Formwork Market Scope
Formwork are refer to permanent or temporary molds of timber & plywood, aluminum and steel use to support fresh concrete in initial stage when it is generally viscous. Proper building of formworks decides strength, surface finish and size of the final concrete structures. and Increasing construction infrastructure in key economies, rising application in buildings, transportation and industrial facilities, growing demand of aluminum formwork as they are lightweight are the key factor growing formwork market.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | PERI GmbH Manufacturers (Germany), Doka USA, Ltd. (United States), ULMA Construction (Italy), Acrow Ltd. designs (New Zealand), NOE-Schaltechnik Georg Meyer-Keller GmbH (Germany), Faresin Industries (Italy), MFE Formwork Technology Sdn. Bhd. (Malaysia), Wall-Ties & Forms, Inc. (United States) and Other |
CAGR | 5.8% |
The competitive landscape of the forklift truck market is likely to remain dynamic in the coming years. As new technologies emerge and customer preferences change, companies will need to be adaptable and innovative in order to stay ahead of the competition. Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Formwork market throughout the predicted period.
PERI GmbH Manufacturers (Germany), Doka USA, Ltd. (United States), ULMA Construction (Italy), Acrow Ltd. designs (New Zealand), NOE-Schaltechnik Georg Meyer-Keller GmbH (Germany), Faresin Industries (Italy), MFE Formwork Technology Sdn. Bhd. (Malaysia), Wall-Ties & Forms, Inc. (United States) and Other are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are STRABAG SE (Austria), WACO International Holdings Ltd. (South Africa) and MEVA Formwork Systems, Inc. (Germany).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Formwork market by Type , by Application (Buildings, Transportation, Industrial Facilities and Others) and Region with country level break-up.
On the basis of geography, the market of Formwork has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In September 2023, The Ontario Formwork Association (OFA) has officially announced its partnership with SafetyLoop, a Canadian safety management software company, to better track and maintain the safety of tower cranes. This partnership aims to usher in a new era of safety management practices within the Ontario forming industry.
In October 2023, Knest, has launched a new ad film with Rahul Dravid, fondly known as Mr. Dependable. The film is part of the ongoing nationwide 'As Dependable As It Gets' campaign, with the cricketing legend as the brand ambassador. The film draws meaningful parallels between both entities and is tied together by an originally composed symphony.
Influencing Trend:
Growing Usage of Aluminum Formwork
Market Growth Drivers:
Rising Demand in Construction Industry, Reduction in Cost and Time for Construction Projects and Increasing Demand of Building Information Modelling Techniques
Challenges:
Lack of Skilled Workforce
Restraints:
Fluctuating Raw Material Prices
Opportunities:
Swelling Demand of Timber and plywood Formwork, Rising Application in both Residential and Commercial Sector and Innovations in Engineered Formwork
Key Target Audience
Formwork Manufacturers, Construction Businesses, Downstream Vendors, Government organizations, Research Organizations, Market Research and Consulting Companies and Others