The global Cable Cars & Ropeways Market is estimated to be valued at US$ 4.5 Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Cable cars and ropeways provide transportation services over long or steep stretches that are otherwise difficult to access by roads. They help transport people and goods using wheels running along cables.

Market key trends:

Growing tourism activities in mountain regions is expected to be a major trend fueling the growth of the cable cars & ropeways market. Many countries worldwide are investing in cable car infrastructure development projects to boost their tourism industries by providing easy access to scenic mountain regions and locales. For instance, Peru inaugurated the longest single span cable car in South America connecting Cusco city to Moray village in May 2022. This is expected to boost tourism in the Sacred Valley region of Peru.

Segment Analysis

The global cable cars & ropeways market is dominated by the aerial tramway segment. Aerial tramways are preferred for transporting people over long distances across difficult terrains. They offer smooth, comfortable, and panoramic riding experience even in mountainous regions. Their growing adoption in tourism applications, such as connecting tourist spots, mountain stations, and resorts, is contributing to the segment's leading position.

Key Takeaways

The Global Cable Cars & Ropeways Market Share is expected to witness high growth, exhibiting a CAGR of 11% over the forecast period, due to increasing investments in mountain and urban cable car infrastructure around the world.

Regional analysis

Europe accounts for the largest share in the cable cars & ropeways market currently. Countries like Switzerland, Austria, Italy, France have strong presence of cable car projects owing to presence of Alps mountain range. Asia Pacific region is expected to grow at the highest CAGR during the forecast period with increasing focus on boosting tourism and public transport infrastructure in mountainous regions of countries like India, Indonesia and China.

Key players

Key players operating in the cable cars & ropeways market are Doppelmayr/Garaventa Group, Leitner Group, POMA Group, MND Group, Bartholet Maschinenbau AG, Nippon Cable, CONVEYOR & ROPEWAY SERVICES, Damodar Ropeways & Infra. The market leaders are focusing on geographical expansion and development of innovative cable car technologies for efficient transport solutions.

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