The global platform screen door system market was valued at $630.00 million in 2017, and is projected to reach $1,010.00 million by 2026, registering a CAGR of 5.2%. Asia-Pacific was the highest revenue contributor, accounting for $295.16 million in 2017, and is estimated to reach $503.79 million by 2026, with a CAGR of 6.0%.
Platform screen door system is a type of barrier that is installed at transit stations, which acts as a barrier between the passenger and the transit area such as platforms or airport runways. Platform screen door systems are intended to provide safety and security to the passengers; thus, reducing the chance of accidents caused due to human intervention. They are a form of new addition to the transit stations across the globe and continuous developments have been made to provide a better version of platform screen doors system to reduce accidents. Numerous developments have been carried out by companies across the globe for introducing advanced platform screen doors, which leads to its wider adoption. Also, with the development in railway and other infrastructure, platform screen doors find a wider application, which effectively leads to the growth of the global platform screen door system market.
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Major Market Players:
- Faiveley Transport
- Fangda Group
- Gilgen Door Systems AG.
- Horton Automatics
- Panasonic Corporation
- Jiacheng Railway International
- Stanley Access Technologies LLC.
- Toshi Automatic Systems Pvt. Ltd.
- Westinghouse Electric Corporation.
The global platform screen door system market has been supplemented by factors such as the rising need for public safety and massive transportation infrastructure developments. Moreover, high capital requirement and refurbishment of existing safety system are the factors that hamper the growth of the global platforms screen door system market. However, rise in demand for safe, secure, & efficient transport system and improvement in railway infrastructure in developing countries are the factors that increase the demand for platform screen doors to be installed at transit stations; thus, leading to the growth of the global platform screen door system market.
The global platform screen door system market is segmented into product type, application and region. By product type, the global system market has been categorized into full height, semi height and half height type of platform screen doors. By application, the global platform screen door system market has been classified into metro, airport and bus stop. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Market Segments
- By Product Type
- FULL HEIGHT
- SEMI HEIGHT
- HALF HEIGHT
- By Application
- BUS STOP
- By Region
- NORTH AMERICA
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East
- NORTH AMERICA
The governments across the globe are focused on improving the transportation structure and safety & security system of their respective countries. This increased focus has enabled numerous countries to upgrade their existing safety and security system through various contracts and agreements carried out by top manufacturers. Recently, transit station upgradation projects are being carried out across the globe for the installation of automatically operated platform screen door system to ensure safety and security of the passengers. For instance, despite availability of platform screen doors at transit stations of Brazil, the government is anticipated to introduce platforms screen door system at all the stations by the end of 2021. Also, platform screen doors are being installed at the driverless metro lines of Greece and are expected to be completed by November 2020. This increases the adoption rate of such systems at a higher rate, which supplements the growth of the global market.
Transportation can be considered as the enabler of economic progress owing to rise in use of public transport services as a solution to minimize traffic congestions coupled with the cheapest and safest mode of transportation. However, one of the key restraints of the platform screen door system market is the capital-intensive nature of the market, as the cost of installation is significantly high. For instance, in 2018, Indian railway decided to install platform screen door system at the stations of Maharashtra metro to reduce accidents and suicides. This entire budget was expected to reach around $26.10 million. This indicates the requirement of high capital to build as well as to maintain the safety network, which is expected to hamper the market growth.
According to the fact sheet of the World Health Organization (WHO), there are a majority of accidents that are caused due to an individual coming in contact with the transit vehicle such as metros or buses. This is due to increased demand for passengers using different metro and bus services. This increased trend toward the access of public transport has caused many causalities at transit stations, which has increased the need for platform screen doors to be present at these places. Also, advancements in technology and infrastructure upgradation have led to the demand for safe, secure and efficient system to be installed at different stations, which significantly contributes toward the growth of the global platform screen door system market.
Key Benefits For Stakeholders
- This study presents the analytical depiction of the global platform screen door system market analysis along with the current trends and future estimations to depict imminent investment pockets.
- The overall platform screen door system market opportunity is determined by understanding profitable trends to gain a stronger foothold.
- The report presents information related to the key drivers, restraints, and opportunities of the global platform screen door system market with a detailed impact analysis.
- The current platform screen door system market is quantitatively analyzed from 2017 to 2026 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
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