Cable Cars and Ropeways Market Size, Share, and Trends 2024 to 2033

Cable Cars and Ropeways Market Size and Companies

The global cable cars and ropeways market size was USD 4.68 million in 2023, calculated at USD 5.20 million in 2024 and is expected to reach around USD 13.54 million by 2033. The market is expanding at a solid CAGR of 11.21% over the forecast period 2024 to 2033. The rising adoption of cable cars as an alternative travel medium in urban areas is driving the growth of the market.

Cable Cars and Ropeways Market Key Takeaways

• North America led the cable cars and ropeways market with the largest market share in 2023.
• Asia Pacific is expected to witness the fastest growth in the market during the forecast period.
• By industry, the tourism segment dominated the market in 2023.
• By sales channel, the OEM segment dominated the market in 2023.
• By type, the fixed grip installation segment dominated the market in 2023.

Cable Cars and Ropeways Market Overview

Cable cars have transport systems that have cables installed in them. Cable cars use the third running rope for propulsion and have one or two fixed ropes for support. It is often known as the streetcars that run above the ground level. The increasing travel and tourism industry is driving the demand for cable cars and ropeways to attract tourists, driving the expansion of the market. The rising demand for tourism all around the world post-pandemic and the technological advancements in the ropeways and zip-lining projects are further contributing to the growth of the cable cars and ropeways market.

Apart from tourism, cable cars and ropeways are also better for the environment when it comes to both construction and operation. Building ropeway in the hilly areasor over water bodies is more cost-effective than building bridges and roads. Slowly, apart from tourism cable cars are becoming regular mode of trasnportation in hilly areas.

Cable Cars and Ropeways Market Growth Factors

• The increase in tourism activities all around the world and the surging expenditure on the development of the travel and tourism industry are driving the expansion of the cable cars and ropeways market.
• The increasing tourism in the hilly or mountain region drives the demand for well-equipped infrastructure that creates convenience for travelers and drives the demand for cable cars or ropeways.
• Cable cars or ropeways are more convenient for tourists to hike or go upwards to the mountains than hiking, which takes more time to cover the distance and takes more effort, which creates the demand for the market.
• The increasing demand for the rapid and easy-to-construct, disassemble, and operate technology for transporting people in hilly or mountaineer tourist places drives the expansion of the market.
• The increasing investment in the development of tourism activities by installing the attractive technology, offering, products, for the tourist’s attraction that drives the growth of the cable cars and ropeways market.

Cable Cars and Ropeways Market Scope

Cable Cars and Ropeways Market Dynamics

Driver

Increasing global tourism activities

Rising global tourism activities are driving the demand for cable cars in the market. Cable cars provide excellent offerings to tourists; they have multiple functions like access systems, attractions of their own, means of connection, and transportation goals. Various major tourist spots are equipped with cable cars to enhance the tourist experience and expectations from the viewpoint. Cable cars create opportunities in the travel industry. There are several other advantages to other modes of transport; it emits low carbon footprints, though it creates low environmental impacts compared to other modes of operation.

The cable car also helps maintain the beauty of nature because it eliminates the need to build roads, which helps preserve the beauty of nature; the cost of the construction of cable cars is much more affordable than building roads on the land surface. Thus, all these factors are driving the growth of the cable cars and ropeways market.

• For instance, according to the World Travel and Tourism Council, thetravel and tourism industry contributed 9.1% to the global GDP in 2023 which was 23.2% higher than 2022. There were 27 million new jobs in 2023 in tourism industry which were 9.1% higher than 2022.

Restraint

Stringent regularities

The expansion of the cable cars and ropeways market is being hampered by stringent safety regulations imposed by regional governments. While these regulations are intended to ensure the safety of passengers, they often result in increased costs and lengthy approval processes for new installations. The complexity of compliance and the need for extensive safety testing and documentation present significant barriers to entry for companies looking to expand or enter the cable cars and ropeways market. As a result, potential investors and operators may be discouraged from pursuing projects in areas with strict regulations. Finding a balance between ensuring safety and facilitating industry growth is crucial.

Collaborative efforts between industry stakeholders and regulators to streamline the approval process while maintaining high safety standards could help alleviate these challenges and encourage the expansion of the cable cars and ropeways market.

Opportunity

Continuous development in cable cars

The technological advancements in cable cars and the electrification of cable cars are driving opportunities for growth in the market. The rising awareness about environmental pollution is driving the adoption of electrical cable, though cable cars are more cost-effective, efficient, and environmentally friendly. Many cities are adopting cable cars for daily transportation, which is also driving the growth of the cable cars and ropeways market. Additionally, the rising market competition, the entry of new market players in cable car manufacturing, and the ongoing research and development activities in the technological advancements in cable cars and ropeways are further contributing to the growth of the cable cars and ropeways market.

• For instance, in April 2024, Faber Leisure Group launched futuristic SkyOrb cable cars. It is the world's first chrome-finished cabin with a spherical shape. It comes with fitted glasses on front, back and bottom to elevate the experience of cable car riding and tourism.

