Market Snapshot:
An aerial tramway is also called a cable car, sky tram or ropeway. It is a type of airlift which is used for the purpose of traveling from one place to another via a cable or a rope. These are very attractive ropeway system that major attracts tourists from different regions. They are ideal for extremely steep terrain, provide high levels of availability and good stability in wind. Moreover, it has one or two cabins running to and fro between the stations either on a hauling rope on one or two-track ropes or with just a single hauling rope providing the traction. Hence the rising tourism market is also rising the market of aerial tramways. For example, in the region of Costa Rica's Rainforests, the travelers who ride the aerial tram in Arenal (La Fortuna) enjoys the breathtaking views of the region's famous volcano and lake, thus enhancing the market dynamics for both tourism as well as tramways.
Highlights from Aerial Tramway Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The key Vendors profiled in the report are Doppelmayr/Graventa group (Austria), Riblet (United States), Leitner AG Switzerland, Leitner-Poma (United States), Bullwheel International (Canada), SkyTrans Mfg (United States), Hongji (China), M&M Ropeways (India) and Nippon Cable (Japan). Additionally, other players that are part of this comprehensive study are Steurer (Austria) and STM Sistem Teleferik (Turkey).
Geographic Breakdown and Segment Analysis
The Global Aerial Tramway market presents a comprehensive analysis of the Aerial Tramway market by product type (Funicular Railway, Reversible Aerial Tramway, Pulsed Movement Aerial Ropeway, 3S Gondola Lift, Combination Lift, Detachable Gondola Lift and Others), by end-user/application (Mountain sightseeing, Harbour sightseeing, Urban transportation and Others), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Aerial Tramway industry. Investors and Vendors can easily understand the inherent opportunities and challenges for their products in geographical region of interest.
For instance, while the holds majority of market share of the Aerial Tramway market
Analyst at AMA have segmented the market study of Global Aerial Tramway market by Type, Application and Region.
Influencing Trend:
Constant technological advancements are one of the major trends in this market. For example, Doppelmayr/Garaventa Group offers tricable gondola detachable (TGD) ropeways that combine the advantages of the reversible aerial tramway and the gondola lift.
Market Growth Drivers:
The increasing traffic congestions across the cities, worldwide coupled with a rising population and growing per capita spending on the automotive industry has led to excessive traffic congestions and increasing pollution levels. Thus, tramways of transit can offer an effective alternative solution to reduce traffic congestion and also aid in reducing pollution. Furthermore, it can offer benefits such as cost-effective transportation.
Challenges:
High Availablity of Other Ropeways System in Market e.g. Gondolas, Ropehauled Systems, and Many Others and High Installation Cost Associated with these Aerial Tramways
Restraints:
However, high costs associated with these airlifts and stringent safety & security norms such as EU cableway directive 2000/9/EC, which relates to installations designed to carry a person, may hamper the market growth.
Opportunities:
Development Policies and Plans Regarding Infrastructure are Providing a Growth Opportunity and Rising Tourism Industry is also boosting Up the Market
LEITNER, a global provider of cable cars & ropeways, launched the new 8-seater 'Jufen' chairlift in January 2018, which incorporates the latest generation ropeway technology to provide greater transport capacity and comfort.
Regulatory Insights:
According to the European Parliament and of the Council, the manufacturers play a crucial role in ensuring that products placed on the extended single market of the European Economic Area (EEA) are safe. They are responsible for checking that their products meet EU safety, health, and environmental protection requirements. It is the manufacturer’s responsibility to carry out the conformity assessment, set up the technical file, issue the EU declaration of conformity, and affix the CE marking to a product. Only then can this product be traded on the EEA market. As per the points, the manufacturer needs to know and identify the applicable directive(s) and harmonized standards, verify product-specific requirements, identify whether an independent conformity assessment (by a notified body) is necessary, test the product and check its conformity, draw up and keep available the required technical documentation and affix the CE marking and draw up the EU Declaration of Conformity (27 KB).
The global Aerial Tramway is expected to witness moderate growth during the forecast period, owing to its attribute to increasing adoption of cable cars & ropeways in the tourism industry, to attract more customer base. Moreover, the introduction of technologically advanced products by key market players is creating a competitive edge in the market.
Key Target Audience
Potential Investors, Government Bodies and Associations, Up and Down Stream Vendors, Private Research Organizations, Suppliers and Distributors and Others