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Global Passenger Stairs Market Expected to Reach USD 386.0 Million by 2027


Global Passenger Sta

iCrowdNewswire   Jan 12, 2021  10:00 AM ET

39_Global Passenger Stairs Market Key Takeaways

According to a recent market study published by Growth Market Reports (GMR), titled, “Global Passenger Stairs Market by Type, Application, and Region: Size, Share, Trends and Opportunity Analysis, 2017-2027”, the market was valued at USD 298.6 million in 2019 and is expected to grow at a healthy growth rate of 3.3% by the year 2027. In terms of volume, the global passenger stairs market is estimated to grow at 1.5% during the forecast period. The global passenger stairs market is anticipated to grow owing to rising use of passenger stairs in the places such as airport, construction and military. Furthermore, factors such as increasing air traffic, growth in the number of aircraft deliveries worldwide, and rise in terminal expansions & modernization are expected to fuel the market growth during the forecast period.

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The global passenger stairs market is fragmented based on type, application, and region. Based on type, the passenger stairs market is bifurcated into self-propelled and towable passenger stairs. On the basis of application, the passenger stairs market is segregated into military, airport, construction, and others. Based on region, the global passenger stairs market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, Asia Pacific is further segmented into, India, China, South Korea, Australia, Japan, and Rest of Asia Pacific. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe, and the MEA region is further divided into GCC, South Africa, and Rest of Middle East & Africa (MEA).

In year 2020, the growth of passenger stairs market is expected to decrease significantly. The passenger stairs are mostly used on the airport for the travel between ground and door. The partial and complete lockdowns across the globe during this Covid-19 pandemic has resulted in the decline of outdoor outings of a large population pool. Moreover, the outbreak of Covid-19 has completely stopped the airlines across various countries. Thus, the passenger stairs market is anticipated to witness slow growth from 2020 to 2021. Furthermore, as significant market revenue is generated through the airlines sector, the product adoption is expected to decline in the near future.

As per GMR industry analyst Rajat Verma, “The Global Passenger Stairs Market is anticipated to witness significant growth during forecast period 2021-2027 driven by rising number of technologically advanced passenger stairs. Moreover, expansion of existing airports and burgeoning number of new airlines & airports across the globe are some of the factors driving the market growth. However, factors such as increase in the number of automated (aerobridge) systems and requirement of regular repair and maintenance for passenger stairs are expected to hinder the market growth during the forecast period.

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Key Takeaways from the Study:

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Report Scope:

Report Metric

Details

Market Value in 2019

USD 298.6 Million

Market Growth Rate (from 2021 to 2027)

3.3%

Historical Data

2017 & 2018

Base Year

2019

Forecast Period

2020 – 2027

Units Considered

Value (USD Million) & Volume (Units)

Market Segments

By Type , By Application

Regional Scope

North America, Europe, Latin America, Asia Pacific, Middle East & Africa (MEA)

Country Scope

U.S., Canada, Brazil, Mexico, Rest of Latin America, India, China, Japan, South Korea, Australia, Rest of Asia Pacific, U.K., France, Germany, Italy, Spain, Russia, Rest of Europe, GCC, South Africa, and Rest of MEA.

Key Companies Profiled

JBT, Guangtai, TLD (Alvest Group), Mallaghan, Rosenbauer International AG., SINFONIA TECHNOLOGY CO., LTD., TIPS d.o.o, NMC-Wollard Inc, BlissFox (Panus Assembly Co. Ltd.), Fast Global Solutions, Nandan GSE Pvt. Ltd, Sovam, Ersel Technology, KCIGSE, Clyde Machines, Inc, ANGELO BOMBELLI COSTRUZIONI METALLICHE SRL, Equipos Industriales de Manutener SA (EINSA), Excel Group of Companies, FRANKE-AeroTec GmbH, Kruckeberg Industries, Inc. and Stinar Corp, LAS-1, TBD Owen Holland Ltd, DENGE – Ground Support Equipment Manufacturer (GSE), ZODIAC EQUIPMENT spol. s r.o., Jiangsu Tianyi Airport Special Equipment Co., Ltd, Darmec Technologies S.r.l., MP Industries, INC, Rucker

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

Target Audience:

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