It is expected that the automated parking system market will register a CAGR of 13.1% over the forecast period of 2022-2027.
As number of cars are growing every day, an automated parking system is a technique for retrieving vehicles and mechanical parking in order to accommodate the increase in the interest for safe and convenient parking. Automated parking systems limit the depth and width which is required for the parking lot and distances between parking spaces since there has to be enough space for car doors to open. Furthermore, no driving lanes or ramps are required in order to drive the vehicle toward the parking lot.Across the world, due to more and more cars on the road has resulted in traffic jams along with drivers looking to park the vehicle account for 40% traffic jams in which added fuel is also wasted along with extra emission of harmful gases. Automated parking can result in 85% lesser CO2 emissions generated by driving.Key market players are IHI parking system, MHI parking, ShinMaywa, XIZI parking system and Wuyang parking. These top 5 manufacturers hold a combined share of 25%. China is the leader in production with a share of 40% which is followed by Japan. As far as product is concerned, Multi parking with a share of 70% is the largest segment and in terms of application, commercial followed by residential is remains the largest market.
Recent Developments:
ShinMaywa Industries, Ltd. (Head Office: Takarazuka-shi, Hyogo; President & CEO: Tatsuyuki Isogawa) has received an order for its elevator type car parking system "ELEPARK", in Bangkok, Thailand. The system will be installed in a new facility to be constructed by the Council of Engineers Thailand ("COET"), a public institution in Thailand, under the project name of "Council of Engineers Project."
July 2021 – Westfalia Technologies, Inc., a leading automated parking and storage solutions provider. (Westfalia) introduced the release of the Westfalia Parking App, an all-in-one parking solution for consumers that improves automatic parking facilities' efficiency, security, and convenience.
By Type, Automated Parking Systems Market has been segmented into
By Appliication, Automated Parking Systems Market has been segmented into
North America accounted for the largest share in the automated parking system market in 2020 and is likely to dominate during the forecast period. The presence of global leaders, enormous traffic jams, colossal vehicle fleet, and integration of the latest technology are some of the factors supporting the dominant market share of North America in the global automated parking systems market.
The report offers in-depth assessment of the growth and other aspects of the Automated Parking Systems Market in important regions, including the U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, Taiwan, Southeast Asia, Mexico, and Brazil, etc. Key regions covered in the report are North America, Europe, Asia-Pacific and Latin America.
Report Attributes | Report Details |
Forecast Period 2022 to 2028 CAGR | CAGR of 13.1% during the review period (2022 to 2027). |
By Type |
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By Application |
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By Companies | ShinMaywa, MHI Parking, XIZI Parking System, Tongbao Parking Equipment, Huaxing intelligent parking, CIMC Tianda, Maoyuan Parking Equipment, Ldige Industries, PARI, RR Parkon, Sieger Parkin, IHI Parking System, Wuyang Parking, Nissei Build Kogyo, Yeefung Industry Equipment, Wohr, AJ Dongyang Menics, Dayang Parking, Klaus Multiparking, LÖDIGE, Tada, Unitronics, STOPA Anlagenbau, Sampu Stereo Garage, Park Plus, Westfalia, Serva, Robotic Parking Systems, Parkmatic, Fata automation, Eito & Global Inc and others. |
Regions Covered |
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Countries Covered |
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Base Year | 2022 |
Historical Year | 2017 to 2021 |
Forecast Year | 2022 to 2027 |
Number of Pages | 123 |
Customization Available | Yes, the report can be customized as per your needs |
What is the study period of this market?
The Automated parking system Market is studied from 2017 - 2027.
What is the growth rate of Automated parking system Market?
The Automated parking system Market is growing at a CAGR of 13.1% over the next 5 years.
What regions does this Automated parking system Market report covers?
North America (the United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
All our reports are customizable to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.
SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING
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REPORT WRITING/ PRESENTATION
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