Changing consumer behavior coupled with the expansion of rental services for suspended scaffolding will lead to evolutionary growth of the suspended scaffolding market. Consequently, options for leasing and its accompanying tax benefit opportunities are becoming an attractive facet in the suspended scaffolding market. Several renting firms are partnering with end users for expansion of their equipment rental and leasing businesses.
The global suspended scaffolding market is witnessing an upsurge owing to the substantial construction of proposed structures such as buildings and bridges. Smart city initiatives throughout the world will remain one of the key opportunities for suspended scaffolding manufacturers.
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On this backdrop, Fact.MR, in its latest research report, reveals that the global suspended scaffolding market is projected to exhibit a CAGR of around 5.3% during 2019-2029 and is projected to surpass the market value of US$ 16.7 Bn by 2029.
Demand Upsurge in Building & Construction Activities, Says Fact.MR
The construction and infrastructure sector are likely to offer prolific market opportunities on the back of increasing demand for suspended scaffolding across developed as well as developing economies. Suspended scaffolding is slowly emerging as the turnkey solution to overcome unique and demanding access challenges for bridge maintenance, construction, blasting, painting and repair work. This in turn will augur well for the growth of suspended scaffolding market in the foreseeable future.
Key Takeaways of the Suspended Scaffolding Market
- According to Fact.MR, the increasing prominence of electrically operated suspended scaffolding across end-use industries is likely to change the overall scenario of the global suspended scaffoldings industry
- Light weight suspended scaffoldings greatly increase the productivity of suspended scaffolding products and enhances their transportation efficiency. Light weight suspended scaffolding accounted for more than 1/3rd share at the end of forecast period
- Fact.MR says that the maintenance activities of skyscrapers such as panel replacement creates a favorable adoption pool for suspended scaffolding
- Manufacturers are mainly focusing on labor-saving technology such as transport platforms, construction hoists, material hoists and mast climbing work platforms for increasing production and profitability.
- Two-point, fully adjustable swing stage scaffolds, also known as suspension scaffolds, are the most popular type and accounted for more than 2/5th share in 2018
- Suspended scaffolding component suppliers have low bargaining power due to large number of suspended scaffolding manufacturers, contractors and sub-contractors
“Demand for suitable products with safety and compatibility features will be the core essence of the suspended scaffolding market. End users are willing to pay more for lightweight products that possess exceptional performance” according to Fact.MR
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Product Innovation Focused on Maximum Safety: The Key to Win Markets
The suspended scaffolding market is well matured, however it has plenty of room for improvement. Major players in the market including BrandSafway, Peri Gmbh, and Waco International etc are focusing on product innovation and acquisitions for strengthening their hold in the global suspended scaffolding market.
Domestic manufacturers in China along with other regional market participants are finding lucrative opportunities in the market, backed by government initiatives towards worker safety.
Find More Valuable Insights on the Suspended scaffolding Market
Fact.MR, in its new offering, provides an unbiased analysis of the global market for suspended scaffolding, with historical data on demand (2014-2018) and expected projections for the period 2019-2029. The report discloses compelling insights into the demand for suspended scaffolding based on product (single point, two point, multi-point, multi-level, float type, catenary and others), material (steel, aluminum and wood), end use (construction, shipbuilding, power generation and others) across several major regions.
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