Latest News- Formwork And Scaffolding Market: Scaffolding is expected to lead the Type segment during 2025-2029
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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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Type (Scaffolding, Formwork) Material (Steel, Wood, Aluminum, Others) Geography (APAC, North America, Europe, Middle East and Africa, South America).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Formwork And Scaffolding Market Research Report
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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.
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