Persistence Market Research released a new market study on the platform screen doors market, which includes the global industry analysis 2014–2018 and forecast 2019–2029. The report studies the global platform screen doors market and offers an in-depth analysis for the next ten years. The report on the global platform screen doors market contains vital macroeconomic and forecast factors that are estimated to drive the growth of the global platform screen doors market. The report on the platform screen doors market also discusses restraints that are expected to hamper the global market, along with potential opportunities and latest trends in the market across the value chain.
The global platform screen doors market was valued at ~ US$ 600 Mn in 2014, and is expected to surpass US$ 800 Mn by the end of 2019. The platform screen doors market is expected to grow at a CAGR of ~ 7% between 2019 and 2029, and is estimated to reach a global value of ~ US$ 1,700 Mn by the end of 2029.
New Metro Stations to Lead the Way in Platform Screen Doors Market
By product type, the global platform screen doors market is segmented into semi height, half height, and full height. Full height type platform screen doors are used only for underground metro train stations. However, semi height type platform screen doors can also be installed in underground metro train stations, however, they are not as efficient as full height type platform screen doors because they do not fully cover the station up to the ceiling. Moreover, for elevated metro train stations, half height type platform screen doors can enable passengers to enter the metro train.
By station type, the platform screen doors market is segmented into new metro stations and old metro train stations. The new metro train station segment is estimated dominate the global market owing to a rapid increase in the number of metro train projects across the globe. The inherent aim behind the installation of platform screen doors is to provide safety to passengers. To do this, the railway ministries of various countries are installing platform screen doors at old metro train stations. However, half height type platforms screen doors are mostly being installed in old metro stations as their cost is lower than full height and semi height type platforms screen doors.
By platform type, the global platform screen doors market is segmented into one platform, two platform, and more than two platform. The two platform screen doors segment is projected to dominate throughout the forecast period. For these types of platforms, PMR has assumed that PSD doors are installed only on one side of platforms.
By region, the platform screen doors market has been segmented into seven regions, namely North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa. In these regions, East Asia and Europe are estimated to grow with a paramount share in the global platform screen doors market over the stipulated time period. However, North America and South Asia are also representing a healthy potential for the platform screen doors market owing to the rising cognizant of automated metro trains. Interestingly, platform screen doors are mainly used for automated metro trains.
Emerging Players to Account for 30% Revenue Shares
The global platform screen doors market is characterized as consolidated owing to the presence of a limited number of manufacturers of platform screen doors across the globe. For in-depth analysis, PMR has broken down the market structure up to three levels: Tier 1, Tier 2, and Tier 3. Here, emerging players are estimated to account for a 30% share in the global market and generate ~ US$ 200 Mn revenue through the sales of platform screen doors across the world. Moreover, leading players in the global market are adopting business expansion, acquisition, and collaboration strategies in a bid to capture a significant share of the global market.
In 2018, Knorr-Bremse AG acquired 100% know-how and intellectual property rights of rail vehicle systems from Federal-Mogul to develop and produce friction materials
In2018, Singapore Technologies Engineering Ltd. established a new subsidiary dedicated to electronic components in China, to provide better local support for its metro rail and intelligent transportation projects
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