Global Cable Car & Ropeways Market to Surpass US$ 6,744.4 million by 2025

Published On : Apr 03, 2018

The cable car & ropeways market was valued at US$ 2,689.4 million in 2016 and is projected to reach US$ 6,744.4 million by 2025, exhibiting a CAGR of 11.2% over the forecast period, according to Global Cable Car & Ropeways Market Report, by Product Type (Aerial Tramways, Funicular Ropeways, Chairlifts, Gondola, Surface Lift, Material Ropeways, and Inclined Lifts), by End User (Tourism, Public Transportation, and Material Handling), and by Supply Chain (Original Equipment Manufacturer & Aftermarket), published by Coherent Market Insights.

Cable car & ropeways are equipment used for aerial transportation from one end to another, especially at mountains, rivers, and other areas. This mode of transportation has recently been adopted as a convenient way of transport among urban areas to reduce traffic congestions and to reduce carbon emission. In cable car, the engine is not attached to the carrying car itself, rather is placed at a powerhouse or other places. However, in ropeways, special types of carriers are hovered from overheard rope, for transportation of passengers or goods from one terminal to another. Ropeway consists of stations, drive system, rope line, control systems, and vehicles.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/cable-car-and-ropeways-market-1476 

Browse 60 market data tables* and 40 figures* on "Global Cable Cars & Ropeways Market” - Global forecast to 2025.

Key Trends and Analysis of the Global Cable Car & Ropeways Market:

  • Among product types, gondola segment was the dominant segment in the cable car & ropeways market in 2016. Gondola have the average capacity of 2,500 pphpd (persons per hour per direction). These are reliable and safer way of aerial transit, especially mono-cable gondolas, which are commonly used in cities. Governments are increasingly focusing on adopting gondolas as a way of public transit, which is expected to drive growth of the market. For instance, Mi Teleférico in La Paz, Bolivia, which is one of the most developed cable car system launched in 2014, connects the valley city of La Paz with the neighboring hill-top city of El Alto.
  • Among end users, tourism segment accounted for the largest share in the global cable cars & ropeways market in 2016 and is expected to continue its dominance throughout the analysis period. Cable car & ropeway offer a unique attraction for visitors or tourists, which in turn boosts growth of the tourism sector in the region. It offers tourists a way of transport from one end to another, especially at mountain areas, for skiing or for resorts. As per the statistics given by European Parliamentary Research Service, ski segment creates opportunity for cableway technology, for which Europe is the dominant region across the globe.

Key Takeaways of the Market:

  • According to Coherent Market Insights’ analysis, Europe cable car & ropeways market accounted for the largest share in the global market and is expected to witness highest growth over the forecast years. This is owing to large presence of hilly areas, booming tourism industry, and presence of leading manufacturers such as Doppelmayr/Garaventa Group, Leitner and Poma in the region. According to European Commission data published in 2016, around 17,500 cableway installations were present in Europe, which is around 60% of the global count.
  • Cable cars and ropeways are rapidly gaining traction as a preferred choice of transport in mountain areas and for tourism. However, implementation of such transit is still under progress for public transport. This set back is majorly attributed to the performance and cost constraints associated with a cableway system. Other factors contributing to this is lack of awareness in this transport system, new technology, and lack of regulations from governing authorities.
  • According to Coherent Market Insights’ analysis, technological innovations introduced by key industry players has positively impacted the market growth for cable cars and ropeways. For instance, in November 2017 Leitner ropeways launched new Symphony 10 gondola in Val Gardena with 77 cabins that can transport 3,450 passengers per hour.
  • Some of the major players in the global cable car & ropeways market include Doppelmayr/Garaventa Group, Leitner S.p.A., POMA Group, Bartholet Maschinenbau AG (BMF), Nippon Cable Co., Ltd., Damodar Ropeways & Infra Ltd., Bullwheel International Cable Car Corp., Vergokan, Dubrovnik cable cars, Kreischberg: Cableways, Syneron Medical Ltd., and Venus Concept Canada Corp.

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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