Scaffolding Market is prophesied to rise at 6.1% of CAGR during the forecast period between 2018 and 2026

Global Scaffolding Market: Snapshot
A temporary structure used to support the work crew and helps in transporting raw material at the time of construction, repair of building, maintenance, and other man-made structures is known as scaffolding. Scaffolding is widely used on sites to get access to heights and areas where it is hard to reach. In addition, scaffolding is used in adapted forms for grandstand seating, formwork and shoring, concert stages, ski ramps, exhibition stands, access/viewing towers, half pipes and art projects

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According to the type of construction, different raw materials are used for scaffolding. Wood, bamboo, steel, and aluminum are some of the widely used raw material for scaffolding. Renting of scaffolding products is an important source for revenue generation for the players in the scaffolding market. About 80% of the cost of scaffolding is consumed in dismantling, installing, and transportation of scaffolding products. Moreover, lightweight scaffolding is used greatly and helps increasing the productivity of scaffolding products. It also enhances their transportation efficiency.

The global scaffolding market is prophesied to rise at 6.1% of CAGR during the forecast period between 2018 and 2026. The valuation for the market is expected to reach US$ 78.4 by the end of 2026.

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Rapid Growth of Construction Industry to Fuel Scaffolding Market in Developing Regions

The global scaffolding market is categorized on the basis of material, product, location, end-use, and geography. Based on material, the market is segmented into bamboo scaffolding, wood scaffolding, steel scaffolding, and aluminum scaffolding. Of these, the aluminum scaffolding segment is expected to have the highest growth during the forecast tenure. Aluminum is lighter in weight as compared to steel and is required at a high rate in scaffolding that can be manually lifted and placed. Moreover, scaffolding can be built faster with aluminum than steel, thereby reducing labor cost. In developing countries where the labor cost is that expensive, thus, in these countries wooden poles and bamboo are used at a large scale. Several countries in Asia Pacific the use of bamboo scaffolding is high and is favored due to its strength, flexibility, and eco-friendliness.

Based on location, the market is bifurcated in external and internal scaffolding. In 2016, the external scaffolding segment accounted for 83% of the market globally and is projected to continue to dominate over the forecast period. This segment is expected to reach a valuation of US$68.27 bn by the end of 2026. Moreover, external scaffolding present in up to 50% of overall construction of building and ship and on the other hand internal scaffolding is mostly used for maintenance requirements.

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High Sales of Construction Equipment in U.S. of Boost Market in North America
On the regional front, North America is leading the global scaffolding market during the forecast period. One of the major reasons is increasing sales of construction equipment in the U.S. Moreover, in the U.S., the share of rental construction equipment was 35% in 2007 that have risen to 55% in 2017. Thus, this will help in driving the construction industry in the country as well as benefit the regional growth of this market.

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This release was published on openPR.