Europe Formwork System Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Offering (Solutions and Service) and Material Used (Wood, Metal, and Others)

Wood Segment to Dominate Europe Formwork System Market during 2020-2028.

According to a new market research study on “Europe Formwork System Market to 2028 - COVID-19 Impact and Regional Analysis and Forecast by Offering and Material Used” is expected to reach US$ 1,739.64 million by 2028 from US$ 1,330.51 million in 2021. The market is estimated to grow at a CAGR of 3.9% from 2021 to 2028. The report provides trends prevailing in the Europe formwork system market along with the drivers and restraints pertaining to the market growth. Rising application of wood formwork is the major factor driving the growth of the Europe formwork system market. However, issues associated with low construction projects in developing countries, hinders the growth of Europe formwork system market.

The Europe formwork system market is segmented into offering and material used. Based on offering, the Europe formwork system market is segmented into solutions, services. The solutions segment held the largest market share in 2020. Based on material used, the Europe formwork system market is segmented into wood, metal, others. The wood formwork segment dominated the market in 2020.

In Europe, Russia is the hardest-hit country by the COVID-19 outbreak, followed by the UK and others. Majority of European countries are expected to suffer an economic hit due to a lack of revenue from various industries, as these countries record the highest number of COVID-19 cases and deaths in the past year. Due to business lockdowns, travel bans, and supply chain disruptions, the region is most likely to face an economic slowdown in 2021. The construction industry in Europe suffered its one of the biggest drops in activities after the building sites were closed, and the supply of safety equipment and workers were disrupted due to the pandemic. The drop in the construction activities in the region has directly affected the sales of the formwork solutions in Europe. Owing to the decline in construction, the formwork system market will witness an abrupt downturn in the year 2021, however, a slow recovery will be witnessed in next year, and normalization is expected to start by 2022.

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 are among the leading companies in the Europe formwork system market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Acropol group is acquired by MEVA Schalungs-Systeme GmbH. Meva will gain additional distribution prospects in European countries as a result of the takeover.

The report segments the Europe Formwork System Market follows:

Europe Formwork System Market - By Offering

• Solutions
• Service

Europe Formwork System Market - By Material Used

• Wood
• Metal
• Others

Europe Formwork System Market - By Country

• France
• Germany
• Italy
• UK
• Russia
• Rest of Europe

Reasons to buy:

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Europe 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 Europe 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 Europe 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