The global scaffolding market is projected to flourish till 2023 due to the boom in the realty sector and need for scaffolding for construction, maintenance, and repair of buildings. Investments in the construction sector is expected to be the primary driver of the market.

Pune, India, July 22, 2019 (GLOBE NEWSWIRE) -- The global scaffolding market report by Market Research Future (MRFR) highlights the latest trends and opportunities. Scaffoldings serve as a skeleton for all construction projects providing access to all floors without any hindrance. They are a common sight for reaching inaccessible heights and plays a central role in navigating around buildings.

Market Prospects

The global scaffolding market size is expected to expand at 5.14% CAGR from 2017 to 2023 (forecast period) due to scaffolds being erected for assembling basic components of buildings. The rise in foreign direct investments (FDI) in Asia Pacific and increasing government policies such as the Real Estate (Regulation and Development) Act are factors predicted to accelerate market demand in the coming years.

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High-rise buildings which require scaffoldings are ensured to induce market demand. On the other hand, maintenance of buildings which include painting, repairs, cleaning, and electric installations can bode well for the market. Safety programs introduced in universities which require adherence to scaffolding guidelines set by federal agencies can bode well for the market and ensure the safety of staff on campuses.

Volatile raw material prices, sudden changes in policies, and sluggish economic growth can impede market growth.

Competitive Landscape

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

Innovation within the market is expected to differentiate products among competitors and ensure a fair market.

Segmentation

The global Scaffolding Market is segmented by type, material, and application.

By component, it is segmented into rolling scaffolding, suspended scaffolding, and supported scaffolding. The supported scaffolding segment held close to 69% share of the market among components in 2016 with the value exceeding USD 9,700 million. It can grow at a remarkable pace due to benefits of convenience, safety, cost-effectiveness, and efficiency.

By material, it is segmented into steel, wood, aluminum, and others. Steel accounted for 46.28% share in 2016 with a value above USD 6500 million. This can be attributed to the recyclable nature of steel. In addition, safety lines and decking accompanying these types of scaffolds coupled with provision for insulation to prevent harm from electric shocks can spur segment growth. Aluminum scaffoldings can maintain a significant market share due to being lighter than steel and being handled easily by the workforce.

By application, it is segmented into construction industry, temporary stage, electrical maintenance, and others. The construction industry application is projected to exhibit the strongest CAGR during the forecast period owing to the extensive usage of scaffolds for building the basic structure of high-rises and other facilities.

Regional Analysis

Geographically, the global scaffolding market is segmented into Asia Pacific (APAC), Europe, North America, and Rest-of-the-World (RoW).

The APAC region held more than 45% share in 2016 due to economies of China, India, and Japan triggering a huge market demand for scaffoldings. Government aids and subsidies which can attract investors in the region for infrastructural projects are expected to drive the regional market. Rise in modular housing projects, inadequate housing for citizens, and the explosive population growth are other factors bound to be lucrative for the global tower crane market in the region till 2023.

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The North America region is ripe for growth due to the modest boom in the construction sector. Renovation projects and investments to enhance the current infrastructure in cities are factors driving the scaffolding market.

Lastly, Latin America and MEA within RoW can exhibit steady growth rates and possess latent potential which can be inviting for the scaffolding market to invest.

Industry News

Layher Holding GmbH & Co has released the Allround Scaffold named after the company which can be the best option in modular scaffolding. Fast assembly of components and an extended range of accompanying accessories which can provide structural support to buildings is likely to lead to high sales.

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