Ladder Market Size 2019:Global Industry Analysis by Growth, Segmentation, Size
Posted by sarahbennu on August 27th, 2019
Global ladder market size is forecast to grow by USD 1.20 billion during 2019-2023 at a CAGR of 6%, with industrial segment having the largest market share. Ladder market analysis indicates growth will be driven by the rising demand for extension and platform ladders. Ladder industry growth will also be impacted by the increase in adoption of sustainable product manufacturing by vendors. A key factor driving the growth of the market is the rising demand for extension and platform ladders. The growth in the market is majorly due to the extensive application of these ladders. Extension ladders are widely used in commercial applications, especially in logistics and warehouses where the users must access racks at different heights. Platform ladders are widely used for commercial applications such as in the construction and other industries where users must access and work at heights. Some of the common application industries for platform ladders are construction, automobile, and aerospace. Therefore, it is expected that the growth of the application industries will increase the demand for extension and platform ladders during the forecast period.
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As per Technavio, the increase in adoption of sustainable product manufacturing by vendors will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global ladder market 2019-2023 research report also analyses other important trends and market drivers that will affect market growth over 2019-2023.
Global ladder market: Increase in adoption of sustainable product manufacturing by vendors
Ladders are designed to be durable for multiple uses. 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 aluminium. It is generally sent to landfills or remains unrecycled at dump yards. Vendors are investing in the recycling of used ladders to manufacture other products. For instance, old wood ladders are recycled and repainted for use as home decor items. The demand for eco-friendly ladders has also increased due to the implementation of stringent environmental regulations and the preference of vendors and consumers toward environment-friendly products. Therefore, the growing concerns of end-users regarding sustainable business operations are compelling vendors of ladders to adopt sustainable manufacturing processes. This will drive the growth of the global ladder market during the forecast period.
Global ladder market: Segmentation analysis
This market research report segments the global ladder market by application (industrial, domestic, and commercial), and geographical regions (APAC, Europe, North America, South America, and MEA).
The APAC region led the market in 2018, followed by Europe, North America, South America, and MEA respectively. During the forecast period, the APAC region is expected to maintain its dominance in the global market and register the highest incremental growth. This is due to the steady shift in the use of ladders from domestic applications to commercial and industrial applications.
Some of the key topics covered in the report include:
Five Forces Analysis
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Joined: July 1st, 2019
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