Aerial Cable Car Equipment Market: Introduction
- Flexibility and cost-effectiveness of aerial cable cars are driving the use of this transportation option in public transport systems in cities, towns, and urban areas. A cable car, or aerial lift, is a method of transportation in which people are transported from one place to another by means of a cabin or cable car that is supported by multiple cables above the ground. These transportation equipment, known as aerial cable cars, are generally built in mountainous terrains where building a road is difficult, and it can easily cross ravines and rivers. The aerial cable car equipment market is estimated to expand during the forecast period.
Key Drivers and Opportunities of the Global Aerial Cable Car Equipment Market
- According to global tourism industry body, World Travel & Tourism Council (WTTC), the global travel & tourism industry has expanded from US$ 6.03 Trillion in 2006 to US$ 9.2 Trillion by 2019. Globally, rise in population of the middle class in emerging economies, increase in travel frequency of millennial population as compared to other generations, and increased awareness among youth about travel destinations are fueling the global travel and tourism market.
- Furthermore, winter sports in Europe and North America is witnessing increasing participation. All these factors are increasing the demand for aerial cable cars or ropeways across these regions. Rise in demand for aerial cable cars in the global travel and tourism industry is increasing the sale of aerial cable car equipment across the globe.
- The COVID-19 pandemic has impacted the travel and tourism sector, which in turn is likely to hinder the demand for the aerial cable car equipment, since the ban on travelling has restricted the usage of global aerial cable cars. The continuation of COVID-19 pandemic and its aftermath are key factors that are projected to restrain the aerial cable car equipment market.
Europe to Hold Major Share of the Global Aerial Cable Car Equipment Market
- In terms of region, the global aerial cable car equipment market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
- Europe is expected to hold a major share of the global aerial cable car equipment market during the forecast period. France, Germany, and Italy have aerial cable cars in a majority of its travelling destinations. Aerial cable cars provide a key advantage of time and in cost to climb steep hills. Europe is witnessing the usage of aerial cable cars as an alternative to conventional urban transport modes, which in turn is expected to boost the demand for aerial cable car equipment during the forecast period.
Key Players Operating in Global Aerial Cable Car Equipment Market
- Bartholet Maschinenbau AG
- Bullwheel International Cable Car Corp.
- Conveyor & Ropeway Services Pvt. Ltd.
- Damodar Ropeways & Infra Ltd
- Doppelmayr/Garaventa Group
- Dubrovnik Cable Car
- Kropivnik Cableways Pvt. Ltd.
- Leitner Ropeways
- Nippon Cable Co., Ltd.
- Vergokan NV
Global Aerial Cable Car Equipment Market: Research Scope
Global Aerial Cable Car Equipment Market, by Equipment Type
- Fixed Grip Installations/ Equipment
- Gondola ropeways
- Detachable Installations/ Equipment
- Mono-cable Gondola Lifts
- Aerial Tramways
- Surface Lift
- Material Ropeways
- Inclined Lift
- Others (Bi-cable, Tri-cable, etc.)
Global Aerial Cable Car Equipment Market, by Application
- Public Transportation
- Material Handling
Global Aerial Cable Car Equipment Market, by Product Type
- Original Equipment Manufacturers (OEMs)
Global Aerial Cable Car Equipment Market, by Price
Global Aerial Cable Car Equipment Market, by Distribution Channel
Global Aerial Cable Car Equipment Market, by Region
- North America
- Rest of North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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