This report covers market characteristics, size and growth, segmentation, regional breakdowns, competitive landscape, market shares, trends and strategies

PUNE, INDIA, August 27, 2019 /EINPresswire.com/ -- Global Car Parking System Market to Grow at a Rapid Pace on the Back of Surge in Infrastructure Projects in Asia Pacific

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.

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Key Players :
The important players in the market for Car parking system are strategically summarized as well as the strong players in the market, by extensively investigating their core abilities, and producing a beneficial outlook for realizing the competitive environment for the Car parking system market.

IHI
TADA
Xinhuayuan
Klaus Multiparking
Unitronics
LÖDIGE
Tianchen Intelligen
Westfalia
MHE Demag
Rainbow
Sampu Stereo Garage
STOPA Anlagenbau
FATA Automation
Park Plus

Segmentation

To provide a in-depth understanding of the car parking market, it has been segmented on the basis of the following:

By Type:

Mechanical Systems 

Semi-Automated Systems 

Automated Systems

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.

By Application:

Office Building 
Mall 
Residential 
Others

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.

Regional segmentation 
North America 
o U.S. 
o Canada 
Europe 
o UK 
o Germany 
Asia Pacific 
o China 
o India 
o Japan 
Latin America 
o Brazil 
o Mexico 

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.

……Continued

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NORAH TRENT
WISE GUY RESEARCH CONSULTANTS PVT LTD
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