|03-12-2019 01:22 PM CET - Business, Economy, Finances, Banking & Insurance||
Train Lighting Market is expected to reach USD 370.8 million by 2025 | Key players are Teknoware Oy, OSRAM Sylvania Inc., Eiko Global, LLC, KOITO MANUFACTURING CO.,LTD, General Electric, Nora lighting
Press release from: Research Cosmos
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Train Lighting Market Size and Growth Rate:
The value of the global train lighting market will grow to USD 370.8 Million by 2025 from USD 330.8 Million in 2017 at a CAGR of 1.44% during the forecast period.
Train Lighting Market Overview:
The Train lighting market is expected to experience significant growth throughout the forecast period due to the growth of the rail network worldwide, which in turn indirectly affects the lighting sales of trains. The illumination of the train is one of the important assets of the passengers for their comfort. In addition, the demand for LED lamps is increasing in high-speed trains, subway and special trains due to its low power consumption. Therefore, the demand for LED light directly affects the growth of the market.
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Train Lighting Market Drivers and Restraints:
It is expected that population growth in metropolitan areas and the growing number of office workers, particularly in developing countries, will stimulate the global market during the foreseen period. Railroads are an integral part of the public transport system throughout the world and will play a key role in the future due to the increasing density of the public, urbanization and the changing behavior of travelers around the world.In addition, in urban economies, governments are focusing their efforts on investing large sums of money to promote the development of large-scale transport infrastructure, such as high-speed trains to speed up the transport of passengers.
Government investments in the railways will directly increase the OEM market for train lights. In recent years, intelligent railway stations have emerged in many countries. Governments are striving to renew their rail transport centers to make their stations more attractive. For example, in India, the Ministry of Railways and the Ministry of Urban Development have come together to carry out the mission of the Smart City. In Spain, the International Union of Railways (UIC) and the administrator of the Spanish railway infrastructure, ADIF, have come together to achieve the objective 'Smart station in smart cities'. It is expected that this factor will stimulate the growth of the train lighting market during the forecast period.
Train Lighting Market Geographical Analysis:
The regions of China and Southeast Asia are expected to boost the growth of the railway lighting market, due to the generalization of the railway network in the region. The railway networks of China and India are among the largest rail networks in the world. In India, passenger trains are mainly used as a means of transport over long distances and with the development of the country's infrastructure, the demand for new trains has also increased, which should boost the growth of the market during the forecast period. In addition, Japan should be at the forefront of global growth, with plans for the growth of metro lines and high-speed trains.
The lighting markets of trains in North America and Europe are expected to register healthy growth despite economic uncertainties in the coming years. In addition, positive economic growth forecasts for Mexico and Brazil are expected to be significant due to the improvement of infrastructure in the region.
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Train Lighting Market Key Players:
Teknoware Oy, OSRAM Sylvania Inc., Eiko Global, LLC, KOITO MANUFACTURING CO.,LTD, General Electric, Nora lighting, KST Lighting, LPA Group Plc, LDF-PRO
Train Lighting Market Segmentation
• Interior Train Lighting
• Exterior Train Lighting
• Ordinary Train
• High-speed Train
• North America
• Asia pacific
• Latin America
• Middle East and Africa
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