The global passenger stairs market was valued at USD 298.6 million in 2019 and is projected to reach USD 386.0 million by 2027, expanding at a CAGR of 3.3% during the forecast period. In terms of volume, the market is projected to expand at 1.5% during the forecast period. Passenger stairs are a set of steps that provide passengers a traverse between doors and the ground. These stairs are safe, stable and efficient for the long run. The urban population across the globe require passenger stairs as they are mostly involved in the transportation to commute from one city to another. Some of the airlines use passenger stairs to reduce cost and turnaround time. The passenger stairs have smooth adjustment of the platform height and are available in the models with open and closed staircase. The passenger stair assembly is generally mounted on a self-propelled chassis with automatic transmission and diesel engine. The advent of newer technologies such as electric and hydraulic circuits in passenger stairs has increased its adoption across developed countries.
The increasing number of airports and airlines across the world as well as growing passenger journeys are some of the factors driving the growth of passenger stairs market. For instance, according to a recent data published by the World Air Transport Statistics, in 2018, China recorded around 4 billion origin-destination (O-D) passenger journeys. Thus, this is expected to increase the demand for passenger stairs in the long run. Moreover, rise in globalization is increasing air travel, which, in turn is steadily propelling the demand for passenger stairs. Furthermore, the emergence of new and technologically advanced passenger stairs is expected to provide significant growth opportunity to the market.
Conversely, factors such as presence of alternate travelling options and requirement of high investment for airline companies are the potential impediments for the passenger stairs market growth. Additionally, regular repair and maintenance required for this equipment increases operational costs, which is ultimately inhibiting the market growth.
Based on types, the global passenger stairs market has been categorized into self-propelled and towable passenger stairs. The towable passenger stairs segment is anticipated to witness substantial growth during the forecast period. The types segment of the global passenger stairs market is segmented according to the functional needs of the equipment, whether they run on an electricity/gasoline/diesel engine or they can be hand towed or drove. In terms of volume, the self-propelled segment is projected to account for a dominant share of the market, as these stairs are used to promote smooth aircraft services.
In terms of application, the passenger stairs market has been segmented into military, airport, construction, and others. The airport segment is estimated to expand at a highest CAGR during the forecast period due to the large demand for these stairs from airline companies. The demand for these stairs is projected to increase in the military segment due to the rise in the use of several aircraft and naval ships to increase military strength. The demand for airports in Western Europe, Asia Pacific, and North America is high owing to the increase in expansions and rise in the number of airports.
In terms of regions, the market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe held a market share of around 30.8% in 2019 and is anticipated to expand at lucrative growth rate during the forecast period. The high market share is attributed to the factors such as strong presence of market players and rising transportation of the global population in Europe. Moreover, Asia Pacific is expected to grow at highest CAGR from 2020 to 2027 as aviation sector facilitates a substantial amount of tourism in this region.
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Some frequently asked quetions about this report!
Additional company profiles can be provided on request.
Yes, the report covers product specific information such as self-propelled passenger stairs and towable passenger stairs.
According to this Growth Market Reports report, the market from passenger stairs is likely to register a CAGR of 3.3% during forecast period 2020-2027, with an anticipated valuation of USD 386.0 million by the end of the 2027.
In addition to market size (in USD Million), the report provides volume data (in units) for all the five regions.
The increasing number of airports & airlines, growing number of passenger journeys and introduction of technologically advanced passenger stairs are some of the factors driving the market growth.
Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.
The COVID-19 pandemic has negatively impacted the market growth during year 2019 -2020 to a major extent.
The base year considered for the global passenger stairs market report is 2019. The complete analysis period is 2017 to 2027, wherein, 2017 & 2018 are the historic years and the forecast is provided from 2020 to 2027.
Military, airport and construction industries are some of the end-users driving the market growth.
Major Manufactures include SINFONIA TECHNOLOGY CO., LTD., TIPS d.o.o., TLD (Alvest Group), Rosenbauer International AG., NMC-Wollard Inc., and JBT among others.
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