The moving walkways market is expected to grow at a CAGR of 5.40%, reaching a market size of US$212.330 million in 2029 from US$163.197 million in 2024.
Moving walkways are transportation systems that use a series of flat surfaces or conveyor belts to move people horizontally or at an inclined angle. Travellers can stand or walk on the moving walkways to move at a faster pace than normal walking. They are intended to facilitate the movement of people over long distances or to connect different areas within a facility, making travel more convenient and efficient. Moving walkways are typically found in airports, train stations, or large public spaces. The increasing investments in the construction of new shopping malls and the establishment of metro stations are the major driving forces behind the moving walkway market growth.
Market Drivers
Moving walkways act as a transportation device used in railway stations to help passengers quickly navigate long distances, such as from one end of a platform to another or between different sections of the station. Increasing foot traffic in railway stations increased the demand for these advanced moving walkways to reduce time and also help to smooth out the flow of foot traffic within the station, allowing for a more seamless travel experience. Therefore, the increasing investment in railway infrastructure contributes to the moving walkways market growth. For instance, according to the White House, President Biden is investing $16.4 billion from the bipartisan infrastructure law to repair and replace essential rail infrastructure along the northeast corridor to deliver a faster and more reliable traveller experience.
Moving walkways plays an essential role in metro stations as it helps to reduce congestion and allows for a smoother flow of people. Moving walkways helps passengers to cover longer distances within the metro station in less time and this is particularly beneficial in large metro stations with multiple platforms and connected levels. Due to these factors, there is a greater demand for moving walkways in the metro station thus, the establishment of new metro stations fuelled the moving walkways market growth. For instance, in January 2024, Systra Group inaugurated six new metro stations for the Cairo metro which serves the Imbaba district, one of the world's most densely populated, with nearly 500,000 people.
Moving walkways facilitates easy and convenient transportation for shoppers optimizes the flow of foot traffic, and enhances efficiency while navigating large shopping spaces. Shopping can be exhausting, especially when mall visitors have to travel long distances between stores, and moving walkways provide a comfortable and efficient way to move around, improving the overall shopping experience. Therefore, favorable investment in the establishment of new shopping malls increased the demand for moving walkways hence contributing to the market growth. For instance, in September 2023, Lulu Group International introduced its first Lulu hypermarket and the largest Lulu Mall in the capital of Telangana with an investment of Rs. 300 crores offering an international shopping experience to the people of Telangana.
Asia Pacific is expected to grow significantly
Asia Pacific is projected to constitute a considerable share of the moving walkways market due to the establishment of new shopping malls and favorable investment in railway infrastructure. For instance, in October 2023, Phoenix Mills Limited announced the launch of Phoenix Mall of Asia in Hebbal, Bengaluru, Karnataka spanning over 12 lakh square feet. Additionally, in July 2022, LuLu Group launched the biggest LuLu Mall in Lucknow, India with an investment of Rs. 2,000 crores over 2.2 million square feet offering an international shopping experience. Moreover, according to the Ministry of Railways, a new scheme for modernizing railway stations, the Amrit Bharat Station Scheme, this scheme identified 1275 railway stations across the country, including border areas, for development with a total expenditure of 1371.24 crores.
Market Restraints
Moving walkways requires regular maintenance to ensure safe and continuous operation. Power consumption, mechanical breakdowns, and sudden breakdowns all contribute to higher maintenance and operational costs, which can have an impact on their adoption in numerous sectors which may hinder the market growth.
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