The global passenger coach market is anticipated to grow at a CAGR of 4.5% during the forecast period (2022-2028). The major factor expected to drive the market growth is the increasing number of travelers, increasing disposable income of consumers, and shifting focus toward comfortable long-distance travel. In addition, increasing tourism globally coupled with the government and private sectors focusing on the tourism sector and the luxurious facilities such as reclining berths, advanced entertainment features, and spacious interiors will further support the global passenger coach market to grow further during the forecast period. The growing demand for technologically advanced luxury coaches across the globe, increasing demand for comfortable domestic travel, and rising number of tour operations are further boosting the growth of the global passenger coach market during the forecast period.
Some major players in the market include AB Volvo, Daimler AG, and BYD Co., Ltd., among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, new product launches, and collaborations, to stay competitive in the market. For instance, in September 2021, Indian Railways announced the launch of its new AC 3-tier economy coaches with 83 berths which are 11 berths more than 3 tier AC coaches. Further, it is added that the price of the AC 3-tier economy coach is 8% lesser than the 3-tier AC coach coupled with the improved features and facilities for the passengers. It is also added that 50 new economy coaches manufactured by rail coach factory are ready to offer their services in mail/express trains over different zones.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Coach Type
- By Seating Capacity
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape– AB Volvo, Daimler AG, and BYD Co., Ltd., among others.
A full report Passenger Coach Market of is available at: https://orionmarketreports.com/passenger-coach-market/107093/
Global Passenger Coach Market Report by Segment
By Coach Type
- Slipper
- 3rd AC
- 3rd Economy AC
- 2nd AC
- 1st AC
- 2nd Seating (2S)
- Chair Car (CC)
By Seating Capacity
- 25 Passengers and Below
- 26 to 35 Passengers
- 36 to 75 Passengers
- 75 Passengers and Above
By Application
- Passenger Transport
- School Coach
- Tourism Coach
- Others
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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