Middle East and Africa Formwork System Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Offering (Solutions and Service) and Material Used (Wood, Metal, and Others)
Market Introduction
The formwork system market in the MEA is further segmented into South Africa, Saudi Arabia, and the UAE. The region is expected to witness a rapid increase in commercialization and industrialization, which would further boost the growth of various sectors. The Gulf countries are economically developed, while the African countries are yet to match up to the economic conditions of these countries. In the era of continuous technological developments, integration of advanced technologies is increasing in a range of industries, including construction in Middle East. The use of advanced building materials and technologies in construction industry will promote the scope of formwork system in the MEA region. Countries such as the UAE, Saudi Arabia, Kuwait, Qatar, and Bahrain are making significant investment into infrastructure projects to strengthen construction sector and address rapidly growing population demands. Both private and government construction companies are working together to cater infrastructure demands and earn high revenues. The infrastructure business in MEA is booming, and therefore, is looking ahead for advanced and integrated automation solutions. The leading market for the construction industry in MEA is residential, and sport arena construction projects, among others. Therefore, the growth of the construction industry in MEA boosts the demand for formwork system in the region.
To reduce the impact of COVID–19, the governments have adopted contingency plans such as complete lockdown and 24-hour sterilization program. The introduction of lockdowns has resulted in a halt of construction activities in the region. The slowdown in construction activities in the region has directly impacted the sales of formwork system in the region. Also, various countries have imposed travel bans, which will create challenges in recruiting and moving employees; this will impact the projects that are in the initial stage. Also, most of the businesses in the region have come to a halt and are expected to continue slower than usual pace. The countries are taking significant containment measures to reduce the number of infected patients. COVID-19 pandemic outbreak, which has severely affected the construction industry and has resulted in the declining sales of the formwork system in MEA.
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Market Overview and Dynamics
The formwork system market in MEA is expected to grow from US$ 258.42 million in 2021 to US$ 305.39 million by 2028; it is estimated to grow at a CAGR of 2.4% from 2021 to 2028. The wood formwork is a commonly used formwork compared to other materials such as steel, aluminum, plastic, and fabric. The wooden formwork is extensively utilized in construction from traditional times, thus is the oldest type of form in construction industry. The plywood and timber shuttering are available at cheaper rate and are easily accessible, which makes their usage more often. Factors such as, the wooden shuttering is easy to make compared to other materials and labour cost is less compared to procurement of reusable form work material, therefore these systems are appropriate for small scale project.
Key Market Segments
The MEA formwork system market is segmented into offering and material used. Based on offering, the MEA formwork system market is segmented into solutions, services. The solutions segment held the largest market share in 2020. Based on material used, the MEA formwork system market is segmented into wood, metal, others. The wood formwork segment dominated the market in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the formwork system market in MEA are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Brand Industrial Services, Inc.; Doka GmbH; EFCO Corp; Encofrados Alsina; FORSA SA.; MEVA Schalungs-Systeme GmbH; MFE Formwork Technology Sdn Bhd; PASCHAL-Werk G. Maier GmbH; and PERI GmbH.
Reasons to buy report
- To understand the MEA formwork system market landscape and identify market segments that are most likely to guarantee a strong return.
- Stay ahead of the race by comprehending the ever-changing competitive landscape for MEA formwork system market.
- Efficiently plan M&A and partnership deals in MEA formwork system market by identifying market segments with the most promising probable sales.
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form MEA formwork system market.
- Obtain market revenue forecast for market by various segments from 2021-2028 in MEA region.
MEA Formwork System Market Segmentation
MEA Formwork System Market - By Offering
- Solutions
- Service
MEA Formwork System Market - By Material Used
- Wood
- Metal
- Others
MEA Formwork System Market - By Country
- Saudi Arabia
- South Africa
- UAE
- Rest of MEA
MEA Formwork System Market - Company Profiles
- Brand Industrial Services, Inc.
- Doka GmbH
- EFCO Corp
- Encofrados Alsina
- FORSA SA.
