Scaffolding Market Expected to Reach $81 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Scaffolding Market," The Scaffolding Market size was $52.2 billion in 2021 and the market is estimated to reach $81 billion by 2031, growing at a CAGR of 4.6% from 2022 to 2031. 

In 2021, Asia-Pacific dominated the global scaffolding market, in terms of revenue, accounting for about 50% of the scaffolding industry share.

There are different accidents that could occur while construction of a building. As construction is a dynamic task, it includes lot of materials to be carried through the use of scaffolds repeatedly that arises the risk of accidents and falls during the process. Thus, with the use of various advanced materials such as aluminum and steel, the scaffolds are now gaining the strength and helps in providing efficient operation. Scaffolding safety is a combination of practices and safety procedures that enforces proper and safe use of scaffoldings. It involves a set of preemptive actions in building, inspecting, using, and tagging scaffolds. Compliance with OSHA’s standard rules and requirements for working on scaffoldings can minimize or remove workers’ exposure to hazards such as falls, electrocutions, and falling objects. 

Around 65% of the construction industry work on scaffolds and experience 4,500 injuries and 60 fatalities annually in the U.S. alone. Scaffolding safety is important because it can help prevent workplace incidents from recurring. With baseline scaffold requirements to keep workers safe such as better inspections, training, and controls, frontline teams can ensure scaffolding safety and be proactive about building a safety culture from the ground up. To ensure scaffolding safety, different scaffold manufacturers are launching scaffolding systems that could be built under the supervision of a competent person; someone who has been thoroughly trained on safe work practices when working on scaffoldings. And workers must be trained by a qualified person before they use the scaffold. The scaffold and its components should also be checked by a competent person and properly tagged before the start of the shift to ensure its integrity and safety. Thus, this is gaining the trust for installing scaffolds in different construction sites, which in turn helps in scaffolding market growth.

There is a rise in construction activities globally for residential and commercial buildings brought into conclusion during scaffolding market analysis. In addition, there is a surge in urbanization in developing countries such as India, Brazil and Africa. For instance, urbanization in Africa is expected to grow at a rate of 5.5% from 2020 to 2025. Thus, all such factors drive the growth of the market and helped in expansion of scaffolding market. 

In addition, as per scaffolding market trends, government investment in renovation and home remodeling activities increase the demand for scaffolding products, which fuels the growth of the market. For instance, according to data published by government of Canada, the Canadian construction industry value in 2021 was $424.8 billion, which includes home improvement, renovations, and remodeling of commercial & residential buildings. In addition, rise in spending on construction and renovation activities in countries such as Germany, the U.S., and Japan fosters the market growth. For instance, the U.S. Government spending on public and private infrastructure activities increased by about 10% from 2020 to 2022.  

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 market during scaffolding market forecast period.  

There is a surge in urban population in the emerging countries such as India and China that lead to growth in demand for increased residential and commercial spaces. For instance, the residential construction industry in the UK increased by 2.9% from 2020 to 2021. Moreover, the construction industry in the U.S. is expected to grow at a rate of 5% and reach $1,428.5 billion by 2024. In addition, the commercial construction sector reported a notable rise in the past years especially in developing economies such as Brazil and Eastern European countries. Asia-Pacific is expected to witness higher growth rate owing to an increase in spending in countries such as India and China, thereby driving the growth of the global scaffolding market.

Key Benefits For Stakeholders

• By type, supported scaffolding segment generated the highest revenue in 2021. 

• By material, steel segment generated the highest revenue in 2021.  

• By end user, residential segment generated the highest revenue in 2021. 

• Region wise, Asia-Pacific generated the largest scaffolding market share in 2021.