Cable Car and Ropeway Market
Cable Car and Ropeway Market Study by Aerial Tramways, Funicular Ropeways, Chair Lifts, Gondola Lifts, Surface Lifts, Material Ropeways, and Inclined Lifts from 2024 to 2034
Analysis of Cable Car and Ropeway Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Cable Car and Ropeway Market Outlook (2024 to 2034)
Revenue from the global cable car and ropeway market is projected to reach US$ 2.28 billion in 2024. The market has been forecasted to increase to a value of US$ 5.1 billion by the end of 2034, expanding at a CAGR of 8.4% over the next ten years.
Ascending or descending from a hill via roads or hiking takes a long time, and this is where a cable car comes into play and reduces travel time, besides adding excitement to the trip. This is a key factor responsible for steady global cable car and ropeway market growth. As more destinations across the world seek to alleviate mobility issues and improve accessibility, cable cars and ropeways are popular as a practical public transportation solution. They also provide a comfortable ride while taking in scenic views, enhancing the overall tourist experience in mountainous areas.
Report Attributes | Details |
---|---|
Cable Car and Ropeway Market Size (2024E) | US$ 2.28 Billion |
Projected Market Value (2034F) | US$ 5.1 Billion |
Global Market Growth Rate (2024 to 2034) | 8.4% CAGR |
East Asia Market Share (2024E) | 24.6% |
North America Market Share (2024E) | 21.6% |
Sales of Gondola Lifts (2034F) | US$ 1.2 Billion |
Revenue from Tourism Segment (2024E) | US$ 1.45 Billion |
Key Companies Profiled | Leitner Group; CCM FINOTELLO SRL; Nippon Cable Co., Ltd.; CONVEYOR & ROPEWAY SERVICES PVT. LTD.; Damodar Ropeways & Infra Ltd.; Doppelmayr/Garaventa Group; STM Teleferik; Leitner-Poma of America, Inc.; MND Group; Bartholet Maschinenbau AG (BMF); Bullwheel International Cable Car Corp.; Dubrovnik Cable Cars |
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What is a Key Cable Car and Ropeway Market Trend?
“Huge Investments at Infrastructural in Several Regions”
Cable cars provide panoramic views and a unique mode of transportation for tourist destinations located in mountains or steep terrains that are difficult to reach by road. Rising global tourism, particularly in mountainous regions, is set to drive overall cable car and ropeway market growth over the forecast period. Investments in upgrading and expanding existing cable car infrastructure will also play a key role in complementing market expansion.
Growing populations in mountainous regions and a rising number of tourist destinations worldwide have led to a need for convenient transportation options. Cable cars and ropeways are an effective solution for connecting remote areas and overcoming geographical barriers. These cable cars can efficiently transport people over uneven terrain, steep slopes, and across rivers, making them suitable for various settings, including hill stations, resort towns, and transportation in areas where traditional methods are not feasible.
What Do Manufacturers of Cable Cars and Ropeways Need to Adhere To?
“Extremely Strict Safety Regulations”
The market for cable cars and ropeways is bound by strict safety regulations as these machines operate under critical conditions. The design and manufacturing of these transport vehicles are closely supervised by safety officers to prevent accidents. Any lapse in design or production can be dangerous, and companies can be put out of business if they do not follow the strict safety standards in place.
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Country-wise Insights
North America is expected to hold a global cable car and ropeway market share of 21.6% in 2024. Latin American countries such as Colombia, Bolivia, and Venezuela are expected to experience steady growth due to the expansion of urban public transportation networks. Several cable car and ropeway projects are currently being planned or developed in Peru and Chile.
How is the Market for Cable Cars and Ropeways Faring in the United States?
“High Usage of Cable Cars and Ropeways for Transportation”
Attribute | United States |
---|---|
Market Value (2024E) | US$ 385.8 Billion |
Growth Rate (2024 to 2034) | 8.3% CAGR |
Projected Value (2034F) | US$ 858.1 Billion |
The United States is expected to account for 78.4% of the North American market share in 2024 due to the high need for these transportation methods in the mountaineering and hiking business. In the country, cable cars and ropeways are popular even for urban transportation. Metropolitan cities have acknowledged the benefits of cable cars and ropeways to cater to their mobility needs. With a high number of tourist destinations across the country, the United States will continue to remain a key market for cable car companies, driven by the need for both, infrastructure upgradation and new deployments.
What Makes China a Lucrative Market for Cable Cars and Ropeways?
“Rapid Developmental Initiatives to Connect Remote Regions”
Attribute | China |
---|---|
Market Value (2024E) | US$ 265.1 Million |
Growth Rate (2024 to 2034) | 8.4% CAGR |
Projected Value (2034F) | US$ 593.6 Million |
China is set to account for around half of the East Asia market share in 2024. Investments in China and efforts to promote cable cars as an alternative transportation solution are driving strong growth rates, positioning China as the future leader in this market. The country is focusing on developing tourism in its mountainous western regions. This has led to rapid infrastructure growth utilizing cable cars and ropeways. Several local manufacturers have taken advantage of this opportunity and contributed to making China a rapidly growing market. The strategic push for domestic development has led to significant investments in building cableway networks and connecting these places in challenging terrains across Western China.
