Hi, what are you looking for?
According to our latest market study on “Formwork System Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Offering (Solution and Service) and Material Used (Wood, Metal, and Others),” the market was valued at US$ 5,552.33 million in 2020 and is projected to reach US$ 7,486.32 million by 2028; it is expected to grow at a CAGR of 4.2% from 2021 to 2028.
Plywood and timber are the major form of woods that are used in formwork. The timber formwork is a commonly used formwork material among all other available formwork materials. This material provides onsite fabrication of required size and shape; and is easily utilized in construction. On the other hand, the plywood formwork is a re-molded timber resin-bonded plywood sheets, which are attached to the timber frames. The plywood formwork is flexible, light weight, strong, and easy to handle. Companies such as Metsä Wood Plywood panels is engaged in the business of offering formwork plywood panel for wall casting, flat/curved surface to achieve highest quality concrete cast finish.
Formwork is a process of creating a temporary mold in which concrete can be poured and molded. Formwork used to be composed of wood, but today a variety of materials such as steel, aluminum, plastic, and other materials are available. The pressure exerted is affected by both the kind of concrete and temperature of the pour. Therefore, formwork selection is controlled by both. Factors such as growing construction industry supported by favorable government assistance and inclination toward constructing green buildings are impacting the infrastructural projects, which drive the growth of the formwork systems market. Also, the penetration of timber and plywood is higher than other materials as it is available at lesser price and can be used for multi usability. Moreover, with the advent of sophisticated technologies such as tunnel formwork, fiberglass shuttering, and wireless temperature, monitoring formwork system in formwork industry is projected to generate ample of growth prospects for formwork system market
Get Exclusive Sample Pages of Formwork System Market at https://www.theinsightpartners.com/sample/TIPRE00006601/
The formwork system market players in APAC are experiencing significant demand for their products due to constant development in transportation infrastructure, along with road and rail infrastructure across the region. Most of the countries in APAC are economically developing and are focusing majorly on the rising environmental issue; thus, the investments are directed toward advanced technologies to precisely deal with it. There are many ongoing tunnel construction projects across APAC, which require formwork systems to precisely monitor the environment inside the tunnels. A few ongoing tunnel construction projects in the region are Mumbai–Ahmedabad Bullet Train (India), The Melbourne Metro Rail Project (Australia), and China–Laos railway tunnel (China).
The scope of formwork system in the Asian market is increasing at an exponential rate. China dominated the APAC formwork system market in 2020. China has a massive construction industry, and the Chinese government constantly emphasizes on the development of robust, attractive, and safe construction structure, which propels the demand for formwork system. The country also has significantly large industrial sector, encompassing several industries. The number of manufacturing facilities, warehouses, and storage facilities continues to surge year-on-year (YoY). With continuous increase of mentioned facilities, the demand for formwork system eventually increases. Additionally, the country is putting additional efforts on using advanced building materials during the production phase of the buildings, especially residential buildings.
Top 10 market players in formwork system market are Brand Industrial Services, Inc., Doka GmbH, EFCO Corp, Encofrados Alsina, FORSA SA., MEVA Schalungs-Systeme GmbH, MFE Formwork Technology Sdn Bhd, PASCHAL-Werk G. Maier GmbH, PERI GmbH, Shandong Xingang Formwork Co., Ltd. The formwork system market is highly fragmented due to occurrence of huge number of small scale and medium scale manufacturers in both developed and developing economies. The top 10 market players are majorly focusing on various organic and inorganic growth strategies to survive in the formwork system market. Such as, innovation of new technologies to offer enhanced product portfolios to the customers, merger and acquisitions, and expansion strategies.
The COVID-19 outbreak has severely disrupted the real estate and construction of building structures, including the hardware component of formwork systems. Lockdown scenarios due to this crisis have led the construction industry experts to analyze that the industry would face at least a quarter of lag in construction equipment supply chain. This disruption is expected to create tremors till mid-2021. The manufacturing and construction industry is likely to pick up pace soon after the governments across the globe lift the various containment measures steadily to revive the economy. The construction of housing and commercial projects is anticipated to gain pace from 2022, which is further foreseen to bolster the construction equipment manufacturing, including hardware components of formwork systems.
Download the Latest COVID-19 Analysis on Formwork System Market Growth Research Report at https://www.theinsightpartners.com/covid-analysis-sample/TIPRE00006601
The formwork system market is segmented based on offering and materials used. Based on offerings, the formwork system market is segmented into the solution and services. Based on material used, the formwork system market is segmented into wood, metal and others. Further, based on geography, the formwork system market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and South America. APAC led the formwork system market in 2020 with a market share of 47%, followed by Europe and North America. In 2020, China commanded a 37.8 percent share of the North America formwork system market. Furthermore, China has the ability to produce large quantities of construction equipment’s, at a lower cost, giving it a competitive advantage over other countries.
