About Formwork
Formwork are refer to permanent or temporary molds of timber & plywood, aluminum and steel use to support fresh concrete in initial stage when it is generally viscous. Proper building of formworks decides strength, surface finish and size of the final concrete structures. and Increasing construction infrastructure in key economies, rising application in buildings, transportation and industrial facilities, growing demand of aluminum formwork as they are lightweight are the key factor growing formwork market.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 5.8% |
The competitive landscape of the forklift truck market is likely to remain dynamic in the coming years. As new technologies emerge and customer preferences change, companies will need to be adaptable and innovative in order to stay ahead of the competition. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Formwork market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
PERI GmbH Manufacturers (Germany), Doka USA, Ltd. (United States), ULMA Construction (Italy), Acrow Ltd. designs (New Zealand), NOE-Schaltechnik Georg Meyer-Keller GmbH (Germany), Faresin Industries (Italy), MFE Formwork Technology Sdn. Bhd. (Malaysia), Wall-Ties & Forms, Inc. (United States) and Other are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are STRABAG SE (Austria), WACO International Holdings Ltd. (South Africa) and MEVA Formwork Systems, Inc. (Germany).
Segmentation Overview
AMA Research has segmented the market of Global Formwork market by Type (Traditional timber formwork, Engineered Formwork System, Re-usable plastic formwork, Flexible formwork, Stay-In-Place structural formwork and Others), Application (Buildings, Transportation, Industrial Facilities and Others) and Region.
On the basis of geography, the market of Formwork has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Material, the sub-segment i.e. Timber & Plywood will boost the Formwork market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Slab Formwork , the sub-segment i.e. Timber Beam Slab Formwork will boost the Formwork market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Usage of Aluminum Formwork
Market Growth Drivers:
Rising Demand in Construction Industry, Reduction in Cost and Time for Construction Projects and Increasing Demand of Building Information Modelling Techniques
Challenges:
Lack of Skilled Workforce
Restraints:
Fluctuating Raw Material Prices
Opportunities:
Swelling Demand of Timber and plywood Formwork, Rising Application in both Residential and Commercial Sector and Innovations in Engineered Formwork
Market Leaders and their expansionary development strategies
In September 2023, The Ontario Formwork Association (OFA) has officially announced its partnership with SafetyLoop, a Canadian safety management software company, to better track and maintain the safety of tower cranes. This partnership aims to usher in a new era of safety management practices within the Ontario forming industry.
In October 2023, Knest, has launched a new ad film with Rahul Dravid, fondly known as Mr. Dependable. The film is part of the ongoing nationwide 'As Dependable As It Gets' campaign, with the cricketing legend as the brand ambassador. The film draws meaningful parallels between both entities and is tied together by an originally composed symphony.
Key Target Audience
Formwork Manufacturers, Construction Businesses, Downstream Vendors, Government organizations, Research Organizations, Market Research and Consulting Companies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.