Turnstile Market Size, Share, Growth and Industry Analysis, By Type (Waist-High/Tripod Turnstile, Half/Full Height Turnstile and Others), By Application (Office Building/Factory, Commercial, Transport and Others) Regional Forecast To 2028

Updated On: 13 March 2023

REPORT OVERVIEW

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The global turnstile market size is expected to be USD 284.4 million in 2022 and the market is projected to touch USD 345.6 million by 2028, with a growing CAGR of 3.3% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the turnstile market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels.

Turnstiles are a kind of gate used to manage pedestrian traffic. The gates are set up such that only one person can pass through at once. By inserting coins, tickets, passes, identification cards, and other objects of a similar nature, these gates, often referred to as baffle gates, can both prevent entry and permit entry with the proper credentials. It is a fantastic approach to increase security and prevent illegal human ingress. One of the safest, most effective, most efficient entry solutions is a gate of this material. Additionally, it is very affordable and simple to deploy. The majority of public transportation facilities, including metro stations, corporate parks, airports, bus depots, train stations, banks, business centers, stadiums, prisons, amusement & adventure parks, industrial facilities, educational institutions, and other places, have these gates installed.

COVID-19 Impact: Decrease in Demand and Supply Due to Various Restrictions to Curb the Virus

The manufacturers of this market faced a decline in demand for their products during the beginning of the pandemic. Like various other businesses all over the world this business also had to face a tough time with all the various restrictions set by the governments of the various nations prohibiting people from moving out and about, ban on the different modes of transportations, restrictions from visiting any cinemas or parks altogether to help bring the virus under control. This meant that the various end users of this product were no longer in need for these gates so the demand and sales were hit and besides this, the firms involved in this business had to put a halt on their production as well during the spread of the virus.

LATEST TRENDS

"Recent Development to Foster Market Growth"

LOT Group's new development, style Gate, follows contemporary trends. With their sliding flaps closed horizontally, this steel is equipped. The hardware has a flawless and seamless performance, and the flaps are constructed of tempered glass. Passengers are made to feel safe and comfortable during use thanks to the turnstile posts' rounded and ergonomic shape, adjustable lighting, and expressive signaling. This model is meant to be installed as a part of automated fare collection systems and access control systems, especially in subways.

SEGMENTATION

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• By Type

Based on type, the market is distributed into Waist-High/Tripod Turnstile, Half/Full Height Turnstile and Others

• By Application

Based on application, the market is divided into Office Building/Factory, Commercial, Transport and Others

DRIVING FACTORS

"Safety Awareness to Fuel Market Development"

The requirement to prevent unlawful access of people and the rapid rise in awareness about safety and security in public spaces are likely to be the key drivers for the turnstile market growth throughout the projected time frame. Tracking individual admission and leave as well as unlawful actions like theft and other crimes is made much easier by integrating the steel with access control. These steel gates come in a variety that is accessible on the market. End users choose the proper steel based on their needs and desired level of security rigor from a variety of features and capabilities offered by these products.

"Rapid urbanization and rise in construction of infrastructure will accelerate the growth of turnstiles"

During the forecast period, it is anticipated that rapid urbanization in developing nations and a rise in the construction of infrastructure for public transportation, such as metro stations, airports, bus stops, and roadways, will drive the market for gates and offer tremendous opportunities to the manufacturers and distributors. In the near future, it is projected that the rapid expansion of the installation of waist height gates and optical at metro stations, amusement parks, airports, cinemas, corporate parks and other locations will accelerate the growth rate of these goods.

RESTRAINING FACTOR

"Expensive and Limited Spaces Usage act as Barriers in the Broadening of the turnstile Market"

This material is known for their various advantages but at the same time they do also come with their set of disadvantages as well. First of all, the cost of these gates is high and not just the gates themselves but the cost of installing them as well is high. This is because of their various security advantages such as scanning passes or in some cases scanning faces of individuals in case these gates are installed in industries or firms. Besides this, these gates can only be used in certain places such as indoors or any place with a roofing of some sort as many of these gates are not waterproof and can be destroyed immediately if they come in contact with water. Thus, these factors act as barriers in the broadening of this market.

REGIONAL INSIGHTS

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"Significant Growth in the Asia Pacific Regions due to Increase in Urbanization and Development of Transportation Infrastructure"

The market in Asia Pacific is predicted to grow significantly during the forecast period due to the region's rapidly increasing urbanization and the increased development of transportation infrastructure, including airports, railway stations, bus depots and metro stations in China, India, Japan, and other Southeast Asian nations. In the Asia Pacific area, demand for the gates is anticipated to increase the turnstile market share.

KEY INDUSTRY PLAYERS

"Investment in R&D and Expansion of Operations Globally help the Players to lead in the Market"

During the projection period, well-established manufacturers of this industry are expected to encounter healthy competition. The competitors present in the market are spending a lot of money on R&D to improve their current product line, and they also intend to introduce newly created gates to the market. Additionally, firms are expanding their operations globally through mergers and acquisitions and agreements with local distributors and dealers.

List of Market Players Profiled

• Gunnebo (Sweden)
• Boon Edam (Netherlands)
• Dormakaba (Switzerland)
• Magnetic Autocontrol (Germany)
• Alvarado Mfg (California)
• PERCo (Russian Federation)
• Jieshun (China)
• KONE (Finland)
• Wanzl Metallwarenfabrik (Germany)
• Automatic Systems (Belgium)
• Tisco (India)
• Cominfo (Czech Republic)

REPORT COVERAGE

This report covers the turnstile market. The CAGR expected to be in during the forecast period, and also the USD value in 2022 and what it is expected to be in 2028. The effect COVID-19 had on the market in the beginning of the pandemic. The latest trends taking place in this industry. The factors that are driving this market as well as the factors that are restraining the growth of industry. The segmentation of this market based on type and applications. The region leading in the industry and why they will continue to do so during the forecast period. Further, the key market players, what all is being done by them to stay ahead of their competition as well as retain their market positions. All these details are covered in the report.