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The Ladder Market size is estimated to grow at a CAGR of 5.61% between 2022 and 2027 and the size of the market is forecast to increase by USD 1,404.91 million. The growth of the market depends on several factors, such as the rising focus on construction activities across emerging countries, the growth of end-user industries, and the rising demand for extension and platform ladders.
This report extensively covers market segmentation by application (industrial, domestic, and commercial), material (aluminum, steel, fiberglass, wood, and others), and geography (APAC, Europe, North America, South America, and the Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges.
Ladder Market Forecast 2023-2027
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Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a disruption in the growth of the market during the COVID-19 pandemic, a holistic analysis of drivers, trends, and challenges will help companies refine marketing strategies to gain a competitive advantage.
The extension ladder is a self-supporting ladder, which can be adjusted to the length of the ladder. The extension ladders offered by the vendors consist of two or more ladder sections, which are used to adjust the height of ladders according to the need. The extensive application of these ladders is primarily to blame for the market growth. The extension ladders are widely used in commercial applications, especially in logistics and warehouses, where the users must access racks at different heights.
Moreover, platform ladders are widely used for commercial applications such as in construction and other industries where the users must access and work at heights. Some of the common application industries for platform ladders are construction, automobile, and aerospace. The growth of the application industries will increase the demand for extension and platform ladders. This will propel the growth of the global ladder market during the forecast period.
For multiple uses, ladders are designed to be durable. They are replaced or disposed of according to their application and usage patterns. The waste generated from the disposal of ladders primarily includes wood, steel, and aluminum. In most cases, this waste is sent to landfills or remains unrecycled in landfill sites. Vendors are investing in the recycling of used ladders to manufacture other products.
Initially, the demand for eco-friendly ladders has also increased due to the implementation of stringent environmental regulations and the growing preference for environment-friendly products among vendors and consumers. This is why, as the sustainability of business operations becomes increasingly important to end users, vendors selling ladders have been called upon to change their production methods in a way that makes them environmentally friendly. This will drive the growth of the global ladder market during the forecast period.
The major challenge faced by operators of ladder markets worldwide is to use mobility devices such as forklifts rather than ladders for access, mainly in warehouses and related applications, especially in developing countries. Automating warehouses is another major challenge that is reducing the demand for ladders.
Moreover, in developing regions, small and medium-sized enterprises (SMEs) avoid spending on ladders made of expensive raw materials due to budget constraints and limited awareness about the benefits of using good quality ladders. Competition is enhanced by the adoption of traditional products, substitutes, and imitations. The increased automation will reduce the usage of traditional ladders in several end-user industries, reducing the demand for them. This will affect the growth of the global ladder market during the forecast period.
The industrial segment will account for a major share of the market's growth during the forecast period. The industrial market segment is the largest revenue contributor to the global ladder market. In the industrial sector, ladders are used for multiple applications. In mining, construction, manufacturing, transport, and logistics, ladders are used in various activities, including factory setup, product assembly, and maintenance repair and overhaul MRO.
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The industrial segment was valued at USD 1,624.80 million in 2017 and continued to grow until 2021. The increase in manufacturing activities will drive the demand for manufacturing support equipment, such as ladders. A major investment in the construction sector has been stimulated by rapid urbanization growth and an increase in per capita income in emerging economies. The developments in the construction industry will subsequently provide growth opportunities to vendors operating in the global ladder market during the forecast period.
The domestic segment is the second-largest revenue contributor to the global ladder market. The main use of ladders in domestic applications is to access things that are placed beyond normal height. These applications include attic access, area access, home decoration, cleaning and maintenance activities, and home renovation. As a result, such ladders are employed for storage and access in the home environment. The global home ladder market is projected to grow over the next five years, as more and more people adopting of the do-it-yourself (DIY) trend in households. Domestic use of ladder equipment for household tasks will also increase as more homes are built. These factors propel the demand for ladders for domestic applications, driving the growth of the global ladder market during the forecast period.