Category-wise Insights
The market for cable cars and ropeways is segmented into aerial tramways, funicular ropeways, chair lifts, gondola lifts, surface lifts, material ropeways, and inclined lifts, of which, gondola lifts are estimated to account for a significant share of 23.5% in 2024. In terms of end users, the market is segmented into tourism, public transport, and material handling, where the tourism sector is set to account for 63.7% share of the market in 2024.
Which Product Accounts for Significant Sales in This Market?
“Gondola Lifts with Glass Cabins Have Enjoyed Immense Popularity”
Attribute | Gondola Lifts |
---|---|
Segment Value (2024E) | US$ 535.4 Million |
Growth Rate (2024 to 2034) | 8.4% CAGR |
Projected Value (2034F) | US$ 1.2 Billion |
Gondola lifts are set to have a significant impact on the overall sales of cable cars and ropeways over the coming years. These are set to become a viable solution for urban transportation challenges due to their increased passenger transportation capacities and high-speed operation. Also, gondola lifts with glass cabins are being widely installed at tourist destinations to attract more visitors.
Use of glass cabins is also adding value to cable car and ropeway systems. Due to the popularity of gondola lifts in the market, several key players are venturing into the production of customized products. Some of the leading manufacturers of cable cars and ropeways are investing in technologies relying on renewable energy sources with increased capacity. Companies are also building all extra amenities inside the cabins, such as HVAC vents and infotainment alternatives, among others.
Customer preferences are shifting away from bicable gondolas and toward monocable or tricable variants. The complex design of bicable systems, as well as their high cost, are significant factors influencing this shift. Monocable and tricable technologies are relatively simple to install and cost-effective and are expected to drive market growth going forward.
How is the Tourism Sector Promoting the Market of Cable Cars and Ropeways?
“Cable Cars and Ropeways Provide Scenic Views to Tourists”
Attribute | Tourism |
---|---|
Segment Value (2024E) | US$ 1.45 Billion |
Growth Rate (2024 to 2034) | 8.4% CAGR |
Projected Value (2034F) | US$ 3.26 Billion |
Cable cars and ropeways have contributed to the growth of tourist attractions in areas with dynamic demographics. Alpine countries such as Austria, France, Germany, Italy, Liechtenstein, Monaco, Slovenia, and Switzerland, which experience harsh weather conditions and heavy snow, see a high demand for cable cars and ropeways. Additionally, developing countries in the Asia Pacific and other regions have also begun using these transportation systems in winter for tourism purposes.
Cables and ropeways provide a comfortable ride while allowing scenic views, which enhances the overall tourism experience. Some countries and cities have made significant investments in upgrading existing infrastructure or establishing new cable car networks to boost tourism and alleviate traffic congestion.
Know thy Competitors
Competitive landscape highlights only certain players
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Competitive Landscape
Key players in the cable car and ropeway market are looking to offer these systems at relatively low prices, to increase their sales and market share. This is likely to effectuate intense competition amongst small and large manufacturers and compel market players to enhance the technology and offer better cost-effective cable cars and ropeways.
- In August 2023, Doppelmayr, a leading cable car manufacturer, announced the successful installation of a new eight-seater gondola lift in Choquequirao, Peru. This new system aims to improve accessibility and increase tourism to this historical Inca site.
- In May 2024, Leitner Poma launched a revolutionary high-speed detachable gripper technology for cable car systems. This innovation promises higher speeds, more passenger capacity, and improved operational efficiency.
- Tripadvisor awarded Dubrovnik Cable Cars the Traveler's Choice Award in 2022. This is because the company offers ropeway services at a very competitive price and has been in business for over 50 years.
Fact.MR provides detailed information about the price points of leading manufacturers of cable cars and ropeways positioned across the world, sales growth, production capacity, and technological advancements, in this new market report.
Segmentation of Cable Car and Ropeway Market Research
-
By Product Type:
- Aerial Tramways
- Funicular Ropeways
- Chair Lifts
- Gondola Lifts
- Surface Lifts
- Material Ropeways
- Inclined Lifts
-
By End Use:
- Tourism
- Public Transport
- Material Handling
-
By Region:
- North America
- Latin America
- East Asia
- South Asia & Pacific
- Western Europe
- Eastern Europe
- Middle East & Africa
- FAQs -
How big is the cable car and ropeway market in 2024?
The global market for cable cars and ropeways and is estimated at US$ 2.28 billion in 2024.
What are the demand growth projections for cable cars and ropeways?
The cable car and ropeway market is forecasted to expand at a CAGR of 8.4% to reach US$ 5.1 billion by 2034.
What is the rate at which the market is projected to expand in the United States?
The market in the United States is forecasted to advance at 8.3% CAGR between 2024 and 2034.
What is the projected market size for cable cars and ropeways in Japan?
The market in Japan is forecasted to reach US$ 334.1 million by the end of 2034.
How much market share does the tourism segment account for?
The tourism segment is estimated to account for 63.7% of the global market share in 2024.
What is the share of East Asia in the global market?
East Asia is forecasted to account for a market share of 24.8% by 2034.
Who are the key manufacturers of cable cars and ropeways?
Leitner Group, CCM FINOTELLO SRL, and Nippon Cable Co., Ltd. are some of the leading manufacturers of cable cars and ropeways.