The global aluminum ladder market is expected to reach the market value of $900 million by 2025 and is anticipated to grow at a CAGR of 9% from 2018 to 2025
LOS ANGELES, June 06, 2019 (GLOBE NEWSWIRE) — Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Aluminum Ladder Market (Product: Step Ladder, Straight Ladders, Extension Ladder, Other types, Others; Application: Domestic, Commercial, Industrial) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 – 2025”.
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With changing lifestyle and increasing disposable income, the rising demand for extension ladder in industry application is growing. Furthermore, the growth of step ladders has declined owing to the availability of better, safer and efficient step, extended and combination ladder options for multiple industry applications. Global expansion in application of ladders has resulted in the diversification of extension ladder range. These ladders are still in their development phase and have immense potential to possess a strong substitute to straight and step ladders by offering higher reach.
Consumer Preferences in Asia-Pacific Economies Such As China and India Help To Grab a Major Share in Global Market
Growing demand for aluminum in emerging economies such as China is expected to drive aluminum ladders market. Developing countries in Asia-Pacific such as China, India, and others are observing variations in customer preferences. The region held the fastest growing market during the forecast period. With increasing urbanization, industrialization, disposable income and rising awareness for better ladders, the domestic, commercial and industrial expenditure is rising in the region. Strong developing nations like India and China have launched several programs to create awareness and support adoption of safer aluminum ladders suited for particular tasks.
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Wide Application in Automobile Sector Helps North America to Retain a Significant Share In 2017
North America holds a significant share in the market for aluminum ladder owing to wide application in automobile sector in the region. Aluminum ladder are used in designing chassis of light and heavy vehicles. Additionally, high spending capacity of people in the region is fueling the construction industry, thereby supporting the growth of aluminum ladder market.
There are significant substitutes that might pose a threat to the aluminum ladder market. With increasing technological advancements, the fiber glass ladders are emerging as potential substitutes to the aluminum ladder market. Limitations of the aluminum ladders pave the way for the application and use of the substitute ladder types.
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Ladders in domestic market application are used to get things kept beyond the regular height of the consumer. They are also used during multiple household activities such as cleaning, white-washing, and other everyday tasks around the house. Commercially, aluminum ladders are used in commercial construction projects. Aluminum ladders are used in electricity firms, repairing business, shops, stores, and other such commercial applications. Industrial ladders are exceptional regular ladders used only for industrial purposes. Ladders permit workers to position safely on them and effectively access various equipment, projects and materials. Industrial ladders come in a variety of designs and features and are used to perform both common as well as unique tasks by an operator. These ladders equally allocate load and therefore, avoid accidents while a worker is trying to climb.
Key Players and Strategies
The market concentration of the top 6 companies such as Werner, Louisville Ladder, Little Giant Ladder, and Featherlite, Bauer Corporation, is moderate.
The key suppliers of aluminum ladders usually focus on long-term goals and sustainable growth. The best brand leaders fight against short-term focus, because being short-sighted could be a brand killer. They tend to stay flexible with their strategies owing to the technological developments and threat of new entrants. For sustainable growth, companies continually invest time and money in R&D area to make the product smarter, faster, smaller, cheaper and reliable. A specific, achievable brand strategy is an essential component of any business, because it affects every area of your business.
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