Portland, OR, Oct. 12, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global airport moving walkway systems market generated $4.15 billion in 2019, and is expected to reach $5.13 billion by 2027, growing at a CAGR of 3.0% from 2020 to 2027. The report provides a detailed analysis of changing market trends, major segments, key investment pockets, Porter’s Five Forces, value chain, and competitive scenario.
Increase in adoption of moving walkways with technological advancements, surge in number of air travelers, and expansion activities of airports propel the global airport moving walkway system market. However, high cost of installation and maintenance hinder the market growth. On the other hand, focus on energy efficient systems offer new pathways in the coming years.
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Covid-19 Scenario
- The operations including installation of new systems and maintenance of the airport moving walkway systems have come to halt due to the lockdown.
- The ban on traveling across national and international destinations during the coronavirus pandemic reduced the demand for new moving walkway systems.
The report offers a detailed segmentation of the global airport moving walkway system market based on business type, type, angle, and region.
In terms of business type, the new installations segment held for more than two-fifths of the total market in 2019, and is estimated to maintain its leadership position during the forecast period. However, the maintenance segment is expected to witness the largest CAGR of 3.7% from 2020 to 2027.
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Based on type, the belt type segment would witness the highest CAGR of 3.6% from 2020 to 2027. However, the pallet type segment accounted for more than four-fifths of the global airport moving walkway system market in 2019, and is expected to contribute its leadership status throughout the forecast period.
Based on region, Asia-Pacific held the largest share in terms of revenue, generating for nearly two-fifths of the total share of the market in 2019, and is expected to continue its lead during the forecast period. However, LAMEA is expected to maintain the highest CAGR of 4.3% from 2020 to 2027.
The report offers a detailed analysis of leading players operating in the global airport moving walkway systems market. They include Analogue Holdings Limited (ATAL Engineering Group), Thyssenkrupp AG, Fujitec Co., Ltd, Hyundai Elevator Co., Ltd., Hitachi, Ltd., Mitsubishi Electric Corporation, Kone Corporation, Schindler, United Technologies, and Stannahare.
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About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.