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.
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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Key Players Operating in Train Lighting Market:
The train lighting market is highly competitive with several global and regional players. Major players are adopting various strategies, such as regional expansion and product portfolio expansion to enhance their position in the market.
Companies are expanding their business across different regions to cater to the demand of consumers. For instance, In March 2019, the Technoware Oy acquired English Invertech Ltd. in order to increase its train and bus product offerings globally. Companies in the market are focusing on consolidation to gain leadership. A few of the key players operating in the global train lighting market are:
- Technoware Oy.
- LPA Group Plc.
- Federal-Mogul Corporation
- OSRAM Sylvania Inc.
- General Electric Company
- KOITO MANUFACTURING CO., LTD.
- Eiko Global, LLC
- KST Lighting
- Nora lighting
- DRaXLMAIER Group
Global Train Lighting Market: Research Scope
Global Train Lighting Market, by Lighting Type
Global Train Lighting Market, by Rolling Stock
- Freight Train
- Metro Train
- Passenger Train
Global Train Lighting Market, by Application
- Ceiling Lights
- Cabin Lights
- Emergency Lights
- Door Lights
- Exterior Lights
- Train Headlights
- Train Tail Lights
- Indicator Lights
Global Train Lighting Market, by Distribution Channel
- Aftermarket Sales
The report on the global train lighting market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on market segments and regions.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.