Global trends in Scaffolding & Formwork market:
Globally, Scaffolding is a $55 billion-plus industry. The USA alone accounts for almost $17 billion in this spend followed by Europe at 12 billion. The Scaffolding industry has been growing steadily at 6.1 per cent YOY on a global basis. This growth is driven by growth in new construction as well as maintenance and refurbishment of existing assets in industrial, infrastructure and commercial building sectors.

India is rapidly becoming a key part of this growth. As per a recent McKinsey report, India will record average GDP growth of 8.5 per cent YOY over the next decade and add 90 million new jobs by 2030. The construction industry alone will contribute 25 per cent of these incremental new jobs. This coupled with the fact that India has traditionally been slow to adopt global best practices for construction speed and safety makes India the fastest growing market for scaffolding and formwork products over the next decade.

Driving factors for Scaffolding & Formwork products in India
Infrastructure: The Government of India has announced spends of about $1.4 trillion for infrastructure development under the NIP for FY19-25. This includes sectors like energy, roads, highways, high-speed rails and urban railways etc. The use of formwork products for all concrete construction is paramount to enable the meeting of this ambitious target. The use of Scaffolding products goes hand in hand with Formwork for meeting the extensive access needs of these demanding projects.

Housing: The Government of India has announced various schemes like Housing for all, Smart City and the most recent ARHC scheme for Affordable housing because of the Covid-19 pandemic. There is expected to be a large investment in Affordable housing both from the Public and Private sector and this again requires system formwork to enable meeting the speed, scale and safety standards required to be followed on these projects.

Manufacturing: The manufacturing sector is expected to contribute 20 per cent of the incremental GDP over the next decade. The role of system scaffolding in large manufacturing industries like steel, aluminium, refineries, power, etc. for undertaking repairs and maintenance on an ongoing basis is paramount.

As the demand for Scaffolding and Formwork grows in India due to the above, it is worthwhile to also understand how the products in this segment have been evolving to meet the increased demands of speed and safety in construction.

Latest trends in Formwork products:
Aluminium Formwork for Monolithic construction: This is a very lightweight formwork system made of high-quality Aluminum with admirable strength to take on the site conditions. This system ensures excellent finish, faster construction and a high number of repetitions. Technocraft’s MACH ONE is a leading system in this category.

Drop Head based slab Formwork for large flat slabs: This is a high octane, high-performance modular panel shoring system with a drop head facility that enables early stripping of decking panels. It offers more erections, stripping and offers better financial satisfaction than the conventional shoring systems. Technocraft’s MACH DECK is a pioneer in this technology and has been in the leading position for over a decade.

Climbing Formwork for high rise towers: This is a very sophisticated formwork system for doing fast construction of lift cores and also for perimeter protection of high rise buildings. Technocraft’s MACH LIFT system has been used to hydraulically lift all the wall forms of a building at a single stroke.

Special formwork for complex infrastructure projects like metros, monorails, high-speed rails, bridges etc. These are high precision, high strength and efficient steel formwork systems which are custom designed and fabricated to give intricate shape while bearing massive loads of concrete structures. Technocraft’s MACH INFRA is a leader in this segment.

Technocraft has been at the forefront of pioneering innovation, manufacturing and distributing the highest quality and most technologically advanced products in Scaffolding and Formwork globally. With our India based manufacturing, we are excited to now leverage our strengths and be a part of the India growth story.  n

For more details, contact:
Navneet Saraf,
CEO,
Technocraft Industries India Limited