Airport Retailing Consumer Electronics Market to Grow at a 7.2% CAGR - Fact.MR Study

NEW YORK, Jan. 24, 2022 /PRNewswire/ -- The global airport retailing consumer electronics market is expected to increase at a CAGR of 7.2% from 2022 to 2032, from USD 1,880 million in 2022 to USD 3,780 million by 2032 end.

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Travelers benefit from the ease of airport retailing because it is an immediately available choice. During the projected period of 2022-2032, the market valuation will increase by 2.1X due to an increase in the diversity of merchandises available, as well as an increase in the number of low-cost aircraft choices.

Consumer electronics sold in airports have direct application in air travel environments. Furthermore, according to a poll conducted by Airport Council International, a growth of 8% to 10% in global aviation passenger traffic over the last five years is expected to generate profitable prospects for manufacturers. The aforementioned patterns indicate that this market has a good chance of doubling its current market value in the next ten years.

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By the end of 2022, the United Arab Emirates is predicted to contribute 48% of sales in the MEA airport retailing consumer electronics market. With rising air traffic in developing countries, Asia Pacific and the Middle East and Africa (MEA) continue to be popular destinations for airport retailing consumer electronics retailers.

Dufry AG, a Swiss travel retailer and a market leader in airport retailing consumer electronics, has won a new contract with Perth Airport Pty Ltd (PAPL) in Australia to manage a 2,300 m2 with two duty-free outlets. Significant investments in the company's travel retail locations at important airports in these countries, such as Sharjah International Airport, support the company's goal of establishing a stronger footprint in Asia, Eastern Europe, the Middle East, and Australia.

Aero cities are expected to give the highest absolute dollar opportunity among the major store locations linked with airport retailing consumer electronics industry (Pre-security (Landslide), Post-security (Airside), and Aero Cities) during the forecast period of 2022-2032. The current transition pattern followed by the bulk of high-air-passenger-traffic airports such as Seoul Incheon, Singapore Changi, Dubai International, Shanghai Pudong, and Beijing Capital is a factor worth considering.

Report Attribute

Details

Market Size Value in 2021

USD 1,820 Million

Market Value Estimated in 2022

USD 1,880 Million

Market Value Forecast in 2032

USD 3,780 Million

Global Growth Rate (2022-2032)

CAGR 7.2%

Key Takeaways:

  • Airport retailing consumer electronics market in United Arab Emirates is expected to expand with a growth rate of 8.3% by 2032.
  • Demand for airport retailing consumer electronics in aero cities to reach market value of USD 1,618 Million by 2032.
  • Airport retailing consumer electronics demand grew at a CAGR of 6.1% during the last decade.

Growth Drivers:

  • Growing trend from normal airports to resembled miniature cities as 'aerotropolis' to spur the revenue of airport retailing consumer electronics.
  • Airport retailing is an easily accessible option for travelers which is expected to propel the market demand.
  • Large and busy airports to create lucrative growth opportunities for airport retailing consumer electronics market.

To learn more about Airport Retailing Consumer Electronics Market, you can get in touch with our Analyst at https://www.factmr.com/connectus/sample?flag=AE&rep_id=2218

Competitive Landscape

The majority of market participants in the airport retailing consumer electronics business have chosen growth-oriented strategies. Furthermore, branding and ongoing technological improvements in the aforementioned technology are at the top of their priority list. These techniques aid global firms in expanding their geographical footprint and capturing maximum market share, resulting in a technical edge.

  • Durfy, for example, prolonged its relationship in August 2021 by extending the duty and tax-free rental arrangement at Cardiff Airport in Wales.

Key Companies Profiled by Fact.MR are:

  • Durfy AG
  • Crystal Media
  • Royal Capi-Lux ('Capi')
  • InMotion
  • Dubai Duty Free
  • Lagardere Travel Retail
  • Bahrain Duty Free Shop Complex
  • Regstaer Duty Free

More Valuable Insights on Airport Retailing Consumer Electronics Market

Fact.MR provides an unbiased analysis of airport retailing consumer electronics market, presenting forecast statistics for the period from 2022-2032. The study divulges compelling insights on the global airport retailing consumer electronics market with a detailed segmentation on the basis of:

  • By Product Type
    • Electronics Devices
    • Accessories
    • Others
  • By Airport Size
    • Large
    • Medium
    • Small
  • By Store Location
    • Pre-security (Landside)
    • Post-security (Airside)
    • Aero Cities
  • By Channel
    • Hypermarket/Supermarket
    • Specialty Retail Store
    • Others
  • By Regions
    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia
    • Oceania
    • Middle East & Africa

Key Questions Covered in Airport Retailing Consumer Electronics Market Report

  • The report offers insight into the airport retailing consumer electronics market demand outlook for 2022-2032.
  • The market study also highlights projected sales growth for airport retailing consumer electronics market between 2022 and 2032.
  • Airport retailing consumer electronics market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry.
  • Airport retailing consumer electronics market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others.

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