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.

Key Takeaways

Key players operating in the Scaffolding Accessories market are Pfizer Inc., GlaxoSmithKline, Biomed Pvt. Ltd., Serum Institute of India, Baxter International, Sanofi S.A., Neuro Biotech, Merck, JN-International, CNGB. These players are focusing on developing innovative product offerings and adopting business expansion strategies through mergers & acquisitions to strengthen their global presence.

The increasing number of construction projects such as buildings, bridges, roads, and other infrastructure development activities are fueling the demand for scaffoldings and accessories. Rapid urbanization, growing population, improving economic conditions are some of the prominent factors driving strong growth in the global construction industry.

The Asia Pacific Scaffolding Accessories Market Size is expected to witness the fastest growth during the forecast period on account of strong growth in construction spending, increasing FDI inflows for infrastructure development, and government initiatives for affordable housing and smart city projects in countries such as China, India. Leading manufacturers are also shifting their production facilities to the Asia Pacific to leverage low costs and tap into the opportunities in emerging economies.

Market Drivers

One of the key drivers for the scaffolding accessories market is the rapid growth of the construction industry globally. According to estimates, the global construction industry grew by over 3% in 2021 and similar trends of growth are expected over the next decade. The increasing spends on public infrastructure such as roads, bridges, urban transport, renewable energy projects, and construction of residential and commercial buildings are presenting lucrative business opportunities for scaffolding accessories suppliers and manufacturers. Other factors such as shifting of manufacturing facilities to low-cost regions, rising safety awareness, and implementation of stringent workplace safety regulations are also fueling the adoption of proper scaffolding systems integrated with advanced accessories.

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