Asia Pacific Formwork System Market Forecast to 2030 - Regional Analysis - by Offerings (Solutions and Services) and Material Used (Wood, Metal, and Others)
The Asia Pacific formwork system market was valued at US$ 2,802.91 million in 2022 and is expected to reach US$ 4,397.82 million by 2030; it is estimated to register a CAGR of 5.8% from 2022 to 2030.
Rise in Adoption of Formwork System Rental Services Drives Asia Pacific Formwork System Market
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 Asia Pacific formwork system market is growing significantly due to the accessibility and benefits provided by rental services.
Asia Pacific Formwork System Market Overview
Established economies and technological advancements support the growth of diversified industries and markets in Asia Pacific. The presence of a large population in APAC has led to increased demand for residential as well as commercial construction. The region comprises several developing economies, including India and many other Southeast Asian countries, which poses a strong demand for more infrastructure projects. Further, governments of various countries are taking various measures to attract private investments in infrastructure development projects. Increasing investments in residential and commercial construction projects are boosting the demand for advanced building materials, including formwork solutions, in APAC countries.
Several industry-recognized formwork system market players have a presence in APAC, which leads to the easy availability of formwork solutions to the construction industry players. The smooth supply chain of formwork solutions significantly supports the growth of the market. A few of the prime companies operating in the formwork system market in APAC include Doka; PERI; Shandong Xingang Formwork Co., Ltd.; Alpi Sea; and GETO; among others. Companies such as Doka provide an array of formwork solutions to cater to the construction needs of LNG tanks in Taiwan and India, forming the Xayaburi hydroelectric power project using a new solution for high loads-d3 in Laos and constructing double containment for Tianwan Power Station in China. Additionally, the company has expanded its presence in Kuala Lumpur. Under Malaysia's Capital, the Tun Razak Exchange (TRX) is one of the biggest construction projects having Signature Tower-the one of the tallest buildings in the country. The height of a building is approximately 400 meters. For this building, the company offers mixed solutions of automatic climbing formworks-SKE50 & SKE100, Protection screen Xclimb 60, and large-area formwork Top 50. Footprints of such gigantic players in the Asian market would help accelerate the use of formwork solutions for constructing new structures. Similarly, Ratec Asia is another company that has received and implemented numerous customer projects in the first year of its incorporation. In Singapore, the company has developed a simple and flexible magnetic formwork system for a construction company. Also, an Innoland Development Corporation in the Philippines is utilizing Ractec Asia's formwork solution for the prefabrication of their components at construction sites. Thus, the rise in such construction and development projects drives the adoption of formwork systems in the region.
Asia Pacific Formwork System Market Revenue and Forecast to 2030 (US$ Million)
Asia Pacific Formwork System Market Segmentation
The Asia Pacific formwork system market is segmented based on offerings, material used, and country.
Based on offerings, the Asia Pacific formwork system market is bifurcated into solutions and services. The solutions segment held a larger share in 2022.
In terms of material used, the Asia Pacific formwork system market is segmented into wood, metal, and others. The wood segment held the largest share in 2022.
Based on country, the Asia Pacific formwork system market is categorized into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific formwork system market in 2022.
Encofrados Alsina; Brand Industrial Services Inc; EFCO corp; FORSA SA.; MEVA GmbH; MFE Formwork Technology Sdn Bhd; PASCHAL-Werk G. Maier GmbH; PERI GmbH; Shandong Xingang Formwork Co., Ltd.; and Doka GmbH are some of the leading companies operating in the Asia Pacific formwork system market.
Table of Content
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Asia Pacific Formwork System Market Landscape
4.1 Overview
4.2 Ecosystem Analysis
4.2.1 List of Formwork System Suppliers
5. Asia Pacific Formwork System Market - Key Industry Dynamics
5.1 Asia Pacific Formwork System Market - Key Industry Dynamics
5.2 Market Drivers
5.2.1 Increasing Number of Infrastructure Development Projects Globally
5.2.2 Rise in Adoption of Formwork System Rental Services
5.2.3 Growing Adoption of Metal Formwork
5.3 Market Restraints
5.3.1 Less Construction Projects in Developing Countries such as China, South Africa
5.3.2 Storage Space Constraints
5.4 Market Opportunities
5.4.1 Growing Adoption of Modular and Reusable Formwork Systems
5.4.2 Growth in Construction Sector
5.5 Future Trends
5.5.1 Advent of New Formwork Technologies
5.6 Impact of Drivers and Restraints:
6. Formwork System Market - Asia Pacific Market Analysis
6.1 Asia Pacific Formwork System Market Revenue (US$ Million), 2022 - 2030
6.2 Asia Pacific Formwork System Market Forecast and Analysis
7. Asia Pacific Formwork System Market Analysis - Offering
7.1 Solutions
7.1.1 Overview
7.1.2 Solutions Market, Revenue and Forecast to 2030 (US$ Million)
7.2 Services
7.2.1 Overview
7.2.2 Services Market, Revenue and Forecast to 2030 (US$ Million)
8. Asia Pacific Formwork System Market Analysis - Material Used
8.1 Wood
8.1.1 Overview
8.1.2 Wood Market Revenue, and Forecast to 2030 (US$ Million)
8.2 Metal
8.2.1 Overview
8.2.2 Metal Market Revenue, and Forecast to 2030 (US$ Million)
8.3 Others
8.3.1 Overview
8.3.2 Others Market Revenue, and Forecast to 2030 (US$ Million)
9. Asia Pacific Formwork System Market - Country Analysis
9.1 Asia Pacific Formwork System Market Revenue and Forecasts and Analysis - By Country
9.1.1 Asia Pacific Formwork System Market Revenue and Forecasts and Analysis - By Country
9.1.2 Australia Formwork System Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.2.1 Australia Formwork System Market Breakdown by Offering
9.1.2.2 Australia Formwork System Market Breakdown by Material Used
9.1.3 China Formwork System Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.3.1 China Formwork System Market Breakdown by Offering
9.1.3.2 China Formwork System Market Breakdown by Material Used
9.1.4 India Formwork System Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.4.1 India Formwork System Market Breakdown by Offering
9.1.4.2 India Formwork System Market Breakdown by Material Used
9.1.5 Japan Formwork System Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.5.1 Japan Formwork System Market Breakdown by Offering
9.1.5.2 Japan Formwork System Market Breakdown by Material Used
9.1.6 South Korea Formwork System Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.6.1 South Korea Formwork System Market Breakdown by Offering
9.1.6.2 South Korea Formwork System Market Breakdown by Material Used
9.1.7 Rest of Asia Pacific Formwork System Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.7.1 Rest of Asia Pacific Formwork System Market Breakdown by Offering
9.1.7.2 Rest of Asia Pacific Formwork System Market Breakdown by Material Used
10. Industry Landscape
10.1 Overview
10.2 Market Initiative
10.3 New Product Development
10.4 Merger and Acquisition
11. Company Profiles
11.1 Encofrados Alsina
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Brand Industrial Services Inc
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 EFCO Corp
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 FORSA SA.
