Airport Moving Walkway Systems Market is expected to reach $2,959.2 million by 2030 | At a CAGR of 4.0%, Says AMR
Airport Moving Walkway Systems Market
rise in new construction, expansion, and renovation of airport make way for new installation, modernization, and maintenance of airport moving walkway systems
PORTLAND, OR, UNITES STATES, March 15, 2022 /EINPresswire.com/ -- global airport moving walkway systems market Report 2021 is a professional and in-depth survey on the current state of the airport moving walkway systems Market. The report provides a basic overview of the industry including definitions, classifications, applications and industry chain structure. The airport moving walkway systems market analysis is provided for the international market including development history, competitive landscape analysis, and major regions' development status.
global airport moving walkway systems market size accounted for $1.9 billion in 2020, and is expected to reach $2.9 billion by 2030, registering a CAGR of 3.0% from 2021 to 2030. In 2020, Asia-Pacific dominated the global airport moving walkway systems market, in terms of revenue, accounting about 40.5% share of the global airport moving walkway systems industry, followed by North America, Europe, and LAMEA.
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Thus, rise in new construction, expansion, and renovation of airport make way for new installation, modernization, and maintenance of airport moving walkway systems. For instance, in February 2019, it was announced that installation of moving walkway systems will be done from terminal 1 to the parking lot of Bengaluru Airport in India. Moreover, Otis signed a contract with London Gatwick Airport in February 2019 for the maintenance of 340 units of elevators, escalators, and moving walkways for the period of five years. This will help in the airport moving walkway systems market growth during the forecast period.
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The new installation segment secured the highest share of over 40% in the global airport moving walkway systems market in 2020, however, the maintenance segment is expected to grow at a CAGR of over 3.5% during the forecast period. In terms of type, the pallet type segment is expected to garnered the highest share in the coming years, owing to rise in construction activities of new airports and renovation of old airports. The inclined segment is expected to grow at the highest CAGR during the forecast period. This is attributed to the fact that inclined walkways make it easy for the commuters to carry their heavy luggage across the two floors if inclined walkways are installed. Region wise, the airport moving walkway systems market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
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By business type, the new installation segment dominated the global airport moving walkway systems market in 2020, in terms of revenue. The demand for new installation segment is expected to increase due to the construction of new airports and expansion of existing airports. Moreover, on the basis of angle, the horizontal segment dominated the market is expected to remain dominant during the forecast period, as horizontal moving walkways are low cost as compared to inclined moving walkways
Market players-
Analogue Holdings Limited (ATAL Engineering Group), Fujitec Co., Ltd, Toshiba Elevator and Building Systems Corporation, Hitachi, Ltd., Hyundai Elevator Co., Ltd., Kone Corporation, Mitsubishi Electric Corporation, Raytheon Technologies Corporation, Schindler, and Stannah
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