LONDON--(BUSINESS WIRE)--The global gangway systems market research report by Technavio predicts the market to post a CAGR of more than 6% during the period 2019-2023.
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 global gangway systems market 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.
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
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.
Looking for more information on this market? Request a free sample report
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 Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at media@technavio.com.
