Global Scaffolding Market Report to 2031: Rise in the Requirement of Residential and Commercial Buildings Drives Growth
Dublin, May 02, 2023 (GLOBE NEWSWIRE) -- The "Scaffolding Market by Type, Material, End-user: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
The global scaffolding market was valued at $52.2 billion in 2021, and is projected to reach $81 billion by 2031, growing at a CAGR of 4.6% from 2022 to 2031.
Key Market Players
MJ Gerust GmbH
Wilhelm Layber GmbH & Co KG
Atlantic Pacific Equipment LLC
ULMA C Y E, S. COOP.
ADTO Group Xiang
Changli Xingminweiye Architecture Equipment Limited Corporation
Altrad Investment Authority
Scaffolding is a shelter or temporary residence, which is constructed to support laborers and crew members. It can be used as temporary warehouse to store tools, raw materials, and machineries. It is easy to install, safe, and cost effective. It can be used in both residential and non-residential sectors.
A rise in the requirement of residential and commercial buildings, which in turn, increases the demand for scaffolding drives the growth of the scaffolding market. For instance, the construction market in India has grown at a rate of about 6% from 2020 to 2021. In addition, according to the United Nation Projections, world population is estimated to reach over 10 billion by 2050. The demand for residential buildings has increased with the surge in population.
Moreover, growth of construction industry globally and remodeling of along with surge in urbanization and rise in awareness on building safety are some of the factors, which fuel the growth of the global scaffolding market.
Rise in urbanization drives the demand for new construction buildings and residential & commercial construction activities, which in turn, increases the demand for scaffolding products that fuels the growth of the global scaffolding market. For instance, according to German Construction Federation, the construction sector in Germany is expected to grow by 4% from 2020 to 2022.
Furthermore, there is a rise in disposable income of population in various countries such as China, Brazil, and Africa. For instance, the disposable income of Spain registered a growth of 7.3% from 2020 to 2021. Furthermore, rise in spending on commercial and residential construction activities along with government initiatives to maintain standards of products boost the growth of the global scaffolding market.
However, fluctuation in raw material prices and unreliability on harsh weather conditions are anticipated to hamper the growth of the global scaffolding market.
In addition, construction, manufacturing, hotel, and tourism industries were majorly affected, during the outbreak of the COVID-19 pandemic. Manufacturing activities were halted or restricted. This led to decline in construction activities, thereby restraining the growth of the market. Conversely, industries are gradually resuming their regular construction and manufacturing services. This is expected to lead to re-initiation of companies at their full-scale capacities, that helped the market to recover by end of 2021.
On the contrary, government investments in the building infrastructure sector are projected to provide lucrative opportunities for the growth of the global scaffolding market.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of thescaffolding market analysis from 2021 to 2031 to identify the prevailing scaffolding market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the scaffolding market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global scaffolding market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By End User
For more information about this report visit https://www.researchandmarkets.com/r/1g76jz
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