Portland, OR, July 08, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global platform screen door system market generated $630.00 million in 2017, and is estimated to reach $1.01 billion by 2026, registering a CAGR of 5.2% from 2020 to 2026. The report offers an extensive analysis of changing market trends, key winning strategies, business performance, top impacting factors, and competitive scenario.
Increase in focus on public safety and improved transport infrastructure & security system drive the growth of the global platform screen door system market. However, high initial investment and refurbishment of currently deployed safety system hinder the market growth. On the other hand, increase in demand for safe, secure, and efficient systems along with development in transportation infrastructure in developing nation create new opportunities in the coming years.
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Covid-19 Scenario:
• The demand for platform screen door system will be reduced for few months of coronavirus pandemic due to the operational halt in the transport sector.
• During the pandemic, the platform screen door system has been proved useful to avoid physical contacts with doors and control the transmission at metro stations, airports, and bus stop.
• However, the manufacturing activities have been halted by manufacturers due to the restrictions by the governments during the global lockdown.
The report offers a detailed segmentation of the global platform screen door system market based on product type, application, and region.
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Based on product type, the full height segment contributed to the largest share in 2017, accounting for more than half of the total share, and is estimated to maintain its dominant position during the forecast period. However, the half height segment is expected to register the highest CAGR of 6.6% from 2020 to 2026.
Based on application, the metro segment accounted for the largest share in 2017, holding more than four-fifths of the total share, and is expected to maintain the largest share throughout the forecast period. However, the airport segment is estimated to portray the highest CAGR of 8.5% during the forecast period.
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Based on region, Asia-Pacific contributed the highest share, accounting for nearly half of the total market share in 2017, and will maintain its dominance throughout the forecast period. However, LAMEA is expected to grow at the highest CAGR of 7.0% from 2020 to 2026.
Leading market players analyzed in the platform screen door system market research include Faiveley Transport, Gilgen Door Systems AG., Fangda Group, Horton Automatics, Panasonic Corporation, Manusa, Shanghai Jiacheng Railway International, Toshi Automatic Systems Pvt. Ltd., Stanley Access Technologies LLC., and Westinghouse Electric Corpora.
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