Ladder Market Segmentation, Growth Rate and Research Report
The global ladder
market is expected to display higher growth rate
over the next five years. Rapid surge in ladder market is credited to the
growing demand from construction and manufacturing sector. In addition, rising
commercial and residential construction activities across the globe is expected
to drive the growth of the market over the forecast period. Globally, market is
predicted to generate massive revenue over next five years, providing numerous
opportunities for industry participants to invest in research and development
of ladder market.
Increasing infrastructural spending by local
governments, particularly in developing economies, to promote tourism and meet
public demands is expected to favor the market growth in upcoming years.
Development of fiberglass ladders also termed as glass-reinforced plastic (GRP)
ladders, offer light-weight solutions capable of holding large weights in
comparison with traditional aluminum ladders. Fiberglass ladders are durable
and consists of high tensile strength. Fiberglass ladders are suitable for
multipurpose applications.
In addition, fiberglass ladders offer
resistance to electricity as fiberglass is a good insulator of electricity.
These factors are expected to fuel market demand for insulated ladders or
fiberglass ladders over the forecast period. Increasing demand for industrial
ladder due to the higher capacity and height is expected to favor industry
expansion over the coming years as well. In addition, stringent government laws
& reforms to ensure workers’ safety and to regulate maximum height of
ladders, majorly in Asia Pacific and North America region is anticipated to
fuel market growth over the forecast period.
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The ladder market is broadly
categorized into three major segments based on the product type such as
industrial ladder, domestic ladder and commercial ladder. Industrial ladder
segment is growing rapidly in the market with substantial revenue generation in
the last few years. Growing popularity of industrial ladder segment is
attributed to the higher capacity and broader size.
The market is divided by region as
North America, Europe, Asia-Pacific, Latin America and Africa. North America
has shown major growth in recent years owing to the rise in implementation of
latest technologies, surge in number of research & development activities
in the region and existence of well-established infrastructure. In European
region, Germany, France, and United Kingdom are projected to witness steady
growth due to the increasing adoption of ladders from commercial and industrial
sector.
Asia-Pacific region is estimated to
hold a major share in the ladder market with massive growth in the forecast
period. Countries such as India, China and Singapore are leading the
Asia-Pacific market with rising construction activities, increasing disposable
income, growing infrastructural spending by local governments to meet public
demands, and significant investment by leading industry players considering
potential growth opportunities in the region.
The key players in the ladder market
are Featherlite (Featherlite Ladders) Corp., Louisville Ladder, Inc., P.W.
Platforms, Inc., TB Davies Cardiff Ltd., Werner Enterprises, Inc., Swastik
Corp., Jumbor Industrial Co., Ltd., and Industrial Steps & Ladders Pty.,
Ltd.
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