A ladder is a vertical or inclined set of rungs or steps. Two types of ladders are available in the market— rigid ladders and flexible ladders. The market includes the value sales of ladders used for domestic, commercial, and industrial applications.
Technavio’s analysts forecast the global ladder market to grow at a CAGR of 5.44% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global ladder market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Ladder Market 2018-2022
Technavio recognizes the following companies as the key players in the global ladder market: Featherlite (Featherlite Ladders), Louisville Ladder, P.W. Platforms, T.B. DAVIES (CARDIFF), and Werner.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increasing popularity of fiberglass ladders. Vendors are increasingly using fiberglass to manufacture ladders, which are commonly known as glass-reinforced plastic (GRP) ladders. The advantages associated with these ladders such as lightweight, durability, and high tensile strength makes them suitable for multipurpose applications. Moreover, these fiberglass ladders are suitable for applications that involve direct contact with electricity since fiberglass is a good insulator of electricity.”
According to the report, one driver in the market is increase in residential and commercial construction activities. The economic growth and increased spending is resulting in a rise in number of residential and commercial construction activities. The construction activity is increasing in MEA due to the rising number of government initiatives to promote tourism.
Further, the report states that one challenge in the market is increasing adoption of the DIY trend. DIY refers to the building of products from scratch instead of purchasing the finished goods and leads to the backward integration of raw materials.
Featherlite (Featherlite Ladders), Louisville Ladder, P.W. Platforms, T.B. DAVIES (CARDIFF), and Werner.