Scaffolding Market to Hit USD 84.34 Billion by 2028, at a CAGR of 6.20% from 2022-2028 Thanks to Increasing Activities in the Construction Industry Globally
SkyQuest's latest research on the scaffolding market projects the potential for future growth and offers statistics and authentic information on the market's size, structure, and anticipated expansion. The research aims to give decision-makers up-to-date market knowledge and support wise investment choices. In addition, the research identifies and examines the key drivers, obstacles, and opportunities in the global market. The regional analysis section of the report enables participants to concentrate on high-growth regions and countries that can aid in boosting their market share.
Westford, USA, Feb. 01, 2023 (GLOBE NEWSWIRE) -- Asia Pacific dominates the scaffolding market owing to increasing residential and commercial construction projects, which in turn is boosting demand for scaffolding products. The use of scaffolding materials is also anticipated to increase with the increase in spending on commercial and residential construction projects. In addition, government programs to uphold product standards also contribute to the expansion of the global market. Moreover, the increasing presence of global players and rising investments in the R&D initiative to further complement the market progress.
According to SkyQuest, the global construction industry has witnessed an 11.3% surge in 2022 compared to construction projects in 2020. Such rising growth in the construction industry will eventually bring positive prospects for the scaffolding market.
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*Browse in-depth TOC on the "Scaffolding Market" *
· Pages - 247
· Tables - 90
· Figures - 66
Scaffolding is a structure built as a temporary home or shelter for workers and crew members. In addition, it can serve as a temporary warehouse for storing equipment, raw materials, and tools. It is inexpensive, safe, and simple to install. Both residential and non-residential industries can make use of it. Installation of staging systems, support structures, portable stages, seating, grid systems, and barriers typically involves using scaffoldings.
*Prominent Players in Scaffolding Market*
· Atlantic Pacific Equipment (AT-PAC), LLC
· ULMA C Y E. S Coop
· PERI GmbH
· ALTRAD
· Apollo Scaffold Services
· ADTO INDUSTRIAL GROUP CO.
· ADTO Group
· Condor S.p.A
· Changli XMWY Formwork Scaffolding Co Ltd.
· MJ-Gerust GmbH
· Brand Safway
· WACO
· Comipont S.p.A.
· KHK Scaffolding & Formwork LLC.
· Wilhelm Layher GmbH & Co KG
*Aluminum Scaffolding Segment to Capture Dominant Share in the Scaffolding Market *
The aluminum scaffolding segment is anticipated to grow at 16.4 CAGR from 2022 to 2028. Aluminum is utilized extensively as scaffolding that is physically lifted and built since it is lighter than steel. Additionally, aluminum scaffolding can be built faster than steel scaffolding, reducing labor expenses. Bamboo and wooden poles are frequently used in developing countries with expensive labor. The bamboo scaffolding is frequently utilized and esteemed for its durability, adaptability, and environmental friendliness.
The Asia Pacific region is predicted to take a leadership position in the scaffolding market due to its rapid urbanization and expanding industry. Both new construction projects and improvements to residential infrastructure are supporting the demand for scaffolding. Increasing FDI in building and favorable government policies about worker safety are likely to drive market growth. In addition, constructing new residential properties in developing economies such as India and China fosters global market expansion.
*Supported Scaffolding Segment to Drive Higher Traction owing to Its Affordability and Easy to Install Facility *
The supported scaffolding segment held a 37% revenue share in 2022 and is estimated to account for significant growth during the forecast period. It has benefits, including simple installation, safety, and affordability, which raise demand for it. Most of the time, this kind of scaffolding is employed for building purposes. Additionally, moving scaffolding is frequently chosen for short-term operations that span numerous places over a greater distance. In addition, it finds application in the mechanical and electrical sectors.
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North America is expected to dominate the scaffold technology market because of the region's robust infrastructure, ongoing research, and the presence of major market players. Additionally, the area draws both large investments and disposable money. Increased government and local businesses support to subsidize the market expansion with ongoing R&D efforts that advance the field. As a result, the market expansion is anticipated to match the rate of public-private partnerships (PPP) construction of infrastructure.
The research report provides analytical and in-depth information about the major companies operating in the scaffolding market with their financials, supply chain trends, technical advancements, and key developments. In addition, the latest report covers key suggestions for players to consider while preparing their next action plan for driving business growth.
*Key Developments in Scaffolding Market*
· Chinook Scaffold Systems, LTD., headquartered in Nanaimo, British Columbia, Canada, has been acquired by American Industrial Partners ("AIP") and the Brock Group ("Brock"). With a workforce of 400 highly qualified professionals, Chinook is a market-leading supplier of scaffolding and insulation systems for oil and gas, smelters, mines, dams, pulp and paper, and other customers in Western Canada, including British Columbia, Alberta, and Saskatchewan.
· Premier, the construction site of Garth Brooks' new multilevel honky-tonk bar and entertainment facility, is where the sidewalk scaffolding company Urban Umbrella, based in New York City, recently introduced a new sidewalk scaffolding product. As a result, one of the busiest sidewalks in the country will have a safe, well-lit passageway for people to use, thanks to the Urban Umbrella product.
· AT-PAC, a company specializing in system scaffolding, has strengthened its relationship with Doka, a major formwork, solutions, and services provider, with its global headquarters in Amstetten, Austria. The controlling ownership establishes Doka as the go-to supplier for formwork and scaffolding for the world's construction industry and creates a new, global "industrial scaffolding" business sector.
· Direct Scaffolding Supply has been acquired by Dallas-based private investment company Highlander Partners, L.P. ("Highlander"). DSS is one of the reputable scaffolding suppliers in North America and the rest of the world. Associated DSS businesses, such as DirecTank Environmental Products, Beric Valves, and GSD Logistics, were also acquired before this acquisition.
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*Key Questions Answered in Scaffolding Market Report*
· What are the key growth factors and challenges in the global scaffolding market?
· What is the scope for new entrants to strengthen their foothold in the global market?
· Which regions are part of the extensive study covered in the research report?
· Who are the most promising players holding a leading position in the global market?
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