Platform Screen Doors Market to Grow at 6.5% CAGR (2023-2030), Driven by Enhanced Traveler Safety & Security, and major participants includes are KTK Group Company Ltd., Pioneer-Fangda Metro Consortium, Fangda Group Co., Ltd., Horton Automatics Ltd, Knorr-Bremse AG, Manusa, Wabtec Corporation, Siemens, Nabtesco Corporation, Nanjing Kangni Mechanical & Electrical Co., Ltd., SHANGHAI ELECTRIC GROUP CO., LTD, ZITIN CORPORATION, Zhuzhou CRRC Times Electric Co. Ltd.
New York, June 27, 2023 (GLOBE NEWSWIRE) -- According to the research report “Global Platform Screen Doors Market” published by Consegic Business Intelligence, the market was sized at USD 997.80 million in 2022 and is expected to reach over USD 1,638.67 million by the year 2030, growing at a CAGR of 6.5%.
Platform Screen Doors (PSDs) also termed platform edge doors function as a physical barrier between the platform and the tracks to enhance passenger safety and to improve the efficiency of train operations. Additionally, platform screen doors consist of transparent panels made of sturdy materials including glass and polycarbonate. Additionally, the panels are installed along the platform edge, and upon arrival of the train, the platform screen doors slide open simultaneously with the train doors, allowing passengers to board and alight safely.
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The increasing investment by governments across the globe to improve transportation systems and to accommodate growing passenger volumes serves as the major factor responsible for driving the growth of the platform screen door market. Investments are made in modernizing and upgrading the existing stations and also in constructing new stations. The inclusion of platform screen doors is a critical component of such projects as governments prioritize passenger safety and security. In conclusion, the increasing initiatives by governments worldwide in upgrading the infrastructure to offer convenience and safety to passengers is driving the growth of the platform screen doors market. For instance, in April 2023, Sydney Metro City installed 288 platform screen doors at Martin Place, Crows Nest, Sydenham, Victoria Cross, Waterloo, Pitt Street, and Barangaroo. The doors are installed to improve passenger safety and travel efficiency by enabling trains to get in and out of the station rapidly.
Moreover, the integration of PSDs with smart transportation systems to gather real-time data on passenger flow, platform utilization, and train schedules is expected to create opportunities for the growth of the market. The data collected is analyzed to optimize operations, improve passenger flow management, and enhance overall system efficiency. However, the inability of platform screen doors to function efficiently in areas of inadequate power is restraining the growth of the market.
|Report Attributes||Report Details|
|Market Size By 2030||USD 1,638.67 Million|
|Key Players||KTK Group Company Ltd., Pioneer-Fangda Metro Consortium, Fangda Group Co., Ltd., Horton Automatics Ltd, Knorr-Bremse AG, Manusa, Wabtec Corporation, Siemens, Nabtesco Corporation, Nanjing Kangni Mechanical & Electrical Co., Ltd., SHANGHAI ELECTRIC GROUP CO., LTD, ZITIN CORPORATION, Zhuzhou CRRC Times Electric Co. Ltd.|
|By Product Type||Full-Height, Semi-Height, and Half-Height|
|By Application||Airport, Metro, and Bus Stop|
|Report Coverage||Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more|
|By Region||North America, Europe, Asia-Pacific, Latin America, Middle East & Africa|
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Key Market Highlights
- Globally, platform screen doors are divided based on the product type into full-height, semi-height, and half-height.
- The application segment is classified into airport, metro, and bus stops.
- The market is geographically divided into five regions: North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa.
- Asia Pacific and North America are estimated to support the market growth during the forecast period in terms of the large presence of market players combined with high expenditures on technological advancements in platform screen doors.
Platform Screen Doors Market Growth Drivers:
- Increasing investment by governments to enhance passenger safety and security is driving the growth of the platform screen doors market.
- Rising urban passenger mobility at subway stations increases the demand for PSDs to manage large crowds and improve passenger flow.
- The ability of platform screen doors to mitigate noise, wind, and temperature variations, improving passenger comfort is driving the growth of the market.
- High manufacturing and maintenance cost associated with platform screen doors are restraining the market growth.
