburban
7.5.1 Overview
7.5.2 Suburban: Railway Seats Market – Revenue, and Forecast to 2030 (US$ Million)
7.6 Trams
7.6.1 Overview
7.6.2 Trams: Railway Seats Market – Revenue, and Forecast to 2030 (US$ Million)
8. Railway Seats Market Analysis – By Seat Type
8.1 Overview
8.2 Railway Seats Market, By Seat Type (2022 and 2030)
8.3 Regular
8.3.1 Overview
8.3.2 Regular: Railway Seats Market- Revenue and Forecast to 2030 (US$ Million)
8.4 Recliner
8.4.1 Overview
8.4.2 Recliner: Railway Seats Market- Revenue and Forecast to 2030 (US$ Million)
8.5 Folding
8.5.1 Overview
8.5.2 Folding: Railway Seats Market- Revenue and Forecast to 2030 (US$ Million)
8.6 Dining
8.6.1 Overview
8.6.2 Dining: Railway Seats Market – Revenue, and Forecast to 2030 (US$ Million)
8.7 Smart
8.7.1 Overview
8.7.2 Smart: Railway Seats Market – Revenue, and Forecast to 2030 (US$ Million)
9. North America Railway Seats Market – Regional Analysis
9.1 Overview
9.1.1 North America Railway Seats Market, Revenue and Forecast To 2030
9.1.1.1 US Railway Seats Market, Revenue and Forecast to 2030
9.1.1.1.1 US Railway Seats Market Breakdown, By Train Type
9.1.1.1.2 US Railway Seats Market Breakdown, By Seat Type
9.1.1.2 Canada Railway Seats Market, Revenue and Forecast to 2030
9.1.1.2.1 Canada Railway Seats Market Breakdown, By Train Type
9.1.1.2.2 Canada Railway Seats Market Breakdown, By Seat Type
9.1.1.3 Mexico Railway Seats Market, Revenue and Forecast to 2030
9.1.1.3.1 Mexico Railway Seats Market Breakdown, By Train Type
9.1.1.3.2 Mexico Railway Seats Market Breakdown, By Seat Type
10. Impact of COVID-19 Pandemic on North America Railway Seats Market
10.1 North America: Impact Assessment of Covid-19 Pandemic
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.2 New Product Development
11.3 Merger and Acquisition
12. Company Profiles
12.1 Freedman Seating Co
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Seats Inc
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Franz Kiel GmbH
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 American Seating Inc
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 United Safety & Survivability Corp
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 PowerRail Holdings Inc
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Baultar Concept Inc
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Compin Group SA
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Guangdong Huatie Tongda High-speed Railway Equipment Corp
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Transcal Holdings Ltd
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
12.11 Grammer AG
12.11.1 Key Facts
12.11.2 Business Description
12.11.3 Products and Services
12.11.4 Financial Overview
12.11.5 SWOT Analysis
12.11.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. Railway Seats Market – Revenue and Forecast to 2030 (US$ Million)
Table 2. North America Railway Seats Market, Revenue and Forecast To 2030 – By Country (US$ Million)
Table 3. US Railway Seats Market, Revenue and Forecast to 2030 – By Train Type (US$ Million)
Table 4. US Railway Seats Market, Revenue and Forecast to 2030 – By Seat Type (US$ Million)
Table 5. Canada Railway Seats Market, Revenue and Forecast to 2030 – By Train Type (US$ Million)
Table 6. Canada Railway Seats Market, Revenue and Forecast to 2030 – By Seat Type (US$ Million)
Table 7. Mexico Railway Seats Market, Revenue and Forecast to 2030 – By Train Type (US$ Million)
Table 8. Mexico Railway Seats Market, Revenue and Forecast to 2030 – By Seat Type (US$ Million)
Table 9. List of Abbreviation
LIST OF FIGURES
Figure 1. Railway Seats Market Segmentation
Figure 2. Railway Seats Market Segmentation – By Geography
Figure 3. North America Railway Seats Market Overview
Figure 4. Metro/Subway Segment held the Largest Share of Railway Seats Market in 2022
Figure 5. US held the Largest Share of Railway Seats Market
Figure 6. North America: PEST Analysis
Figure 7. Expert Opinion
Figure 8. Railway Seats Market Impact Analysis of Drivers and Restraints
Figure 9. Railway Seats Market – Revenue and Forecast to 2030 (US$ Million)
Figure 10. Railway Seats Market Revenue Share, By Train Type (2022 and 2030)
Figure 11. Metro/Subway: Railway Seats Market – Revenue, and Forecast to 2030 (US$ Million)
Figure 12. Monorail: Railway Seats Market – Revenue, and Forecast to 2030 (US$ Million)
Figure 13. Suburban: Railway Seats Market – Revenue, and Forecast to 2030 (US$ Million)
Figure 14. Trams: Railway Seats Market – Revenue, and Forecast to 2030 (US$ Million)
Figure 15. Railway Seats Market Revenue Share, By Seat Type (2022 and 2030)
Figure 16. Regular: Railway Seats Market- Revenue and Forecast to 2030 (US$ Million)
Figure 17. Recliner: Railway Seats Market- Revenue and Forecast to 2030 (US$ Million)
Figure 18. Folding: Railway Seats Market- Revenue and Forecast to 2030 (US$ Million)
Figure 19. Dining: Railway Seats Market – Revenue, and Forecast to 2030 (US$ Million)
Figure 20. Smart: Railway Seats Market – Revenue, and Forecast to 2030 (US$ Million)
Figure 21. North America Railway Seats Market Breakdown, by Country, 2022 & 2030 (%)
Figure 22. US Railway Seats Market, Revenue and Forecast to 2030 (US$ Million)
Figure 23. Canada Railway Seats Market, Revenue and Forecast to 2030 (US$ Million)
Figure 24. Mexico Railway Seats Market, Revenue and Forecast to 2030 (US$ Million)
Figure 25. Impact of Covid-19 Pandemic in North America Markets
The List of Companies - North America Railway Seats Market
- Magna International Inc
- Freedman Seating Co
- Camira Group Inc
- Seats Inc
- Franz Kiel GmbH
- Lantal Textiles Inc
- American Seating Inc
- United Safety & Survivability Corp
- PowerRail Holdings Inc
- Baultar Concept Inc
- Compin Group SA
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.