Scaffolding Market Size Projected to Surge $90.48 Billion Growth by 2033, Exhibit a CAGR of 5.36%
The Brainy Insights
6 min read
The Brainy Insights
Scaffolding market size is anticipated to grow from USD 53.68 Billion to USD 90.48 Billion in 10 years: In developing countries like China, India, and Brazil, the need for safe, high-quality scaffolding systems will increase due to their continued fast urbanisation and infrastructural development.
Newark, April 16, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 53.68 Billion in 2023 scaffolding market will reach USD 90.48 Billion by 2033. The market is growing because there is a growing demand for 3D cellular models for translational research and biological investigations. Because a swift modification to the cell culture framework was required to address the challenges in the drug development process, the market for scaffold technology would be expected to grow quickly. Furthermore, scaffold technology received a significant boost from the COVID-19 pandemic. Tissue engineering is a popular tool for investigating virology and epidemiology, developing in vitro model systems, and finding efficient ways to treat diseases.
Asia Pacific is anticipated to expand at the highest CAGR of 7.47% over the projection period.
Asia Pacific is expected to grow at the highest CAGR of 7.47% over the forecast period. The need for top-notch scaffolding goods and services has surged in the Asia-Pacific area due to the growing emphasis on safety and the usage of cutting-edge scaffolding solutions. As a result, several regional and international scaffolding companies are growing their operations in the area to take advantage of the growing market potential. The scaffolding market is expanding significantly in China and India, as well as in Japan, South Korea, and Southeast Asian countries, including Vietnam, Indonesia, and Thailand. These countries' growing urbanisation and infrastructural development drive the demand for scaffolding goods and services.
The supported scaffolding segment is expected to register the highest CAGR of 8.37% in the scaffolding market over the projected period.
The supported scaffolding segment is anticipated to grow at the highest CAGR of 8.37% in the scaffolding market. In every sector, worker safety has always been a top priority. Customers need scaffolding choices that are of the highest calibre and offer a safe working environment. Systems of supported scaffolding are affordable and give workers a secure work area. It has consequently turned into the favoured choice for customers. The growth of the transportation sector, the rise in urban population, and the rise in government spending on infrastructure projects are some of the factors driving the expansion of the construction business.
Over the projected period, the aluminum segment is expected to register the highest CAGR of 7.28% in the scaffolding market.
Over the forecasted period, the aluminum segment is anticipated to grow at the highest CAGR of 7.28% in the scaffolding market. Aluminium scaffolding systems are becoming more and more common on the market. The benefits of aluminium are its low weight, strength, and adaptability. The market for aluminium scaffolding has grown as a result of an increase in construction activity.
Report Scope and Segmentation -
Report Coverage
Details
Forecast Period
2024-2033
Forecast CAGR
5.36%
2033 Value Projection
USD 90.48 Billion
Market Size in 2023
USD 53.68 Billion
Historical Data
2020-2022
No. of Pages
238
Report Coverage
Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends
Segments Covered
by Type, Material, Regions
Regions Covered
The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
The construction sector's exponential growth across the globe has led to a significant increase in the need for scaffolding. The development of the building sector has been one of the primary drivers of the market and a major contributor to its rise. The scaffolding market may grow due to the growing number of urban development projects that need scaffolding. The building work involved in these projects requires scaffolding. Stricter safety regulations and standards being implemented at construction sites across the globe have led to a surge in demand for safe and high-quality scaffolding materials. Strict safety restrictions are being enforced by governments around construction sites. Scaffolding must be used if regular maintenance and repair work is required. This is done to guarantee both safety and user-friendliness. This work might immediately impact the growth of the scaffolding sector. The need for residential construction activities is rising along with the population.
Restraint: Absence of skilled labour
A primary barrier to the scaffolding market is the scarcity of skilled workers. For scaffolding to be functional, a skilled workforce can install, operate, and disassemble the scaffolding. The market's ability to expand has been adversely affected by price hikes and productivity drops caused by a lack of skilled workers. Even if the scaffolding market has grown significantly due to safety requirements and regulations, there is always potential for improvement. Governments are imposing strict safety requirements on building sites worldwide, and adhering to these regulations requires using the highest quality scaffolding and safety standards. The laws can potentially increase scaffolding costs, decreasing customer demand and hampering market expansion.
Some of the major players operating in the scaffolding market are:
• Safway Group Holding LLC • Altrad Group • MJ-Gerüst GmbH • Stepup Scaffold, LLC • KHK Scaffolding & Formwork LLC • Wilhelm Layher Holding GmbH & Co. KG • ULMA Construction • ADTO Industrial Group Co., Ltd. • PERI GmbH • Waco Kwikform Limited
• Suspended Scaffolding • Supported Scaffolding • Rolling Scaffolding
By Material:
• Aluminum • Steel • Wood
By Region
• North America (U.S., Canada, Mexico) • Europe (Germany, France, U.K., Italy, Spain, Rest of Europe) • Asia-Pacific (China, Japan, India, Rest of APAC) • South America (Brazil and the Rest of South America) • The Middle East and Africa (UAE, South Africa, Rest of MEA)
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirements whether they are looking to expand or planning to launch a new product in the global market.