- Increasing reliance of platform screen doors (PSDs) on power to operate effectively is impeding the growth of the market.
- The integration of PSDs with smart transportation systems to gather real-time data on passenger flow, platform utilization, and train schedules is expected to create opportunities for the growth of the market.
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Global Platform screen doors market Segmentation Details:
Based on Product Type, the full-height platform screen doors segment contributed the largest shares to the market growth in 2022 owing to the ability of the doors to prevent accidental falls and intentional acts including suicides or trespassing. Additionally, full-height platform screen doors help to mitigate noise, wind, and temperature variations, improving passenger comfort, thus contributing significantly in driving the growth of the market. Furthermore, full-height PSDs also help to regulate passenger flow, reduce platform congestion, and minimize dwell times at stations, thereby driving the growth of the market.
Based on Application, the metro segment offered substantial shares to the global platform screen doors market in the year 2022. The growth is attributed to the growing volume of passengers at metro stations as compared to airports and bus stops. In addition, metro stations experience high passenger traffic during peak hours which raises the demand for the implementation of PSDs for managing the crowd and ensuring passenger safety. Moreover, the increasing investment by the government in Public-Private Partnerships (PPP) to improve the transportation infrastructure including the installation of platform screen doors is also contributing significantly in bolstering the market growth.
Based on region, Asia-Pacific has been a major contributor to the growth of the platform screen doors market owing to the well-developed metro networks. The metro stations handle significant passenger volumes that increase the need for the installation of platform screen doors for crowd management, passenger safety, and security. In addition, Asia-Pacific countries and cities have a strong emphasis on safety in public transportation systems and PSDs provide an effective safety measure by creating a physical barrier between the platform and tracks, minimizing the risk of falls.
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List of Major Global Platform Screen Doors Market Players
The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through the implementation of technology, product utilization, business strategies, and the launch of new products. The following are major market players operating in the market environment —
- KTK Group Company Ltd.
- Pioneer-Fangda Metro Consortium
- Fangda Group Co., Ltd.
- Horton Automatics Ltd
- Knorr-Bremse AG
- Wabtec Corporation
- Nabtesco Corporation
- Nanjing Kangni Mechanical & Electrical Co., Ltd.
- SHANGHAI ELECTRIC GROUP CO., LTD
- ZITIN CORPORATION
- Zhuzhou CRRC Times Electric Co. Ltd.
Global Platform Screen Doors Market Segmentation:
- By Product Type
- By Application
- Bus Stop
- In September 2020, Siemens announced to install half-height platform screen doors and an automatic train control signaling system on the Jurong Region Line (JRL) in Singapore.
- In September 2022, Wabtec Corporation received an order for delivering, installing, and testing 300 half-height platform screen doors to Metro de Panama’s L3 monorail stations. The platform screen doors are installed to improve the safety and security of passengers at Monorail Station.
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Key Questions Covered in the Platform screen doors Market Report
- What will be the potential market valuation for the platform screen doors market by 2030?
- The market valuation for the platform screen doors market is expected to be approximately USD 1,638.67 million by 2030 driven by the increasing adoption of doors to enhance the safety and security of travelers.
- Based on current market trends and future predictions, which geographical region will have the largest impact on the platform screen doors market's growth in the coming years?
- Asia Pacific is expected to witness the fastest CAGR during the forecast period in the platform screen doors owing to the increasing investments by the government to enhance the infrastructure.
- What specific segmentation details are covered in the platform screen doors market report, and how is the dominating segment impacting the market growth?
- Full-height platform screen doors (PSDs) dominate the market as the doors prevent accidental falls and intentional acts including suicides or trespassing. Additionally, full-height platform screen doors help to mitigate noise, wind, and temperature variations, improving passenger comfort, thus contributing significantly in driving the growth of the market.
- What specific segmentation details are covered in the platform screen doors market report, and how is the fastest segment anticipated to impact the market growth?
- Airports are expected to witness the fastest CAGR owing to the increasing air passenger traffic that raises the demand of passenger screen doors for enhanced safety measures and improved passenger flow management.
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