DUBLIN--(BUSINESS WIRE )--The "Scaffolding Market by Type, Material and End User: Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.

The global scaffolding market size was $45,765.5 million in 2020 and is expected to reach $81,228.3 million by 2030, with a CAGR of 5.7% from 2021 to 2030.

A rise in the requirement of residential and commercial buildings, which in turn, increases demand for scaffolding that drives the growth of the scaffolding market. For instance, the construction market in India has grown at a rate of 5.6% from 2016 to 2020. According to the United Nation Projections, world population is estimated to reach over 10 billion by the year 2050. As the population has increased globally, the demand for residential buildings has increased, thereby fueling the growth of the scaffolding market.

Moreover, the growth of the construction industry globally and remodeling of homes boost the growth of the global scaffolding market. Surge in urbanization and the rise in awareness of building safety are some of the factors, which fuel the growth of the global scaffolding market.

A rise in urbanization drives the demand for new construction buildings and residential & commercial construction activities, which in turn, increases demand for scaffolding products that fuel the growth of the global scaffolding market. For instance, according to the German Construction Federation, the construction sector in Germany is expected to grow by 4% from 2020 to 2022. Furthermore, rise in disposable income of the population in various countries such as China, Brazil, and Africa is expected to drive the adoption of scaffolding products, in residential and commercial activities, which boosts the growth of the scaffolding market. For instance, the disposable income of Spain registered a growth of 7.3% from 2018 to 2019. Furthermore, a rise in spending on commercial and residential construction activities is expected to fuel the adoption of scaffolding products. Moreover, government initiatives to maintain standards of products boost the growth of the global scaffolding market.

However, fluctuation in raw material prices and unreliability in harsh weather conditions are anticipated to hamper the growth of the global scaffolding market. Furthermore, government investments in the building infrastructure sector are projected to provide lucrative opportunities for the growth of the global scaffolding market.

The scaffolding market is segmented on the basis of type, material, end user, and region. On the basis of type, the market is divided into supported scaffolding, suspended scaffolding, and rolling scaffolding. The supported scaffolding segment generated the highest revenue in 2020. On the basis of material, the market is divided into aluminum, wood, and steel. Steel segment dominated the market in 2020. On the basis of end user, the market is categorized into residential, commercial, and industrial. The residential segment generated the highest revenue in 2020.

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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900