Rapid construction of high rise buildings all across the globe has helped the global scaffold industry grow dramatically all around the world. Scaffold signifies a temporary structure that is primarily used by the labors to work above the ground level. The segment represented a significant industry in itself and crossed an astounding figure in the year 2018. The industry is expected to grow at a compound annual growth rate of 6.1% for the next few years and would cross $78.4 billion by the year 2026.
When it comes to scaffolding, there is a slew of factors that affect the growth prospects of the industry. The rise in the growing number of high rise buildings coupled with the ever-increasing demand for maintenance and cleaning of the buildings has helped the scaffold industry proliferate in the next few years. Other professional services include painting and electrical establishments that play a crucial role in the maintenance of buildings. The industry is completely dominated by the contractors that employ thousands of people all across the globe.
When it comes to drawbacks, there are very few factors that limit the growth prospects of the industry. Long terms agreements, coupled with the skilled labors, drive the growth prospects of the industry. However, lack of skilled labors and contractors help the contractors have an upper arm, keep the customers in a tight fix. Contractors often show monopoly while finding skilled labors has become a daunting task for companies.
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The global scaffold market is characterized by several factors, with each segment playing a crucial role in the growth of the industry. The segmentation allows individuals to look from multiple angles. This ensures that a person has an unbiased outlook from all perspectives. However, two crucial factors that play an important role in the sector in the type and the application of the product. Based on type, the industry is segmented into class c and class f. While on the other hand, based on the application, the industry can be categorized into cement & concrete, mining applications, road construction, and different range of services.
The scaffold industry has a global presence with North America leading the sector. The United States, coupled with Canada, represent the lion share due to the presence of high rise buildings in the region. Europe and the Middle East also show some promising signs of growth as the buildings continue to look for services to help them maintain the high rise buildings. Other regions include the Asia Pacific region, which shows some promising signs of growth in the near future. China and India lead the race with both the nations making some serious investments in the same.
Scaffolding giant, Palmers Scaffolding completed its hundred years. The company was established in the year 1919 by Edwin Palmer and is currently run by Colin Butt. On the occasion, the company discussed about it future plans and celebrated the mark of the remarkable feat. The company is expected to bring major innovation in the field, a few years down the line.
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Table Of Content:
1 Market Overview
2 Manufacturers Profiles
3 Global Market Competition, by Players
4 Global Market Size by Regions
5 North America Revenue by Countries
6 Europe Revenue by Countries
7 Asia-Pacific Revenue by Countries
8 South America Revenue by Countries
9 Middle East and Africa Revenue by Countries
10 Global Market Segment by Type
11 Global Market Segment by Application
12 Global Market Size Forecast (2019-2024)
13 Research Findings and Conclusion
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