Telescopic ramps are portable loading platforms that are used to move goods between different levels efficiently and safely. They are composed of multiple ramp sections that can be extended or collapsed as required. Telescopic ramps find wide applications in logistics and transportation industries for loading and unloading goods from trucks, trailers, and containers. With the rapid growth of e-commerce, there has been a significant rise in package delivery volumes. This has increased the demand for efficient loading solutions from logistics companies.
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 5.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Growing E-commerce Industry: Expansion of the e-commerce sector has led to a surge in parcel deliveries across various regions. According to India Brand Equity Foundation, the Indian e-commerce market is expected to reach US$ 200 billion by 2026 from US$ 38.5 billion as of 2017. Rising online shopping is exerting immense pressure on logistics and transport companies to deliver packages on time. This has increased adoption of telescopic ramps, which offer fast and effortless loading/unloading during parcel deliveries. This factor is expected to drive the telescopic ramp market growth over the forecast period.
Safety Features of Telescopic Ramps: Telescopic ramps are equipped with safety locking pins and side safety rails to prevent accidental collapse or falls during loading/unloading. They also have anti-slip surfaces and optional wheel brakes. Their modular, portable, and compact designs allow easy set up at loading docks of varied heights. Compared to fixed ramps, telescopic ramps offer higher safety and flexibility. Their safety features help transport and logistics companies comply with shifting government regulations, thereby augmenting the product demand.
Segment Analysis
The global telescopic ramp market can be segmented based on product type, end use industry and geography. Based on product type, the market is segmented into aluminum ramps and steel ramps. Aluminum ramps have emerged as the dominating segment as aluminum is lighter in weight than steel and hence easy to transport and handle. Based on end use industry, the market is segmented into railway stations, bus stations, airports, residential and commercial spaces. Railway stations and bus stations collectively account for over 60% of the market share due to extensive use of telescopic ramps at these places for easy boarding and deboarding of passengers.
PEST Analysis
Political: Governments in various countries are increasingly focusing on improving accessibility infrastructure and are promoting use of telescopic ramps through regulations and investments. This is boosting market growth.
Economic: High disposable incomes, growing infrastructural investments and travel & transportation sector have positively influenced the demand for telescopic ramps. This trend is expected to continue in developing regions.
Social: IncreasingPreference for convenience and accessibility is driving the demand for telescopic ramps across public places. Also, growing focus on inclusive development is promoting use of ramps.
Technological: Advancements in materials like lightweight aluminum alloys have improved design and functionality of telescopic ramps. Motorized ramps with automatic extend-retract mechanisms are gaining traction.
Key Takeaways
The Global Telescopic Ramp Market Size is expected to witness high growth over the forecast period driven by rapid infrastructural development worldwide alongwith growing focus on universal accessibility and convenience. 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 5.2% over the forecast period 2023 to 2030.
The Asia Pacific region led by China, India and Japan is projected to witness fastest growth supported by strong economic growth, policy push for improved public infrastructure and increasing urban population. North America currently dominates the market owing to stringent regulations and growing focus on barrier-free infrastructure in the region.
Key players operating in the telescopic ramp market include Akzo Nobel N.V., The Sherwin-Williams Co., Axalta Coating Systems, Weilburger Coatings GmbH, Hempel A/S, HSH Railway Finishes, PPG Industries, Inc., HELIOS, Teknos Group, and Nipsea Group. Akzo Nobel and Axalta coatings emerged as the key players in ramp coatings segment owing to their extensive portfolio and global footprint.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
