(MENAFN- GlobeNewsWire - Nasdaq) tourism Continues to Account for Bulk of Revenue Earned by Cable Car and Ropeways Operators.
Rockville, MD, Aug. 20, 2024 (GLOBE NEWSWIRE) -- According to a new market research released by Fact.MR , the global cable car and ropeway market is projected to reach a size of US$ 2.28 billion in 2024 and thereafter expand at a CAGR of 8.4% from 2024 to 2034.
As more destinations around the world seek to address mobility issues and improve accessibility, cable cars and ropeways have gained popularity as a practical public transportation option. They also offer a comfortable ride while taking in scenic views, which improves the overall tourist experience in mountainous areas.
Cable cars and ropeways are driving the transformation of several tourist attractions. With maintenance, regular audits, and convenient connectivity, tourist authorities are relying on cable cars and ropeways to draw in more tourists, while also earning from other sources such as public transport and material handling.
For More Insights into the Market, Request a Sample of this Report:
![Cable Car And Ropeway Market Is Expected To Reach US$ 5.1 Billion At A CAGR Of 8.4% By 2034 | Fact.MR Image](https://menafn.com/updates/pr/2024-08/20/GN_27ce5d04-4_Image_In_Body.jpg)
Key Takeaways from Market Study
The global cable car and ropeway market is forecasted to reach US$ 5.1 billion by 2034. Global sales of cable cars and ropeways are projected to rise at 3% CAGR between 2024 and 2034. The tourism segment is forecasted to reach a market value of US$ 1.45 billion by 2034. The market in the United States is expected to reach US$ 385.8 million in 2024. Sales of cable cars and ropeways in South Korea are projected to increase at a CAGR of 8.6% between 2024 and 2034. East Asia is estimated to capture a global market share of 6 % in 2024. Revenue from gondola lifts is projected to reach US$ 1.2 billion by 2034.
“Cable cars and ropeways are becoming increasingly popular due to their widespread use in the tourism sector, backed by substantial technological advancements in recent years,” says a Fact.MR analyst.
Leading Players Driving Innovation in the Cable Car and Ropeway Market
Key players in the cable car and ropeway market are 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
Tourist Destinations Account for High Demand for Cable Cars and Ropeways
Cable cars and ropeways are aiding the growth of tourist attractions in areas with changing 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. North America, Europe, and Asia will be key regional markets over the next ten years.
Cable Car and Ropeway Industry News:
Leading cable car manufacturer Doppelmayr stated in August 2023 that a new eight-seater gondola lift had been installed in Choquequirao, Peru, with great success. The goal of this new approach is to make this famous Inca site more accessible and attract more tourists. Leitner Poma introduced a cutting-edge high-speed detachable gripper device for cable car systems in May 2024. Increased passenger capacity, faster speeds, and increased operating efficiency are all promised by this invention. In 2022, Dubrovnik Cable Cars received the Traveler's Choice Award from TripAdvisor. This is because the company has been in operation for more than 50 years and provides ropeway services at a very cheap price.
Get Customization on this Report for Specific Research Solutions:
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the cable car and ropeway market for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study divulges details on the cable car and ropeway market based on product type (aerial tramways, funicular ropeways, chair lifts, gondola lifts, surface lifts, material ropeways, inclined lifts) and end use (tourism, public transport, material handling), across seven major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and MEA).
Check out More Related Studies Published by
Drone Photography Services Market : Size is forecasted to increase at a double-digit CAGR of 18.7% and reach US$ 4.07 billion by 2034-end.
Buckling Pin Relief Valve Market : Size is projected to reach US$ 1.27 billion in 2024. The market has been forecasted to increase to a size of US$ 1.67 billion by the end of 2034, expanding at a CAGR of 2.8% over the next ten years (2024 to 2034).
Electric Grill Market : Share is estimated to reach a value of US$ 2.44 billion in 2024 and further expand at a CAGR of 7.3% to end up at US$ 4.94 billion by 2034-end.
Commercial Refrigeration Equipment Market : Size is projected to reach US$ 52.4 billion in 2024. The market has been forecasted to increase to a size of US$ 90.4 billion by the end of 2034, expanding at a CAGR of 5.6% over the next ten years (2024 to 2034).
Bandsaw Machine Market : Size is projected to reach US$ 3.48 billion in 2024. The market has been forecasted to increase to a size of US$ 4.96 billion by the end of 2034, expanding at a CAGR of 3.6% over the next ten years.
Agricultural Equipment Market : Revenue is projected to reach US$ 127.6 billion in 2024. The market has been forecasted to increase to a value of US$ 194.4 billion by the end of 2034, expanding at a CAGR of 4.3% between 2024 and 2034.
About Us:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning.
With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay competitive.
Follow Us: LinkedIn | Twitter | Blog
CONTACT: Contact:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
Sales Team: ...
![](https://ml.globenewswire.com/media/NGMyYzYyYjctZDY5NS00OTYwLWE3MDMtOTczMGE5OGU0ZDMxLTExMDc2ODU=/tiny/FACT-MR.png)
MENAFN20082024004107003653ID1108579558
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.