Global Formwork and Scaffolding Market Size, Share, And Business Benefits By Product Type (Formwork (Wall Formwork, Column Formwork, Slab Formwork, Beam Formwork, Tunnel Formwork, Bridge Formwork, Others), Scaffolding (Supported, Suspended, Rolling, Cantilever, Others)), By Material Type (Steel, Timber and Plywood, Aluminum, Others), By End-use(Infrastructure(Roadways, Aviation, Railroad, Water Supply and Resources, Power and Energy, Others), Residential(Family Houses, Apartments, Others), Commercial(Office Buildings, Retail Spaces, Hospitality, Healthcare, Others), Industrial(Manufacturing, Warehouse and Distribution, Flex Space)), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2025-2034

Report Overview

Global Formwork and Scaffolding Market is expected to be worth around USD 70.1 billion by 2034, up from USD 35.3 billion in 2024, and grow at a CAGR of 7.1% from 2025 to 2034. In Asia-Pacific, rising construction projects pushed market size to USD 15.3 billion.

Formwork is a temporary or permanent mold used to hold wet concrete until it sets and gains strength. It provides shape, support, and finish to the concrete structure. Scaffolding, on the other hand, is a temporary framework used by workers to access difficult-to-reach areas during construction, maintenance, or repair. Both play a crucial role in ensuring construction safety, speed, and accuracy.

The formwork and scaffolding market involves the supply, rental, and servicing of structural support systems used in building and infrastructure projects. This market caters to a wide range of construction sectors, like residential, commercial, industrial, and public infrastructure. It includes a variety of systems, from traditional wood-based units to advanced modular and metal-based frameworks.

Urbanization and large-scale infrastructure development are major growth drivers for this market. Increased government spending on roads, metros, and bridges has accelerated demand. Additionally, construction in emerging economies is pushing the need for faster, safer, and reusable formwork and scaffolding solutions.

There is a growing demand for modern systems that reduce labor, cut construction time, and improve safety. Prefabricated and modular systems are increasingly preferred due to their reusability and efficiency in high-rise construction and industrial projects.

Key Takeaways

• Global Formwork and Scaffolding Market is expected to be worth around USD 70.1 billion by 2034, up from USD 35.3 billion in 2024, and grow at a CAGR of 7.1% from 2025 to 2034.
• Formwork holds a 58.4% share, leading the formwork and scaffolding market by product type globally.
• Steel dominates material use in the market, capturing a 54.2% share across all construction applications.
• The infrastructure sector contributes 41.7%, making it the top end-use segment driving market demand.
• Strong infrastructure spending in Asia-Pacific fueled growth, reaching 43.4% market share.

By Product Type Analysis

Formwork held a 58.4% share in product type for construction efficiency.

In 2024, Formwork held a dominant market position in the By Product Type segment of the Formwork and Scaffolding Market, with a 58.4% share. This dominance is attributed to its extensive application in shaping concrete structures across residential, commercial, and industrial projects.

Contractors and builders preferred formwork solutions for their cost-efficiency, faster project timelines, and higher structural accuracy. Compared to scaffolding, formwork offers more standardized modular systems, which enhances construction productivity and reduces labor dependencies.

By Material Type Analysis

Steel dominated material usage with 54.2% due to durability and strength.

In 2024, Steel held a dominant market position in the By Product Type segment of the Formwork and Scaffolding Market, with a 54.2% share. The dominance of steel can be attributed to its superior strength, high load-bearing capacity, and long lifespan, which made it a preferred choice for large-scale and high-rise construction projects.

Steel formwork and scaffolding systems offered greater reusability, precision, and stability compared to alternatives like aluminum, timber, or plastic, driving their widespread adoption.

By End-Use Analysis

Infrastructure segment led end-use market, capturing 41.7% global demand share.

In 2024, Infrastructure held a dominant market position in the By End-use segment of the Formwork and Scaffolding Market, with a 41.7% share. This significant share reflects the surge in public infrastructure developments such as bridges, highways, rail corridors, and urban transit systems.

Governments across regions prioritized infrastructure upgrades to stimulate economic recovery and address growing urban demands, directly boosting the need for reliable formwork and scaffolding systems.

Key Market Segments

By Product Type

• Formwork
  • Wall Formwork
  • Column Formwork
  • Slab Formwork
  • Beam Formwork
  • Tunnel Formwork
  • Bridge Formwork
  • Others
• Scaffolding
  • Supported
  • Suspended
  • Rolling
  • Cantilever
  • Others

By Material Type

• Steel
• Timber and Plywood
• Aluminum
• Others

By End-use

• Infrastructure
  • Roadways
  • Aviation
  • Railroad
  • Water Supply and Resources
  • Power and Energy
  • Others
• Residential
  • Family Houses
  • Apartments
  • Others
• Commercial
  • Office Buildings
  • Retail Spaces
  • Hospitality
  • Healthcare
  • Others
• Industrial
  • Manufacturing
  • Warehouse and Distribution
  • Flex Space

Driving Factors

Government Infrastructure Projects Fuel Market Demand

One major driving factor for the Formwork and Scaffolding Market is the steady rise in government-funded infrastructure projects. In many countries, governments are heavily investing in new highways, rail networks, airports, bridges, and metro systems.

