Increase in focus on public safety and improved transport infrastructure & security system have proliferated the growth of the global platform screen door system market
PORTLAND, Ore., Nov. 11, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Platform Screen Door System Market by Product Type (Full Height, Semi Height and Half Height) and Application (Metro, Airport and Bus Stop): Global Opportunity Analysis and Industry Forecast, 2017–2026." According to the report, the global platform screen door system industry 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.
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Key determinants in the market-
Rise in focus on public safety and improved transport infrastructure & security system augment the growth of the global platform screen door system market. Whereas, high initial investment and refurbishment of currently deployed safety system impede the market growth. Nevertheless, rise in demand for safe, secure, and efficient systems and advancement in transportation infrastructure in developing nations usher a number of opportunities in the near future.
- Due to the lockdown and restrictions imposed by the government bodies, the manufacturing and supply chain management were halted.
- The platform screen door system are proving to be useful to avoid physical contacts and curb the spread of coronavirus.
- Also, in several regions, the key market players have restarted manufacturing procedures at a slower pace, as the government has nodded to restart the businesses in order to maintain economic benefits.
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The full height segment would dominate the market throughout 2026-
Based on product type, the full height segment contributed to the largest share in 2017, accounting for more than half of the global platform screen door system market, and is estimated to maintain its dominant position during the forecast period. This is due to the factor that full height doors are used to segregate the platform from the track to ensure passenger safety as well as provide a better aesthetic view of platform along with optimizing platform air conditioning. However, the half height segment is expected to register the highest CAGR of 6.6% from 2020 to 2026. The half- height platform screen doors help in proper ventilation within the transit stations, which drive the growth of the segment.
The metro segment would lead the trail throughout the forecast period-
Based on application, the metro segment accounted for the largest share in 2017, holding more than four-fifths of the global platform screen door system market, and is expected to maintain the largest share throughout the forecast period. Platform screen doors systems are widely adopted by metros as it increases the aesthetics of the platform. However, the airport segment is estimated to portray the highest CAGR of 8.5% during the forecast period. The platform screen doors at the airports are used to differentiate between the departure and arrival terminals of the airport, which drives the segment growth.
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Asia-Pacific to lead the trail, North America to grow at a significant pace by 2026-
Based on region, Asia-Pacific contributed the highest share, accounting for nearly half of the global platform screen door system market share in 2017, and will maintain its dominance throughout the forecast period. Asia-Pacific countries are more inclined towards the adoption of latest technologies and continuously upgrading their infrastructure. This factor drives the growth of the market in this region. However, LAMEA is expected to grow at the highest CAGR of 7.0% from 2020 to 2026. This is due to rise in investments to upgrade the existing infrastructure in LAMEA region. Moreover, North America is anticipated to portray the CAGR of 3.1% by 2026.
Leading market players-
- Shanghai Jiacheng Railway International
- Toshi Automatic Systems Pvt. Ltd.
- Faiveley Transport
- Gilgen Door Systems AG.
- Fangda Group
- Horton Automatics
- Panasonic Corporation
- Stanley Access Technologies LLC.
- Westinghouse Electric Corpora.
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