Passenger Ropeways, which is currently being used only for tourism related purposes, is set to play a pivotal role in transforming urban transportation Industry in India.
Global Ropeway market is valued over US $1.9 Billion and is expected to reach US $ 4.6 Billion with a CAGR of 11.9% by FY 2024. As on date, there are little over 25 Ropeway installations in India, mainly situated at various famous hill stations and pilgrimage centers. Majority of these ropeways were built and operated by Indigenous suppliers, who generally procure ropeway components from International manufacturers and assemble them. India is fast emerging as one of the key markets for Global Ropeway Industry owing to its increasing awareness levels and strong adoption rates. Moreover, Passenger Ropeways in India are likely to emerge as a strong alternative to existing modern urban transportation modes, which is currently dominated by Metro rail.