Based on material, the market has been segmented into aluminum, steel, fiberglass, wood, and others. The aluminum segment will account for the largest share of this segment. An aluminum ladder is typically made of aluminum, which is a lightweight and durable metal. Some key features of aluminum ladders are that they are lighter than other ladders, such as steel ladders, which makes their transport and maneuver easy. Aluminum is stronger and more durable despite being lightweight. Aluminum ladders can withstand heavy loads and can provide stability during use. These ladders have a natural resistance against corrosion, which is appropriate for use outdoors and indoors. In the presence of water or severe weather conditions, they are less susceptible to rusting. These ladders have foldable telescoping features, making storage and transport easier. Hence, owing to such benefits of aluminum ladders, its market demand is going to increase and hence will contribute towards the growth of the market in focus during the forecast period.
Steel ladders are heavy ladders made of steel. This makes them ideal for use in the roofing and construction industry. A lot of strength is required to move a steel ladder from one place to another due to its heavy weight. Steel conducts electricity, which means It cannot be used in bad weather like rain and lightning. The heaviness of steel is also one of its greatest advantages. Steel ladders can support an individual weight and the tools carried while climbing the ladder. Hence, because of the specific nature of the steel ladder and its advantage outweighing its disadvantages, it is expected to contribute to the market growth during the forecast period.
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APAC is estimated to contribute 51% to the growth by 2027. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. APAC is the largest contributor to the global ladder market and is expected to grow at the fastest rate during the forecast years. The continuous shift in the use of ladders between domestic and enterprise applications can be mainly attributed to this significant market growth in the APAC region. In 2020 the industrial sector generated around 30.8% of China's GDP. Thus, the growth in the industrial sector is driving the usage of ladders for industrial operations during the forecast period.
In 2020, the COVID-19 outbreak in APAC enhanced the growth of the market in focus in this region. However, due to vaccination drives initiated by the regional governments, the demand for masks and other personal protective equipment kits increased in 2021, which further fueled the regional market growth. The reopening of manufacturing facilities, warehouses, and construction sites in 2021 enabled staff to return on-site with enhanced security against the COVID-19 pandemic. This increased the demand for ladders in 2021. Although, the growth slowed down considerably in 2022 as a result of the lack of health awareness. Hence, lack of awareness is a challenge in developing countries in APAC, which may restrict the growth of the market in this region during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
ALCO ALUMINIUM LADDERS Pvt. Ltd. - The company offers ladders such as Single Wall Ladders with Round steps.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
Argent Industrial Ltd., Bauer Corp., EGA Products Inc., Falcon Ladder and Scaffold, Fastenal Co., Frenehard and Michaux, Gorilla Ladders, Hasegawa USA Inc., LockNClimb LLC, Louisville Ladder Inc., Lynn Ladder and Scaffolding Co. Inc., Menard Inc., Moulton Ladder and Scaffold Co., P.W. Platforms Inc., Putnam Rolling Ladder Co. Inc., TB Davies, Tri Arc LLC, Werner Co., and Zhejiang Aopeng Industry and Trading Co. Ltd.
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The ladder market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Ladder Market Scope |
|
Report Coverage |
Details |
Page number |
163 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.61% |
Market growth 2023-2027 |
USD 1,404.91 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.91 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 51% |
Key countries |
US, Canada, China, Japan, and the UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
ALCO ALUMINIUM LADDERS Pvt. Ltd., Argent Industrial Ltd., Bauer Corp., EGA Products Inc., Falcon Ladder and Scaffold, Fastenal Co., Frenehard and Michaux, Gorilla Ladders, Hasegawa USA Inc., LockNClimb LLC, Louisville Ladder Inc., Lynn Ladder and Scaffolding Co. Inc., Menard Inc., Moulton Ladder and Scaffold Co., P.W. Platforms Inc., Putnam Rolling Ladder Co. Inc., TB Davies, Tri Arc LLC, Werner Co., and Zhejiang Aopeng Industry and Trading Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Material
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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