Impact Of Covid-19 Outbreak On Train Lighting Market

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Train Lighting Market – Internal and External Lighting Components of Trains
  • Trains are one of the highly preferred modes of commute, and also a rapidly evolving technology
  • The locomotive manufacturing industry, during the recent past, experienced noteworthy growth in the trend of consolidation. This was owing to the escalating competition in the market that enforced the market players to reposition themselves either by exiting the industry or by upgrading their position with the help of external growth.
  • This competitive pressure realized by locomotive manufacturers across the globe was one of the key factors contributing to the increase in development of new products and integrated solutions for the locomotive industry
  • The dynamic nature of the locomotive manufacturing industry is, therefore, anticipated to significantly increase the demand for train lightings, thus driving its market during the forecast period
Rise in Government Investments to Drive Global Train Lighting Market
  • The railway sector significantly contributes to the global public transportation system, and owing to this, governments across the globe are making substantial investment in enhancement of the locomotive transportation. Furthermore, bolstering urban population and transforming traveling preferences worldwide are expected to increase the demand for faster public transport, further encouraging investments in large-scale development of rail transport infrastructure, including bullet trains and high speed trains. This, in turn, is expected to drive the train lighting market during the forecast period.
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Emergence of Smart Trains to Create Growth Opportunity for Train Lighting Market
  • In the next few years, the advent of advanced connectivity technology is expected to significantly influence the locomotive transportation industry, resulting in production of trains integrated with advanced technology, thereby generating demand for train lights compatible with future technologies
Relatively Longer Production Cycle of Trains Might Hinder Train Lighting Market
  • Production of trains is a long-term process, and with the rapid pace in technological advancement it might become challenging for the companies in the train lighting value chain to simultaneously cope up with technological advancement, pilot deployment, and real time production of trains. This is likely to mitigate the market growth during the forecast period. However, the impact of this restraint is expected to remain moderately low.
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North America to Hold Leading Share of Global Train Lighting Market
  • Geographically, the global train lighting market can be divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America
  • Country-level analysis of North America region features the U.S., Canada, and Rest of North America. Analysis and forecast of the train lighting market in Europe includes markets across the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes the train lighting market analysis and forecast of GCC countries, South Africa, and Rest of Middle East & Africa. The train lighting market in South America is segmented into Brazil, and Rest of South America.
  • Asia Pacific dominated the market in 2018 due to advancements in the railway technology and presence of widespread railway network which has increased global sales of train lighting
  • The market in Asia Pacific is projected to grow at a fastest CAGR, followed by North America and Europe during the forecast period. Rapid development in metro rail technology and high speed train projects in Japan are the key factors contributing to the growth of the market in Asia Pacific region.

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