The Telescopic Ramp market is estimated to be valued at US$ 746.9 Mn in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
A telescopic ramp is an extendable ramp used for loading and unloading from vehicles or for building access. It is comprised of multiple sections nested together that slide out linearly to create a sloped walking surface. Telescopic ramps provide accessibility solutions at airports, seaports, warehouses and other buildings. They are suitable for loading baggage, cargo, wheelchairs and goods on aircraft, ships, trucks and other large vehicles.
Market Dynamics:
Growing maritime trade activities as well as increasing sea-borne transportation are major factors driving the demand for telescopic ramps at seaports globally. According to the United Nations Conference on Trade and Development (UNCTAD), total maritime trade increased from 10.7 billion tons in 2012 to 11.08 billion tons in 2020. Moreover, rising air passenger and freight traffic is augmenting installations of telescopic ramps at airports. As per International Air Transport Association (IATA), air passenger numbers grew from 3.8 billion in 2019 to 4.5 billion in 2022, surpassing pre-pandemic levels.
The growth in the elderly population who require wheelchair assistance also presents opportunities for telescopic ramp providers. In addition, rising construction of accessible public infrastructure is boosting the need for telescopic ramps to provide ease of mobility. Favorable regulations regarding barrier-free buildings and facilities further propel the market growth. However, high installation and maintenance costs of telescopic ramps could hinder the market expansion.
SWOT Analysis
Strength:
- Telescopic ramps are lightweight and portable which makes them easy to transport and store. They require very less space for storage.
- These ramps are cost effective as compared to permanent ramps. They do not require high initial investment.
- Telescopic ramps provide flexibility of using them at multiple locations as per requirement.
Weakness:
- Telescopic ramps may not support heavy loads as their structure is lightweight. They have weight limits.
- Quality of folding may degrade with frequent use over long term. Proper maintenance is required.
Opportunity:
- Growing infrastructure especially in developing countries provide scope to use temporary and portable ramps for different purposes.
- Increasing awareness about accessibility and demand for user-friendly infrastructure opens up market for telescopic ramps.
Threats:
- Stiff competition from local players offering lower cost ramp solutions.
- Availability of alternative folding ramp designs may impact sales.
Key Takeaways
The Global Telescopic Ramp Market Size is expected to witness high growth, exhibiting CAGR of 6.7% over the forecast period, due to increasing demand for portable and affordable access solutions from construction as well as industrial sector.
Regional analysis
North America dominates the global telescopic ramp market owing to stringent regulations regarding accessibility. Asia Pacific exhibits fastest growth in the market led by booming infrastructure development in China and India. Europe and Latin America also present lucrative opportunities for telescopic ramp manufacturers.
Key players
Key players operating in the telescopic ramp market are Prairie View Industries, EZ-ACCESS, Roll-A-Ramp, SafePath Products, PVI Ramps (Handi-Ramp), Bridjit Curb Ramps, HomCom (Aosom LLC), Titan Ramps, Bluff Manufacturing, National Ramp, Handicare Group AB, Tri-Boro Construction Supplies, Vestil Manufacturing, Ruedamann Official Store, Discount Ramps. The market is highly competitive with these global as well as regional players.
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