At present, construction sector is witnessing an upward trend. With buildings getting taller and the floor plates getting bigger, the final users are seeking forward to advanced formwork system, which are light, reusable, cost-effective, durable, flexible, and easy to assemble & dismantle. There are a few companies, which offers end-to-end formwork design system for small & large projects. Peri, Doka, MFE, BSL Scaffolding, Waco, and Paschal are among a few well-established players existing in the market. With increasing number of commercial, residential, and industrial projects, the construction industry is booming, which is drawing the attention of government to provide financial assistance. Also, advanced building materials are getting emerged to make construction cost effective.
With the developing economy, innovative building technologies have initiated to transform the urban landscape. The surge in construction work across residential, commercial, and several industries, owing to the growing urbanization and industrialization, is expected to drive the growth of the formwork system market during the forecast period. The government is putting additional emphasis on strengthening the construction and infrastructural development, which is projected to create lucrative opportunities for the scaffolding and formwork industry in coming years. For instance, PERI India has expanded their footprints in all construction segment of India. The company has worked on landmark projects including Statue of Unity, ITPO, Mahatma Mandir, Agra-Lucknow Expressway, ITC Colombo One, Hyderabad Metro, Bengaluru metro, and Surat Diamond Bourse. The company has provided their formwork and scaffolding system to make mentioned projects cost-effective.
The wood formwork is a commonly used formwork compared to other materials such as steel, aluminum, plastic, and fabric. The wooden formwork is extensively utilized in construction from traditional times, thus is the oldest type of form in construction industry. The plywood and timber shuttering are available at cheaper rate and are easily accessible, which makes their usage more often. Factors such as, the wooden shuttering is easy to make compared to other materials and labour cost is less compared to procurement of reusable form work material, therefore these systems are appropriate for small scale project. Climbing form work, beam formworks, flexible formwork, staircase shuttering, slab formwork, construction of concrete roads, and supporting metallic shuttering are among the applications of wooden formwork in concrete. SVA Formwork Solution, PASCHAL, METSÄ Group, TECON Formwork, and G.B.M. Building Equipments S.r.l. are some of the wooden formwork system providers operating in the market and catering different requirements of construction sector.
Based on offering, the global formwork system market is bifurcated into solution and services. Builders and contractors are facing completion deadlines which is propelling the demand for cost-effective formwork solutions to improve construction project pace, completion time, worker safety, and quality.
Order a Copy of Formwork System Market Shares, Strategies and Forecasts 2021-2028 Research Report at https://www.theinsightpartners.com/buy/TIPRE00006601/
Most of the market initiatives were observed in European region, which have a high potential of formwork system providers. Few of the important market initiatives and product developments from the industry are mentioned below:
Acropol group is acquired by MEVA Schalungs-Systeme GmbH. Meva will gain additional distribution prospects in European countries as a result of the takeover. PERI launched its first 3D construction printer. The printer produces a wide range of prefabricated concrete elements
Browse Related Reports and Get Sample copy
Regenerative Thermal Oxidizer Market Forecast to 2027 – COVID-19 Impact and Global Analysis by Type (Single-Bed, Double-Bed, and Triple-Bed); End User (Automotive, Chemicals, Coating and Printing, Pharmaceuticals, Semiconductors, and Others)
Automated Waste Collection System Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Product Type (Stationary and Mobile); End-user (Airports, Educational Institutions, Hospitals, Corporate Offices, Hotels/ Restaurants, and Others), and Geography
Smart Parcel Delivery Locker Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Type (Standard Smart Locker and Temperature Controlled Smart Locker), Component (Hardware and Software), and Application (Retail, Residential, University, Office, and Others)
Energy Recovery Ventilator Market Forecast to 2027 – COVID-19 Impact and Global Analysis by Technology Type (Plate Heat Exchanger, Heat Pipe Heat Exchanger, Rotary Heat Exchanger, Run-Around Coil, and Other Types) and End User (Residential, Commercial, and Industrial) and Geography
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
If you have any queries about this report or if you would like further information, please contact us:
Canada launched a long-awaited review of its cannabis regulations four years after legalizing its recreational use.
Rupert Murdoch's eldest son -- who is also chief executive of Fox News parent Fox Corporation -- is suing Crikey over an opinion piece.
Asian markets fell again Friday as part of a global sell-off fuelled by recession fears.
Deadly Hurricane Fiona has strengthened into a Category 4 storm as it barrels toward Canada's Atlantic coast, according to the National Hurricane Center.
COPYRIGHT © 1998 - 2022 DIGITAL JOURNAL INC. Sitemaps: XML / News . Digital Journal is not responsible for the content of external sites. Read more about our external linking.