PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1498751
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1498751
Telescopic Ramp Market size was valued at USD 751.93 Million in 2023, expanding at a CAGR of 8.10% from 2024 to 2032.
The telescopic ramp is one kind of portable ramp that can be used by those with mobility disabilities. When it comes to accommodating different height disparities and spaces, telescopic ramps can be stretched or contracted, unlike standard fixed ramps.
Telescopic Ramp Market- Market Dynamics
Growing demand for accessibility solutions and rise in the tourism sector are expected to propel market demand
There's a growing market for devices such as telescopic ramps that make it easier for individuals with disabilities to enter cars and other locations, as awareness of accessibility rights and requirements rises. The need for goods that help seniors and those with age-related mobility limitations move around is growing as the world's population ages. For this population, telescopic ramps offer a practical way to enter various settings securely. Telescopic ramps are now easier to handle and transport because of the development of stronger, lighter materials thanks to technological improvements. Furthermore, cutting-edge design elements improve safety and usefulness, which increases consumer demand.
The demand for accessibility solutions in hotels, airports, tourist destinations, and other public spaces is rising because of the tourism and travel industry's rapid expansion. To guarantee that these areas are accessible to all users, telescopic ramps are essential. The telescopic ramp industry is seeing growth due to emerging economies' rapid urbanization and infrastructural development. Ramps and other accessibility elements are required when new structures and transit networks are built in order to accommodate a variety of people.
Telescopic Ramp Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 8.10% over the forecast period (2024-2032)
Based on Type segmentation, the manual ramp segment was predicted to show maximum market share in 2023, owing to high demand from the building & infrastructure sector.
Based on Application segmentation, the commercial segment was the leading Application in 2023, due to the high need for telescopic ramps in commercial events, and access solutions.
Based on End User segmentation, the travel & tourism segment was the leading End User in 2023, owing to the high range of people trends of travel & tourism.
On the basis of region, North America was the leading revenue generator in 2023, owing to high number of people coming for tourism.
The Global Telescopic Ramp Market is segmented on the basis of Type, Application, End User, and Region.
The market is divided into three categories based on Type: manual ramp, electric ramp, and folding ramp. The manual ramp segment dominates the market. Electric ramps are also estimated to further propel the market growth.
The market is divided into two categories based on Application: enterprise and commercial. The commercial segment dominates the market. The increasing demand for ramps in the commercial sector for accessibility purposes is mainly boosting the segment growth.
The market is divided into four categories based on End Users: Travel & Tourism, buildings & transportation, retail, and others. The travel & tourism segment dominates the market and is expected to maintain its high dominance during the forecast period. The buildings & transportation segment is anticipated to expand at a significant rate over the forecast period.
Telescopic Ramp Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. The growth is fueled by heightened awareness about accessibility, the popularity of recreational vehicles (RVs), and the demand for ramps in commercial vehicles. On the other hand, European regions benefit from advanced healthcare infrastructure and strong support for accessibility solutions.
The Telescopic Ramp market is mainly dominated by large market players. Further, major players in the global market focus on new product development, strategic initiatives like collaboration, investment to increase their market presence. Prominent players face competition from new entrants and regulatory changes which might impact on its market share. Key players include Roll-A-Ramp, HomCom, MOTIS Brands, PVI Ramps, etc.
In January 2024, MOTIS Brands acquired Titan Ramps to expand their assortment and increase reach through distribution channel.
In 2022, PSV Ramps acquired Companion Ramps, which is a leading player in telescopic ramps, to increase market revenues.