The automatic platform screen door system is designed to improve passenger safety and security in metro and rail transit stations. It consists of a sliding glass doors that fully or partially close the opening between the platform and the train. This prevents accidental or intentional falls onto the tracks, as well as delay due to passenger congestion on the platform. The global automatic platform screen doors market is estimated to be valued at US$ 13217.13 Mn in 2023 and is expected to exhibit a 18.% CAGR over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity: The increasing need for passenger safety is offering high growth opportunities for the automatic platform screen doors market. The rising instances of accidents at metro and railway stations due to falling or pushing of passengers onto the tracks have highlighted the need for advanced safety systems. According to a report published by International Transport Forum, around 550 people lose their lives each year globally in accidental track incursions at stations. Platform doors provide a highly effective solution by preventing such incidences and enhancing overall passenger security. This is expected to significantly drive the demand for automatic platform screen doors over the forecast period.
Porter's Analysis
Threat of new entrants: The threat of new entrants is moderate due to the requirement of high initial capital investment for R&D and manufacturing of automatic platform screen doors.
Bargaining power of buyers: The bargaining power of buyers is moderate due to the availability of substitutes like semi-automatic platform screen doors.
Bargaining power of suppliers: The bargaining power of suppliers is low due to the availability of a large number of suppliers for raw materials and components.
Threat of new substitutes: The threat of new substitutes is low as automatic platform screen doors have better functionality and safety compared to alternatives.
Competitive rivalry: High due to the presence of numerous global and regional players competing on the basis of product quality, price, innovation, and service.
SWOT Analysis
Strengths: Safety benefits, higher revenue for rail operators due to increased platform capacity, and support for modernization of metro and rail stations.
Weaknesses: High maintenance costs, need for replacement of components after extended usage, and requirement of regular power supply.
Opportunities: Growth in metro and rail projects in developing regions, integration of smart technologies, and demand in airports.
Threats: Macroeconomic slowdowns reducing passenger traffic and revenue, disruption from COVID-19 pandemic, and availability of low-cost alternatives.
Key Takeaways
The Global Automatic Platform Screen Doors Market Growth is expected to witness high over the forecast period. Asia Pacific dominates the market and is expected to continue its dominance in terms of market share. China is the largest market in the region followed by Japan and India.
Regional analysis for Asia Pacific comprises the presence of large metro networks in major economies, increasing urbanization and smart city development initiatives to decongest traffic, growing investments in rail infrastructure modernization, and rising focus on passenger safety and crowd management.
Key players operating in the automatic platform screen doors market are CSL Behring LLC, Takeda Pharmaceutical Company Limited, Ionis Pharmaceuticals, Inc., Pharming Technologies B.V., Centogene AG, BioCryst Pharmaceuticals, and KalVista Pharmaceuticals, Inc. These companies focus on expanding their geographical presence and upgrading product portfolios through strategic acquisitions and partnerships.
Explore more information on this topic, Please visit-
https://www.dailyprbulletin.com/automatic-platform-screen-doors-market-share-size-and-growth-share-trends-analysis-demand-forecast/
Explore more trending article related this topic:
https://allmeaninginhindi.com/guardians-of-code-fortifying-your-application-against-digital-intruders/
Comments
0 comment