Cable Cars And Ropeways Market : Growth Dynamics| Challenges | Opportunities | By Key Vendors : MND Group,Bartholet Maschinenbau AG (BMF),Nippon Cable Co., Ltd.,CONVEYOR & ROPEWAY SERVICES PVT. LTD.,Damodar Ropeways & Infra Ltd.,STM TELEFERIK,CCM FINOTELL
Installations of new gondola lifts are estimated to be valued at over US$ 1,600 Mn by 2018 end. With an anticipated annual growth rate of 8.4%, the cable cars & ropeways market is estimated to reach a value of more than US$ 3,000 Mn by 2026 end. The rising demand for gondola lifts in the tourism sector as well as urban transportation is expected to be a prominent factor driving the growth of the segment. In terms of overall spending, gondola lifts are expected to create a relatively high incremental $ opportunity in cable cars & ropeways market, valued at more than US$ 1,400 Mn. It is anticipated to be a money-spinning segment in the global cable cars & ropeways market.
High preference for detachable gondola lifts over fixed grip gondola lifts is expected to drive revenue growth of the cable cars & ropeways market
Gondola lifts are expected to emerge as a competent solution for urban transportation problems, owing to advantages such as enhanced passenger transportation capacities and high-speed operation. Moreover, gondola lifts with glass cabins are being widely installed at tourism destinations to attract tourists. The use of glass cabins also acts as a value addition in the cable cars & ropeways system. Attributing to the popularity of gondola lifts in the cable cars & ropeways market, several players are venturing into the manufacturing of customized products. Some of the prominent players in the cable cars & ropeways market are investing in developing efficient cable cars & ropeways technologies using renewable sources of energy with increased capacities. Market players are also noted to focus on building all possible amenities inside the cabins, including amenities such as HVAC vents and infotainment alternatives, among others. Customer preferences are shifting from bicable gondolas to monocable or tricable gondolas in the cable cars & ropeways market. One of the significant causes affecting this shift is the complex design of bicable systems and the high cost associated with them. Monocable and tricable technologies are relatively easier to install and cost effective and are expected to fuel growth in cable cars & ropeways market.
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New orders from various end users are anticipated to drive the cable cars & ropeways market
The growing public spending on leisure activities is creating a need for modernized modes of transport in amusement parks and other recreational activities. The steady rise in the urban population has resulted in a lack of available land. Moreover, nearly 70% of the urban population requires efficient mass transit facilities for daily commute. Also, cable cars & ropeways are gaining prominence among the governing authorities to improve urban mass transit systems. Being eco-friendly and encouraging the use of renewable sources of energy, cable cars & ropeways are estimated to gain eminence over the forecast period. Several government and regional transport authorities are focusing on the adoption of fast and energy-efficient modes of transport and cable cars & ropeways are gaining attention. Subways and metros have been complimenting urban transportation for decades; however, the cost of the civil structure associated with metros is high and is not feasible at every place.
Cable cars & ropeways, especially gondola lifts, are noted to offer comparatively lower operating costs. The overall cost associated with cable cars & ropeways projects is estimated to be 1/3rd to 2/3rd of the overall cost associated with other transportation systems. All these factors are propelling the growth of cable cars & ropeways market. With a rise in the GDP and increasing disposable income, consumer lifestyles have also changed. Consumers are now capable of spending a significant share of their earnings on amusement and leisure activities. This positively impacts the adoption of cable cars & ropeways in amusement parks. Some large-scale hotels and malls are also observed to install cable cars & ropeways system in order to attract customers. These factors are prominently driving the growth of the overall cable cars & ropeways market.
Cable cars & ropeways market consolidation restricts emergence of new players and limits pace of technological advancements
As per PMR analysis, the top two global players collectively account for over 60% of the overall cable cars & ropeways market share. Along with offering customized services, cable cars & ropeways manufacturers also offer a wide range of spare parts and aftermarket services to their clients. Such strategies enhance the brand reputation and also augment customer loyalty towards the company’s cable cars & ropeways products. Several other players are noted to operate on a regional level and assist the growth of the overall cable cars & ropeways market.
Cable Cars & Ropeways Market - Competition Benchmarking
The competitive strategy benchmarking presented in the report reveals that product innovation will secure the limelight when it comes to designing developmental strategies. Operated by the prominent presence of two global leaders and a number of regional players, the global cable cars and ropeways landscape is likely to move to consolidation in coming years, according to the report.
