LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global construction scaffolding rental market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The research report by Technavio on the global construction scaffolding rental market for 2017-2021 provides detailed segmentation based on application (new construction, refurbishment, demolition, and industrial applications), product (supported, suspended, and mobile scaffolding), end-user (residential, infrastructure, and non-residential), and geography (APAC, the Americas, and EMEA).
|Technavio analysts forecast the global construction scaffolding rental market size to reach USD 9.42 billion by 2021, growing at a CAGR of over 5%. Supported scaffolding is the most popular product segment, responsible for generating over 80% of the total market revenue.|
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The top three emerging trends driving the global construction scaffolding rental market according to Technavio heavy industry research analysts are:
- Developing new services completing rental offer
- Adoption of new technologies
- Improved efficiency in productivity and safety
Developing new services completing rental offer
“Construction companies are seeking for a one-stop solution to all their equipment requirements, which has led to the consolidation in the construction rental industry to expand their product offerings and increase their geographical presence,” says Likhitha Bandla, one of the lead analysts at Technavio for construction research.
Currently, many rental companies are providing services such as designing of scaffolding systems, inspection, and compliance, alongside renting traditional scaffolding equipment. For instance, Celtic Scaffolding provides scaffolding design for complex projects, equipment rental as well as provides inspection at the site for adherence to regulations. This trend is expected to increase the popularity of the rental services, thereby driving market growth.
Adoption of new technologies
Rental companies are adopting emerging technologies such as enterprise resource planning (ERP) systems to improve the customer experience and improve the efficiency of their services. New companies such as erento.co.uk and bigrentz.com, which have facilities to rent equipment online are witnessing rapid expansion. Additionally, many rental companies use sophisticated design and simulation tools to provide a cost-effective scaffolding structure for the client to simulate the possible various danger scenarios. These solutions are appealing to the customers, who opt for vendors capable of providing such value-added offerings.
Improved efficiency in productivity and safety
“Serious market dynamics drive contractors in the construction industry to seek quick development times without trading off the quality or expanding the expenses. This circumstance has paved the way for presenting powerful instruments and practices capable of accomplishing a significant lessening in the process duration,” says Likhitha.
Time is a crucial factor in construction projects, and rental companies are attempting to reduce the lead times and decrease the time of scaffolding erection, thereby reducing indirect and overhead expenses. Additionally, many rental companies are recycling their old scaffolding stock to improve the safety of the equipment.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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