WASHINGTON, Dec. 17, 2021 (GLOBE NEWSWIRE) — The Global Baggage Handling Systems Market size is expected to reach USD 12.01 billion by 2028, exhibiting a CAGR of 7.31% during the forecast period. The increasing volume of marine and air passengers for domestic and international travels is facilitating the growth for the market for Baggage Handling Systems, states Vantage Market Research, in a report, titled “Baggage Handling Systems Market Size, Share & COVID-19 Impact Analysis, By Mode of Transport (Airport, Railway, Marine), By Technology (Barcode system, RFID system), By Service Type (Assisted service, Self-service), By Type (Conveyor, Destination Coded Vehicle (DCV), By Solution (Check-in, Screening, and loading, Conveying and sorting, Unloading and reclaim), by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) – Global Industry Assessment (2016 – 2021) & Forecast (2022 – 2028).” The market size stood at USD 6.83 billion in 2020.
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The COVID-19 outbreak has affected various industries worldwide. The Baggage Handling Systems Market is no exception. Governments across the world took severe actions like border seals, lockdown, and implementing strict social distancing measures, in order to stop swift spread of COVID-19. These actions led to severe impact on the global economy impairing various industries. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data-points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
The report on Baggage Handling Systems Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
Important questions answered in this report:
- What is the estimated market size and growth rate of the Baggage Handling Systems Market?
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Improved Customer Experience to Drive the Market
Exponential rise in the investment for developing infrastructure at airport to cater the expanding passenger traffic in the last few years is anticipated to facilitate the market. Rising population along with an increase in the disposal income is likely to stimulate growth for the market. Furthermore, to improve customer experience and to smoothly operate airlines investors are installing baggage handling systems which are more advanced to increase operational efficiency for baggage handling systems which is likely to support growth for baggage handling system market.
Rise in Passengers Travelling through Airways to Drive the Market
Passengers travelling through airways have risen exponentially due to rising disposable income, consistent economic growth, demographic profiles, encouraging population dynamics are some determinants influencing the market for baggage handling systems. In October 2019, In Qatar Hamad International Airport announced its expansion plan, which includes the expansion of different Phases such as A and B. Phase A predicted, the passenger handling capacity to rise to more than 53 million customers annually by 2022 and further rise to more than 60 million customers travelling after the completion of Phase B. Various projects similar to this are ongoing in various other nations. Such airport development projects are likely to generate demand for baggage handling systems which will allow effective processing of baggage and passengers at the airport.
Advantages of this Research:
- Evaluate market share for commercial Baggage Handling Systems market opportunities, track market size, competitive drug sales, synthesis insights for commercial development and licensing.
- Develop tactics and strategies to take advantage of opportunities in the Baggage Handling Systems market.
- Latest Trends and Market Events and analyze essential events in Baggage Handling Systems market.
- Develop an in-depth knowledge of competition and analyze sales data to update your brand planning trackers.
- Answer vital business questions; supports decision making in R&D to long term marketing strategies
- Develop economic models, forecast models, and healthcare frameworks.
Rising Government Initiatives to Augment Growth in Asia Pacific
Asia-Pacific is poised to witness a high growth owing to a wide growth in the airport infrastructure investments to cater to the rising passenger traffic over the past few years in the region. The airports in nations like India, Japan, China, and South Korea have seen an exponential growth in customer traffic. As a result, airport authorities have expanded their investments in the development of airports which are existing and also the construction of new airports.
List Of Prominent Players in the Baggage Handling Systems Market:
|1.||G&S Airport Conveyor||Phoenix, Arizona, U.S.|
|2.||Daifuku||Okasa, Kansai, Japan|
|3.||Siemens||Munich, Germany, Europe|
|4.||Pteris Global Limited||Singapore, Asia|
|5.||Vanderlande Industries||Toronto, Canada, North America|
|6.||Logplan||Denver, Colorado, U.S.|
|7.||Grenzebach Group||Bad Hersfeld, Germany, Europe|
|8.||Beumer||Beckum, Germany, Europe|
Browse market data Tables and Figures spread through Pages and in-depth TOC on “Baggage Handling System Market by Mode (Airport, Railway, Marine), by Tracking Technology (Barcode System, RFID System), by Type (Conveyor, Destination Coded Vehicle (DCV)), by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) – Global Industry Assessment (2016 – 2021) & Forecast (2022 – 2028)” View detailed Table of Content here – https://www.vantagemarketresearch.com/press-release/baggage-handling-system-market-701469
Recent Developments in the Industry:
1. June 2021: Siemens Logistics is launched an innovative product portfolio for airports this year at inter airport Europe. This enables airports and airlines to benefit from efficient and reliable baggage handling systems alongside state-of-the-art IoT applications, data analytics and artificial intelligence.
2. June 2021: BEUMER Group – a leading global supplier of automated baggage handling systems – has been selected by airport operator, Avinor, to design, integrate and operate a new Baggage Handling System (BHS) to replace the existing system at Oslo Airport. The investment in the new BHS is a key element in Oslo Airport’s development strategy to ‘future-proof’ operations and to become a central hub.
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