Industry Insights

The tourism segment dominated the cable cars and ropeways market with the highest market share in 2023. The rapid growth in tourism activities post-pandemic is highly contributing to the expansion of the market. Cable cars provide scenic views from the trolly that enhance the tourist experience. Cable cars and ropeways are used as a strategy to improve tourism by attracting people. There are various tourist places equipped with cable cars for hiking the mountains or hilly areas. There are a number of tourist places that use cable cars for tourist facilities. For instance: Teleferik Alanya in Turkey, Bursa Teleferik in Turkey. Additionally, the surging expenditure on tourism by the population is driving the growth of the tourism industry, which further contributes to the growth of the cable cars and ropeways market.

• For instance, in October 2023, tandem sky rope with a 360-degree swing hammock cable car was launched in Sukute. The purpose of this launch was to draw more tourits.

Sales Channel Insights

The OEM (Original Equipment Manufacturer) segment dominated the cable cars and ropeways market with the largest share in 2023. OEM is also known as the original equipment manufacturer. It works as a value-added service, though its products or components are used in the company. The OEM competes with the aftermarket, generic, and replacement parts. OEM is different from the original design manufacturing (ODM). It is the private labeling for manufactured parts. The original equipment manufacturer works with the business-to-business sales, and it often competes with the aftermarket replacement parts after the component or product is sold to the customer.

Type Insights

The fixed grip installation dominated the cable cars and ropeways market in 2023. The growth of the segment is attributed to the wide acceptance of fixed grip installation in cable cars and ropeways due to its efficient operations, low maintenance, and higher safety. It is the type of cable car or ropeways that are permanently clamped to the rope and are not removed in the station. There are three major types of ropeways that are draglifts, fixed grip chairlifts, and pulsed gondola ropeways. The fixed grip chairlifts are one of the oldest and most highly used cable cars or ropeways for their longer lifecycles, robust engineering, and lower maintenance. It can carry 2 to 4 passengers at a time.

• In January 2024, Udaipur, India, announced the launch of new rope way. The ropeway runs on mono cable fixed grip system and has a capacity to carry 400 passengers per hour.

Regional Insights

North America led the cable cars and ropeways market in 2023. The growth of the market is attributed to the rising development in the tourism industry and the rising investment in the development of tourism infrastructure by the government to attract tourists, and the expansion of tourism activities is driving the growth of the market. The growing population and the rising adaptation of cable cars and ropeways as the transportation medium in urban cities are driving the demand for the cable cars and ropeways market. Most of the regional states are experiencing cold and heavy snow, which expands the tourism activities and demand for cable cars and ropeways. Thus, all these factors are driving the growth of the cable cars and ropeways market.

Asia Pacific is expected to witness the fastest growth during the forecast period. The growth of the market is attributed to the rising investment in the tourism industry and the rising demand for cable cars in the country like India which expanding its tourism industry and demand for the cable cars in religious places and mountain areas, and hill stations are driving the growth of the cable cars and ropeways market.

• According to the Indian Ministry of Tourism, there were 6191399 foreign tourist arrivals in India from across the world in 2022 among which the U.S. contributed 22.19% followed by Bangladesh with 20.29% share.
• For instance, Hong Kong’s popular cable car is again gaining popularity after the post-pandemic and the robust bounce back of the tourism industry. Southeast Asia is regaining 95% of its business recovery.

Cable Cars and Ropeways Market Companies

• Doppelmayr/Garaventa Group
• Leitner Group
• Leitner-Poma of America
• MND Group
• Bartholet Maschinenbau AG (BMF)
• Nippon Cable Co. Ltd.
• CONVEYOR & ROPEWAY SERVICES PVT. LTD.
• Damodar Ropeways & Infra Ltd.
• STM TELEFERIK
• CCM FINOTELLO SRL

Cable Cars and Ropeways Market Recent Developments

• In May 2024, the Jordan Group for Free Zones and Development Zones announced the launch of its latest website for the Ajloun cable car, a digital platform for tourists to enjoy easy access to booking information, identified browsing experience, and attractive participation for the use of foreign and citizen tourist.
• In May 2024, Singapore Cable Car (SCC) is collaborated joining hands with Hello Kitty cable car cabins from June 1 to December 31 along with the Mount Faber Line from Mount Faber Peak to Sentosa. All the 67 cabins are designs with the Hello Kitty theme. 

Segments Covered in the Report

By Industry

• Tourism
• Material Handling
• Public Transportation
• Mining Industries

By Sales Channel

• OEM (Original Equipment Manufacturer)
• Aftermarket

By Type

• Fixed Grip Installations
• Drag Lifts
• Fixed Grip Chairlifts
• Pulsed Gondola Ropeways
• Detachable Installations
• Detachable Chairlifts
• Mono Cable Detachable Gondola Lifts
• Telemix Combined Detachable Chairlift And Gondola Lift
• Bicable (2S) & Tricable (3S) Gondola lifts
• Aerial Tramway
• Funicular

By Geography

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East & Africa