Global Formwork and Scaffolding Market to 2030: Rapid Urbanization and the Growing Construction Industry in Emerging Countries Drives Growth

DUBLIN, April 5, 2023 /PRNewswire/ -- The "Formwork and scaffolding Market By Type, By Material, By Application, By End-Use , and By Region Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.

The market size of global formwork and scaffolding was valued at USD 48.14 billion in 2021 and is projected to grow at a revenue CAGR of 6.7% during the forecast period.

The growth is attributed to the rapid expansion of the construction industry, increased government investments and infrastructure programs in emerging economies, and ongoing privatization initiatives.Scaffolding and formwork are crucial components of the construction sector. Formwork is utilized to support wet cement until it is strong enough to withstand its own weight, and can take the form of permanent or temporary moldings or casings. Scaffolding, on the other hand, is used for accessibility around a building. The market is witnessing new product launches and innovative systems that provide comprehensive and cost-effective solutions to construction management-related issues, creating further growth opportunities.Cement is a significant contributor to global emissions and the cement industry aims to achieve net-zero emissions by 2050 by developing low-carbon cement alternatives, using algae-grown gypsum and olivine. Researchers are also developing innovative construction techniques to reduce the embodied carbon footprint of buildings and minimize the amount of concrete used.

For instance, a thin-shell vaulted flooring system developed by researchers from universities of Cambridge, Bath, and Dundee in the ACORN project uses 75% less concrete to support the same load.However, the lack of qualified scaffolding service engineers who can assemble scaffolding platforms, base plates, tow security personnel, guard rails, anchorage points, and create simple entry and exit points, and lift concrete buckets and hoists according to customers' specifications is hindering market revenue growth.

Safety criteria for high-rise buildings are also being emphasized, particularly those in coastal areas, which are based on wind loads, earthquake resilience, rain and cyclone resistance, and soil-bearing capacity. The importance of design is also being highlighted in this regard.

Market Dynamics

Drivers

Rapid urbanization and the growing construction industry in emerging countries

Rising investments in technology development by various manufacturers

Rising industrialization across the globe

Rising demand for aluminum formwork

Restraints

Fluctuating price of raw materials

Lack of skilled labor

Companies Mentioned

Layher Scaffolding Systems Pvt. Ltd.

Brand Industrial Services Inc.

ULMA Group

Peri

MJ-GERUST

ALTRAD

KHK Scaffolding & Formwork LLC.

ADTOMall Inc.

Waco Kwikform

Sunshine Enterprise

Rizhao Fenghua Scaffoldings Co. Ltd.

GOWE Group

XMWY Group.

Key Takeaways

Type OutlookThe global formwork and scaffolding market has been categorized based on type, material, and end-use. Under the type category, the market has been divided into formwork and scaffolding. The formwork segment is further divided into sub-segments such as wall and column, slab, tunnel, props & shoring, bridge, timber beams and plywood, and others. The tunnel segment accounted for a significant share of revenue in 2021.

This is attributed to tunnel formwork technology that enables the casting of slabs and walls with flexibility, affordability, speed, quality, and precision, resulting in shorter building times and cost savings compared to traditional methods. Additionally, this technology produces strong and long-lasting load-bearing structures that are earthquake-resistant.Material OutlookUnder the material category, the market has been segmented into wood, steel, aluminum, and others. The aluminum segment is expected to grow at a significant revenue CAGR during the forecast period due to its lightweight properties and cost-effectiveness.

Aluminum and plastic have replaced plywood formwork in structural buildings due to their ease of use and separability from concrete, while scaffoldings need manual lifting and placement.End-Use OutlookBased on end-use, the market is segmented into building & construction, industrial construction, shipbuilding, and others. The building & construction segment accounted for the largest share of revenue in 2021. Formwork manufacturers are under pressure to provide innovative solutions for complex geometries and taller structures in modern building systems, where sustainability depends on construction efficiency.

The emergence of revolutionary designs and real-time surveillance has improved management performance. A concrete curing management system has been developed using a ubiquitous computing environment, enabling efficient quality control and driving revenue growth of this segment.

Modular formwork systems help contractors save costs by avoiding the need to recoup purchasing costs and recycling or selling materials after operation.Regional OutlookThe North America market had the largest revenue share in 2021, mainly due to the increasing advancements and innovations in concrete and formwork technologies. Companies are focusing on enhancing innovation and efficiency while creating new value opportunities for their existing and potential clients, which is driving the market's revenue growth in this region.

For example, CEMEX is actively promoting innovation in the construction sector through its Digital Innovations in Motion program, which includes attempts to innovate in its business offering, back-office operations, and smart manufacturing.

Additionally, the Europe market had the second-largest revenue share in 2021, with rising research activities for the development of innovative formwork components.

For instance, researchers at ETH Zurich have developed a system of 3D-printed formwork components to create a pattern of empty cells across the slab. In comparison, the Asia Pacific market is expected to register the fastest revenue CAGR due to rapid urbanization and increasing government investments in infrastructural projects.

For more information about this report visit https://www.researchandmarkets.com/r/lzti26

About ResearchAndMarkets.comResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and MarketsLaura Wood, Senior [email protected] For E.S.T Office Hours Call +1-917-300-0470For U.S./CAN Toll Free Call +1-800-526-8630For GMT Office Hours Call +353-1-416-8900 U.S. Fax: 646-607-1907Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

View original content:https://www.prnewswire.com/news-releases/global-formwork-and-scaffolding-market-to-2030-rapid-urbanization-and-the-growing-construction-industry-in-emerging-countries-drives-growth-301790645.html

SOURCE Research and Markets