Report : Europe Formwork System Market Forecast to 2030 - Regional Analysis - by Offerings (Solutions and Services) and Material Used (Wood, Metal, and Others)
At 4.6% CAGR, Europe Formwork System Market is Speculated to be Worth US$ 1,963.03 Million by 2030, Says Business Market Insights
According to Business Market Insights' research, the Europe formwork system market was valued at US$ 1,367.70 million in 2022 and is expected to reach US$ 1,963.03 million by 2030, registering a CAGR of 4.6% from 2022 to 2030. Rise in adoption of formwork system rental services and increasing number of infrastructure development projects globally are among the critical factors attributed to the Europe formwork system market expansion.
Rental services offer a flexible and cost-effective solution for construction companies, contractors, and various industries that require temporary access solutions. Renting a formwork system is often more cost-effective than purchasing, as it eliminates the need for a large upfront investment. This appeals to businesses looking to manage expenses while still accessing quality formwork systems. Infrastructure projects often involve complex designs and large-scale structures. Different projects have varying formwork requirements based on their scope, size, and complexity. Rental services provide the flexibility to choose the most suitable formwork system for the specific project's needs. Rental services allow access to the formwork system only when needed, avoiding the need for long-term storage. The growth of rental services aligns with the changing dynamics of the construction industry, where flexibility, efficiency, and cost savings are increasingly valued. With the expansion of rental offerings becoming more tailored to various project types, the Europe formwork system market formwork system market is growing significantly due to the accessibility and benefits provided by rental services.
On the contrary, storage space constraints hamper the growth of Europe formwork system market.
Based on offerings, the Europe formwork system market is bifurcated into solutions and services. The solutions segment held 77.8% share of the Europe formwork system market in 2022, amassing US$ 1,064.06 million. It is projected to garner US$ 1,543.02 million by 2030 to expand at 4.8% CAGR during 2022-2030.
In terms of material used, the Europe formwork system market is segmented into wood, metal, and others. The wood segment held 43.7% share of the Europe formwork system market in 2022, amassing US$ 598.17 million. It is projected to garner US$ 819.49 million by 2030 to expand at 4.0% CAGR during 2022-2030.
Based on country, the Europe formwork system market is categorized into Germany, France, the UK, Italy, Spain, and the Rest of Europe formwork system market. Germany held 24.4% share of Europe formwork system market in 2022, amassing US$ 333.94 million. It is projected to garner US$ 504.11 million by 2030 to expand at 5.3% CAGR during 2022-2030.
Key players operating in the Europe formwork system market are Encofrados Alsina, Brand Industrial Services Inc, EFCO corp, FORSA SA., MEVA GmbH, PASCHAL-Werk G. Maier GmbH, PERI GmbH, and Doka GmbH, among others.
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