Supporting India's Growth in Infrastructure

Owing to the country's huge construction industry and aggressive infrastructure development initiatives, the formworks and scaffoldings market in India has grown significantly over the last couple of years. With the government still focusing on projects like highways, railways, airports and urban development under programs like the Pradhan Mantri Awas Yojana (PMAY) and Smart Cities Mission, demand for formwork and scaffolding solutions has skyrocketed. India’s construction sector is expected to grow at a compound annual growth rate (CAGR) in excess of six per cent till 2027 making it one of the fastest growing markets in the world. The demand for formwork and scaffolding systems to support structural construction during this rapid expansion is driving the growth of the market. Moreover, the rising intake of high end materials and technologies, such as aluminum and modular formworks, is amplifying the serviceability and cost efficiency of the construction procedures, thereby boosting demand.

Domestic and international key players in the industry are investing in research and development to innovate and bring in products that meet local construction needs and compliance standards. In addition, the trend of prefabricated and reusable scaffolding and formwork solutions has been accelerated, as companies and contractors look to sustainable solutions that lower costs and environmental impact. Yet the sector also has its own problems, including unpredictable raw material costs, a lack of skilled labor, and the requirement of strict compliance with safety standards. To tackle these problems, market participants are investing in training programs for workers and forming strategic partnerships to enhance their operations and offerings of products.

In this special issue, we introduce you to the top companies in this segment. Industry Outlook has identified the select few companies that have done particularly well in this sector with a high level of dedication. We have found that these companies have gone the extra mile in proving their commitment to meet the customer needs in an integrated manner.   

We welcome your feedbacks and suggestion that you may have concerning this special issue.