Aerial Tramway Market Forecasts to 2030 - Global Analysis By Product, Type, Installation Type, Capacity Type, Application, Sales Channel and By Geography

According to Stratistics MRC, the Global Aerial Tramway Market is accounted for $178.74 million in 2023 and is expected to reach $272.33 million by 2030 growing at a CAGR of 6.2% during the forecast period. An aerial tramway is a type of transportation system that uses cables to transport people or goods between two or more points. It is also called a cable car, sky tram or ropeway. These are very attractive ropeway system that major attracts tourists from different regions. They are ideal for extremely steep terrain, provide high levels of availability and good stability in wind. Moreover, it has one or two cabins running to and fro between the stations either on a hauling rope on one or two-track ropes or with just a single hauling rope providing the traction.

According to a survey at Boise State University found that about 35% of respondents expressed that, an aerial tramway is feasible and economically viable and could save up to 10% in average travel time.

Market Dynamics:

Driver:

Growing tourism and recreation industry

Aerial tramways are popular in tourist destinations for sightseeing and accessing recreational areas like ski resorts, national parks, and hiking trails. This scenic attraction enhances the overall tourism experience and draws more visitors to destinations where tramways are available. Also, aerial tramways can be marketed as environmentally friendly transportation options, as they have a lower environmental impact compared to traditional ground transportation methods. Therefore, growth of the tourism industry drives the demand for aerial tramway systems.

Restraint:

Environmental concerns

Aerial tramways may face opposition from environmental groups or local communities due to concerns about habitat disruption, noise pollution, and visual impact on natural landscapes. Aerial tramways can alter the visual landscape, potentially affecting the aesthetic appeal of natural areas. The construction of aerial tramways often requires clearing vegetation and altering natural landscapes. This can disrupt local flora and fauna, and may even lead to soil erosion or degradation. These factors are hampering the market demand.

Opportunity:

Rising collaborations with tourism industries

Collaborations with the tourism industry can lead to increased visitor numbers to destinations featuring aerial tramways. This influx of tourists can generate additional revenue for both the tramway operators and the local economy. It can also lead to cross-promotional activities. Thereby, aerial tramways become iconic features of a destination and contribute to positive destination branding. Overall, collaborations with the tourism industry can significantly boost the popularity and profitability of aerial tramways market.

Threat:

High operational & maintenance costs

Aerial tramways have high operational and maintenance costs due to their design, operation, and location. Aerial tramways involve a complex system of cables, towers, cabins, and stations. This intricate infrastructure requires regular inspections, maintenance, and occasional replacement of components. Beyond initial construction, tramways have ongoing lifecycle costs associated with regular component replacement, upgrades, and refurbishments. It also consist additional expenses such as electricity costs and payment of technicians, engineers, and safety experts which hinders the market growth.

COVID-19 Impact

The COVID-19 pandemic has had a notable impact on the aerial tramway market. Many aerial tramways, especially those catering to tourism and recreational purposes, experienced temporary closures or reduced operating schedules due to lockdowns, travel restrictions, and reduced visitor numbers. The decline in visitors and revenues placed financial strain on operators of aerial tramways. Operators had to reconfigure seating arrangements and implement measures to ensure social distancing. In some regions, aerial tramways were repurposed for transportation in urban areas to reduce congestion and facilitate social distancing. The recovery of the aerial tramway market is closely tied to the broader recovery of the tourism and travel industry.

The gondola lifts segment is expected to be the largest during the forecast period

The gondola lifts segment is estimated to have a lucrative growth. Gondola lifts provide passengers with breathtaking panoramic views of natural landscapes, cities, and tourist attractions. It can transport people to areas that are difficult to reach, such as mountain resorts, national parks, hiking trails, or historical sites. By providing an aerial route, gondola lifts help alleviate traffic congestion in busy urban centers. In emergency situations, gondola lifts can be used for rapid evacuation or transportation of supplies to areas that may be otherwise inaccessible due to natural disasters or other emergencies.

The mountain sightseeing segment is expected to have the highest CAGR during the forecast period

The mountain sightseeing segment is anticipated to witness the highest CAGR growth during the forecast period. Mountain sightseeing via aerial tramway is a popular and exhilarating way for tourists to experience overwhelming views of natural landscapes, especially in regions with rugged terrain. It helps visitors to have the opportunity to learn about the local culture, traditions, and history of the region. Its recreational activities, photography opportunities, cultural experiences and weather variability provide lucrative growth to the segment.

Region with largest share:

Asia Pacific is projected to hold the largest market share during the forecast period. Asia-Pacific is home to numerous popular tourist destinations, including mountainous regions, coastal areas, and cultural heritage sites. Countries like China, India, and Indonesia, has been experiencing rapid urbanization. This has led to increased demand for efficient and sustainable transportation solutions, including aerial tramways, to address urban mobility challenges. Many governments in the region have been investing in transportation infrastructure projects. Further, growing mountain resorts and winter sports in the region are boosting the market growth.

Region with highest CAGR:

Europe is projected to have the highest CAGR over the forecast period. Europe is known for its diverse and picturesque landscapes, which makes it a prime location for aerial tramways used in tourism. Some European cities like Barcelona, Lisbon, and Medellin have integrated aerial tramways as part of their public transportation systems. The market is competitive, with both established companies and emerging players vying for contracts. Companies like Doppelmayr/Garaventa, Leitner Group, and Poma are among the leading manufacturers in the region. The region's improved tramway technology further fuels the market demand.

Key players in the market:

Some of the key players profiled in the Aerial Tramway Market include: Leitner AG, Graventa Group, Bullwheel International, Riblet, Leitner-Poma, Hongji, SkyTrans Mfg, M&M Ropeways, Nippon Cable, POMA Group, Bartholet Maschinenbau AG, CWA Constructions SA, Ropeways Transport Limited and GMM-Pfaudler Limited.

Key Developments:

In November 2020, Amcor announced the development of the lightest 900-ml Polyethylene Terephthalate (PET) bottle for edible oil in Brazil. The custom-designed bottle for agribusiness and food producer Bunge in Sao Paulo is 22 percent lighter than other bottles while offering great sustainability benefits.

Products Covered:

• Gondola Lifts
• Chairlifts

Types Covered:

• Funicular Railway
• Reversible Aerial Tramway
• Pulsed Movement Aerial Ropeway
• Detachable Gondola Lift
• Combination Lift
• Other Types

Installation Types Covered:

• Detachable Installations
• Fixed Grip Installations

Capacity Types Covered:

• Two-passenger Capacity
• Four-passenger Capacity
• Six-passenger Capacity
• Other Capacity Types

Applications Covered:

• Mountain Sightseeing
• Harbour Sightseeing
• Urban Transportation
• Other Applications

Sales Channels Covered:

• Aftermarket
• Original Equipment Manufacturer
• Online Retail
• Direct Sales
• Distributors & Dealers

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances