LONDON–(BUSINESS WIRE)–Technavio’s latest market research report on the global ladder market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio market research analysts, the global ladder market will grow at a CAGR of over 5% during the forecast period. The increasing residential and commercial construction activity is a major factor driving the market’s growth.
Ladders are usually used for domestic and commercial applications. Ladders are also used in the construction industry. Thus, the increasing residential and commercial construction activity will drive the growth of the global ladder market during the forecast period. Residential and commercial construction activity is expected to grow significantly during the forecast period because of the economic growth and increasing spending. Construction investments in developed countries in APAC such as Japan, South Korea, and Australia grew by over 2% in 2017. A major portion of such investment was spent on residential construction. The demand for commercial buildings for office space is also increasing across the world.
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
Save more with Technavio. Buy 2 reports and get the third for FREE: View all Technavio’s current offers
In this report, Technavio highlights the increasing popularity of fiberglass ladders as one of the key emerging trends in the global ladder market:
Increasing popularity of fiberglass ladders
Apart from traditional raw materials such as wood, steel, aluminum, and iron, many vendors use fiberglass to manufacture ladders. Fiberglass ladders are generally known as glass-reinforced plastic (GRP) ladders. In the US, around 53% of the ladders are made of fiberglass. The demand for fiberglass ladders is expected to increase during the forecast period because of the advantages associated with them. One of the advantages associated with fiberglass ladders is that they are durable as they are weather and rust resistant. This makes them ideal for applications such as painting and decoration. These ladders are lightweight and therefore, can be easily moved from one place to another.
“Fiberglass ladders are resistant to denting and twisting owing to the high tensile strength of the raw material, and they are a good insulator of electricity. Thus, fiberglass ladders are suitable for applications that need them to come directly into contact with the power supply. The advantages of fiberglass ladders make them suitable for multipurpose applications. The demand for multipurpose ladders is increasing, which will increase the adoption of fiberglass ladders during the forecast period,” says a senior analyst at Technavio.
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Global ladder market segmentation
This market research report segments the global ladder market into the following applications (industrial, domestic, and commercial) and key regions (the Americas, APAC, and EMEA).
The industrial segment held the largest market share in 2017, accounting for more than 42% of the market. This segment is expected to witness steady growth and dominate the global market during the forecast period.
APAC was the leading region for the global ladder market in 2017, accounting for a market share of over 40%. It was followed by EMEA and the Americas respectively. APAC is anticipated to dominate the market throughout the forecast period.
Technavio supports Health for All campaign on this World Health Day with 20% savings on all reports in the Health and Wellness category for the entire month.
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at [email protected].
Latest posts by Jasmine Petters (see all)
- American Academy of Thermology 2018 Annual Scientific Session Awarded 6.5 hours of AMA PRA Category 1 CME - May 20, 2018
- Strong Programme Raises Profile of the Maritime Standard Ship Finance and Trade Conference - May 20, 2018
- Pegasus Food Futures Announces Appointment of Stefanie Paterson as Head of Human Resources - May 20, 2018