An airport charging station is used for charging batteries of the portable devices such as mobile phone, computer, cameras, and many more. Low battery life of portable devices is one of the major driving factors for growth of the market. Increasing usage of internet for running apps on mobile devices, performing various business-related activities such as emails, calls, sharing of data over the portable, which require long battery life. This charging station allows user to charge their devices, in order to avoid interruption while performing any activities on it. Thus, placing charging station in the airport will help user to solve the problem of low battery, which in turn helps in propelling growth of the market.
Increasing demand for new airport construction and modernization of the existing airport are factors driving growth of the market
Increasing air passenger traffic is expected to be one of the major factors leading to high demand for new airport construction. For instance, according to the IATA (International Air Transport Administration) analysis, the air passenger traffic has increased by 7.6% in 2017 as compare to 2016, globally. Therefore, increasing air passenger traffic will positively affect demand for new airport construction, in order to meet this high air passenger traffic. Additionally, government initiative for modernizing the existing airport, which in turn is expected to lead to growth of the airport charging stations market during the forecast period. Increasing international air passenger traffic has forced government agencies around the world to make substantial investments in expanding the transportation networks so as to meet the high volume of visitors, which in turn requires construction of new airports. For instance, according to the CAPA (Centre for Aviation) in 2015, the U.S. government invested US$100 billion for the construction of 400 new airports in the U.S. Therefore, increasing financial support by government agencies, in turn is expected to help in propelling growth of the airport charging stations market.
High initial cost is one of the key challenges hampering growth of the market
High initial cost of charging stations is one of the factors negatively impacting growth of the market over the forecast period. Since, cost required for installations of these charging stations is very high, which proportionally increases cost of investment.
Based on application, the mobile phones segment is projected to be the leading segment in the airport charging stations market during the forecasted period
Increasing demand for mobile phones globally, is expected to support growth of the airport charging stations market. According to the International Telecommunication Union, it was estimated that 4.30 billion people used mobile phones globally, which represented 58.7% of the global population. Rising disposable income, increasing spending on media, entertainment and networking, and mobile applications are factors expected to lead to increasing demand for mobile phones. Owing to increasing usage of mobile phones, demand for charging stations is expected to increase. Therefore, increasing demand for mobile phones will help in fuelling growth of the market.
Global Airport Charging Station Market: Regional Insights
On basis of geography, the global airport charging stations market is segmented into North America, Europe, Asia Pacifica, Latin America, Middle East, and Africa. The market for Asia Pacific is expected to exhibit the highest CAGR during the forecast period. Increasing air passenger’s traffic is one of the major factors leading to growth of the airport charging station market in this particular region. For instance, according to the International Airport Transportation Administration (IATA) analysis, in 2016, the number of air passenger traffic increased in Asia Pacific region as compare to that in 2015.
Global Airport Charging Stations Market: Competitive Insights
Key players operating in the airport charging stations market including Arconas Corporations, InFlight Peripherals Ltd., Veloxity One, LLC, JCDecaux Corporations, Kwik Boost, Inc. ETone Technology Ltd., ETone Technology, Evans Airport Solutions, Power Tower, Inc., and Winnsen Industry Co., Ltd.
Kay players in the market such as Arconas Corporations, Veloxity One, LLC, and JCDecaux are adopting new strategies such as partnership for installing charging stations in the airport, in order to enhance their market share. For instance, in 2014, JCDecaux entered into partnership with Verizon Wireless, in order to deploy mobile charging digital stations throughout the U.S. Airports mainly in the John F. Kennedy International Airport, Newark Liberty International Airport, Miami International Airport, and Los Angeles International Airport.
Global Airport Charging Stations Market: Taxonomy
By Product Type