Global Baggage Handling Systems Market to Reach $15.2 Billion by 2030
The global market for Baggage Handling Systems estimated at US$10 Billion in the year 2023, is expected to reach US$15.2 Billion by 2030, growing at a CAGR of 6.3% over the analysis period 2023-2030. Conveying & Sorting Systems, one of the segments analyzed in the report, is expected to record a 6.9% CAGR and reach US$7.4 Billion by the end of the analysis period. Growth in the Check-in, Screening & Loading Systems segment is estimated at 6.3% CAGR for the next 7-year period.
The U.S. Market is Estimated at $2.6 Billion, While China is Forecast to Grow at 9.4% CAGR
The Baggage Handling Systems market in the U.S. is estimated at US$2.6 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$3.5 Billion by the year 2030 trailing a CAGR of 9.4% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.4% and 5.7% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 3.9% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2.1 Billion by the year 2030.
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