Sky High: Future Outlook of the Cable Cars & Ropeways Industry Statistics and Growth Trends Analysis Market

Growth in the cable cars and ropeways market is driven by increasing tourism activities in hilly regions across the globe. The rising disposable income has encouraged passengers to visit new destinations for leisure and adventure activities. According to the United Nations World Tourism Organization (UNWTO), international tourist arrivals increased by 4% in 2021 compared to 2020, reaching 1 billion. The recovering global economy and easing of travel restrictions supported the tourism industry growth.

Cable Cars & Ropeways Market is Estimated to Witness High Growth Owing to Rising Investment by Governments

The Cable Cars & Ropeways Market is estimated for 2023 for the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Cable cars and ropeways provide scenic transport services for tourists in mountainous regions. They transport passengers traveling to recreational places in hilly areas.

Market Dynamics:

Growth in the cable cars and ropeways market is driven by rising investments by governments worldwide to develop transportation infrastructure in hilly areas. Many countries are expanding their ropeway networks to improve regional connectivity and boost tourism. For instance, in July 2022, the Indian government announced plans to develop ropeway projects across 200 tourist places over the next 3 years under the 'Parvatmala' scheme with an investment of INR 10,000 crore. This rising government support is expected

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Key Company Profiles:

Key companies operating in the global cable cars & ropeways market are Damodar Ropeways & Infra Ltd., MND Group, Doppelmayr/?Garaventa Group, Conveyor & Ropeway Services Pvt. Ltd., Leitner S.p.A, Nippon Cable Co., Ltd., POMA Group, and Bartholet Maschinenbau AG (BMF).

This Report lets you identify the opportunities in Cable Cars & Ropeways Market by means of a region:

⦿ North America (the United States, Canada, and Mexico)
⦿ Europe (Germany, UK, France, Italy, Russia and Turkey, etc.)
⦿ Asia-Pacific (China, Japan, Korea, India, Australia, and Southeast Asia (Indonesia, Thailand, Philippines, Malaysia, and Vietnam))
⦿ South America (Brazil etc.)
⦿ The Middle East and Africa (North Africa and GCC Countries)

Major Growth in Tourism and Recreational Areas

The cable car and ropeway market is witnessing significant growth owing to the increasing popularity of cable cars and ropeways for leisure and tourism purposes. Cable cars and ropeways offer panoramic views of the surrounding areas and provide ease of access to otherwise difficult to reach locations like steep mountains and hills. This has led to a surge in tourism in regions with cable cars and ropeways. For example, cable cars in Kashmir and Gulmarg receive a huge footfall of tourists every year visiting these locations for their natural beauty. Similarly, ropeways installed in hilly terrains in places like Manali, Shimla, etc have boosted tourism to these areas. With economic development and rising disposable incomes, recreational activities and adventure tourism have grown exponentially over the past decade. This trend is further fueling the installation and upgrade of cable cars and ropeways globally to enhance tourism experiences.

Expansion of Urban Mass Transit Systems

Rising urbanization and congestion in city roads have necessitated the expansion of public transportation infrastructure in many countries. Cable cars and ropeways provide an efficient, affordable and environment-friendly solution for transporting large volumes of people over long distances in urban areas. They require lesser land space compared to roads and metros and can smoothly navigate through difficult terrains. Many cities across the world have invested or are planning to invest in cable car and ropeway projects for connecting remote urban localities, BRT corridors and establishing city circulation lines for reducing road congestion. For example, cable cars have been installed in hilly areas of Medellín, Colombia to access remoteslums. Projects connecting Addis Ababa, Ethiopia and complex landscapes of Lagos, Nigeria indicate strong potential for this market.

High Initial Capital Requirements

While cable cars and ropeways efficiently transport people over long distances, their implementation requires massive upfront capital investments for infrastructure development. Significant costs are involved in carrying out feasibility studies, acquiring land, constructing stations, laying foundation, erecting pylons and installing tensile structures, cables and carriers. Continual expenses are also incurred for maintenance and replacement of machinery over the project's lifetime. This high initial capital requirement poses a restrain for many regions to scale up or implement new ropeway and cable car projects despite their inherent benefits. Countries with limited financial resources find it challenging to fund such capital intensive infrastructure projects competing for funds with other transportation and development priorities. Addressing the huge capital requirements through strategic partnerships, financing innovative models and government subsidies can help expand the potential of this market.

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Research Scope

Scope - Highlights, Trends, Insights. Attractiveness, Forecast


Market Sizing - Product Type, End User, Offering Type, Technology, Region, Country, Others


Market Dynamics - Cable Cars & Ropeways Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain


Business Framework - Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments


Competitive Landscape - Cable Cars & Ropeways Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
Key questions answered in the report include:

ᗒ How Cable Cars & Ropeways Market industry market will boom in 2024?

ᗒ which are prominent key players will be growing the market?

ᗒ Which enterprise size accounted for the largest data center colocation market share?

ᗒ What is the Compound Annual Growth Rate(CAGR) of the market during the forecast period (2024-2031)?

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About Coherent Market Insights
Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

This release was published on openPR.