Global Gangway Systems Market 2019-2023 | Rising Investments in the Development of Airports Drive Growth | Technavio
LONDON--(BUSINESS WIRE)--Dec 4, 2018--The global gangway systems market research report by predicts the market to post a CAGR of more than 6% during the period 2019-2023.
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Technavio has released a new market research report on the global gangway systems market for the period 2019-2023. (Graphic: Business Wire)
A key driver for the global gangway systems market is the growing investments in the development and modernization of airports. Owing to the increase in intra-country and inter-country passenger flights, there has been an increase in passenger traffic globally. The advent of low-cost airlines and the rise in disposable income have increased passenger traffic in Asia. The high demand for air travel has led to significant investments in airports and the Middle East and Asia are expected to be the major contributors to these investments.
This research report also provides an analysis of the most important trends expected to impact the market outlook during the period 2019-2023. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
In this report, Technavio highlights the rise in demand for open gangway systems in North America as one of the key trends in the global gangway systems market:
Global gangway systems market: Rise in demand for open gangway systems in North America
The open gangway systems are quite common in Europe and Asia. They are extensively used in passenger trains and urban transit trains. But, only one open gangway system is being used in the US at present as most of the passenger trains in the US are decades old and renovating them by incorporating open gangway systems is highly expensive and time-consuming. However, the demand for open gangway systems is expected to increase in the US with the need for major design changes to passenger trains.
“The US has one of the highest passenger densities with highly crowded subways. The annual subway ridership in the US was more than 1,500 million in 2017. The incorporation of open gangway systems will ease out the traffic in trains as passengers will be able to distribute themselves by moving from one coach to the other. Furthermore, the extra space between the coaches in the form of open gangways will also provide an additional revenue stream for the service providers,” says a senior analyst at Technavio for research on transportation and distribution.
Global gangway systems market: Segmentation analysis
This gangway systems market analysis report segments the market by application (trains, airports and seaports, and buses) and geography (the Americas, APAC, and EMEA).
The trains segment held the largest gangway systems market share in 2018, accounting for nearly 40% of the market. This application segment is expected to dominate the global market throughout the forecast period.
The APAC region led the market in 2018 with more than 42% of the market share, followed by EMEA and the Americas respectively. The APAC region is expected to dominate the market throughout the period 2019-2023.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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