Global Scaffolding Market Projected To Grow by 2023

Global Scaffolding Market research report, Global Scaffolding Market forecast , Global Scaffolding Market trend , Global Scaffolding Market share, Global Scaffolding Market size, Global Scaffolding Market analysis

Scaffolding or scaffolds are temporary structures used in assisting construction workers in completing the design of residential, industrial, and commercial buildings. Rise of infrastructural projects for modernization or renovation can require scaffolds in huge volumes. The global scaffolding market report by Market Research Future (MRFR) contains an overview of the industry, its applications, estimations on market size and growth, and projections for the period of 2017 to 2023 (forecast period). The COVID-19 pandemic and its impact has been analyzed for the market.

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Market Scope

The global scaffolding market is expected to grow at a CAGR of approximately 5.14% during the forecast period.

The market is driven by huge foreign investments by worldwide manufacturers in APAC, government policies, and development of cities in urban areas. Scaffolding taken on rent for upkeep of constructed buildings can bolster the sales of the market. Safety policies rolled out for laborers as well as new union rules for supported scaffolding solutions can bode well for the market. Prefabricated buildings and adherence to safety guidelines can lead to new opportunities for the market.

The COVID-19 pandemic has negatively impacted the scaffolding industry with movement restriction orders and shortage of manpower at construction sites. In addition, the dependence on China for raw material supply, dip in consumer interest in houses, and shrinking economic growth can lead to a sluggish growth for the market. But in a positive light, AT-LARS has created the first micro treatment facility in Indonesia to curb rising cases of COVID-19 cases using scaffolding.

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Segmentation

The global scaffolding market is segmented, by type, into suspended scaffolding, rolling scaffolding, and supported scaffolding. The supported scaffolding segment accounted for the largest market share of 68.81% in 2016 with a market value exceeding USD 9,700 million. It is projected to grow at the highest CAGR during the forecast period. Anti-corrosion and rugged qualities in high-rise buildings can spur the segment growth in the market.

Based on type, the market is segmented as steel, aluminum, wood, and others. Steel accounted for the largest market share of about 46.28% in 2016, with a market value of more than USD 6,500 million. It is projected to grow at the highest CAGR during the forecast period.

Based on the application, the market has been segmented into construction industry, electrical maintenance, temporary stage, and others. The construction industry accounted for the largest market share of about 67.65% in 2016, with a market value of more than USD 9,500 million. It is projected to grow at the highest CAGR during the forecast period.

Regional Analysis

The Asia Pacific (APAC) is expected to be a golden goose for the global scaffolding market due to the sheer number of construction projects that are set to go underway. With nations such as India and China intending to strengthen their infrastructural base, government aids, subsidies, and incentives are set to attract significant investment in the region. The increasing population, lack of proper housing, and rising standards of living are set to drive the scaffolding market in the region. New modular housing facilities and development of conceptual buildings can spur the market.

In North America, construction can witness resurgence after a prolonged period of stagnation. This has been the most pronounced in the residential sector, where household deleveraging, flat hourly wages, and dip in jobs had stifled the demand for new home construction.

The scaffolding markets in Latin America and Middle East & Africa (MEA) are exhibiting great potential for future growth due to the continuous economic growth and urbanization in these regions.

Competition Outlook

Stepup Scaffold, LLC, ADTO Industrial Group Co., Ltd., Entrepose Echafaudages Itsen Construction Equipment (Guangzhou) Co. Ltd., ULMA Construction, Youying Group Rapid Scaffolding Engineering Co. Ltd, Safway Group Holding LLC, Rizhao Fenghua Scaffolding Co. Ltd., Wilhelm Layher Holding GmbH & Co. KG, Beijing Kangde, Changli XMWY Formwork Scaffolding Co., Ltd., Altrad Group, KHK Scaffolding & Formwork LLC, Cangzhou Weisitai Scaffolding Co.Ltd., Waco Kwikform Limited, PERI GmbH, MJ-Gerüst GmbH, Instant Upright, Tianjin Gowe Industrial Co. Ltd., and Tianjin Wellmade Scaffold Co. Ltd. are key players of the global scaffolding market.

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