April 20, 2024
Scaffolding Accessories Market

Scaffolding Accessories Market Is Poised To Grow By 5.3% With Rising Construction Industry Around The Globe

Scaffolding accessories provide safety and support to workers and equipment during construction work at height. The most commonly used scaffolding accessories include safety nets, fall arrest systems, casters and brackets. They ensure smooth erection and dismantling of scaffolding structures and prevent workers and materials from falling from height. The global construction industry has been growing steadily which is increasing the demand for scaffolding and associated accessories significantly.

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 from 2024 to 2030. 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, CNGB.

Key Takeaways

Key players: 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, CNGB. They are focusing on developing advanced and lightweight scaffolding accessories to improve worker safety.

Growing demand: Rapid urbanization and infrastructure development projects in emerging economies are driving the growth of construction sector. This is increasing the demand for scaffolding structures and associated accessories from construction companies.

Global expansion: Leading scaffolding accessories manufacturers are expanding their global footprint by enhancing their distribution networks across major construction markets. They are also focusing on emerging countries in Asia Pacific and Latin America with growing construction spending.

Market key trends

One of the key trends in Scaffolding Accessories Market Share is the development of modular and lightweight accessories. Companies are designing modular brackets, safety nets and fall arrest systems that can be easily assembled and disassembled. They are also using advanced lightweight materials like composites and metals to reduce the load on scaffolding structures. This improves mobility and stability of scaffolding during construction work at height. Furthermore, growing emphasis on worker safety is increasing the adoption of intelligent safety devices with real-time fall detection and alerts features.

Porter’s Analysis

Bargaining power of buyers: Moderate bargaining power due to availability of substitutes however high switching costs for industrial buyers.

Bargaining power of suppliers: Moderate bargaining power due to a large number of raw material suppliers.

Threat of new substitutes: Moderate threat due to availability of alternative accessories however Scaffolding accessories have specific design requirements.

Competitive rivalry: Intense competition among established players to gain market share.

Geographical Regions
North America currently leads the Scaffolding accessories market in terms of value owing to high infrastructure development activities. The United States contributes significantly to the regional market share.

The Asia Pacific region is expected to witness the fastest growth over the forecast period. Rapid urbanization and infrastructure development projects in countries like China and India are driving the demand for scaffolding accessories in the region.

Porter’s Analysis
Threat of new entrants: Low capital requirements however established players enjoy economies of scale.

Bargaining power of buyers: Moderate bargaining power due to availability of substitutes however high switching costs for industrial buyers.

Bargaining power of suppliers: Moderate bargaining power due to a large number of raw material suppliers.

Threat of new substitutes: Moderate threat due to availability of alternative accessories however Scaffolding accessories have specific design requirements.

Competitive rivalry: Intense competition among established players to gain market share.

Geographical Regions
North America currently leads the Scaffolding accessories market in terms of value owing to high infrastructure development activities. The United States contributes significantly to the regional market share.

The Asia Pacific region is expected to witness the fastest growth over the forecast period. Rapid urbanization and infrastructure development projects in countries like China and India are driving the demand for scaffolding accessories in the region.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it