Suspended Scaffolding Market
Suspended Scaffolding Market Analysis Report By Product Type (Single, Two, Multi Point, Multi-Level, Float Type, Catenary), By Material (Steel, Aluminum, Wood), By End Use, By Region - Global Market Insights 2019-2029
Analysis of Suspended Scaffolding market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Asia Pacific Shows a Positive Growth Outlook amid a Fragmented Market
The latest study by Fact.MR foretells the global suspended scaffolding market to record an expansion rate of around 5.3% and a valuation of over US$ 16 Bn by the end of forecast period.
The increasing demand for suspended scaffolding in construction and shipbuilding are key factors expected to boost the development of the global market for suspended scaffolding.
In addition, the use of suspended scaffolding in maintenance, construction, painting, and repair of bridges will also bolster the growth of the market over the forecast period.
For instance, suspended scaffolding is used extensively for cleaning and replacement of glass panels in skyscrapers. Asia Pacific and North America will maintain their hegemony in the suspended scaffolding market during the forecast period. Together they will witness a combined incremental opportunity of more than US$ 4 Bn from 2019 to 2029.
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Lightweight Materials Account for More Than 1/3rd Share in the Global Suspended Scaffolding Market
End users are willing to pay more for scaffold products that possess exceptional performance. Lightweight suspended scaffoldings will gain significant traction over the forecast period.
These scaffoldings will receive an uptick on their ability to dramatically increase the productivity of suspended scaffolding, enhance their transportation efficiency and reduce installation time.
Two point suspended scaffoldings will see a steady growth trajectory and will continue to be the most preferred by end users owing to benefits such as cost efficiency and easy installation.
Moreover, less stringent regulations, ease of availability of cost-effective labor and presence of numerous unorganized industry participants is another factor driving the suspended scaffolding market in this region.
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Safety and Compatibility takes Centre Stage as Regulations Step Up
Demand for products with safety and compatibility features is the core essence of the suspended scaffolding market. To prevent the increasing number of workstation accidents, the OSHA (Occupational Safety and Health Administration) has laid down various regulations to deploy safety equipment workstations.
Owing to strict government regulations, manufacturers are concentrating on suspended scaffolding with power-operated hoists vis-a-vis manually operated scaffoldings. This will be a key factor fueling the growth of the global suspended scaffoldings market
Low Cost Variants Causing Profit Margin Pressures
The global suspended scaffolding market is highly fragmented, with a large number of scaffolding manufacturers, contractors, and sub-contractors competing with one another. In emerging markets, the suspended scaffolding market is majorly controlled by unorganized players.
For instance, in India, about 95.0% of the suspended scaffolding market uses conventional suspended scaffolding. The construction business in emerging economies is capital intensive; hence, customers prefer traditional scaffolding to reduce cost.
This is a significant bottleneck in the expansion plans of global suspended scaffolding manufacturers in emerging economies.
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Amplifying Rental Services and Acquisitions Attract Market Players
Prominent Players are currently holding a market share of 6% to 8% characterized by a diverse product portfolio for multiple applications.
Continuous innovations related to safety of workers and products with enhanced shelf life, are creating lucrative opportunities for manufacturers.
Companies are striving for sustainability within the suspended scaffolding market. In addition, new industry players are concentrating specifically on the incorporation of more sophisticated processing techniques that are not only economical but also ensure maximum safety.
Renting flexibility is paving the way for new players to focus on providing suspended scaffolding on rent. Listed below are some of the key developments in the suspended scaffolding market.
- In January 2018, BrandSafway acquired Venko Group BV based in Netherlands. Venko is a coating service provider for offshore scaffolding structures in oil & gas, construction and other industries.
- In January 2018, PERI Group announced plans to expand its manufacturing plant in Gunzburg, Germany. The company has invested approximately three-digit million Euros and expects to complete the capacity expansion by 2019 end.
Global Suspended scaffolding Market: In-Depth Assessment on Key Segments
The global suspended scaffolding market is segmented on the basis of product, material, end-use and region.
Country-specific assessment on demand for suspended scaffolding has been provided for each regional market, along with the market size valuation and forecast price point assessment, price index and impact analysis of key regional and country-wise dynamics, which were obtained through quotes from numerous suspended scaffolding manufacturers, experts, and suppliers. Y-o-Y growth projections have also been offered on all regional markets incorporated in the report. Moreover, future trends, growth prospects, and other possibilities related to the market have been answered in the report.
- FAQs -
Global suspended scaffolding market to record an expansion rate of around 5.3% Over The Forecast Period
Demand for products with safety and compatibility features is the core essence of the suspended scaffolding market.