Cable Cars & Ropeways Market Projected to Witness a Double-Digit CAGR During 2024

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.

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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:

Developing cost-effective products for cost-sensitive markets such as India, South Africa, South Korea, Philippines and Vietnam
Provision of efficient training facilities for buyers
Strategic plotting of business divisions according to end use industry growth, such as ski resorts and snow tourism
Providing financial options for installation of cable cars and ropeways

Report Description

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.

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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 Region

North America
Latin America
Europe
APAC
MEA
ASEAN

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
Research Methodology

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.

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This release was published on openPR.