Cable Car & Ropeways Market Size in India, Growth, Opportunity, Analysis and For

Market Overview

A cable car or ropeway or aerial tramway is a type of transport system that uses one or two stationary ropes for support, while a third moving rope provides propulsion. Generally, cable cars operate overhead and are suspended on a single or multiple metal wires. Cable cars and ropeways are installed for long-term operation in ski sports, the tourism sector, man and material handling, and urban transport. There are different types of cable cars such as aerial tramways, chair lifts, material ropeways, surface lifts, funicular ropeways, gondola lifts, and incline lifts. The type of cable car and ropeways may vary with the prospective application. Most commonly used cable cars are considered in the report.

The global cable cars & ropeways market was accounted for US$ 3,667.2 Million in terms of value in 2019 and is expected to grow at a CAGR of 11.90% during the forecast period (2019-2027)

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Market Dynamics

Continuous growth in the urban population had led to unavailability of land. According to Coherent Market Insights’ analysis, around 70% of the urban population travels daily, necessitating efficient mass transit infrastructure. Governments in various countries are focused on fast and energy-efficient modes of transportation. Although metros and subways are efficient ways of transportation, the cost of construction related to metros is significantly high and is not viable at every place. Hence, governments and transport authorities are shifting towards cable propelled transit (CPT) for an effective and smoother transportation system. Moreover, growing snow tourism and material handling have increased the adoption of cable cars. For instance, In 2014, Bolivia inaugurated the first phase of its ‘la-paz-telefericos’ project, which is a 10 km gondola cable car project installed with an investment of approx. US$ 234 Mn. The 2nd phase of this project is initiated, making it the world’s largest CPT with an investment of around US$ 450 Mn. Hence, increasing the adoption of cable cars in urban transport is expected to boost global cable cars & ropeway market growth in the near future.

Since aerial tramways and cable cars are elevated over 300 feet above the ground, which several hundred thousand feet in mountains, stringent safety norms are imposed on installer and operator. Moreover, Europe accounts for the major market share and thus, the maximum number of cable car systems follows ‘European Parliament and Council Directive 2000/9/EC relating to cableway installations designed to carry passengers’ nor.

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Key companies operating in the global cable cars & ropeways market are 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).