May 18, 2024
Scaffolding Accessories Market

The Global Scaffolding Accessories Market Is Propelled By Surging Adoption In Construction Industry

The global Scaffolding Accessories market is estimated to be valued at US$ 1.45 Billion in 2023 and is expected to exhibit a CAGR of 5.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Scaffolding accessories are used to strengthen and stabilize scaffold structures during construction and maintenance projects. These accessories include ledgers, transoms, braces, base plates, nuts, bolts, clips and other fastening items. Scaffolding provides a safe working platform for construction workers near heights and is a necessity for projects involving new builds, refurbishments and renovation works. The rapid growth of construction industry globally especially in emerging nations is driving the demand for scaffolding structures and related accessories.

Market key trends:

The surging adoption of scaffolding in commercial and residential construction is a major factor propelling the scaffolding accessories market growth. Rapid urbanization has increased infrastructure development activities which require extensive use of scaffolding during erection of buildings, bridges and other structures. Furthermore, growing investments in revamping aging infrastructure has augmented the use of scaffolding accessories significantly. Strict safety regulations regarding working at heights have also boosted the demand as scaffolding provides a safe working platform and prevents accidents. Innovation in material and designs of accessories is further expanding their applications ensuring structural integrity of scaffolding setups.

SWOT Analysis

Strength: The scaffolding accessories market is growing owing to increasing construction activities globally. Consistent requirement of maintenance and repair of existing infrastructure also supports market growth.
Weakness: Availability of low-cost alternatives and presence of unorganized players pose threat to established brands. Fluctuations in raw material prices also impact profit margins of manufacturers.
Opportunity: Development of lightweight and customized scaffolding accessories catering to specific project needs present new growth prospects. Growth in infrastructure investment in emerging economies of Asia Pacific and Middle East & Africa boosts demand.
Threats: Strict regulatory standards and certification requirements regarding safety increase operating costs. Economic slowdowns and budget constraints of governments hamper infrastructure spending.

Key Takeaways

The global Scaffolding Accessories Market Growth is expected to witness high growth supported by increasing non-residential and infrastructure construction activities globally.

The Asia Pacific region currently accounts for more than 40% share of the global scaffolding accessories market led by China, India, and other Southeast Asian countries. This is attributable to ongoing infrastructure development projects along with residential and commercial construction activities in major economies. The region is expected to maintain its dominance supported by continued government investments towards development of transportation, energy and telecommunication infrastructure.

Key players operating in the scaffolding accessories market are Brand Energy & Infrastructure Services, Layher Holding GmbH & Co. KG, Safway Group Holding LLC, ULMA Construction, PERI GmbH, Altrad Group, MJ-GerĂ¼st GmbH, Waco Kwikform Limited, Turbo Scaffolding, Simplified Scaffolding Pty Ltd., Hunan World Scaffolding Co., Ltd., Tianjin Wellmade Scaffold Co., Ltd., Apollo Scaffold Services Ltd., Pilosio S.p.A., and Instant Upright. These companies are focusing on expanding their geographic footprint and product portfolios through acquisitions and new product launches to strengthen market share.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it