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Ladder Market Report 2024 - Ladder Market Insights, Trends And Opportunities
Ladder Market
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According to The Business Research Company's, The ladder market size has grown strongly in recent years. It will grow from $2.17 billion in 2023 to $2.29 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to industrialization impact, construction boom, home improvement trend, urbanization influence.
The ladder market size is expected to see strong growth in the next few years. It will grow to $2.9 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to safety regulations enhancement, e-commerce growth, sustainable materials adoption, urbanization and infrastructure development, DIY culture expansion. Major trends in the forecast period include customization and versatility, enhanced safety features, lightweight and portable designs, multi-functional ladders, sustainable materials usage.
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Market Drivers and Trends:
The increase in demand for fire escape ladders is projected to propel the growth of the ladder market going forward. Fire escape ladders are portable-fitted fire escape devices. Portable fitted fire escape ladders are a type of portable fitted fire escape apparatus. The emergency ladder is simple to set up and use. It's small enough to carry around in an emergency, and it is simple and safe to link it up to the window to get out of the house as quickly as possible. The increasing number of residential fire incidents has increased the demand for fire escape ladders. For instance, according to the National Fire Protection Association (NFPA), in 2021, local fire departments responded to an estimated 1.35 million fires in the United States, which caused 3,800 civilian fire deaths. Therefore, the increasing demand for fire escape ladders will drive the growth of the ladder market.
Strategic collaborations and partnerships are shaping the ladder market. Private firms are investing in ladder companies to support their growth in the market. For instance, in January 2021, Industrial Opportunity Partners, a US-based private equity firm, announced an investment in Little Giant Ladder Systems, a US-based ladder maker. Little Giant will benefit from this cooperation with Industrial Opportunity Partners in terms of both financial and operational expertise, allowing it to expand its reach to new customers, geographies, and products. Furthermore, in February 2021, Custom Service Hardware, a US-based rolling ladder manufacturer, acquired Putnam Ladder Co., Inc., to introduce rolling ladder choices to its Quiet Glide and E-Glide ladder lines. Putnam Ladder Co., Inc., is a US-based customized rolling ladder provider.
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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
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• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
Werner Co, Alco Aluminium Ladders Private Limited, Sagar Asia Private Limited, Little Giant Ladder Systems, Zarges GmbH, Jumbor Industrial Co Ltd., Zhejiang Zhongchuang Machinery Co Ltd., Chuangqian Climbing Equipment Co Ltd., Hugo Brennenstuhl GmbH & Co KG, Carbis Solutions Inc., Hasegawa USA Inc., Featherlite Inc., Tianjin Jinmao Group, Louisville Ladder Inc., Zhejiang Youmay Industry Co Ltd., Aopeng Industry Co Ltd., Lynn Ladder & Scaffolding Co Inc., Ruiju Metal Products Factory, Tubesca-Comabi, Scaffolding Co Inc., Baileigh Industrial Holdings LLC, P.W. Platforms Inc., Bauer Ladder Inc., Summit Products LLC, TB Davies (Cardiff) Ltd., Alaco Ladder Inc., Al Jarsh Metal Section Manufacturing Co L.L.C., LockNClimb LLC, Gorilla Ladders, Acro Building Systems, Industrial Products, Clow Group Ltd., Hymer-Leichtmetallbau GmbH & Co KG, Werner Access Products UK Ltd., Hy-Pro Platforms Ltd.
Ladder Market 2024 Key Insights:
• The ladder market size is expected to see strong growth in the next few years. It will grow to $2.9 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%.
• Surging Demand For Fire Escape Ladders Fuels Growth In The Ladder Market
• Strategic Collaborations And Investments Reshape The Landscape Of The Ladder Market
• Asia-Pacific was the largest region in the ladder market in 2023
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