Italy-based Leitner Group installed Scandinavia’s first-ever tricable ropeway, earlier this year. Doppelmayr/Garaventa Group recently launched the world’s longest route – over 7 km – and high capacity ropeway in Vietnam. More recently, CWA - a company operating under Doppelmayr group and is a leading Swiss cabin manufacturer, announced the launch of a new lightweight, multi-featured member in the company’s international flagship product range – Omega.
(i) Apart from new product launches, companies are focusing on the incorporation of advanced safety technologies in their existing portfolio of offerings.
(ii)While global leaders are preferring strategic collaborations with regionally or locally active suppliers and component manufacturers, regional players are investing in R&D of cost-effective cable cars and ropeways to target cost-sensitive regions.
(iii) In an effort to address the high price point associated with the initial installation, several companies are also providing financial options through the installation process.
(iv) Operation training also makes an important trend among companies serving a wide range of application demands.
(v)The report also highlights a growing trend of increasing investments in R&D of advanced technology based cable cars and ropeways that have superior performance, capacity, and safety.
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Cable Cars And Ropeways Market : TOC
1. Executive Summary
2. Market Introduction
2.1. Market Taxonomy
2.2. Market Definition
3. Global Cable Cars & Ropeways Market Analysis Scenario
3.1. Product Lifecycle Analysis
3.2. Market Volume Analysis
3.3. Pricing Analysis
3.4. Market Value Analysis
3.5. Value Chain Analysis
3.6. Product Cost Teardown Analysis
3.7. Manufacturing & Installation Duration Analysis
3.8. Global Cable Cars & Ropeways Project Spending (US$ Mn) and Forecast
3.9. Cable Cars & Ropeways as Compared to Urban Mobility Principles
3.10. Comparative Operating Cost Overview: Bus, Ropeway, Tramway
4. Market Dynamics
4.1. Macro-economic Factors
4.6. Global Cable Cars & Ropeways Market: Technology Roadmap
4.7. Technology Upgradation in Urban Transportation
5. Global Cable Cars & Ropeways Market Analysis and Forecasts, By Product Type
5.3. Basis Point Share (BPS) Analysis By Product Type
5.4. Y-o-Y Growth Projections By Product Type
5.5. Absolute $ Opportunity, By Product Type
5.6. Global Cable Cars & Ropeways Market Value and Volume Forecast, by Product Type
5.6.1. Aerial Tramways
5.6.2. Funicular Ropeways
22.214.171.124. Fixed Grip
5.6.5. Surface lift
5.6.7. Material Ropeways
5.6.8. Inclined Lifts
5.7. Global Cable Cars and Ropeways Market Attractiveness Analysis, by Product Type
5.8. Prominent Trends
6. Global Cable Cars & Ropeways Market Analysis and Forecasts, By End Use
6.2. Basis Point Share (BPS) Analysis By End-Use
6.3. Y-o-Y Growth Projections By End-Use
6.4. Absolute $ Opportunity, By End-Use
6.5. Global Cable Cars & Ropeways Market Value and Volume Forecast, by End-Use
6.5.2. Public Transportation
6.5.3. Material Handling
6.6. Global Cable Cars and Ropeways Market Attractiveness Analysis, by End-use
6.7. Prominent Trends
7. Global Cable Cars & Ropeways Market Analysis and Forecasts, By Region
7.2. Basis Point Share (BPS) Analysis By Region
7.3. Y-o-Y Growth Projections By Region
7.4. Absolute $ Opportunity, By Region
7.5. Global Cable Cars & Ropeways Market Value (US$ Mn) Forecast, by Region
7.5.1. North America
7.5.2. Latin America
7.6. Global Cable Cars and Ropeways Market Attractiveness Analysis, by Region
8. North America Cable Cars & Ropeways Market Analysis and Forecast
8.1.1. Basis Point Share (BPS) Analysis By Country
8.1.2. Y-o-Y Growth Projections By country
8.1.3. Market Attractiveness Analysis, By Country
8.1.4. Absolute $ Opportunity, By country
8.2. North America Cable Cars & Ropeways Market Value and Volume Forecast, by Country
8.3. North America Cable Cars & Ropeways Market Value and Volume Forecast, by Product Type
8.3.1. Aerial Tramways
8.3.2. Funicular Ropeways
126.96.36.199. Fixed Grip
8.3.5. Surface lift
8.3.6. Material Ropeways
8.3.7. Inclined Lifts
8.4. North America Cable Cars & Ropeways Market Value and Volume Forecast, by End-Use
8.4.2. Public Transportation
8.4.3. Material Handling
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