Market Insight-Global Platform Screen Door (PSD) Market Overview 2023
Global Platform Screen Door (PSD) market size is projected to reach US$ 1205.15 Million by 2029 from US$ 806.10 million in 2022 at a CAGR of 6.07% during 2023-2029.– Bossonresearch.com
The integration of Platform Screen Doors (PSDs) with Fixed Digital Monitors emerges as a prominent trend in the Platform Screen Door Market, fueled by the intense competition among companies striving to differentiate their offerings through innovation. This trend showcases the convergence of safety, technological advancements, and commercial opportunities in the realm of mass transit systems. The dynamic shift in production strategies within the Platform Screen Door (PSD) Market, ranging from 'Standard' to 'Custom-Made' solutions, emerges as a pivotal trend that closely aligns with the evolving needs of end-users.This trend underscores the industry's adaptability and responsiveness, ensuring a comprehensive approach to meeting diverse demands and specifications. Many regions have introduced regulations and standards aimed at reducing energy consumption in public infrastructure. Energy-efficient PSD designs help transit authorities comply with these regulations and demonstrate their commitment to sustainable practices.
The global Platform Screen Door (PSD) market size is projected to reach US$ 1205.15 Million by 2029 from US$ 806.10 million in 2022 at a CAGR of 6.07% during 2023-2029. The escalating growth in the number of underground metro train projects emerges as a driving force propelling the Platform Screen Door (PSD) Market.The growing prevalence of underground metro train projects globally significantly influences the PSD market's trajectory. Underground metro train platforms, characterized by confined spaces and higher safety risks, necessitate robust safety measures like PSDs to prevent accidents, unauthorized access, and ensure smooth operations. The emphasis on passenger safety and security as a driving force in the Platform Screen Door (PSD) Market is rooted in a profound shift within the mass transportation sector towards prioritizing safety initiatives. Moreover, the commitment of regional governments to invest substantially in the development of new metro train stations constitutes a driving force behind the growth of the PSD market. Furthermore, the retrofitting of platform screen doors in existing metro train stations adds a layer of complexity and opportunity to the market. The modernization of older stations aligns with the global trend of improving urban infrastructure, enhancing passenger experiences, and meeting safety standards. This retrofitting process offers a significant avenue for PSD manufacturers to supply their solutions, thereby driving the market's growth.
Figure Global Platform Screen Door (PSD) Market Size
Source: Bossonresearch.com, 2022
Driving Factors
Passenger Safety and Security
The emphasis on passenger safety and security as a driving force in the Platform Screen Door (PSD) Market is rooted in a profound shift within the mass transportation sector towards prioritizing safety initiatives. In today's landscape, public safety has risen to the forefront of government responsibilities, propelled by both official mandates and the collective voice of the general population. This evolving sentiment has spurred a transformation in mass transit systems, particularly in bustling metropolitan areas, where the need for advanced safety measures is most pronounced.
Traditionally, mitigation efforts have included tactics such as 'mind the gap' warnings conveyed through both audio and visual means, as well as the incorporation of staircases designed to facilitate safe boarding. However, these approaches, while valuable, have inherent limitations and may not comprehensively address the breadth of safety challenges in dynamic transit environments. The emergence and adoption of Platform Screen Doors have marked a transformative leap beyond these conventional methods. These doors represent a paradigm shift in passenger safety, garnering widespread recognition for their unparalleled efficacy. By physically segregating the platform from the tracks, these doors eradicate the longstanding dangers associated with close proximity to the edge. This includes the potential for accidental falls, unauthorized access to the tracks, and even deliberate actions that compromise safety.
Increasing Number of Underground Metro Train Projects
The escalating growth in the number of underground metro train projects emerges as a driving force propelling the Platform Screen Door (PSD) Market.The growing prevalence of underground metro train projects globally significantly influences the PSD market's trajectory. As more cities and regions invest in efficient and modern mass transit systems, the demand for reliable safety solutions escalates. Underground metro train platforms, characterized by confined spaces and higher safety risks, necessitate robust safety measures like PSDs to prevent accidents, unauthorized access, and ensure smooth operations. The surge in awareness surrounding automated technology for metro trains further amplifies the adoption of PSDs. Automated metro systems require synchronized safety mechanisms, and PSDs emerge as a cornerstone in achieving seamless automation. This correlation between automated technology and the need for enhanced safety fosters a mutually beneficial relationship between the two segments, contributing to the increased sales of PSDs.
Moreover, the commitment of regional governments to invest substantially in the development of new metro train stations constitutes a driving force behind the growth of the PSD market. Furthermore, the retrofitting of platform screen doors in existing metro train stations adds a layer of complexity and opportunity to the market. The modernization of older stations aligns with the global trend of improving urban infrastructure, enhancing passenger experiences, and meeting safety standards. This retrofitting process offers a significant avenue for PSD manufacturers to supply their solutions, thereby driving the market's growth.
Global Platform Screen Door (PSD) Market: Competitive Landscape
According to our calculations, in 2022, the Platform Screen Door (PSD) market's market concentration indicators CR5 and HHI will be 64.33% and 9.77%, respectively. This means that the market concentration of xxx market is very low, and manufacturers are in very fierce competition. Currently, the key players in the market include Nabtesco, Westinghouse, Wabtec, Fangda, Kangni, Stanley, Jiacheng, Panasonic, Horton Automatics, ST Engineering, Shanghai Electric, KTK, Manusa, Masats.
Key players in the Platform Screen Door (PSD) Market include:
Nabtesco
Westinghouse
Wabtec
Fangda
Kangni
Stanley
Jiacheng
Panasonic
Horton Automatics
ST Engineering
Shanghai Electric
KTK
Manusa
Masats
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