PUNE, India, March 27, 2018 /PRNewswire/ --
According to a new market research report "Train Lighting Market by Technology (Fluorescent, Halogen, LED, Xenon), Position (Interior, Exterior), Rolling Stock (Diesel, Electric, DMU, EMU, Metros, Light Rail, Passenger & Freight Wagon), Application, Component, and Region - Global Forecast to 2025", published by MarketsandMarkets™, 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.
Browse 110 market data Tables and 46 Figures spread through 153 Pages and in-depth TOC on "Train Lighting Market"
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The Train Lighting Market is projected to grow due to the increasing demand for comfort and luxury features inside the rolling stock, government mandates for train lighting, and increase in different railway projects for metro train, high-speed train, and refurbished train.
LED technology is estimated to have the fastest growth in Train Lighting Market
LED technology is projected to grow at the fastest growth rate during the forecast period from 2017 to 2025. Railway associations around the globe are installing LED lights in trains, owing to its energy saving and environmental friendly benefits. Also, LEDs are vastly used in rolling stock such as metros, DMU, EMU, and light rail. Due to the increase in demand for these rolling stock and with the increase in interior lighting applications, the market for LED lights is projected to increase. With increase in projects for high-speed trains and upcoming projects such as hyperloop are estimated as some factors influencing the future LED demand.
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Cabin lighting is projected to have the largest demand in Train Lighting applications
The cabin lights segment is projected to be the largest segment of the Train Lighting Market, by application. Cabin lights provide balanced illumination in the driver cabin and help avoid glare on the windscreen and LCD screens of the computers. Hence, the demand for these lights is directly proportional to the demand for locomotives in different countries.
Infrastructure development and government mandates for lighting units would drive the Asia Oceania Train Lighting Market
The Asia Oceania region comprises of emerging economies such as China and India along with developed nations such as Japan. The rail networks of China and India are among the biggest rail networks in the world. China has 250,000 km of track length, and India has 100,000 km of track length. Japan has a track length of 27,268 km. Generally, passenger trains are the mainly used mode of transportation in India, China, and South Korea; whereas, high-speed rail and metro train are the most preferred modes of transportation in Japan. Hence, owing to the increase in usage of different types of rolling stock the lighting requirement differs, which has propelled the market growth in this region.
The key companies profiled in the study are Toshiba (Japan), General Electric (US), Hitachi (Japan), Koito (Japan), Federal-Mogul (US), Osram (Germany), Grupo Antolin (Spain), Dräxlmaier (Germany), and Teknoware (Finland).
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