Cable Cars and Ropeways Market 2022
The cable cars and ropeways market is estimated to grow at a rate of 8.4% over the next 10 years, reaching a total value of more than US$ 3 billion by 2026. One reason for this growth is the installation of new gondola lifts, which are valued at over 1.6 billion by 2018. This growth is expected to continue as more and more people are looking for efficient and reliable transportation methods.
The cable cars and ropeways market is growing with the increasing demand for transportation. Cable cars are used to connect different points in a city or region, while ropeways are used to transport goods over long distances. The cable cars and ropeways market has seen significant growth in recent years due to the increase in tourism and the need for efficient transportation systems.
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The Asia-Pacific region is expected to be the fastest-growing region during the forecast period. The growth of the cable cars and ropeways market can be attributed to the increase in tourism and the need for efficient transportation systems. Cable cars are being increasingly used as an alternative mode of transportation in congested cities, and they offer an environment-friendly option for commuting. Ropeways are being used extensively for transporting goods over long distances, owing to their efficiency and low cost of operation.
Demand for cable-propelled transit continues to gain traction as one of the most efficient transport systems in the world. Technology behind the functioning of cable cars and ropeways has also drawn attention of several industrial verticals. Bidding for modernized urban transport systems, government and local administrative authorities are also increasing investments on faster commute facilities such as cable cars and ropeways.
Key Companies-
- Doppelmayr/Garaventa Group
- Leitner Group
- Leitner-Poma of America, Inc.
- MND Group
- Bartholet Maschinenbau AG (BMF)
- Nippon Cable Co., Ltd.
- CONVEYOR & ROPEWAY SERVICES PVT. LTD.
- Damodar Ropeways & Infra Ltd.
- STM TELEFERIK
- CCM FINOTELLO SRL
- Others.
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According to the report, titled “Cable Cars and Ropeways Market: Global Industry Analysis and Forecast, 2016 – 2024,” the global market for cable cars and ropeways is presently valued at closed to US$ 1.9 Bn. Costly transportation in hilly areas, poor accessibility to high altitude regions, growing awareness for “green transportation” and safety concerns, are some of the macroeconomic factors compiled in the report that are acting as proponents of cable cars and ropeways.
Global Cable Cars & Ropeways Market: Report Highlights
- In 2016, over 103 chairlifts were sold across the globe, bringing in more than US$ 600 Mn in revenues
- Demand for gondola lifts to gain traction, procuring over 60% of global cable cars and ropeways revenues through 2024
- Almost every other cable car and ropeway system sold in the world will be used for tourism
- By 2024-end, more than one-third of global revenues will be emanating for sales of cable cars and ropeways for public transportation
- The overall cable cars and ropeways market will remain dominated by aftermarket MRO services, while installation services will register an impressive 11.9% CAGR, in terms of revenues
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