December 23, 2019 by Amanpreet
Global suspended scaffolding market is growing on the basis of safety and compatibility features. Occupational Safety and Health Administration has issued several regulations to establish safety equipment workstations. This initiative is done on the pretext of reducing the number of workstation accidents. Stringent government regulations exist in the suspended scaffold market. Manufacturers in the market are focused to develop scaffolds that are power operated. These power controlled scaffolds are expected to fuel the market growth in the forecast period.
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Light weight products preferred
The latest Fact.MR report forecasts that the global suspended scaffolding market will expand at 5.3% of growth rate in the forecast period. It is estimated to exceed US$16Mn in evaluation as the forecast period ends. Growth in demand of suspended scaffoldings in different industries including shipbuilding industry and construction industry boost the growth of global suspended scaffolding market. Other applications of suspended scaffoldings include maintenance, painting and bridge repair. Glass panels of sky scrapper are cleaned and replaced with help of suspended scaffoldings. Prominent regions in the global market include North America and Asia Pacific who are expected to maintain their prominence in the forecast period. Together they are anticipated to generate opportunities with worth greater than US$4Bn during the forecast period 2019-2029.
End-users are ready to shell money for light-weight products for their exceptional performance. Manufacturers are conducting research and developments to enhance various aspects of suspended scaffoldings including productivity, transportation efficiency and installation time. Demand for two point suspended scaffolds is projected to surge in future owing to its benefits that include easy installation and cost efficiency. Major factors including easy regulations, cost-effective labor and presence of unorganized participants of the industry are expected to drive the global suspended scaffold market in future.
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Unorganized players control market
The global market is in fragmented state with different players such as manufactures and contractors competing to gain greater market share. Unorganized players primarily control the market. Conventional suspended scaffolds are still used in developing economies like India where it accounts for 95% of the market. Construction sector is the emerging sector in global suspended scaffolding market but is very cost intensive. This compels the customers to use traditional scaffoldings as they are cheap. The market growth is inhibited by this price constraint in different developing nations.
6% to 8% of the global suspended scaffolding market is acquired by major market players. These players are consistently striving to expand their product portfolio with extending their reach in multiple applications. Stake holder are continuously innovating the scaffolds to create more safe products for workers which have a greater shelf life. These innovations generate lucrative opportunities of manufacturers in the market. Companies in the market are progressive towards attaining sustainability. New sophisticated techniques are integrated by emerging industry players to endure safety and have enhanced cost-efficiency. Rental flexibility is the new provision in the market. Major developments in market include BrandSafway’s acquisition of Venko Group BV which is a coating service provider.
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