The global Cable Cars & Ropeways Market Growing Demand |...

The global Cable Cars & Ropeways Market Growing Demand

نشر بتاريخ 2023-11-02 06:52:21

1كيلو بايت

Market Overview:
Cable cars and ropeways provide efficient mobility for travelers in mountainous regions and tourist destinations. They offer panoramic scenic views during transportation and require less construction compared to roads. Cable cars help transport passengers safely in areas prone to landslides or avalanches.

Market key trends:
One of the key trends fueling cable cars & ropeways market growth is increasing investments in mountain tourism and recreational activities. Various countries in Asia Pacific such as India, Japan, and South Korea are developing their mountain regions as tourist hotspots. This is prompting governments and private entities to invest heavily in improving connectivity via cable cars and ropeways. For instance, India's Himachal Pradesh state raised investments to upgrade its existing infrastructure and add new projects, while Japan invested in rebuilding several ropeway routes post 2011 tsunami.

Segment Analysis

The Global Cable Cars & Ropeways Market is divided into chair lifts, funitel, cabin lift, gondola lift and combo lift segments. Among these, the gondola lift segment dominates and accounted for over 30% share of the overall market in 2022. Gondola lifts have higher passenger carrying capacity compared to other segments and are better suited for transporting large volumes of people over long distances. They provide smooth, safe and cost-effective transportation for places with difficult terrains such as mountains. This makes gondola lifts a popular option for ski resorts, tourist places and urban transport systems.

Key Takeaways

The global cable cars & ropeways market size is expected to witness high growth, exhibiting a CAGR of 10% over the forecast period 2023-2030, due to increasing demand for cable cars from the tourism and transportation industry.

Europe currently dominates the market and accounts for over 35% share, led by strong presence of cable car infrastructure in countries like Switzerland, Italy, France and Austria. However, Asia Pacific is expected to emerge as the fastest growing regional market, driven by ongoing infrastructure development projects and rising tourism in countries such as China, India and Japan.

Key players operating in the cable cars & ropeways market are Damodar Ropeways & Infra Ltd., MND Group, Doppelmayr/Garaventa Group, Conveyor & Ropeway Services Pvt. Ltd., Leitner S.p.A, Nippon Cable Co., Ltd., POMA Group, and Bartholet Maschinenbau AG (BMF). The market is concentrated in nature with top players accounting for over 60% share. Companies are focusing on new product development, mergers & acquisitions and geographical expansion to consolidate their market position.