The Simulated Train Market to Register Substantial Growth owing to Increasing Urbanization

 

Simulated Train Market
Simulated Train Market 

The simulated train market involves products that simulate real train experiences such as simulated train wheels, carriages, coaches etc. used majorly for entertainment purposes in amusement parks, family entertainment centers, children's play areas and at residential places. Simulated trains provide an immersive experience of riding real trains to children and adults alike without the difficulties associated with actual train travels such as long travel durations, following train schedules and safety issues involved. They are designed keeping ergonomics and safety of riders in mind. Key players operating in the Simulated Train Market are Arkema, Solvay S.A., Daikin Industries ltd, Zhuzhou Hongda Polymer Materials Co. Ltd., Shanghai 3F New Materials Company Limited, Kureha Corporation, Quadrant Engineering Plastics Products, Shanghai Ofluorine Chemical Technology Co. ltd., Dyneon GmbH, and Zhejiang Fotech International Co. Ltd.

The Global simulated train market is estimated to be valued at US$ 4.26 Mn in 2024 and is expected to exhibit a CAGR of 6.0% over the forecast period 2024 to 2031.

Key Takeaways
Key players: Key players operating in the simulated train market are Arkema, Solvay S.A., Daikin Industries ltd, Zhuzhou Hongda Polymer Materials Co. Ltd., Shanghai 3F New Materials Company Limited, Kureha Corporation, Quadrant Engineering Plastics Products, Shanghai Ofluorine Chemical Technology Co. ltd., Dyneon GmbH, and Zhejiang Fotech International Co. Ltd.
Growing demand: With increasing urbanization and disposable incomes, the demand for family entertainment centers and amusement parks is on the rise thereby augmenting the demand for simulated train rides.
Technological advancement: incorporation of technologies such as virtual reality and augmented reality in simulated train rides is enhancing the experience for riders.

Market trends
Customization of rides- Manufacturers are focusing on customization of simulated train rides to suit different age-groups and preferences of customers.
Sustainability- Players are developing bio-based and recyclable materials for trains to meet sustainability goals.

Market Opportunities
Untapped regional markets- markets in Asia Pacific and Middle East regions offer significant growth opportunities.
Simulation of high-speed trains- advanced simulated rides emulating high-speed bullet trains can capture new customer segments.

Impact of COVID-19 on Simulated Train Market growth

The COVID-19 pandemic has negatively impacted the growth of the simulated train market globally in 2020. During the pandemic crisis, countries worldwide imposed complete lockdowns which caused disruptions in industrial and commercial activities. This led to disruptions in global supply chains which impacted the supply of raw materials for the market. In addition, transport restrictions imposed by governments hampered logistic operations and transport of finished goods. These factors affected market demand during the initial months of 2020. However, post pandemic gradual lifting of lockdowns helped revive market activities.

The market witnessed some revenue decline in 2020 compared to previous years but is expected to recover at a steady pace post pandemic. Simulated train market players are betting on growth opportunities arising from increased government investments in infrastructure development projects focusing on rail networks. Adoption of advanced simulation technologies will also drive growth. Further, rising focus on digital transformation initiatives by transportation companies focusing on remote operations is likely to boost demand for simulated training systems. Overall, while COVID-19 posed short term challenges, the market is anticipated to steadily move towards pre-pandemic levels by 2022 driven by initiatives supporting infrastructure modernization.

Geographical concentration of Simulated Train Market

The simulated train market in terms of revenue is currently concentrated in the Asia Pacific region. This is primarily attributed to large presence of transportation OEMs and simulation technology providers in countries like China, India and Japan. Asia Pacific accounts for over 40% share of the global market revenue currently led by China which is a major hub for rail infrastructure development activities. North America and Western Europe are other prominent regional markets driven by technology adoption.

Fastest growing region for Simulated Train Market

The Asia Pacific region, especially China and India, is anticipated to emerge as the fastest growing regional market for simulated trains during the forecast period from 2024 to 2030. This high growth will be fuelled by rising government investments towards developing and modernizing rail transportation facilities across emerging economies. In addition, increasing use of digital technologies in training operations is expected to drive regional market demand. Rapid industrialization and continued urbanization will further boost the need for advanced simulation systems in Asia Pacific, making it the dynamic growth leader for the simulated train market globally.

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