These large-scale construction works require durable and reliable formwork and scaffolding systems to ensure safety, speed, and efficiency. Steel-based systems are especially in demand for their strength and reusability.

The push for smart cities and urban expansion also adds to this demand. As infrastructure development continues to be a key pillar of economic growth, the need for advanced formwork and scaffolding solutions is rising rapidly—making this public sector spending a strong growth driver for the market globally.

Restraining Factors

High Initial Investment Slows Market Expansion

One key restraining factor in the Formwork and Scaffolding Market is the high initial investment cost. Purchasing steel or aluminum formwork and scaffolding systems can be expensive, especially for small and mid-sized construction companies. These systems require significant upfront capital, along with transportation, maintenance, and skilled labor to handle and install them.

While the long-term benefits may be strong, the heavy initial cost makes many builders opt for cheaper, traditional options like timber, which are less durable but more affordable short-term. This pricing barrier can limit adoption, especially in developing regions with budget constraints.

Growth Opportunity

Rise of Prefabricated Construction Boosts Demand

A major growth opportunity in the Formwork and Scaffolding Market comes from the rise of prefabricated and modular construction methods. These modern building techniques need precise and reusable formwork and scaffolding systems to assemble parts quickly and safely on-site. As more builders move towards faster, cost-effective, and sustainable construction practices, demand for advanced formwork systems is growing.

Prefabrication also reduces waste, shortens project timelines, and enhances safety—making it attractive for both residential and commercial projects. This shift opens new doors for companies offering easy-to-install, lightweight, and adjustable formwork and scaffolding solutions.

Latest Trends

Integration of Smart Technologies Enhances Efficiency

A significant trend in the Formwork and Scaffolding Market is the integration of smart technologies to improve construction efficiency and safety. Modern formwork systems now incorporate sensors and Internet of Things (IoT) devices that monitor real-time data such as curing temperatures and pressure levels.

This real-time monitoring ensures quality control and reduces the likelihood of structural issues. Additionally, the adoption of Building Information Modeling (BIM) allows for precise planning and visualization of formwork layouts, facilitating better project management and coordination among teams.

These technological advancements not only streamline construction processes but also contribute to cost savings by minimizing errors and rework. As the construction industry continues to embrace digital transformation, the demand for smart formwork and scaffolding solutions is expected to grow, driving innovation and efficiency in the market.

Regional Analysis

Asia-Pacific dominated the market with a 43.4% share, valued at USD 15.3 billion.

In 2024, Asia-Pacific emerged as the dominant region in the Formwork and Scaffolding Market, holding a 43.4% share, equivalent to USD 15.3 billion. This dominance was driven by rapid urbanization, population growth, and large-scale infrastructure development across countries such as China, India, and Southeast Asian nations.

Government initiatives focused on smart cities, metro rail systems, and highway expansion further fueled demand for modern construction solutions like formwork and scaffolding.

North America followed with steady demand driven by the renovation of aging infrastructure and residential construction activity. Europe maintained a balanced position with ongoing investments in green buildings and modular construction, particularly in Western European countries.

Meanwhile, the Middle East & Africa region saw moderate growth, supported by infrastructure development in the Gulf countries and urban expansion projects. Latin America remained the smallest regional contributor, with slow but consistent activity, particularly in Brazil and Mexico.

Key Regions and Countries

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • South Korea
  • India
  • Australia
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of MEA

Key Players Analysis

BrandSafway has solidified its status as a leading provider of access and specialty services across industrial, commercial, and infrastructure sectors. Ranked fifth among the top 600 specialty contractors by Engineering News-Record, the company’s extensive portfolio and commitment to safety and efficiency have been instrumental in securing large-scale projects and maintaining a strong market presence. ​

PERI Group continues to lead in innovation within the formwork and scaffolding industry. With a 2023 turnover of €1.847 billion and operations in over 65 countries, PERI’s investment in new technologies, such as the Alpha Column formwork system tailored for the U.S. market, underscores its focus on cost-effective and efficient solutions. Additionally, their emphasis on sustainability and digital solutions, showcased at bauma 2025, positions them favorably in a market increasingly valuing eco-friendly practices.

MEVA focuses on delivering high-quality formwork solutions with an emphasis on customer service and innovation. Their involvement in projects like The Merchant Building in Columbus, Ohio, demonstrates their capability to support complex constructions with efficient formwork systems.

Top Key Players in the Market

• ULMA Group
• Doka GmbH
• Layher Scaffolding Systems Private Limited
• BrandSafway
• PERI Group
• Acrow
• MEVA
• Farina Formworks
• G.B.M. Building Equipments S.r.l.
• XMWY Group
• GOWE Group
• Rizhao Fenghua Scaffoldings Co., Ltd.
• Waco Kwikform
• KHK Scaffolding & Formwork LLC.
• Altrad Group
• Other Key Players

Recent Developments

• In January 2024, Hydro Mobile, a BrandSafway company, introduced the M2 Motorized Access System at the World of Concrete trade show. This system allows workers to safely and efficiently access elevated work areas, reducing the need for traditional scaffolding and improving job site productivity.

Report Scope