Global Platform Screen Doors Market growing at a CAGR of 6.5% from 2023 to 2030
Category : Machinery and Equipment | Published Date : Jun 2023 | Type : Press Release
Key Market Overview
The platform screen doors market is poised for strong expansion and is projected to reach USD 1,638.67 million by 2030. The market was sized at USD 997.80 million in 2022 and is predicted to grow at a compound annual growth rate of 6.5% during the period 2023-2030.
The report highlights the increasing adoption of platform screen doors at metro stations and airports to enhance the safety and security of passengers. Consegic Business Intelligence provides an inclusive research report on the platform screen doors market that evaluates multiple factors, such as market size, value, supply chain, regulatory environment, and trends.
Global Platform Screen Doors Market By Overview
Consegic Business Intelligence provided an inclusive research report on the platform screen doors market that evaluates multiple factors, such as market size, value, supply chain, regulatory environment, and trends. Airports are projected to witness the fastest CAGR in the platform screen doors market during the forecast period. The growth of the market is attributed to the increasing air passenger traffic that raises the demand of passenger screen doors for enhanced safety measures and improved passenger flow management. Additionally, the government is also investing heavily in improving the infrastructure of the airports by initiating several projects to accommodate growing passenger numbers and improve operational efficiency, thus contributing notably in spurring the growth of the market.
Get Free SampleMarket Dynamics
Driver:
- Increasing investment by governments to enhance passenger safety and security is driving the growth of the platform screen doors market.
- Rising urban passenger mobility at subway stations increases the demand for PSDs to manage large crowds and improve passenger flow.
- The ability of platform screen doors to mitigate noise, wind, and temperature variations, improving passenger comfort is driving the growth of the market.
Restraints:
- High manufacturing and maintenance cost associated with platform screen doors is restraining the market growth.
- Increasing reliance of platform screen doors (PSDs) on power to operate effectively is impeding the growth of the market.
Market Segmentation:
| Report Attributes | Report Details |
| By Product Type | Full-Height, Semi-Height, and Half-Height |
| By Application | Airport, Metro, and Bus Stop |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Competitive Landscape :
The landscape for the platform screen doors market is highly competitive with major players including Manusa, Wabtec Corporation, Siemens, and Nabtesco Corporation that have a strong market position in current market circumstances. Further, the Platform Screen Doors market is expected to witness significant growth in coming years owing to the increasing investments by the government to offer convenience to passengers. The market players compete for a firm market position through mergers and acquisitions, product innovations, and business strategies. Thus, evolving research and developments in the platform screen doors market are expected to help market players adopt innovative ways of product creation to cater to the growing needs of various end-use industries.
- KTK Group Company Ltd.
- Pioneer-Fangda Metro Consortium
- Fangda Group Co., Ltd.
- Horton Automatics Ltd
- Knorr-Bremse AG
- Manusa
- Wabtec Corporation
- Siemens
- Nabtesco Corporation
- Nanjing Kangni Mechanical & Electrical Co., Ltd.
- SHANGHAI ELECTRIC GROUP CO., LTD
- ZITIN CORPORATION
- Zhuzhou CRRC Times Electric Co. Ltd.
