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The rising development of the construction industry has galvanized the growth of several markets including that of the scaffolding market. Market reports connected with the construction industry have been offered by Market Research Future which makes reports on other industry verticals that aims to analyze the current market scenarios better. The market is anticipated to develop at a 5.14% CAGR in the forecast period.Scaffolds are instrumental to the construction industry, and as a result, they have a relatively stable demand. The increasing level of FDI investments is motivating the development of the scaffolding industry. The rising global population has initiated the development of many construction projects, which is, in turn, powering the development of the scaffolding market.
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Segmental Analysis
The segmentation of the scaffolding market is carried out on the basis of application, type, material, and region. Based on type, the market is segmented into supported scaffolding, suspended scaffolding and rolling scaffolding. On the basis of material, the market is segmented into aluminum, steel, wood, among others. Based on application, the market is segmented into electrical maintenance, construction industry, temporary stage, and others. On the basis of region, the scaffolding market is segmented into Asia Pacific, North America, Europe and the rest of the world.
Detailed Regional Analysis
The regional analysis of the scaffolding market covers regions such as Europe, Asia Pacific, North America, and Rest of the World. The Asia Pacific region led the global market with a share of more than 45% in 2016. The Asia Pacific region is projected to continue to be responsible for the major portion of the scaffolding industry globally, because it consists of big markets in India, China, and Japan. Though, the growth pace is expected to be low, due to the relative slowness in China’s construction industry, the growth of which will be weakened by the excess of new residential properties that are being developed. The global scaffolding market is anticipated to develop at a quicker pace than world GDP in the forecast period due to the evolution in the construction industry globally, as Asian economies increase their industrialization and urbanization. In the North American region, the construction has been observing growth after a continued period of stagnation. This has been the most distinct in the residential sector, where slack labor markets, household deleveraging, and flat hourly wages have reduced the demand for new home construction. The North American region is anticipated to observe steady growth in the construction industry, which in turn will reduce the development of the scaffolding market. The scaffolding markets in the Latin American and Middle East & African region is showing increased potential for growth, owing to the constant economic development with urbanization in these regions.
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Competitive Analysis
Improved accessibility to diverse resources and capabilities is expected to impel the growth of the market in the coming forecast period. The use of successful strategy execution techniques is estimated to have a positive effect on the future growth of the market. The employment of product differentiation has led to a favorable product differentiation scenario that is complementing the market’s growth. The participants in the market are trying to establish several USPs that will enable them to capture a more substantial share of the market. Additionally, the vertical additions and product tactics of the market is increasing the potential for the market players. The analysis of the market observes that the market is poised for an accelerated growth rate in the forthcoming years.
The chief competitors functioning in the scaffolding market are Safway Group Holding LLC, PERI GmbH, Altrad Group, Waco Kwikform Limited, ULMA Construction, Youying Group Rapid Scaffolding Engineering Co. Ltd, MJ-Gerüst GmbH, Entrepose Echafaudages Itsen Construction Equipment (Guangzhou) Co. Ltd, Tianjin Wellmade Scaffold Co. Ltd., Wilhelm Layher Holding GmbH & Co. KG, Stepup Scaffold, LLC, Changli XMWY Formwork Scaffolding Co., Ltd. Beijing Kangde, ADTO Industrial Group Co., Ltd., Cangzhou Weisitai Scaffolding Co.Ltd., Instant Upright, Tianjin Gowe Industrial Co. Ltd.,., Rizhao Fenghua Scaffolding Co. Ltd. and KHK Scaffolding & Formwork LLC.
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