In a recently published report titled “Cable Cars and Ropeways Market: Global Industry Analysis and Forecast, 2016-2024,” the analysts at Persistence Market Research have observed that major players operating in the global cable cars and ropeways market aim for strategic consolidation of the market through mergers and acquisitions to grab the worldwide market opportunity. Major players focus on innovative product launches and advanced safety technologies to compete in the global cable cars and ropeways market. Additionally, to mark their presence globally, major players collaborate with local suppliers and component manufacturers. The analysts have further noticed that the market is restricted due to the dominance of two major players, owing to which regional players witness difficulty to perform in the global market. The expert analysts have studied the global cable cars and ropeways market by region and have observed that in the Europe region, the spending success of cable cars and ropeways fluctuates from time to time and in future, it is estimated to be strongly dependent on the snow tourism and ski industry. On the other hand, in the APAC region, development of the cable cars and ropeways market depends on economic and political stability. Political and economic stability will fuel the growth of development activities, which in turn, will lead to high demand for cable cars and ropeways. Relatively mature regions in the global cable cars and ropeways market, such as Europe can be targeted by developing products with advanced technologies.
After a detailed study of the market, the analysts have found that chair lifts and gondola lifts segments have high potential to grow due to demand from the snow tourism and ski industry. The detachable chairlifts segment is estimated to garner high demand due to the convenience of easy loading and unloading. While differentiating the strategies of key market players, the analysts have taken into consideration the following points:
The report starts with a market overview and provides market definition and synopsis. The section that follows presents the market dynamics, which includes market drivers, restraints, opportunities and challenges in the global cable cars and ropeways market. The macroeconomic factors that influence the growth of the global cable cars and ropeways market are also discussed in this section. The next section of the report provides detailed market share analysis, Y-o-Y growth and market attractiveness analysis on the basis of segments such product type, end use application and region. It provides a market outlook for 2016–2024 and sets the forecast within the context of the global cable cars and ropeways market, including the overall spending made towards the installation of new systems or expansion/upgrading of existing ones in the assessed regions. This section represents the market on the basis of product type and end use applications along with the shares from major countries in the respective regions. The section also represents the aftermarket opportunities across the respective regions. In the last section of the report, a competitive landscape has been included to offer report audiences with a dashboard view. Detailed profiles of manufacturers are also encompassed within the scope of the report to evaluate their key offerings, long and short-term strategies and recent progress in the global cable cars and ropeways market.
Global Cable Cars and Ropeways Market: Segmentation
To understand and assess opportunities in the global cable cars and ropeways market, we have segmented the market as follows:
By Product Type
By End Use
Market volume is inferred through in-depth secondary research and validated from industry experts through primary interviews. Each interview is thoroughly analyzed and average market volume is deduced and reconfirmed prior to incorporating in the report. The price of cable cars and ropeways systems is deduced on the basis of average spending for the construction and installation of the particular type of system with the average length of systems installed. The spending made towards the installation of the particular type of systems may vary according to the location of installation, applications, manufacturers and various other parameters. For forecasting the global cable cars and ropeways market, various macroeconomic factors and changing trends have been observed, giving an idea about the future of the market. Other important factors considered to arrive at market forecast include the size of the current market, upcoming planned projects in various sectors, intentions of governments, ski resort owners and other customers to adopt cable cars in the coming years and other dynamics shaping the scenario of the global cable cars and ropeways market. In the compilation of the report on the global cable cars and ropeways market, the forecasts are conducted in terms of CAGR, while other important criteria such as year-on-year growth and incremental dollar opportunity have also been incorporated presenting the reader with crystal clear insights and future opportunities in the global cable cars and ropeways market.
Gondola lifts are likely to remain a favorite in the global cable cars and ropeways market in terms of new system sales
High demand for gondola lifts in urban transportation and the tourism sector is expected to be a prominent factor driving the growth of the segment. New sales of gondola lifts were anticipated to value a little more than US$ 1500 Mn by 2016 end and are expected to grow at a CAGR of 14.4% to reach a market valuation in excess of US$ 2000 Mn by the end of 2024. In terms of overall spending, gondola lifts are expected to offer a relatively high incremental $ opportunity as compared to other ropeways. The segment is estimated to create incremental $ opportunity of more than US$ 1,000 Mn between 2016 and 2024. The gondola lifts segment is expected to be a lucrative segment in the global cable cars and ropeways market, offering high growth opportunities in terms of value.
High preference for detachable gondola lifts over fixed grip gondola lifts is expected to drive revenue growth of this segment
Gondola lifts have emerged as an efficient solution for urban transport problems, owing to advantages such as high-speed operation and improved passenger transportation capabilities. Moreover, gondola lifts with glass cabins are being widely installed at tourism destinations with an aim to attract tourists. Owing to the high response for gondola lifts witnessed in the market, various manufacturers are stepping forward to manufacture customized products, depending upon the applications and customer preferences. Key manufacturers are investing huge capital in developing energy efficient gondola lifts and are focusing on building all possible amenities inside the cabins. Customer preferences are shifting towards mono cable or tri cable gondolas, instead of bi cable gondolas.
Consistent increase in urban population has resulted in the lack of available land. Almost 70% of the urban population travels daily, which requires efficient mass transit facilities. Various government and transport authorities are emphasizing on the adoption of fast and energy efficient modes of transportation. Subways and metros have been efficient modes for decades, but the cost of construction associated with metros is tremendously high and is not feasible at every place. All these factors are propelling the growth of gondola lifts. With an increase in GDP, disposable income has also increased. People are now capable of spending a significant share of their earnings in amusement and leisure activities. This has boosted the adoption of gondola lifts in various amusement parks. Some large-scale malls are also installing gondola lifts to attract customers. These factors are creating a robust development in the gondola lifts segment.
Gondola lifts segment is expected to emerge as an attractive segment across several regional markets in the global cable cars and ropeways market
The gondola lifts segment in the North America cable cars and ropeways market is expected to gain more than 3,000 BPS between 2016 and 2024. This segment is anticipated to increase at a rapid pace in the near future owing to the high adoption rate of modern transportation systems. In Latin America, the gondola lifts segment is expected to increase at a rapid pace in the near future owing to growth in urban public transport ropeway network in countries such as Bolivia, Colombia, and Venezuela. In countries such as Chile and Peru, a number of gondola projects are now in the planning or development stage. The gondola lifts segment is expected to gain more than 1,500 BPS between 2016 and 2024 in the APAC cable cars and ropeways market. This segment is expected to increase at a rapid pace in the near future, owing to growth in the adoption of gondola lifts mainly in countries such as China, South Korea, and India. The gondola lifts segment in Europe is expected to register fast growth due to high adoption in urban transportation application in countries such as Austria, France, Poland, Russia, and Italy.