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The market growth of train seat materials is expected to be driven by the lucrative growth opportunities provided by the introduction of new trains over the forecast period. The government of many countries is dedicated to introducing new trains and high-speed trains, among others, so as to meet the rising demand for high-speed railways. Further, several manufacturers are focused on providing comfortable and durable seats to new trains, consequently boosting their global market presence. In addition to this, the rising preference for safety among passengers is predicted to offer major business opportunities over the forecast period, consequently fueling the market growth of train seat materials.
The market is further influenced by the healthy competition among the key players of the train seat materials industry, like GRAMMER AG (ETR: GMM) and Magna International, Inc. In January 2020, Grammer AG, a specialist in commercial vehicle seats, came into a broad-based contract for the supply of passenger seats for the following generation of French high-speed trains being assembled by Alstom, a train manufacturer. As the passenger seats will require new train seat materials, this is expected to aid the market growth of train seat materials over the forecast period.
Market Analysis by Train Type, Seat, Material, Foam, and Region:
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GRAMMER AG, Magna International, Inc., Freedman Seating Company, Franz Kiel GmbH, FISA Fabbrica Italiana Sedili Autoferroviari Srl, Camira Fabrics Ltd, among others are the key players in the global train seat materials market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.
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