by The scaffolding accessories market comprises a wide range of safety equipment such as fall arrest equipment, anchors, fasteners, and others that are used alongside scaffoldings during infrastructure development and construction activities. Scaffolding accessories provide safety, stability, and longevity to the scaffolding structures used for construction, maintenance, and repairing purposes across residential and commercial spaces.
The global scaffolding accessories market is estimated to be valued at US$ 1.68 Mn in 2024 and is expected to exhibit a CAGR of 5.3% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Rapid infrastructure development activities around the world have been a major growth driver for the scaffolding accessories market. The growing need for better transport, energy and utility infrastructure has led to higher spending on construction projects by both public and private sectors. This has increased the demand for scaffolding equipment and accessories from construction companies. According to research, global infrastructure investment needs over $94 trillion by 2040. Moreover, government initiatives such as the National Infrastructure Pipeline in India and the New Infrastructure Program in China will further propel infrastructure spending in the coming years. The strong focus on infrastructure modernization is expected to boost the scaffolding accessories market during the forecast period.
SWOT Analysis
Strength: The scaffolding accessories market is expected to witness steady growth driven by rising infrastructure projects across the globe. Additionally, growing awareness about workplace safety is encouraging the use of advanced scaffolding accessories.
Weakness: Heavy reliance on construction industry cycles makes the market vulnerable to economic slowdowns. Availability of low-cost alternatives also poses challenges.
Opportunity: Untapped markets in emerging nations offer lucrative opportunities for manufacturers and suppliers. Also, innovations centered around lightweight yet durable materials can further boost demand.
Threats: Stringent regulatory guidelines around workplace safety increase compliance costs. Raw material price volatility also poses inflationary pressure on overall costs.
Key Takeaways
The Global Scaffolding Accessories Market Size is estimated to be valued at US$ 1.68 Mn in 2024 and is expected to exhibit a CAGR of 5.3% over the forecast period 2024 to 2031.
The global scaffolding accessories market is expected to witness high growth over the forecast period driven by infrastructural developments in Asia Pacific and Europe. The Asia Pacific region currently dominates the market and the trend is expected to continue given the rising construction spending in China, India and other developing Asian countries. Countries like China, India, Indonesia, Thailand and Vietnam are anticipated to be the fastest growing scaffolding accessories markets.
Key players operating in the scaffolding accessories market include Pfizer Inc., GlaxoSmithKline, Biomed Pvt. Ltd., Serum Institute of India, Baxter International, Sanofi S.A., Neuro Biotech, Merck, JN-International among others. The market is fragmented in nature with the top players accounting for around 30-35% of the overall revenues. In order to gain market share, companies are focusing on new product development and tying up with leading construction contractors for steady orders.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
