Impact of Covid-19 Outbreak on Scaffolding Market

06/ago/2020 13:25:35 Automotive Market Research Reports Contatta l'autore

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As per the analysis by Market Research Future Reports (MRFR), the global scaffolding market is estimated to expand at a CAGR of 5.14% during the review period. The rise in renovation projects and better home infrastructures in developed countries seize huge opportunities for the expansion of the global scaffolding market 2020.

Scaffolding a kind of prefabricated construction that involves important structures or parts of construction built off-site, mostly at the factories to be constructed later on-site on a concrete foundation. The global scaffolding market is affected by various elements like increased FDI in construction in the Asia Pacific region, and favorable government rules and regulation. However, certain barriers obstruct the expansion such as fluctuation in raw material prices and slowing economic growth.

Steel stands the strongest, even while unforeseen situations like an earthquake. It can bear the weight and pressure. Steel scaffold can easily be dismantled or assembled, which improves the efficiency of work. Relatively, the wooden scaffolding is low-cost and they are a good choice for irregular foundation or space where the access devices are not possible to use.

Market Segmentation

The global scaffolding market can be segregated into materials, types, applications, and regions.

On the basis of material, the global scaffolding market can be segregated into aluminum, steel, wood, and others. Among all, the steel sector acquired the maximum market share of approximately 46.28% valuing about USD 6,500 million and is likely to expand at the fastest CAGR during the review period.

On the basis of type, the global scaffolding can be segregated into suspended scaffolding, supported scaffolding, and rolling scaffolding. Among all, the supported scaffolding acquires the maximum market share. It accounted for the largest market share of approximately 68.81% in 2016 with the market value or more than USD 9,700 million. It is estimated to expand at the highest CAGR during the review period.

On the basis of application, the global scaffolding market is classified into electrical maintenance, construction industry, temporary stage, and others. Among all, the construction industry leads the applications vertical. Among all, the construction industry acquired the maximum market share of almost 67.65% and valuing about USD 9,500 million in 2016. It is estimated to expand at the fastest pace during the review period.

On the basis of region, the global scaffolding market is classified into Europe, Asia-Pacific, North America, and the Rest of the World (RoW). Among all, the APAC region dominated the market by acquiring a market share of about 45% in 2016.

Regional Analysis

The regional analysis of Europe, North America, Asia Pacific and the Rest of the World has been done. As per the analysis, the Asia Pacific region is likely to dominate the market and is estimated to retain its position in the market. However, the expansion will be a little low due to China’s slowing down the construction sector. The worldwide scaffolding market is estimated to expand at a faster speed than the world’s GDP due to an increase in the global construction industry as the Asian finances continue to strengthen with industrialization and urbanization.

The North American market witnessed growth after a long term of stagnation. It is expected to see growth in the construction sector which will drive the expansion of the scaffolding market. The scaffolding market in the Middle East and Africa, Latin America has the potential to expand significantly in the forthcoming period owing to the perpetual financial growth due to urbanization.

Key Players

The most crucial contributors in the scaffolding market are Safway Group Holding LLC, Wilhelm Layher Holding GmbH & Co. KG, ULMA Construction, PERI GmbH, Altrad Group, MJ-Gerüst GmbH, Stepup Scaffold, LLC,  Waco Kwikform Limited, ADTO Industrial Group Co., Ltd., Beijing Kangde, Changli XMWY Formwork Scaffolding Co., Ltd., Cangzhou Weisitai Scaffolding Co.Ltd., Tianjin Wellmade Scaffold Co. Ltd., Instant Upright, Youying Group Rapid Scaffolding Engineering Co. Ltd, Entrepose Echafaudages Itsen Construction Equipment (Guangzhou) Co. Ltd., Tianjin Gowe Industrial Co. Ltd., KHK Scaffolding & Formwork LLC, and Rizhao Fenghua Scaffolding Co. Ltd.

 

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