Europe Car Parking System Market Trends 2024- Industry Share, Revenue, Growth Drivers, Key Player, Business Opportunities and Future Outlook till 2033: SPER Market Research
An automated parking system is a device that lowers the amount of space required for parking cars by stacking cars vertically. The purpose of a fully automated parking system is to help move cars from the entry to a designated parking space without the assistance of a driver. This approach reduces the need for ramps, steps, drive aisles, and building expenses while also requiring less space.
According to SPER market research, Europe Car Parking System Market Size – By Component, By Platform, By Automation Level, By End User – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Europe Car Parking System Market is predicted to reach USD XX billion by 2033 with a CAGR of XX%.
Drivers:
Automated parking systems are seeing a boost in market share due to factors like high-rise structures, luxury developments, growing smart city efforts, and the tendency of real estate developers to employ automated solutions. These days, one of the services required for every smart city is the availability of enough parking spaces to ensure smooth and easy traffic flow. In addition, the number of parking spots in cities is declining. The number of parking spaces in cities is sharply declining as a result of high emissions, heavy traffic, and the design of new residences, businesses, and other development projects.
Challenges:
The market is challenged by the high initial installation expenses of this parking system. These systems need advanced technological components, which are usually pricey, which raises the final cost of the product. This keeps a lot of developing and rising countries from considering the implementation of these parking schemes. Added, Worries regarding mechanical and electrical failures have grown.
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Impact of COVID-19 on Europe Automated Parking System Market
The COVID-19 epidemic had a major impact on almost every industry, including the world economy. The pandemic disrupted the supply chain, causing delays in the development and delivery of several types of parking systems. This has resulted in lengthier lead times and higher costs for specific projects. Furthermore, many individuals and organizations faced money constraints as a result of the pandemic’s economic collapse, which limited expenditures in new parking infrastructure and technology improvements.
Europe Car Parking System Market Key Player
Additionally, Some of the market key players are AJ Automated Parking Systems Co., Ltd., CityLift Parking, FATA Automation Inc., Klaus Multiparking.
Europe Automated Parking System MarketSegmentation:
The SPER Market Research report seeks to give market dynamics, demand, and supply forecast for the years up to 2033. This report contains statistics on product type segment growth estimates and forecasts.
By Component: Based on the Component, Europe Car Parking System Market is segmented as; Hardware, Software.
By Platform: Based on the Platform, Europe Car Parking System Market is segmented as; Semi-automated, Fully-automated.
By Automation Level: Based on the Automation Level, Europe Car Parking System Market is segmented as; Palleted, Non-palleted.
By End-User: Based on the End-User, Europe Car Parking System Market is segmented as; Commercial, Residential, Mixed-use.
By Region: This research also includes data for France, Germany, UK, Italy, Russia, Rest of Europe
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
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Europe Automated Parking System Market Growth
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