Market Research Future (MRFR) expects the global scaffolding market to grow at a CAGR of approximately 6.3% from 2020 to 2027 (forecast period).
Scaffolding is characterized as the erection, alteration or dismantling of a temporary structure, specially erected to support a platform. Scaffolds are widely used for working at heights, and it involves the risk for a scaffolder (person working on a scaffold) to fall from an incomplete scaffold during the erection and dismantling of a scaffold.
Scaffolding is a form of prefabricated construction that entails large structures or components of construction built off-site, generally at factories to be erected later on-site on a concrete foundation. Increasing FDI in construction in the Asia Pacific region and supportive government regulations and policies are driving the scaffolding market. The scaffolding market is constrained by factors such as fluctuating raw material prices and slower economic growth, which impede market growth.
Get Free Sample PDF Brochure
COVID-19 Impact on the Global Scaffolding Market
The COVID-19 pandemic has had a major impact on the global economy. The construction industry is currently facing disruptive challenges as a result of the outbreak, including labor shortages, financial strain, and supply chain issues. This has had a direct effect on rental construction services such as scaffolding, roofing, and interior finishing materials like acoustic panels, carpets, and fire alarm protection systems. Furthermore, the construction industry is heavily reliant on China for almost all materials and machinery, and any disruption would have an effect on the transport and delivery of base buildings by construction firms and building designers. The next two years will be crucial in regulating the projected supply chain delays as well as the global effect on the construction industry and the global economy. In India, if the COVID-19 pandemic does not recover, the labor force would be reluctant to return to work. Assuming employees are ready to work, the cost of maintaining laborer protection is projected to rise over the next 2-3 quarters.
Aside from the factors mentioned above, consumer buying behavior sentiments are expected to have an effect on the overall scaffolding market, as consumers would be unwilling to invest in housing projects due to low per capita income and unemployment fears. Scaffolding buyers are expected to postpone their purchases, resulting in an increase in unsold stocks. As a result, in the present situation, scaffoldings housing would be unaffordable for stakeholders due to the COVID-19 pandemic.
Speak to Analyst@ https://www.marketresearchfuture.com/ask_for_schedule_call/4900
The global scaffolding industry has been segmented into type, material, and application.
Based on type, the global scaffolding industry has been segmented into supported scaffolding, suspended scaffolding and rolling scaffolding. The supported scaffolding segment held the largest market share of about 68.81% in 2016, with a valuation of more than USD 9,700 million. It is expected to grow at the highest CAGR during the forecast period.
Based on material, the global scaffolding market has been segmented into steel, aluminum, wood, and others. Steel captured the largest market share of about 46.28%, in 2016, with a market value of more than USD 6,500 million; anticipated to grow at the highest CAGR during the forecast period.
Based on the application, the global scaffolding market has been segmented into the construction industry, electrical maintenance, temporary stage, and others. Construction Industry earned the largest market share of about 67.65% in 2016, with a market value of more than USD 9,500 million. It is anticipated to grow at the highest CAGR during the forecast period.
Based on geography, the global scaffolding market has been classified as Europe, North America, Asia Pacific, and the Rest of the World.
In 2016, Asia Pacific led the global market with a share of more than 45%. Since it includes vast markets such as China, India, and Japan, Asia Pacific is projected to continue to account for the lion’s share of the global scaffolding industry. The pace of growth, however, will be slow due to the relative sluggishness in China’s construction industry, the expansion of which will be hampered by a glut of new residential properties. The global scaffolding market is expected to grow at a faster pace than world GDP over the forecast period due to an increase in the global construction industry as Asian economies continue to industrialize and urbanize. After a long time of stagnation, construction in North America is on the rise. This has been most noticeable in the residential sector, where household deleveraging, tight labor markets, and stagnant hourly wages have stifled demand for new home construction. The construction industry in North America is expected to expand gradually, which will have an impact on the growth of the scaffolding market. Because of the continuous economic development and urbanization in these areas, the scaffolding markets in Latin America, the Middle East, and Africa show great potential for future growth.
Request for Customization@ https://www.marketresearchfuture.com/ask_for_customize/4900
Notable players operating in the scaffolding market are Wilhelm Layher Holding GmbH & Co. KG, MJ-Gerüst GmbH, Safway Group Holding LLC, PERI GmbH, Altrad Group, ADTO Industrial Group Co., Ltd., ULMA Construction, Waco Kwikform Limited, Stepup Scaffold, LLC, Changli XMWY Formwork Scaffolding Co., Ltd. Beijing Kangde, Cangzhou Weisitai Scaffolding Co.Ltd., Tianjin Wellmade Scaffold Co. Ltd., Youying Group Rapid Scaffolding Engineering Co. Ltd, Instant Upright, Tianjin Gowe Industrial Co. Ltd., Rizhao Fenghua Scaffolding Co. Ltd., Entrepose Echafaudages Itsen Construction Equipment (Guangzhou) Co. Ltd., and KHK Scaffolding & Formwork LLC.
Browse Related Reports:
Global Recycled Construction Aggregates Market Research Report: Information by Product Type (Crushed Stone, Sand & Gravel, Cement Concrete and Asphalt Pavement Debris), End-Use [Residential, Commercial, Infrastructure, and others (Industrial and Monumental)] and Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America) – Forecast till 2027
Global Metal cladding Market Information: by Type (Aluminum Cladding, Galvanized Steel, Cladding, Zinc Cladding, Copper Cladding, Titanium Cladding, Brass Cladding, and Bronze Cladding), Application (Residential, Commercial and Industrial) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America) – Forecast till 2027
Global Green Concrete Market Research Report: by End-Use (Residential, Commercial, Industrial and Infrastructure) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America) – Forecast till 2027
Global Plywood Market Research Report: Information By Grade (MR Grade, BWR Grade, Fire Resistant Grade, BWP Grade and Structural Grade), Wood Type (Softwood and Hardwood), Application (Furniture, Flooring & Construction, Automotive Interior, Packaging, Marine and Others) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America) – Forecast till 2027
Global Laminated Veneer Lumber Market Research Report: Information By Product (Cross-Banded Laminated Veneer Lumber and Laminated Strand Lumber (LSL)), Application (Concrete Formwork, House Beams, Purlins, Truss Chords, Scaffold Boards and Others), End-Use (Residential, Commercial and Industrial) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America) – Forecast till 2027
Global Aluminum Doors and Windows Market Research Report: Information By Product (Exterior Door, Patio Door, Sliding Window, Bi-Fold Window and Other), Application (Residential and Commercial) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America) – Forecast till 2027
Global Medium Density Fiberboard (MDF) Market Research Report: By Product (Standard MDF, Moisture Resistant MDF and Fire Resistant MDF), By Application (Cabinet, Flooring, Furniture, Molding, Door and Millwork, Packaging System and Others), By End-user (Residential, Commercial and Institutional) and Region (North America, Europe, Asia-Pacific and Rest of the World) – Forecast till 2027
Global Composite Insulated Panels Market Research Report: Information by Product [Expanded Polystyrene (EPS) Panel, Rigid Polyurethane (PUR) and Rigid Polyisocyanurate (PIR) Panel, Glass Wool Panel and Others], Application (Building Wall, Building Roof and Cold Storage) and Region (North America, Europe, Asia-Pacific and Rest of the World) – Forecast till 2027
Global Exterior Insulation And Finish System Market Research Report: by Type (Polymer-Based and Polymer Modified), Insulation Material (EPS (Expanded polystyrene), MW (Mineral Wood) and others), Component (Adessives, Insulation Board, Base Coat, Reinforcement, and Finish Coat) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America) – Forecast till 2027
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.