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Jul 19, 2023

Scaffolding market to grow at a CAGR of 6.57% from 2022 to 2027

News provided by 24 Jul, 2023, 20:00 ET Share this article NEW YORK, July 24, 2023 /PRNewswire/ -- The scaffolding market is set to grow by USD 20.09 billion from 2022 to 2027, progressing at a CAGR

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24 Jul, 2023, 20:00 ET

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NEW YORK, July 24, 2023 /PRNewswire/ -- The scaffolding market is set to grow by USD 20.09 billion from 2022 to 2027, progressing at a CAGR of 6.57% during the forecast period. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The market is driven by the rising in construction activities in developing countries. Stringent safety regulations are driving the market growth. Safety equipment is necessary to prevent accidents at construction sites. Thus, governments of several nations have introduced strict safety regulations, increasing the use of scaffolding. Scaffolding should be designed by a qualified professional to ensure proper foundation and avoid electrical hazards. For instance, the Australian Government has adopted the Australian New Zealand Standard (AS/NZS 1576.1:2010) on scaffolding, specifying general requirements for scaffolding on construction sites. Therefore, the presence of stringent safety regulations will fuel the demand for construction scaffolding. This will boost the growth of the scaffolding market during the forecast period. -Here is an Exclusive report talking about Market scenarios with a historical period (2017-2021) and a forecast period (2023-2027). Download Sample Report in minutes!

The scaffolding market covers the following areas:

Scaffolding Market SizingScaffolding Market ForecastScaffolding Market Analysis

The report on the scaffolding market provides a holistic update, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis.

Scaffolding Market 2023-2027 - Market Dynamics

Significant Trend -

Improved productivity and safety is a significant trend in the market. Timely delivery of construction projects has a positive effect on the construction industry. Scaffolding is an important part of construction, maintenance, and repair activities. Reducing the time required to prepare scaffolding structures lowers the lead times and ensures construction projects are completed on time.

Many scaffolding vendors use techniques that improve productivity and safety, reduce assembly time and provide the required safety. For example, Layher offers universal scaffolding that is ideal for complex buildings and simple structures. The technology adheres to regulations related to scaffolding erections. Thus, the use of such products improves the productivity and safety of workers, which is expected to boost market growth during the forecast period.

Leading Challenge -

The high prices of raw materials are challenging market growth. The most important raw materials for scaffolding manufacturing include steel, aluminum, and wood. In recent years, the price of these raw materials has fluctuated, which increases production costs. As a result, the price of scaffolding has increased making it out of reach for many customers.

Steel is the commonly used raw material in the production of scaffolding. Besides, the price of aluminum has been growing. The rising demand for aluminum in the automotive and aerospace industries has led to a shortage of its supply. These factors will affect the growth of the scaffolding market during the forecast period.

Scaffolding Market 2023-2027: Market Segmentation

The scaffolding market analysis report extensively covers market segmentation by type (supported, suspended, and rolling), end-user (construction, shipbuilding, electrical maintenance, and residential), and geography (APAC, North America, Europe, Middle East and Africa, and South America).

This report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters- View Sample Report

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Scaffolding Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 6.57%

Market growth 2023-2027

USD 20.09 billion

Market structure

Fragmented

YoY growth 2022-2023(%)

5.7

Regional analysis

APAC, North America, Europe, Middle East and Africa, and South America

Performing market contribution

APAC at 53%

Key countries

US, China, India, UK, and Germany

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

ADTO Industrial Group Co. Ltd., Altrad Group, Anish Scaffolding India Pvt. Ltd., Brand Industrial Services Inc., BSL Scaffolding Ltd., Cangzhou Weisitai Scaffolding Co. Ltd., Changli XMWY Formwork Scaffolding Co. Ltd., KHK Scaffolding and Formwork LLC, MJ Gerust GmbH, PERI AG, Rizhao Fenghua Scaffoldings Co. Ltd., SB Scaffolding India Pvt Ltd., Stepup Scaffold LLC, Uni Span, Universal Building Supply Inc., Waco Kwikform Ltd., Wellmade Scaffold Co. Ltd., Wilhelm Layher Holding GmbH and Co. KG, Wuxi Rapid Scaffolding Engineering Co. Ltd., and GRUPO ULMA S. COOP

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Type

7 Market Segmentation by End-user

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

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