Portland, OR, Dec. 14, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global airport moving walkway system market was estimated at $1.95 billion in 2020 and is expected to hit $2.95 billion by 2030, registering a CAGR of 4.0% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Growing need for moving walkways, increase in number of air travelers, and expansion of existing airports drive the growth of the global airport moving walkway system market. On the other hand, high cost of installation and high maintenance impede the growth to some extent. However, surge in focus on energy efficient systems is expected to create lucrative opportunities in the industry.
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COVID-19 scenario-
- The travel bans across the world, especially during the initial phase of the pandemic, gave way to decreasing sales of moving walkway systems installed in airports. This impacted the global airport moving walkway system market negatively.
- However, as the global situation gets better, the market is anticipated to recoup.
The global airport moving walkway system market is analyzed across business type, type, angle, and region. Based on business type, the new installation segment accounted for the major share in 2020, holding more than two-fifths of the global market. The maintenance segment, on the other hand, would exhibit the fastest CAGR of 4.5% throughout the forecast period.
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Based on system type, the pallet segment generated the highest share in 2020, accounting for more than four-fifths of the global market. The belt segment, however, is projected to manifest the fastest CAGR of 4.5% from 2021 to 2030.
Based on region, the market across Asia-Pacific held the lion’s share in 2020, garnering more than two-fifths of the global market. The LAMEA region, however, is expected to cite the fastest CAGR of 5.4% by the end of 2030. The other regions studied in the report include Europe and North America.
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Top Manufacturers:
The key market players analyzed in the global airport moving walkway system market report include Fujitec Co., Ltd, Toshiba Elevator and Building Systems Corporation, Hyundai Elevator Co., Ltd., Stannah, Kone Corporation, Mitsubishi Electric Corporation, Hitachi, Ltd., Raytheon Technologies Corporation, Schindler, Analogue Holdings Limited. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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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 domain.
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