SEATTLE, May 23, 2018 (GLOBE NEWSWIRE) -- The global cable cars and ropeways market was valued at US$ 6,744.4 million in 2017 and is projected to exhibit a CAGR of 11.7% over the forecast period (2018–2025).
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Key Trends and Analysis of the Cable Cars and Ropeways Market:
Cable cars & ropeways are equipment used for aerial transportation from one end to another, especially at mountains, rivers, and other hilly and critical areas. This mode of transportation is also being adopted as a convenient way of transportation in urban areas to reduce traffic congestions and to reduce carbon emissions. In cable cars, 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 ropes, for transportation of passengers or goods from one terminal to another. Ropeway consists of stations, drive systems, rope lines, control systems, and vehicles. Key players in the global cable car & ropeway market are focusing on upgrading the technology and designs of their products, to ensure safety, comfort, and security of the transit.
Cable cars and ropeways market is gaining traction as one of the most preferred means of transportation in mountain areas and for tourism. However, implementation of such transits is still under progress for public transport. This set back is majorly attributed to the performance and cost constraints associated with a cableway system. A major factor restraining growth of the market includes lack of regulations from governing authorities.
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Key Market Takeaways:
- The market is expected to exhibit a CAGR of 11.7% during the forecast period, owing to increasing adoption of cable cars and ropeways in the tourism sector to attract more customer base.
- Some of the major players operating in the global cable car and ropeway 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, and Kreischberg: Cableways.
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