- MEVA Schalungs-Systeme GmbH
- MFE Formwork Technology Sdn Bhd
- PASCHAL-Werk G. Maier GmbH
- PERI GmbH
TABLE OF CONTENTS
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. MEA Formwork System Market Landscape
4.1 Market Overview
4.2 MEA PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. MEA Formwork System Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 The Number of Infrastructure Projects Is Increasing
5.1.2 Wood Formwork's Reach is Expanding
5.2 Market Restraints
5.2.1 Limited Construction Projects in Emerging Nations
5.3 Market Opportunities
5.3.1 Significant Growth in Construction Sector
5.4 Future Trends
5.4.1 Arrival of New Formwork Technologies
5.5 Impact Analysis of Drivers and Restraints
6. Formwork System Market – MEA Analysis
6.1 MEA Formwork System Market Overview
6.2 MEA Formwork System Market Revenue Forecast and Analysis
7. MEA Formwork System Market – By Offering
7.1 Overview
7.2 MEA Formwork System Market, by Offering (2020 and 2028)
7.3 Solutions
7.3.1 Overview
7.3.2 Solutions: Formwork System Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Service
7.4.1 Overview
7.4.2 Service: Formwork System Market – Revenue and Forecast to 2028 (US$ Million)
8. MEA Formwork System Market – By Material Used
8.1 Overview
8.2 MEA Formwork System Market, by Material Used (2020 and 2028)
8.3 Wood
8.3.1 Overview
8.3.2 Wood: Formwork System Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Metal
8.4.1 Overview
8.4.2 Metal: Formwork System Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others: Formwork System Market – Revenue and Forecast to 2028 (US$ Million)
9. MEA Formwork System Market – Country Analysis
9.1 Overview
9.1.1 MEA: Formwork System Market- by Key Country
9.1.1.1 South Africa: Formwork System Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.1.1 South Africa: Formwork System Market- by Offering
9.1.1.1.2 South Africa: Formwork System Market- By Material Used
9.1.1.2 Saudi Arabia: Formwork System Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.2.1 Saudi Arabia: Formwork System Market- by Offering
9.1.1.2.2 Saudi Arabia: Formwork System Market- By Material Used
9.1.1.3 UAE: Formwork System Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.3.1 UAE: Formwork System Market- by Offering
9.1.1.3.2 UAE: Formwork System Market- By Material Used
9.1.1.4 Rest of MEA: Formwork System Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.4.1 Rest of MEA: Formwork System Market- by Offering
9.1.1.4.2 Rest of MEA: Formwork System Market- By Material Used
10. MEA Formwork System Market - COVID-19 Impact Analysis
10.1 Overview
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
12. Company Profiles
12.1 Encofrados Alsina
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Brand Industrial Services, Inc.
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Doka GmbH
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 EFCO Corp
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 FORSA SA.
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 MEVA Schalungs-Systeme GmbH
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 MFE Formwork Technology Sdn Bhd
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 PASCHAL-Werk G. Maier GmbH
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 PERI GmbH
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. MEA Formwork System Market Revenue and Forecast to 2028 (US$ Million)
Table 2. MEA: Formwork System Market- By Key Country – Revenue and Forecast to 2028 (US$ Million)
Table 3. South Africa: Formwork System Market- by Offering –Revenue and Forecast to 2028 (US$ Million)
Table 4. South Africa: Formwork System Market- By Material Used –Revenue and Forecast to 2028 (US$ Million)
Table 5. Saudi Arabia: Formwork System Market- by Offering –Revenue and Forecast to 2028 (US$ Million)
Table 6. Saudi Arabia: Formwork System Market- By Material Used –Revenue and Forecast to 2028 (US$ Million)
Table 7. UAE: Formwork System Market- by Offering –Revenue and Forecast to 2028 (US$ Million)
Table 8. UAE: Formwork System Market- By Material Used –Revenue and Forecast to 2028 (US$ Million)
Table 9. Rest of MEA: Formwork System Market- by Offering –Revenue and Forecast to 2028 (US$ Million)
Table 10. Rest of MEA: Formwork System Market- By Material Used –Revenue and Forecast to 2028 (US$ Million)
Table 11. List of Abbreviation
LIST OF FIGURES
Figure 1. MEA Formwork System Market Segmentation
Figure 2. MEA Formwork System Market Segmentation – By Country
Figure 3. MEA Formwork System Market Overview
Figure 4. MEA Formwork System Market, by Offering
Figure 5. MEA Formwork System Market, by Material Used
Figure 6. MEA Formwork System Market, By Country
Figure 7. MEA PEST Analysis
Figure 1. MEA Formwork System Market- Ecosystem Analysis
Figure 2. MEA Formwork System Market: Impact Analysis of Drivers and Restraints
Figure 3. MEA Formwork System Market Revenue Forecast and Analysis (US$ Million)
Figure 4. MEA Formwork System Market Revenue Share, by Offering (2020 and 2028)
Figure 5. MEA Solutions: Formwork System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 6. MEA Service: Formwork System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 7. MEA Formwork System Market Revenue Share, by Material Used (2020 and 2028)
Figure 8. MEA Wood: Formwork System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 9. MEA Metal: Formwork System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 10. MEA Others: Formwork System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 11. MEA: Formwork System Market, by Key Country – Revenue 2020 (US$ Million)
Figure 12. MEA: Formwork System Market Revenue Share, By Key Country (2020 and 2028)
Figure 13. South Africa: Formwork System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. Saudi Arabia: Formwork System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 15. UAE: Formwork System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. Rest of MEA: Formwork System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. Impact of COVID-19 Pandemic in MEA Country Markets
- Brand Industrial Services, Inc.
- Doka GmbH
- EFCO Corp
- Encofrados Alsina
- FORSA SA.
- MEVA Schalungs-Systeme GmbH
- MFE Formwork Technology Sdn Bhd
- PASCHAL-Werk G. Maier GmbH
- PERI GmbH
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the MEA 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 the MEA 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 MEA market trends and outlook coupled with the factors driving the formwork system market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution