ID: MRFR/CO/3470-CR | February 2020 | Region: Global | 206 pages
Scaffolding Market is expected to grow with a CAGR of approximately 6.3%, during the forecast period.
Scaffolding is a useful process in the construction sector. Scaffolding is a platform that helps cleaning, building, renovation and repair works. The reception and dismantling of the scaffold is a complex task. The worker requires working at heights and taking safety measures from falling from heights. The scaffold is made of a room of wood and steel. There are three crucial segments in the scaffolding market. Rolling scaffolding, support scaffolding and suspended scaffolding are the crucial segments. The scalding is beneficial in the construction, electricity and temporary stage units. The structure of the scaffolding supports the platform.
Mostly the scaffoldings are made from strong wood, steel and aluminium materials. The development of the infrastructure industry is the crucial reason for high Market Growth. The rising requirements for the construction of residential and commercial buildings increase the use of scaffolding. A durable and well-built scaffold can offer proper support to construct a building exceptionally. Due to these excellent uses, the market is witnessing high demand. The global Market Size will rise by 5.14% in the forecast period. Also, the Market Value will reach the highest rates during the forecast period.
The global economy is facing severe damages due to the outbreak of covid 19. The construction industry is facing plenty of challenges in this period. The shortage of raw materials, fewer labours and investments are few challenges. These restraints in the construction market are affecting the scaffolding market. Also, there is supply chain disruption in the construction market. Most of the construction materials require to be transported from one region to another. However, all these operations have come to a halt during this period. Due to these reasons the market will suffer from several losses. Also, it is a difficult task for the key players to recover from this market situation. However, Post covid 19 Market Outlook will become normal.
The demand from the residential construction sector is a crucial driver for the market. There is always a need for scaffolding in the infrastructure sector. Also, the new range of high rail constructions has the highest need for scaffolding. The Asia Pacific region is well known for its high trails constructions. With the use of scaffolding, the constructors can easily transport materials to the top of building construction. The scaffolding provides a stair-like structure to support the complete building work. During the forecast period, the demand from the construction sector will be the crucial driver for the market.
Further, the rise of building repair, cleaning and renovation is another driver for the market. The government is investing more in the renovation and cleaning of ancient buildings. These factors affect the market positively during the forecast period. Also, the increase in FDI construction is another crucial driver for the market. The scaffolding protects the labours in construction sites from accidents. The possibilities are falling from heights is more in the construction site. However, the government initiatives to increase the safety of construction labours are driving the demand for the market. This governmental support encourages the constructors to use scaffolding to prevent accidents on the constructions site. All these are the crucial drives of the market. These drivers will have a massive impact on the demand, growth and predictability of the global market.
The infrastructure development in plenty of regions is going to be massive in the forecast period. The immense growth in infrastructure both residential and non-residential construction will create plenty of growth opportunities for the scaffolding market. The covid 19 has affected the market adversely. The market is receiving fewer growth opportunities from the construction industry.
However, the new initiatives by the government to improve the infrastructure of a company can provide more growth opportunities for the market. The global market is also witnessing exceptional developments. The use of high-end materials and structures that support the building are a new development in the market. These developments will provide more opportunities for the overall market.
The scaffolding market has plenty of price fluctuation of raw materials. The scaffold is made from wood, steel and aluminium products. The price of these products may vary often. Also, sometimes the price fluctuations of the cement, sand and other construction materials can affect the overall growth. The price fluctuations are a major restraint as they can affect the Market Revenue. Fluctuating revenue can result in market inconsistencies. In the forecast year, it is estimated that the price fluctuations on construction materials will be massive. This issue can hamper the overall Market Growth rate.
The slower economic growth can affect the scaffolding market. The construction sector is easily affected by any external factors. The cost of raw materials, labour and slowing economic growth can affect profitability. Due to the decline in the construction market, the market is facing less demand in recent years. The slowdown in economic growth means the decline in the disposable incomes of individuals.
