Formwork System Market

Formwork System Market is Surging with 4.2% of CAGR by 2028

 

The formwork system market is segmented based on offering and materials used. Based on offerings, the formwork system market is segmented into the solution and services. Based on material used, the formwork system market is segmented into wood, metal and others. Further, based on geography, the formwork system market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and South America. APAC led the formwork system market in 2020 with a market share of 47%, followed by Europe and North America. In 2020, China commanded a 37.8 percent share of the North America formwork system market. Furthermore, China has the ability to produce large quantities of construction equipment’s, at a lower cost, giving it a competitive advantage over other countries.

BRAND INDUSTRIAL SERVICES, INC., DOKA GMBH, EFCO CORP, ENCOFRADOS ALSINA, FORSA SA., MEVA SCHALUNGS-SYSTEME GMBH, MFE FORMWORK TECHNOLOGY SDN BHD, PASCHAL-WERK G. MAIER GMBH, PERI GMBH, SHANDONG XINGANG FORMWORK CO., LTD. -PROMINENT MARKET PARTICIPANTS IN FORMWORK SYSTEM MARKET

Top 10 market players in formwork system market are Brand Industrial Services, Inc., Doka GmbH, EFCO Corp, Encofrados Alsina, FORSA SA., MEVA Schalungs-Systeme GmbH, MFE Formwork Technology Sdn Bhd, PASCHAL-Werk G. Maier GmbH, PERI GmbH, Shandong Xingang Formwork Co., Ltd. The formwork system market is highly fragmented due to occurrence of huge number of small scale and medium scale manufacturers in both developed and developing economies. The top 10 market players are majorly focusing on various organic and inorganic growth strategies to survive in the formwork system market. Such as, innovation of new technologies to offer enhanced product portfolios to the customers, merger and acquisitions, and expansion strategies.

At present, construction sector is witnessing an upward trend. With buildings getting taller and the floor plates getting bigger, the final users are seeking forward to advanced formwork system, which are light, reusable, cost-effective, durable, flexible, and easy to assemble & dismantle. There are a few companies, which offers end-to-end formwork design system for small & large projects. Peri, Doka, MFE, BSL Scaffolding, Waco, and Paschal are among a few well-established players existing in the market. With increasing number of commercial, residential, and industrial projects, the construction industry is booming, which is drawing the attention of government to provide financial assistance. Also, advanced building materials are getting emerged to make construction cost effective.

Most of the market initiatives were observed in European region, which have a high potential of formwork system providers. Few of the important market initiatives and product developments from the industry are mentioned below:

Year

News

Region

2021

Acropol group is acquired by MEVA Schalungs-Systeme GmbH. Meva will gain additional distribution prospects in European countries as a result of the takeover.

Europe

2020

PERI launched its first 3D construction printer. The printer produces a wide range of prefabricated concrete elements

Europe

 

 

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