27 June 2019 – 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.
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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.
Market segment by Type, the product can be split into
- Metal Ladder
- Wood Ladder
- Fiberglass Ladder
Market segment by Application, Ladder can be split into
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.
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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.