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 MEVA Schalungs-Systeme GmbH
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 MFE Formwork Technology Sdn Bhd
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 PASCHAL-Werk G. Maier GmbH
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 PERI GmbH
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
11.9 Shandong Xingang Formwork Co., Ltd.
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview
11.9.5 SWOT Analysis
11.9.6 Key Developments
11.10 Doka GmbH
11.10.1 Key Facts
11.10.2 Business Description
11.10.3 Products and Services
11.10.4 Financial Overview
11.10.5 SWOT Analysis
11.10.6 Key Developments
12. Appendix
12.1 About The Insight Partners
12.2 Word Index
List of Tables
Table 1. Asia Pacific Formwork System Market Segmentation
Table 2. List of Vendors in the Value Chain
Table 3. Asia Pacific Formwork System Market Revenue and Forecasts To 2030 (US$ Million)
Table 4. Asia Pacific Formwork System Market Revenue and Forecasts To 2030 (US$ Million) - Offering
Table 5. Asia Pacific Formwork System Market Revenue and Forecasts To 2030 (US$ Million) - Material Used
Table 6. Asia Pacific Formwork System Market Revenue and Forecasts To 2030 (US$ Mn) - By Country
Table 7. Australia Formwork System Market Revenue and Forecasts To 2030 (US$ Mn) - By Offering
Table 8. Australia Formwork System Market Revenue and Forecasts To 2030 (US$ Mn) - By Material Used
Table 9. China Formwork System Market Revenue and Forecasts To 2030 (US$ Mn) - By Offering
Table 10. China Formwork System Market Revenue and Forecasts To 2030 (US$ Mn) - By Material Used
Table 11. India Formwork System Market Revenue and Forecasts To 2030 (US$ Mn) - By Offering
Table 12. India Formwork System Market Revenue and Forecasts To 2030 (US$ Mn) - By Material Used
Table 13. Japan Formwork System Market Revenue and Forecasts To 2030 (US$ Mn) - By Offering
Table 14. Japan Formwork System Market Revenue and Forecasts To 2030 (US$ Mn) - By Material Used
Table 15. South Korea Formwork System Market Revenue and Forecasts To 2030 (US$ Mn) - By Offering
Table 16. South Korea Formwork System Market Revenue and Forecasts To 2030 (US$ Mn) - By Material Used
Table 17. Rest of Asia Pacific Formwork System Market Revenue and Forecasts To 2030 (US$ Mn) - By Offering
Table 18. Rest of Asia Pacific Formwork System Market Revenue and Forecasts To 2030 (US$ Mn) - By Material Used
Table 19. List of Abbreviation
List of Figures
Figure 1. Asia Pacific Formwork System Market Segmentation, By Country
Figure 2. Ecosystem: Formwork System Market
Figure 3. Impact Analysis of Drivers and Restraints
Figure 4. Asia Pacific Formwork System Market Revenue (US$ Million), 2022 - 2030
Figure 5. Asia Pacific Formwork System Market Share (%) - Offering, 2022 and 2030
Figure 6. Solutions Market Revenue and Forecasts To 2030 (US$ Million)
Figure 7. Services Market Revenue and Forecasts To 2030 (US$ Million)
Figure 8. Asia Pacific Formwork System Market Share (%) - Material Used, 2022 and 2030
Figure 9. Wood Market Revenue and Forecasts To 2030 (US$ Million)
Figure 10. Metal Market Revenue and Forecasts To 2030 (US$ Million)
Figure 11. Others Market Revenue and Forecasts To 2030 (US$ Million)
Figure 12. Asia Pacific Formwork System Market, by Key Country - Revenue (2022) (US$ Million)
Figure 13. Asia Pacific Formwork System Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 14. Australia Formwork System Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 15. China Formwork System Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 16. India Formwork System Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 17. Japan Formwork System Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 18. South Korea Formwork System Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 19. Rest of Asia Pacific Formwork System Market Revenue and Forecasts To 2030 (US$ Mn)
1. Encofrados Alsina
2. Brand Industrial Services Inc
3. EFCO corp
4. FORSA SA.
5. MEVA GmbH
6. MFE Formwork Technology Sdn Bhd
7. PASCHAL-Werk G. Maier GmbH
8. PERI GmbH
9. Shandong Xingang Formwork Co., Ltd.
10. Doka GmbH
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Asia Pacific formwork system market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in Asia Pacific formwork system market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing, and distribution.