Industry Background:
Robust infrastructural developments, as well as growing international trades, has improved the demand for mobility solutions such as elevators, material handling robots, escalators, and many others. In addition to this, increasing air traffic has ultimately affected an increasing number of airports across the globe which has increased the number of airports across the globe. Thus, the global moving walks market will grow at a maximum CAGR. Moving walkways which are also known as moving walks or travelators. These walkers offer a slow-moving conveyor technique that is used for transporting humans for a shorter distance in an inclined or horizontal plane. Although the initial investments are higher with upsurging growth of smart construction and smart infrastructure development will generate significant demand over the forecasted period.This growth is primarily driven by Increasing Construction of Shopping Malls and Airports and Growing Adoption of Smart City Concepts.
Globally, a noticeable market trend is evident Growing Prevalence of Tourism Culture and International Trades
. The Robotics & Automation sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Schindler Group (Switzerland), Thyssenkrupp AG (Germany), Mitsubishi Electric Corporation (Japan), Orona S.Coop. (Spain), Otis Elevator Company (United States), KONE Oyj. (Finland), Stannah Lifts Holdings Ltd. (United Kingdom), Westmont Industries (United States), Hyundai Elevator (South Korea) and Faigle Kunststoffe Gmbh (Austria) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
On December 3rd, 2018, leading mobility solutions business “ThyssenKrupp Elevator” has raised the market in Brazil’s commercial building sector by installing the fastest lifts in the country at the iconic Birmann 32 office building on Faria Lima Avenue. The elevators of the upper zone will have a speed of 7 meters per second – meaning they can travel through of the building’s 29 floors in about 30 seconds.
Regulatory Insights:
The Supply of Machinery (Safety) Regulations 2008 covers all the machines (from lawn mowers to moving walkways). According to this falls the Machinery Directive 2006-42-EC which provides the harmonization of the essential health and safety requirements for machinery, through a combination of mandatory health and safety requirements and voluntary harmonized standards. The Directive applies to new products put into the market for the first time and requires the manufacturer to take responsibility for its design and manufacture. The Directive requires that before putting a moving walkway into service it should undergo certain procedures including final inspection and test.
Market Drivers
- Increasing Construction of Shopping Malls and Airports
- Growing Adoption of Smart City Concepts
Market Trend
- Growing Prevalence of Tourism Culture and International Trades
- Improved Standard of Living across the Globe
Restraints
- Higher Initial Investments and Maintenance Cost
- Onsite Installation, Larger Carpet Area are the Prerequisites
Opportunities
Upsurging Opportunities from Developing Countries due to Ongoing Infrastructure Developments and Continues Refurbishing & Renovations to utilize more Modern Technologies
Challenges
Skilled Workforce is required for Onsite Installations and Robust Distribution Overheads
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Moving Walks Study Sheds Light on
The Moving Walks Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Moving Walks industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Moving Walks industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.