by The global 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 a portable, lightweight ramp used to provide easy access for wheelchairs, walkers, strollers and other rolling equipment with users who may have limited mobility. It generally features an aluminum construction and extends/retracts utilizing gas struts or springs for assisted movement. Telescopic ramps are safer and more practical alternatives to traditional ramps, as they can be easily assembled, stored and transported. Their compact design makes them suitable for both commercial and residential applications.
Market key trends:
One of the major trends in the telescopic ramp market is the growing demand for lightweight and compact designs. With increasing awareness about safety and convenience, manufacturers are focusing on developing ramps that are highly portable but can withstand heavy loads. Additionally, improvements in ramp materials like aluminum and Composite materials have allowed the production of durable yet lightweight telescopic ramps. Another key trend is the availability of custom designed ramps for specialized vehicles like recreational vehicles (RVs), buses and vans. Features like foldability for compact storage and non-slip surfaces are also gaining traction in the market. Innovation in retractable mechanism using gears, springs or gas lifts further provides assisted operation for easy deployment of telescopic ramps.
Porter’s Analysis
Threat of new entrants: New companies can enter the telescopic ramp market easily as the initial investments required are relatively low. However, established players have strong brand recognition and supply chain relationships which pose a barrier.
Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of several manufacturers. However, compliance with standards and certifications is important, increasing switching costs.
Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to the availability of substitute raw materials.
Threat of new substitutes: Substitutes include portable ramps and inclined platforms. However, telescopic ramps offer compact storage and ease of deployment.
Competitive rivalry: The telescopic ramp market is fragmented with the presence of several regional and global players.
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 accessibility solutions from end-use industries like healthcare and construction.
Regional analysis
North America is expected to dominate the telescopic ramp market over the forecast period, accounting for around 35% of global demand. This can be attributed to stringent accessibility norms and the increasing need to assist passengers and workers across various industries. Asia Pacific is anticipated to be the fastest growing market due to rapid urbanization and infrastructure development activities in countries like China and India.
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.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