It restricts individuals from purchasing houses and investing in the construction sector. The investments in the construction industry seem to be less in the forecast. These factors can affect the markets that are connected with the construction industry. The scaffold market is one of the crucial markets that are prone to these challenges. Also, these challenges ca change the Market Trends.
The construction sectors around the globe are rapidly adapting to scaffolding. It is a crucial procedure for every construction facility to build durable and strong buildings with safety. The adoption of scaffolding in the forecast period is immense. However, the less demand in the construction industry can affect the growth trend of the market. The market has sectional drivers as well as challenges. The drivers of the market such as the construction of high rail buildings will boost the demand. However, the challenges such as the cost of raw materials can have a declining effect on the market. Overall the market growth rate of scaffolding remains moderate over the forecast period.
The Asia Pacific region will dominate the scaffolding market by holding the largest Market Share. The construction sector is booming in the Asia Pacific region. Further, the investments in infrastructure are exceptional in Asia pacific. All these factors make the market in Asia pacific profitable. India and China are the crucial Asian countries that are responsible for exceptional market growth rates. The government has announced plenty of initiatives to enhance the market in Asia pacific. It is expected that more than billions of investments will be accommodated for the construction of public infrastructure. The constructions for the buildings and bridges increase the requirement for scaffolding in the forecast period.
The scaffolding market is fragmented into Asia Pacific, North America, Europe, Latin America, middles and Asia pacific. All these regions are the key contributors to the market. Asia pacific will outgrow the other regional players. The demand and Market Revenue rate in Asia pacific is massive. The growing hospitable, instruction, residence and other building infrastructure developments are resulting in more market growth. The scaffolding also prevents the number of labour accidents in the region. The increasing government support to use scuffling is benefiting the overall Asia Pacific market.
North America is another crucial regional player in the market. North America is known for its high investments rates and disposable income. The investments in the construction sector are higher. It is ultimately increasing the demand for scaffolding. Europe is the next large market. There are plenty of key players in the market. There is the market expansion and highest production rate recorded in this region. Latin America and Middle East Africa are emerging markets with plenty of growth prospects. The other key players of the market are trying to improve production in Latin America and the Middle East. The raw materials availability is more in this region that will lead to further developments.
The key players of the scaffolding market are
Layher Holding GmbH & Co has released the Allround Scaffold named after the company which can be the best option in modular scaffolding. Fast assembly of components and an extended range of accompanying accessories which can provide structural support to buildings is likely to lead to high sales.
|Market Size||2027: USD 81 Billion|
|CAGR||6.3% CAGR (2020-2027)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||by Technology, by Application, by Material|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Wilhelm Layher Holding GmbH & Co. KG, Safway Group Holding LLC, PERI GmbH, Altrad Group, ULMA Construction, MJ-Gerüst GmbH, Waco Kwikform Limited, Stepup Scaffold, LLC, ADTO Industrial Group Co., Ltd., Changli XMWY Formwork Scaffolding Co., Ltd. Beijing Kangde, Cangzhou Weisitai Scaffolding Co.Ltd|
|Key Market Opportunities||
|Key Market Drivers||Increasing FDI in construction|
Frequently Asked Questions (FAQ) :
A 6.3 % CAGR is anticipated to motivate the market towards a favorable growth curve.
The contenders in the market such as MJ-Gerüst GmbH, Waco Kwikform Limited, Stepup Scaffold, LLC, ADTO Industrial Group Co., Ltd., Changli XMWY Formwork Scaffolding Co., Ltd. Beijing Kangde, Cangzhou Weisitai Scaffolding Co.Ltd., Instant Upright, Tianjin Wellmade Scaffold Co. Ltd. Are showing a great degree of potential.
The resurgence of the construction sector along with the increased safety regulations are expected to stimulate the market in the coming period.
The APAC region is expected to be seen at the helm of the development in the scaffolding market over the forecast period.