The Formwork And Scaffolding Market is being driven by Urbanization and infrastructure development
The Formwork And Scaffolding Market is expected to grow at a CAGR of 8.2% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 32.72 billion. The global formwork and scaffolding market is experiencing substantial growth, driven by the launch of innovative products from leading vendors. These new offerings, such as PERI's Alpha Column Formwork System, are designed to boost efficiency, safety, and adaptability in construction projects, catering to the industry's evolving requirements. On April 16, 2024, PERI introduced this groundbreaking column formwork solution, setting new industry standards. The Alpha System, which is gaining popularity in the expanding US construction sector, features integrated accessories that minimize on-site material usage and enhance safety during assembly. This system's user-friendly design and versatility make it an efficient and secure choice for construction professionals.
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The market is segmented based on segments_for_ai.nslist
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
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Report Coverage |
Details |
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Page number |
203 |
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Base year |
2024 |
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Historic period |
2019-2023 |
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Forecast period |
2025-2029 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 8.2% |
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Market growth 2025-2029 |
USD 32.72 billion |
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Market structure |
Fragmented |
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YoY growth 2024-2025(%) |
7.1 |
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Key countries |
US, China, Germany, UK, France, Spain, Japan, India, South Korea, and Brazil |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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The Formwork and Scaffolding market encompasses various aspects, including scaffolding risk assessments, steel and wood scaffolding, sustainability, safety regulations, home replacement projects, and legal compliance. Scaffolding certification, automation, innovation, and components are key areas for rental companies. Training courses, design software, and project management are essential for effective scaffolding use. Construction regulations, the future of construction, robotics, and automation drive cost optimization and permit acquisition. Prefabricated construction, workforce development, financing, green materials, technology advancements, smart cities, and insurance are additional market factors.
The global construction and engineering market encompasses businesses specializing in non-residential construction and engineering services, as well as Engineering, Procurement, and Construction (EPC) contractors. This sector does not include entities involved in residential construction. According to Technavio, market expansion is attributable to substantial investments in urban infrastructure development. With expanding urban populations and escalating demands for transportation, communications, and essential utilities such as water and electricity, infrastructure projects are experiencing significant growth. Key market trends include the adoption of rolling scaffolding for increased efficiency in concrete construction, the integration of innovation and modular designs using steel and wood, and the ongoing importance of scaffolding and formwork solutions for electrical maintenance during construction activities.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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