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Cable Car & Ropeways Market Analysis | CMI

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Cable Car & Ropeways Market Analysis | CMI

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  1. Coherent Market Insights Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ COVID-19 Impact Tracker

  2. CABLE CAR & ROPEWAYS MARKET ANALYSIS • Cable Cars & Ropeways Market, By Product Type (Aerial Tramways, Funicular Ropeways, Chair Lifts (Fixed Grip, Detachable), Gondola Lifts (Monocable, Bi-cable, Tricable), Surface Lifts, Material Ropeways, Inclined Lifts), By End Use (Tourism, Public Transport, Material handling (Mining, Others), by Category (Installation Service, MRO Service), and by Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027. • The global cable cars & ropeways market was accounted for US$ 3,667.2 Million in terms of value in 2019 and is expected to grow at a CAGR of 11.90% during the forecast period (2019-2027)

  3. Market Drivers • Growing adoption of in urban transport is expected to drive growth of the global Cable Cars & Ropeways Market during the forecast period Continuous growth in urban population had led to unavailability of land. According to Coherent Market Insights’ analysis, around 70% of urban population travels daily, necessitating efficient mass transit infrastructure. Governments in various countries are focused on fast and energy efficient modes of transportation. Although metros and subways are efficient ways of transportation, the cost of construction related to metros is significantly high and is not viable at every place. Hence, governments and transport authorities are shifting towards cable propelled transit (CPT) for an effective and smoother transportation system. Moreover, growing snow tourism and material handling have increased the adoption of cable cars. For instance, In 2014, Bolivia inaugurated the first phase of its ‘la-paz-telefericos’ project, which is a 10 km gondola cable car project installed with an investment of approx. US$ 234 Mn. The 2nd phase of this project is initiated, making it the world’s largest CPT with an investment of around US$ 450 Mn. Hence, increasing adoption of cable cars in urban transport is expected to boost the global cable cars & ropeway market growth in the near future.

  4. Increasing safety and reliability of ropeways is expected to propel the global cable cars & ropeways market over the forecast period Since aerial tramways and cable cars are elevated over 300 feet above ground, which several hundred thousand feet in mountains, stringent safety norms are imposed on installer and operator. Moreover, Europe accounts for the major market share and thus, maximum number of cable car system follows ‘European Parliament and Council Directive 2000/9/EC relating to cableway installations designed to carry passengers’ nor. This was replaced by Regulation (EU) 2016/424 of the European Parliament and of the Council of March 9, 2016, on cableway installations and repealing Directive 2000/9/EC and has been applicable since April 21, 2018. Moreover, key companies in the market are investing significantly for research and development of new technologies, in order to increase capacity of cable cars, while assuring the safety, high speed, and smooth operations. These efforts have expanded the service life of ropeways, which in turn, is expected to support the market growth over the forecast period.

  5. Statistics: • Europe region dominated the global cable cars & ropeways market in 2019, accounting for 51.1% share in terms of value, followed by North America and Asia Pacific, respectively.

  6. Market Restraints • Prolonged payback time period of cable cars is expected to restrain growth of the global cable cars & ropeways market over the forecast period Cable cars are manufactured and installed with some high quality material and cutting-edge technology. This makes them significantly expensive. Moreover, the location, passenger capacity, support-free span, type of lift, and other varied factors make cable cars expensive. In fact, certain cable car projects may require million to billion dollars of investment and also requires timely maintenance, which increase the overall cost. The investment money is recovered albeit at a slow rate and thus increases its payback time. Therefore, prolonged payback is expected to hamper the market growth in the near future. • Complicated structural technology required for ropeway construction is expected to hinder the global cable cars & ropeways market growth during the forecast period Installation of cable car necessitates high-end mechanical and structural engineering since the cabins need to be hauled over a wide span of supports. Moreover, cable car systems are designed in a manner that they should not be affected by bad weather conditions and must be stable at high wind speeds. Hence, cable cars are designed and manufactured with considerations to all parameters that can affect performance and safety of the system.

  7. Market Opportunities • Market Consolidation opportunities for key players Presence of limited players in the global cable cars & ropeways market has presented the opportunity market consolidation. Emergence of local players can pose a threat to established players, as new entrants can effectively increase their market share by offering systems at relatively low prices. Moreover, intense competition among manufacturers may compel market players to enhance technology and offer better and cost-effective cable cars and ropeways. Asia and African countries can be potential markets as they are expected to provide major growth opportunities and high profitability, owing to low material and labor cost.

  8. Development of new technology is expected to present major growth opportunities Over the years, cable car technology has evolved significantly albeit at slow rate. It took over a century for cable cars to establish good market reputation. Since cable cars can provide numerous advantages, high demand is expected in the near future, provided there are improvements in technology for enhancement of efficiency of cable cars. Ropeways are driven by a cable hauled by a bull-wheel (huge Pulley), which is powered by either a motor or gasoline engine. The propagation of cable over a large route needs high power source, which eventually increases power consumption. Thus, reducing power consumption can prove major market opportunities for key companies.

  9. Market Trends • Gondola lifts to witness significant demand in the near future Gondola lifts offer various advantages such as high speed and enhance passenger capacity, which is why it has witness significant demand in the recent past. Moreover, gondola lifts with glass cabins are widely preferred and installed at tourism destinations with an aim to attract tourists. Various manufacturers in the industry are focused on providing customized products, owing to high demand for gondola lifts. Moreover, major manufacturers can develop energy efficient gondola lifts and focus on building and all possible amenities inside the cabins. • Growing preference for cable cars in urban transport is a major trend in the market Previously, cable cars were predominantly used in ski industry though they have gain significant traction due to high demand for tourism and urban transport applications. The cable cars can offer possible solution to traffic congestion in major cities and direct interconnectivity between skyscrapers. Various urban planning projects include cable cars as a mode of transport for zero emission and silent operations. Moreover, cable cars have found applications in amusement parts and leisure activities.

  10. Segment Information: • The tourism vertical is accounted for 63.4% in 2019 and is expected to grow at a CAGR of 10.6% during the forecast period.

  11. Value Chain Analysis

  12. Competitive Section • Key companies operating in the global 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).

  13. Key Developments • Major companies in the market are involved in contract signing, in order to gain competitive edge in the market. For instance, in January 2017, Bartholet Maschinenbau AG (BMF) entered into contract to install gondola lift as part of a major gondola project of Tannenboden (Switzerland). The project is estimated to be completed by 2019. • Key players in the market are involved in product launches, in order to enhance their product portfolio. For instance, in 2016, MND Group introduced new detachable chair lift and gondola lifts into the market, for which company claims to have high efficiency and high reliability.

  14. Request Sample Report • Request Customization • Download PDF Brochure • Talk to Analyst • Reference : https://www.coherentmarketinsights.com/market-insight/cable-car-and-ropeways-market-1476

  15. About Us Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. What we provide: • Customized Market Research Services • Industry Analysis Services • Business Consulting Services • Market Intelligence Services • Long term Engagement Model • Country Specific Analysis

  16. Contact Us Mr. Shah Coherent Market Insights Pvt.Ltd. Address: 1001 4th Ave, #3200 Seattle, WA 98154, U.S. Phone: +1-206-701-6702 Email: sales@coherentmarketinsights.com

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