PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1127442
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1127442
The scaffolding Market size was valued at USD 45,907.9 Million in 2021, expanding at a CAGR of 6.1% from 2022 to 2028.
Any temporary elevated work platform (supported or suspended) and its supporting framework (including points of attachment) used to support personnel, materials, or both are referred to as scaffolds.
An increase in the demand for residential and commercial structures fuels the growth of the scaffolding industry by driving up the demand for scaffolding. For instance, from 2016 to 2020, the construction market in India expanded at a rate of 5.6%. By the year 2050, the population of the globe is anticipated to exceed 10 billion, according to United Nations Projections. Global population expansion has raised the demand for residential constructions, which has fueled the rise of the scaffolding industry. Additionally, the expansion of the global scaffolding market is aided by the expansion of the building sector globally and home renovations.
Urbanization is driving the need for new buildings and residential and commercial construction projects, which in turn is boosting demand for scaffolding products and boosting the worldwide scaffolding market's expansion. For instance, the German Construction Federation projects that the sector would expand by 4% between 2020 and 2022. Furthermore, the adoption of scaffolding items in residential and commercial activities is anticipated to increase as the population's disposable income rises in several nations, including China, Brazil, and Africa. This will fuel the expansion of the scaffolding market. For instance, Spain's disposable income increased by 7.3% between 2018 and 2019.
The worldwide scaffolding market is expected to develop, but fluctuations in raw material prices and unpredictability in adverse weather are expected to restrain it. Additionally, it is anticipated that government investments in the construction infrastructure sector will open up the attractive potential for the expansion of the global scaffolding industry.
Based on type, the global scaffolding industry is bifurcated into supported, suspended, and rolling scaffolding. The supported scaffolding segment is expected to dominate the market during the forecast period owing to its properties such as easy installation, safety, and cost-effectiveness. Moreover, its extensive use in construction industries drives segment growth. On the other hand, rolling scaffolding is favored commonly for projects which have a short-term duration that is essential to be carried out at many locations over a longer distance. It is mainly used in electrical and mechanical trades.
Based on the material, the market is categorized into aluminium, steel, and wood. Aluminium is growing at the highest CAGR during the forecast period. The growth in the segment is attributed to its lightweight as compared to the other materials. Aluminium is considered to be the ideal option over steel as the scaffolding can be built faster, in this manner reducing the labour cost.
In terms of geography, North America is expected to dominate the worldwide scaffolding market. The growing sales of construction equipment in the United States are one of the main causes. Additionally, in the United States, the percentage of rental construction equipment increased from 35% in 2007 to 55% in 2017. As a result, both the national construction sector and the regional expansion of this market will gain from this.
In November 2021, Alimak Group launched a new scaffolding product for the construction industry, making the scaffolding process as efficient and safe as possible. The new product is called Alimak STS 300 and has been designed in conjunction with PERI.
The scope of this report covers the market by its major segments, which include as follows: