Cable Cars & Ropeways Market

1
Global Cable Cars Ropeways Market is Estimated
to Witness High Growth Owing to Increasing
Tourism Activities Technological Advancements
Cable Cars Ropeways Market
The global cable cars ropeways market is
estimated to be valued at US3,667.2 million in
2019 and is expected to exhibit a CAGR of 11.90
over the forecast period of 2019-2027, as
highlighted in a new report published by Coherent
Market Insights.
A) Market Overview
The cable cars ropeways market primarily
includes the transportation systems that utilize
cable-driven mechanisms for moving people and/or
goods. These systems have wide-ranging
applications in various industries such as
tourism, ski resorts, amusement parks, and
transportation of goods in hilly or mountainous
regions. Cable cars and ropeways provide a unique
and thrilling experience to tourists while
offering convenient and reliable transportation
solutions in difficult terrains. The market is
characterized by the presence of both aerial
ropeways and funiculars, which cater to different
transportation needs.
B) Market Dynamics
The cable cars ropeways market is driven by two
significant factors increasing tourism
activities and technological advancements.
Driver 1 Increasing Tourism Activities
With the rise in disposable income and a growing
desire for unique travel experiences, the global
tourism industry has witnessed significant growth
in recent years. Tourists are increasingly
seeking adventure and
2
are willing to explore offbeat destinations.
Cable cars and ropeways offer a thrilling
experience to tourists while providing easy
access to scenic locations, thereby driving the
demand for cable cars ropeways.
For example, the Jungfrau region in Switzerland
attracts millions of tourists each year due to
its panoramic views. The region has an extensive
network of cable cars and ropeways, providing
breathtaking views of the Swiss Alps and making
it a popular tourist attraction.
Driver 2 Technological Advancements
Advancements in technology have revolutionized
the cable cars ropeways industry. Manufacturers
are incorporating innovative engineering
techniques, such as automatic tensioning systems,
remote monitoring systems, and energy-efficient
components, to enhance the safety, efficiency,
and overall experience of cable car systems.
For instance, Doppelmayr/Garaventa Group, one of
the key players in the market, introduced the
world's first 3S (tri-cable gondola) system,
which combines the advantages of both gondolas
and aerial ropeways. This system provides high
passenger capacity, enhanced stability, and
increased flexibility in various weather
conditions.
C) Segment Analysis
The cable cars segment dominates the Cable Cars
Ropeways Market in terms of revenue, owing to
their widespread use in tourist destinations and
ski resorts. Cable cars not only provide a scenic
experience but also serve as an efficient mode of
transportation in difficult terrains. Moreover,
the growing popularity of adventure sports, such
as paragliding and zip-lining, has further
increased the demand for cable cars.
D) PEST Analysis
Political The political stability and favorable
government regulations in tourist destinations
play a crucial role in the growth of the cable
cars ropeways market.
Economic The economic development of countries
and the rise in disposable income of individuals
have a direct impact on the demand for cable cars
ropeways.
Social The increasing preference for unique
travel experiences and adventure tourism is
driving the growth of the market.
Technological Technological advancements in the
cable cars ropeways industry, such as the
development of energy-efficient systems and
remote monitoring, are enhancing the overall
efficiency and safety of the systems.
E) Key Takeaways
1. The global cable cars ropeways market is
expected to witness high growth, exhibiting a
CAGR of 11.90 over the forecast period, due to
increasing tourism activities and technological
advancements.
2. The Asia Pacific region is expected to be the
fastest-growing and dominating region in the
market, attributed to the presence of popular
tourist destinations, such as the Himalayan
region and Japan's ski resorts.
3
3. Key players operating in the global cable cars
ropeways market include 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).