Scaffolding Market Expected to Reach USD 81 Billion, CAGR of 4.6% from 2022 to 2031.

Increased housing sector investment, higher construction spending in the U.S., Japan, india urbanization drive scaffolding market growth, demand for renovation.

WASHINGTON, DE, UNITED STATES, November 21, 2024 /EINPresswire.com/ -- The global scaffolding market has experienced significant growth, with a market size of $52.2 billion in 2021 and projections estimating it will reach $81 billion by 2031, growing at a compound annual growth rate (CAGR) of 4.6% from 2022 to 2031. The Asia-Pacific region led the market in 2021, accounting for approximately 50% of the 𝐠𝐥𝐨𝐛𝐚𝐥 𝐬𝐜𝐚𝐟𝐟𝐨𝐥𝐝𝐢𝐧𝐠 𝐦𝐚𝐫𝐤𝐞𝐭 share in terms of revenue.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐏𝐃𝐅 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲:

Scaffolding plays a vital role in the construction industry, providing temporary support structures for workers and materials during building projects. However, working with scaffolding poses risks, including accidents and falls, particularly as construction projects involve repetitive tasks requiring the transportation of materials using scaffolds. As such, ensuring scaffolding safety is crucial to minimizing hazards and protecting workers. Safety measures include using advanced materials like aluminum and steel for scaffolds, which enhances their strength and reliability. Additionally, scaffolding safety involves a range of practices, such as building, inspecting, and tagging scaffolds, as well as ensuring compliance with OSHA standards. These standards help mitigate risks like falls, electrocutions, and falling objects, which are common in the construction industry.

The scaffolding market is also impacted by safety statistics. In the United States, approximately 65% of the construction workforce uses scaffolds, and around 4,500 injuries and 60 fatalities occur annually due to scaffolding-related accidents. Ensuring scaffolding safety is essential for preventing these incidents and building a culture of safety. Key safety practices include regular inspections, proper training for workers, and oversight by competent personnel who are knowledgeable in safe scaffold practices. This focus on safety has helped build trust in scaffolding systems, contributing to market growth.

The global rise in construction activities, particularly in residential and commercial sectors, is another major driver of the scaffolding market. The surge in urbanization, particularly in developing countries such as India, Brazil, and nations in Africa, is fueling the demand for scaffolding. Urbanization in Africa, for example, is expected to grow at a rate of 5.5% from 2020 to 2025. This expansion in urban centers necessitates the construction of new buildings and infrastructure, further driving the demand for scaffolding systems.

Moreover, government investments in infrastructure projects, including renovation and home remodeling activities, have further boosted the scaffolding market. For example, the Canadian construction industry was valued at $424.8 billion in 2021, encompassing home improvement, renovations, and commercial building projects. Similarly, increased spending on construction and renovation in countries like Germany, the U.S., and Japan has spurred market growth. The U.S. government, for instance, increased its spending on infrastructure by approximately 10% between 2020 and 2022, which positively impacted the scaffolding market.

Despite these growth factors, challenges such as fluctuating raw material prices and unpredictable weather conditions are expected to hinder the market's expansion. Additionally, the COVID-19 pandemic had a significant impact on the construction and manufacturing sectors, causing halts in operations and a temporary decline in demand for scaffolding. However, as industries gradually resume regular operations, the scaffolding market is expected to recover, with full-scale construction activities resuming by the end of 2021.

Looking forward, government investments in building infrastructure are expected to offer lucrative opportunities for market expansion during the forecast period. The growing urban populations in countries like India and China are also driving demand for residential and commercial spaces, leading to higher demand for scaffolding. For instance, the residential construction industry in the UK grew by 2.9% from 2020 to 2021, while the U.S. construction industry is forecast to grow by 5%, reaching a value of $1,428.5 billion by 2024. The commercial construction sector, especially in developing economies such as Brazil and Eastern Europe, has also seen significant growth. Asia-Pacific, in particular, is expected to experience the highest growth due to increased investments in countries like India and China.

𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐄𝐧𝐪𝐮𝐢𝐫𝐲
https://www.alliedmarketresearch.com/purchase-enquiry/A11712

Key benefits for stakeholders in the scaffolding market include:

By Type: The supported scaffolding segment generated the highest revenue in 2021.
By Material: The steel segment generated the highest revenue in 2021.
By End-User: The residential segment generated the highest revenue in 2021.
By Region: Asia-Pacific accounted for the largest market share in 2021.
The scaffolding market is poised for significant growth driven by construction activities, urbanization, safety improvements, and government investments in infrastructure, presenting strong opportunities for stakeholders in the coming years.

David Correa
Allied Market Research
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