Formwork System Market Report 2026

The formwork system market size has grown strongly in recent years. It will grow from $7.14 billion in 2025 to $7.58 billion in 2026 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to rising use of prefabricated concrete methods, expansion of global infrastructure projects, increasing reliance on engineered formwork solutions, growth in high-rise construction activity, rising adoption of reusable modular systems.

The formwork system market size is expected to see strong growth in the next few years. It will grow to $9.53 billion in 2030 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to increasing development of automated formwork technologies, rising investment in sustainable construction materials, expansion of digital engineering practices, growth in advanced modular concrete forming systems, increasing integration of robotics in large-scale construction. Major trends in the forecast period include integration of AI-based formwork load analysis, adoption of eco-friendly formwork materials, automation in formwork assembly and dismantling, use of robotics in large-scale concrete operations, expansion of digital construction management platforms.

The growing construction sector is anticipated to drive the expansion of the formwork system market in the coming years. This sector encompasses the planning, design, development, and construction of infrastructure, residential, commercial, and industrial projects. The growth in construction activity is largely attributed to increasing urbanization, as expanding urban populations lead to higher demand for housing, infrastructure, and public services. Formwork systems contribute significantly to this sector by offering dependable molds for shaping concrete structures, ensuring on-site accuracy and safety. They enhance productivity by supporting faster construction cycles and minimizing labor requirements, which improves overall project efficiency. For example, in April 2025, the United States Census Bureau reported that construction spending reached $2.15 trillion in 2024, up from $2.02 trillion in 2023. As a result, the growing construction sector is fueling the growth of the formwork system market.

Leading companies in the formwork system market are concentrating on developing advanced solutions such as modular and automated systems to improve construction efficiency, boost worker safety, and shorten project timelines. Modular formwork systems consist of prefabricated, reusable components that can be quickly assembled and adapted to various structural designs, helping to reduce material waste and labor costs. For instance, in January 2025, PERI SE, a Germany-based manufacturer of formwork and scaffolding systems, introduced the latest generation of MAXIMO, an automated climbing formwork system. This system features an intelligent hydraulic climbing mechanism that allows for self-climbing, significantly decreasing reliance on cranes and manual labor. It is equipped with advanced safety elements, including integrated guardrails and real-time load monitoring, to ensure stability during high-rise construction. The modular design of the system allows it to be rapidly adjusted to different building geometries, thus streamlining the construction process while maintaining accuracy and structural reliability.

In December 2023, PERI SE, a Germany-based formwork manufacturing company, acquired KERN Tunneltechnik SA for an undisclosed amount. This acquisition aims to bolster PERI SE’s capabilities in the tunneling sector by integrating its formwork expertise with KERN’s specialized tunneling solutions. KERN Tunneltechnik SA is a Switzerland-based manufacturer of formwork systems.

Major companies operating in the formwork system market are Waco International Holdings (Pty) Ltd., PERI Group, Brand Safeway Inc., The Heico Companies LLC, Doka GmbH, RMD Kwikform Ltd., ULMA Construction Srl, Alsina Group, Acrow Ltd., MEVA Formwork Systems Inc., Urtim Kalıp ve İskele Sistemleri A.Ş., Zulin Ltd., Moladi (Pty) Ltd., FORSA S.A., Condor S.p.A., EFCO Corp., Outinord Universal Inc., Pilosio S.p.A., MFE Formwork Technology Sdn. Bhd., Acrow Misr for Scaffolding and Formwork S.A.E., Nova Formworks Pvt. Ltd., PASCHAL Group.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs are influencing the formwork system market by raising costs for imported metal components, engineered wood, fasteners, and hydraulic mechanisms used in system manufacturing. Building, transportation, and industrial construction in regions reliant on imported structural materialsparticularly North America, Europe, and Asia-Pacificare most affected. Nevertheless, tariffs are encouraging domestic fabrication, regional timber processing, and innovation in modular, cost-efficient formwork systems, enhancing long-term production stability.

The formwork system market research report is one of a series of new reports that provides formwork system market statistics, including formwork system industry global market size, regional shares, competitors with a formwork system market share, detailed formwork system market segments, market trends and opportunities, and any further data you may need to thrive in the formwork system industry. This formwork system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

A formwork system is a temporary or permanent structure designed to shape and support poured concrete until it hardens and gains sufficient strength to bear its own weight. It is essential for maintaining the intended structural dimensions, alignment, and surface finish during the curing process.

The primary offerings in formwork systems include solutions and services. A solution is a comprehensive, product-based offering designed to address specific challenges in the construction process. Formwork systems can be made from various materials, including wood and metal, and are used in applications such as building construction, transportation infrastructure, industrial facilities, and other projects.North America was the largest region in the formwork system market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in formwork system report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the formwork system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The formwork system market consists of sales of slab formwork systems, column formwork, beam formwork, tunnel formwork, and formwork accessories. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

This product will be delivered within 1-3 business days.