Train Exterior Lighting Market: Introduction
Train exterior lighting is the lighting medium which are used to enhance the vision of the train and its driver along the tracks. These train exterior lightings are extremely important for the effective operation of the train, as it gives the signal of approaching or departing train in night, dark tunnels or conditions of low visibility such as fog and haze. There have been many instances of loss of life and property owing to faulty train exterior lighting resulting in train collisions and accidents. Hence, the government authorities and railway officials have made strict rules which are to be adhered by the manufacturing companies ensuring proper safety of rail traffic. Moreover, the train exterior lighting has evolved with technology and solutions such as LED and Xenon have made strong footprint in the global market. The important function of signaling the presence of trains on the tracks in motion as well as when stationary has been driving the global train exterior lighting market.
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Train Exterior Lighting Market: Dynamics
The rail industry is estimated to directly drive the train exterior lighting market. Stringent rules and regulation by the government and the ruling authorities for the developed and the developing countries regarding the safety of the passenger and the goods transported is one of the prominent drivers of train exterior lighting global market in the near future. There is a successive growth in the use of public transport since past years and it is expected to continue the same pattern in the near future. Increasing consumer inclination towards safety and security is expected to drive the train exterior lighting global market over the estimated period of time. Train exterior lightings have the prominent characteristic of being energy efficient and cost effective and this is expected to fuel its growth in the global market in the near future. The most significant driver for the rail industry is the increasing consumer preference to use railways as it is one of the most economical and eco-friendly sources of transportation available in the global market.
The increasing demand for various type of lighting in locomotives such as train increases the sales of different type LED lights such as organic LED (OLED) which directly effects on the growth of train exterior lighting market. The LED train exterior lighting has various advantages such as long lifetime, high efficiency/low energy consumption, fast response (enhanced safety) and health friendly/ecofriendly. These LED train exterior lighting are prominently used in indicators and warning train exterior lighting in the global market. This trend for the use of such energy efficient train exterior lighting will directly impact the target product in the global as well as the regional markets. The growing research and development for newer technology have always been acting as a bridge to the railway sector’s future, and the coming next half century won’t be any different. Moreover, with the advent of technologies such as the metros, bullet trains and hyperloop, the manufacturers are able to target the consumer’ inclination towards public transportation besides providing them with an alternative which is far more reasonable and safe in global as well as the regional markets.
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Train Exterior Lighting Market: Segmentation
The train exterior lighting market can be segmented on the basis of Product Type, Train Type, Sales Channel, and Function-
The train exterior lighting market can be segmented on the basis of product type as:
The train exterior lighting market can be segmented on the basis of train type as:
The train exterior lighting market can be segmented on the basis of sales channel as:
The train exterior lighting market can be segmented on the basis of function as:
Train Exterior Lighting Global Market: Regional Outlook:
Presently, the Asia Pacific region including India, ASEAN and South Korea is among the prominent markets for the railway industry. Sales in Latin America and Eastern Europe is expected to increase significantly over the forecast period due to the upsurge in various rail projects regarding the production of new trains in the region. Growing demand for high speed rail network is anticipated to drive the demand for train exterior lighting in Western Europe and China. The aftermarket in Western Europe and North America is also estimated to create lucrative growth opportunities for train exterior lighting over the forecast period.
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Train Exterior Lighting Global Market: Key Players
Key players in the global market of Train Exterior Lighting are:
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Regional analysis includes:
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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