Scaffolding Market Research Report- Forecast 2030

Impact of COVID-19 on the Global Scaffolding Market

The global economy has been hit hard by the COVID-19 pandemic. Due to the outbreak, the construction industry is currently facing disruptive challenges regarding labor shortages, financial pressure, and supply chain problems. This has had a significant impact on the rental construction services, such as scaffolding, roofing, and interiors finishing materials, including acoustic panels, carpets, and fire alarm protection systems. Additionally, the construction industry is highly dependent on China for almost all materials/equipment, and any interruption will impact transport and deliveries of the base buildings by the construction companies and building designers. The next two years are extremely important, as they are expected to regulate the estimated delays in the supply chain and the global impact on the construction industry and the global economy. From India’s standpoint, if the COVID-19 pandemic does not stabilize, the labor force will be hesitant to come back to work. Assuming that workers are ready to work, the cost of ensuring the security of the laborers is expected to increase over the next 2-3 quarters.

Apart from these factors mentioned above, consumer purchasing behavior sentiments are also expected to impact the overall scaffolding market, as consumers will not be willing to invest in housing projects owing to the limited per capita income and fears of unemployment. Scaffolding buyers are expected to delay their purchasing decisions, which leads to a rise in unsold stocks. Therefore, looking at the current scenario, due to the COVID-19 pandemic scaffoldings housing will not be affordable for the stakeholders.

FDI INVESTMENT IN TOP COUNTRIES, 2016–2019 (USD MILLION)