Pune, India, February 2021, MRFR Press Release/- Market Research Future has published a Cooked Research Report on the Global Scaffolding Market.
Global Scaffolding Market is projected to be valued at USD 2.4 Billion by 2026, with a 5.4% CAGR during the forecast period.
The report covers segmentation and drivers for a better glimpse of the market in the coming years. The scaffolding market has registered significant growth in adoption rates over the past few years in developing nations, such as China, India, and Brazil, owing to the increasing investments in smart city projects.
Global Scaffolding Market is characterized by the presence of many global, regional, and local vendors. The market is highly competitive, with all the players continually competing to gain a larger market share. High competition, rapid advances in technology, frequent changes in government policies, and stringent environmental regulations are some of the critical factors that could restrain the market growth. The vendors compete based on cost, product quality, reliability, and services. It is crucial for vendors to provide cost-effective and efficient products to survive and succeed in a competitive market environment.
The growth of the vendors is dependent on market conditions, government support, and industrial development. Thus, the vendors should focus on expanding their presence and improving their services. Wilhelm Layher GmbH & Co. KG., Brand Industrial Services, Inc., Waco International, ULMA CYE, S. Coop., and PERI are some of the key players operating in the global market. These companies compete in terms of availability, quality, price, and technology. These companies account for 28.6% of the global scaffolding market. They consider product development as a key strategy in the global scaffolding market. Although the international players dominate the market, regional and local players with small market shares also have a significant presence. Altrad, ADTO INDUSTRIAL GROUP CO., LTD, Comipont S.p.A, Muehlhan A/S, ASA Scaffolding Services, Condor S.p.A., Apollo Scaffold Services, Brand Industrial Services, Inc, and KHK Scaffolding & Formwork LLC are some of the other key players operating in the global scaffolding market.
The increasing investments in smart city projects and developments in the construction industry will spur market growth. The global market for scaffoldings has been segmented based on type, material, application, and region.
Based on type, the global scaffolding market has been segmented into supported scaffolding, suspended scaffolding, and rolling scaffolding. In 2019, the supported scaffolding segment accounted for the largest market share of 65.9%. It is projected to register a significant CAGR during the projected timeframe.
Based on material, the global scaffolding market has been segmented into steel, aluminum, wood, and others. In 2019, the steel segment accounted for a considerable market share of 47.9%. It is projected to register a significant over the forecast period.
Based on application, the global scaffolding market has been segmented into construction, shipbuilding, electrical maintenance, industrial, and events. In 2019, the construction segment accounted for a considerable market share of 61.5%. It is projected to register a lucrative growth rate over the forecast period.
Browse Full Report Details @ https://www.marketresearchfuture.com/reports/scaffolding-market-4900
Geographic analysis of the Scaffoldings Market spans across North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.
Asia-Pacific is a key market for scaffolding due to the presence of a rapidly growing construction industry. Additionally, the growing population and rising urbanization in the region are some of the significant factors which are leading toward the growth of the market. The rising demand for commercial buildings such as corporate offices, malls, hospitals, and shops is also resulting in high demand for scaffolding in the region. Asia-Pacific is segmented as China, Japan, India, and the rest of Asia-Pacific.
The increasing population in China, which is one of the major factors, boosts the demand for new infrastructure and housing in the country. Similarly, the increasing per capita disposable income among individuals is another key factor driving the growth of the construction industry leading to the growth of the China scaffolding market. The increasing tourism in these countries has led to the development and construction of new buildings, hotels, malls, and amusement parks, among other such infrastructure, eventually increasing the demand for scaffolding in the region. The growing construction industry is projected to propel the demand for scaffoldings in Asia-Pacific.