Car Parking System Market 2019 Global Trends, Share, Growth, Analysis, Opportunities and Forecast To 2024
A new market study, titled “Discover Global Car Parking System Market Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.
Car parking system is a system that deploys electric motors or hydraulic pumps to move a car within a parking lot, so as to maximize space utilization. Such systems allow for multiple cars to be parked in small spaces, often stacked one atop the other just a few meters apart. Conventional car parking systems are usually controlled by an operator, while advanced systems now are completely automated. These systems provide the perfect solution for areas with rather limited lateral parking spots and increase space available for building projects. Car parking systems are rapidly being adopted in regions where real estate is priced at a premium and in areas with limited open spaces for development, significantly increasing the financial viability of construction projects. Most systems deployed in residential projects are usually about two to three stacks high, while commercial car parking systems can be several stories tall. Car parking systems allow freeing up of pathways and open spaces which would otherwise be occupied by parked vehicles.
Owners can easily locate and retrieve their vehicles from such parking systems using their tokens or pass keys. Smart car parking systems allow for tracking of available parking spots within the system and tracking the exact location of the parked car. These systems significantly reduce construction costs associated with building large parking lots. Car parking systems also offer heightened security of vehicles, as there is only a single point of entry and exit and vehicles can only be accessed on producing the corresponding token or access card. This market is expected to gain significant traction in the near future with rapid urbanization and decreasing real estate spaces.
Key Players of Global Car Parking System Market =>
- Klaus Multiparking
- Tianchen Intelligen
- MHE Demag
- Sampu Stereo Garage
- STOPA Anlagenbau
- FATA Automation
- Park Plus
To provide a in-depth understanding of the car parking market, it has been segmented on the basis of the following:
The largest segment of mechanical systems are now be rapidly replaced by automated systems, due to the extreme ease of use and convenience offered by the latter.
Office building and malls are among the largest segments for car parking systems as these commercial spaces are usually priced much higher than residential spaces.
Rest of the World
North America and Europe are the largest markets for car parking systems. Asia Pacific, home to two of the most populous countries, is emerging as the fastest growing market for these systems. This is mainly attributable to rampant infrastructure development and decreasing real estate space in these countries. Recently, the Airports Authority of India issued tenders for electromechanical parking system at Delhi Airport, while the South Delhi Municipal Corporation (SDMC) announced plans to set up a multilevel automated parking system at a commercial centre. While major capital investments have been major inhibitors for market growth, the gains now far outweigh the initial expenses and costs significantly reducing with increasing number of players entering this highly lucrative market.
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