News

Aug 05, 2023

Scaffolding Equipment Market is Set to Grow by 1.6% to US$ 25 billion

NEW YORK, Feb. 27, 2023 (GLOBE NEWSWIRE) -- Here are some interesting points

NEW YORK, Feb. 27, 2023 (GLOBE NEWSWIRE) -- Here are some interesting points from a new IndexBox's report on the global scaffolding equipment market.

Market Outlook

The global scaffolding equipment market is expected to grow at a CAGR of 1.6% from 2022 to 2030, increasing from $22B to $25B. This expansion will be driven by several factors, including the increasing construction activity around the world, the need for safe and efficient construction methods, and the growing popularity of prefabricated buildings. However, the high cost of scaffolding equipment and stringent regulations related to its usage are some of the key challenges faced by manufacturers in the market.

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The scaffolding equipment market is segmented by type into system, frame, tube/clamp, and suspended scaffolds. Frame ones are expected to grow at the highest CAGR during the forecast period due to their light weight and portability. The system scaffold segment is forecast to dominate the market due to its easy installation and dismantling of such equipment.

The market is segmented by material into aluminum, steel, wooden, fiberglass and others. Steel scaffolding equipment dominates the market due to its high strength and durability. Aluminum is expected to grow at the highest CAGR during the forecast period due to its light weight, which makes it easy to transport and install. Nonetheless, steel is anticipated to remain the most widely used material for manufacturing scaffolding equipment over the next few years. The end-uses of scaffolding equipment include construction, shipbuilding, repairing, tunneling, mining, oil and gas refining/storage/transportation, power generation/transmission/distribution, and event management. Among these applications, construction is estimated to be the largest and the fastest-growing application segment owing to increasing construction activities worldwide. The main end-users of scaffolding equipment are general contractors, specialty contractors, and do-it-yourselfers (DIY).

The global scaffolding equipment market is segmented into North America, Europe, Asia Pacific, and the rest of the world. Asia Pacific is estimated to be the largest as well as the fastest-growing segment in terms of both value and volume due to the increasing number of infrastructure projects in China, India, Japan, and South Korea. North America and Europe are set to follow Asia Pacific.

Asia-Pacific Market Forecast

The Asia-Pacific (APAC) region is expected to be the major revenue contributor to the market throughout the forecast period. The increasing construction activities in this region, especially in China, are driving the demand for scaffolding equipment.

In 2030, China is expected to be the world's largest construction market, with projects worth an estimated US$2.3T. This is a significant increase from US$1.6T in 2020. The government's "Made in China 2025" initiative is likely to provide a boost to the sector, as it focuses on developing infrastructure and manufacturing capabilities. In addition, continued urbanization and the rise of the middle class are expected to drive demand for new residential and commercial buildings. One of the most notable construction projects underway in China is the Beijing Daxing International Airport, which is scheduled for completion in 2023.

Value Chain Analysis

An initial evaluation of the raw materials used in the making of scaffolds marks the commencement of a value chain analysis. The next step involves examining different parts and components utilized in constructing scaffolding equipment, following which, an assessment of the manufacturing process, namely production and assembly, is conducted. Subsequently, to get an understanding of potential growth prospects for this segment, an examination of end-use applications for scaffolds is undertaken.

About IndexBox

IndexBox is a market research firm developing an AI-driven market intelligence platform that helps business analysts find actionable insights and make data-driven decisions. The platform provides data on consumption, production, trade, and prices for more than 10K+ different products across 200 countries.

Companies Mentioned in the Report

Waco International Ltd., Safway Group LLC, Harsco Corporation, Altrad Group SA, United Rentals Inc., RMD Kwikform Ltd., Ulma Group, Quanta Services Inc., ThyssenKrupp AG, HAKI, Hünnebeck GmbH, Alufase, Acrow Corporation of America, System Scaffold Services Inc., Layher Allround System

Sources

World – Equipment for Scaffolding, Shuttering, Propping or Pit Propping - Market Analysis, Forecast, Size, Trends and Insights

EU - Equipment for Scaffolding, Shuttering, Propping or Pit Propping - Market Analysis, Forecast, Size, Trends and Insights

Asia - Equipment for Scaffolding, Shuttering, Propping or Pit Propping - Market Analysis, Forecast, Size, Trends and Insights

U.S. - Equipment for Scaffolding, Shuttering, Propping or Pit Propping - Market Analysis, Forecast, Size, Trends and Insights