Press release
Global Scaffolding Market: key Vendors, Trends, Analysis, Segmentation, Forecast to 2022-2030
Global Scaffolding Market looking at success with 5.14% CAGR between 2017 and 2023 due to rising investment and supportive government regulations
The key players in the global scaffolding market include ADTO Industrial Group Co. Ltd. (China), Altrad Group (France), Beijing Kangde (China), Cangzhou Weisitai Scaffolding Co.Ltd. (China), Changli XMWY Formwork Scaffolding Co. Ltd. (China), Entrepose Echafaudages Itsen Construction Equipment (Guangzhou) Co. Ltd. (China), Instant Upright (Ireland), KHK Scaffolding & Formwork LLC {United Arab Emirates (UAE)}, MJ-Ger st GmbH (Germany), PERI GmbH (Germany), Rizhao Fenghua Scaffolding Co. Ltd. (China), Safway Group Holding LLC (USA), Stepup Scaffold LLC (USA), Tianjin Gowe Industrial Co. Ltd. (China), Tianjin Wellmade Scaffold Co. Ltd. (China), ULMA Construction (Spain), Waco Kwikform Limited (Australia), Wilhelm Layher Holding GmbH & Co. KG (Germany), and Youying Group Rapid Scaffolding Engineering Co. Ltd. (China).
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Scaffolding involves alteration or dismantling of a temporary structure that has been specifically erected to support a platform. It is a type of prefabricated construction where structures or components of construction are built off-site and are later erected on site. Market Research Future (MRFR) has published and released a research report about the global scaffolding market that predicts growth for this market with 5.14% CAGR during the forecast period between 2017 and 2023.
The key factors driving the global scaffolding market include Foreign Direct Investment (FDI) in construction in regions like the Asia Pacific, and supportive government regulations and policies. However, some factors that can restrain the market growth include fluctuation in raw material prices and slower economic growth.
Latest Industry News
11 OCT 2018: An experienced AIS Training instructor has visited Ecuador to develop and implement basic scaffolding awareness training with Jan de Nul staff working onboard vessels. The staff is currently aiding in the construction of a new container port in the region.
3 OCT 2018: The overseas arm of Construction Industry Scaffolders Record Scheme (CISRS), the Overseas Scaffolding Training Scheme (OSTS) has once again increased its reach in the Middle East with the addition of a newly accredited training center in Qatar.
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Market Segmentation and Regional Analysis
The global scaffolding market has been segmented on the basis of application, material, type, and region. Based on application, this market has been segmented into the construction industry, electrical maintenance, temporary stage, and others. The report estimated construction industry is accounting for the largest market share of about 67.65% in 2016, with a market value of more than the US $ 9,500 mn which is expected to grow during the forecast period. The material-based segmentation of the market covers aluminum, steel, wood, and others. Among these, steel accounted for the largest market share of about 46.28%, in 2016. In terms of cash, its market value was approximately US $ 6,500 mn; which is expected to increase throughout the forecast period. By type, the market has been segmented into rolling scaffolding, supported scaffolding, and suspended scaffolding. Supported scaffolding segment held the largest market share of about 68.81% in 2016, with a market value of more than the US $ 9,700 mn and it is expected to grow during the forecast period.
The regional segmentation of global scaffolding market segments the market into continent-based regional markets namely North America, Europe, Asia Pacific, and the rest of the world (RoW). With a share of more than 45%, so far the Asia Pacific has led the global market, and the status quo continues till the end of forecast period. This is because this region comprises large country-specific markets such as China, India, and Japan. However, the pace of growth is expected to be low, given the relative sluggishness in China s Construction industry, whose expansion will be undermined by the glut of new residential properties. The global scaffolding market has been anticipated to grow at a faster pace than world Gross Domestic Product (GDP) over the forecast period due to a rise in the global construction industry, as Asian economies continue to industrialize and urbanize. Other important country-specific markets in this region are Australia and South Korea, followed by the rest of the Asia Pacific region.
In North America, construction has recently started experiencing growth after a prolonged period of stagnation. Most of the growth so far is in the residential sector, where flat hourly wages, household deleveraging, and slack labor markets have stifled the demand for new home construction. During the forecast period, North America is expected to witness gradual growth in the construction industry, which in return will positively affect the growth of scaffolding market. In this region, the most important country-specific markets are the United States of America (USA), Canada, and Mexico.
Europe is another important regional market because the market for both residential as well as non-residential constructions is active and well-established in Europe. Therefore, the growth in limited. The maximum market revenue in this region comes from France, Germany, Italy, and the United Kingdom (UK), followed by the rest of Europe. In RoW segment, most of the important markets are in Latin America and the Middle East & Africa region. Many countries here are newly experiencing urbanization. Therefore, the market here is slow and limited.
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