The gangway systems market will register a CAGR of more than 6% by 2023.
Owing to the increased need for aiding the passengers and offering safety, various vendors in the market are introducing innovative features in gangways. Market players are also focusing on using robust material of construction which can resist high wear and tear.
Rising investments in urban rail transit
The rising need for reducing traffic congestion and improving transportation facilities is propelling several economies in Asia for planning the mass transit metro railway projects in the urban areas. Countries including China and India are investing considerably in the mass transit rail projects, in turn, accelerating the growth of the market.
Delays in airport and railway constructions
Since the railway and airport projects are often constrained due to the lack of adequate permit issues and capital, there are frequent delays between planning, construction, and completion of the projects. Such delayed execution of projects often hampers the market revenue of vendors, in turn, hindering the market's growth.
The market appears to be fragmented and the competitive environment is expected to turn quite intense owing to the increasing initiatives of the vendors to leverage modern technologies for offering safer and customized gangways catering to the evolving customer requirements. Due to the growing need to differentiate their products offerings, various gangway systems manufacturers are focusing on introducing new and improved products to attain competitive advantage and boost the gangway systems market value
Key Topics Covered:
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
Market segmentation analysis
PART 04: MARKET SIZING
Market sizing 2018
Market size and forecast 2018-2023
PART 05: FIVE FORCES ANALYSIS
Bargaining power of buyers
Bargaining power of suppliers
Threat of new entrants
Threat of substitutes
Threat of rivalry
PART 06: MARKET SEGMENTATION BY APPLICATION
Market segmentation by application
Comparison by application
Trains - Market size and forecast 2018-2023
Airports and seaports - Market size and forecast 2018-2023