Albany, NY -- (SBWIRE) -- 09/28/2018 -- According to a new market report published by Transparency Market Research titled "Scaffolding Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026," the global scaffolding market is expected to reach US$ 78.4 Bn by 2026, expanding at a CAGR of 6.1% from 2018 to 2026. North America held the highest market share in the scaffolding market in 2017.
Scaffolding, also known as staging or scaffold is a non-permanent structure to support workers and materials in construction, ship building, oil & gas, and various other industries that require construction work. A variety of materials are used in the manufacture of temporary scaffolding structures. These range from bamboo, wood, aluminum, and steel to the latest high strength steel grades. Renting of scaffolding products is a significant source of revenue for scaffolding market players. About 80% of the cost of scaffolding is consumed in installing, dismantling, and transportation of scaffolding products. Lightweight scaffolding greatly increases the productivity of scaffolding products and enhances their transportation efficiency.
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Increasing demand from the construction industry with high rise commercial buildings and improvement in residential infrastructure along with new constructions is expected to support the growth of the global scaffolding market over the forecast timeline. Maintenance which involves cleaning, repairs, painting jobs, electrical installations and other activities will drive the demand for supported or suspended scaffoldings over the forecast period.
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The scaffolding rental services can cost around US$ 15-50 per day or US$ 40-150 per week depending on the size, type of scaffolding, and its installation location. Rents can be on a daily, weekly, or monthly basis and can also be by piece (charges for each wheel, frame, or guard rail) or as a complete kit. If the scaffoldings are required for a larger height, the workbench which converts into a low scaffold can cost around US$ 35-350 or more depending on the capacity and size. An aluminum folding ladder can typically cost US$ 300-800 which separates into two pieces to support an aluminum plank/platform. A 4-wheeled mini scaffolding unit can be bought for US$ 80-300 based on the weight capacity and materials. Heavy duty and larger scaffolding unit costs can vary from US$ 200-2000 or even more depending on the size (length and height of scaffolding plus work platform width), materials, and capacity.
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The supported scaffolding segment is expected to have the highest CAGR of 6.2% from 2018 to 2026. Construction benefits associated with supported scaffolding such as easy installation, convenience, more safety, and cost effectiveness is expected to lead to preference for this type of scaffolding across all construction requirements. Rolling scaffolding is preferred mostly for projects which have short term duration that needs to be carried out at multiple locations over a longer distance. It is mainly used in electrical and mechanical trades and is expected to have a CAGR of 5.9% over the forecast timeframe.