SAN ANTONIO, May 11, 2022 (GLOBE NEWSWIRE) -- A new analysis by Verify Markets shows the North American Scaffolding Market was valued at $9.5 billion in 2021 and expected to reach revenues of over $10.0 billion over the forecast period (2021-2028). The new North American Scaffolding Market: Key Trends and Opportunities report states the commercial segment is likely to witness faster growth as compared to the industrial segment during the forecast period. Scaffolding demand in the commercial segment is likely to be driven by the rapid growth of the construction industry and demand arising from the restoration work of high-rise buildings.
Industrial applications are labor intensive and the nature of work is likely to change spontaneously. Additionally, the market is likely to face a trained labor shortage. Scaffolding companies in industrial setting are likely to include painting, coating, insulation, and additional associated services that support the continuous and reliable operation and expansion of industrial facilities. The commercial segment typically has a higher rental component as compared to the industrial segment, and the projects are fixed-bid long-term projects with a defined scope that are likely to yield higher profit margins than the industrial segment. The duration of work on the industrial side is typically less, and, likewise, the margins are less.
Companies providing scaffolding have expanded their fleet to include a wide variety of equipment from many different suppliers, including aerial work platforms, forklifts, earth moving equipment, pumps, generators, contractor tools, HVAC equipment, and more. This rental equipment provides a reliable alternative to ownership for customers, delivering high performance associated with specialized equipment without capital expenditures. Some other scaffolding market drivers include rapid growth of the construction industry, consistent demand from existing facilities, demand arising from an increasing number of high-rise buildings, growing demand from disaster response, recovery of industrial activity, and geopolitical factors.
“Software solutions for scaffolding are slowly changing the path to market, as tools incorporating Microsoft Visio and Autodesk’s AutoCAD are able to be shared and accessed by multiple parties utilizing the cloud. The processes associated with scaffolding design, quote generation, inventory management, shipping, invoicing, and rental management are all becoming more streamlined by market participants,” notes Anthony Miller, Managing Partner at Verify Markets.
The key players in the market include BrandSafway, The Brock Group, Apache Industrial Services, Inc., Sunbelt Rentals, Inc., and several others. Most of scaffolding equipment is made of steel, while aluminum scaffolding has been growing proportionately faster as growth in suspended scaffolding opportunities is outpacing market growth.
North American Scaffolding Market: Key Trends and Opportunities report provides an in-depth analysis of the overall North American Scaffolding Market. The report captures various market dynamics such as growth drivers, restraints, market revenues and forecast, product trends, competitive landscape, market share by end user application, market share by material, product type, and opportunities for growth.
A copy of the North American Scaffolding Market: Key Trends and Opportunities research report can be obtained at www.verifymarkets.com. Follow us for more updates on Twitter @verify_markets. This report is part of Verify Markets’ Rental Equipment & Power Solutions Subscription market research and consulting practice. Other market reports include:
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Our research methodology consists of extensive primary interviews with key participants in the market along with secondary sources to validate our information. For more information on this report and other research (including custom reports and consulting), contact info@verifymarkets.com or call +1.210.595.6987.
