Global Formwork Systems Market growing at a CAGR of 4.3% from 2023 to 2030
Category : Manufacturing and Construction | Published Date : Aug 2023
Key Market Overview
Consegic Business Intelligence analyzes that the global formwork system market is growing with a CAGR of 4.3% and is expected to reach USD 8,086.35 million in 2030 from USD 5,782.26 million in 2022.
The report highlights the increasing demand for formwork systems in the construction industry due to the rise in government funding for infrastructure. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the formwork system market.
Global Formwork Systems Market By Overview
The formwork system market is bifurcated into type, material, application, and end-use industry. Based on type, the market is segmented into climbing formworks, vertical formworks, and horizontal formworks. In 2022, the horizontal formworks segment accounted for the highest market share in the formwork system market. On the basis of material, the market is categorized into timber, plywood, steel, aluminum, and others. In 2022, the timber segment accounted for the highest market share in the overall formwork system market. On the basis of application, the market is categorized into slab, steep barriers, columns, roads, structures, and others. In 2022, the structures segment accounted for the highest market share in the overall formwork system market. On the basis of end-use industry, the market is categorized into residential, commercial, and infrastructure. In 2022, the residential segment accounted for the highest market share in the overall formwork system market.
Get Free SampleMarket Dynamics
Driver:
- Rise in government investments in large-scale construction projects is fostering the formwork system market growth.
- Increasing renovation and maintenance activities have augmented the demand for formwork systems.
Restraints:
- High cost of installation and maintenance of formwork systems is likely to restrict the market growth.
Opportunity:
- The growing emphasis on sustainable environmental practices in the construction industry is expected to propel the demand for formwork systems.
Market Segmentation:
| Report Attributes | Report Details |
| By Type | Climbing Formworks (Self-Climbing and Crane Climbing), Vertical Formworks, and Horizontal Formworks |
| By Material | Timber, Plywood, Steel, Aluminum, and Others |
| By Application | Slab, Steep Barriers, Columns, Roads, Structures, and Others |
| By End-User | Residential, Commercial, and Infrastructure |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Competitive Landscape :
The market is dominated by certain major companies such as Doka GmbH, MEVA, Nova Formworks, among others have a strong market position in current market circumstances. Further, the formwork system market is expected to witness significant growth in the coming years due to the rise in favourable government initiatives in the construction of transport infrastructure. The market players compete for a firm market position through mergers and acquisitions, product innovations, and business strategies. Thus, evolving research and developments are expected to help market players adopt innovative ways of product creation to cater to the growing needs of various end-use industries.
- Doka GmbH
- MEVA
- ULMA Group
- EFCO Corp.
- SH
- Suzhou TECON Construction Technology Co., Ltd.
- URTIM Formwork and Scaffolding Systems
- Total Contec
- Brand Industrial Services, Inc.
- PERI SE
- KHK Scaffolding & Formwork LLC (Taurani Holdings Ltd, Dubai)
- Nova Formworks