Global Formwork
Market Report
2025
Formwork market size is USD 5915.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 2.60% from 2024 to 2031.
The base year for the calculation is 2024 and 2021 to 2024 will be historical period. The year 2025 will be estimated one while the forecasted data will be from year 2025 to 2033. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global formwork market size is USD 5915.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 2.60% from 2024 to 2031.
2019 | 2024 | 2025 | 2032 | 2033 | CAGR | |
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Global Formwork Market Sales Revenue | 121212 | $ 5915.2 Million | 121212 | 121212 | 121212 | 2.6% |
North America Formwork Market Sales Revenue | 121212 | $ 2366.08 Million | 121212 | 121212 | 121212 | 0.8% |
Europe Formwork Market Sales Revenue | 121212 | $ 1774.56 Million | 121212 | 121212 | 121212 | 1.1% |
Asia Pacific Formwork Market Sales Revenue | 121212 | $ 1360.5 Million | 121212 | 121212 | 121212 | 4.6% |
South America Formwork Market Sales Revenue | 121212 | $ 295.76 Million | 121212 | 121212 | 121212 | 2% |
Middle East and Africa Formwork Market Sales Revenue | 121212 | $ 118.3 Million | 121212 | 121212 | 121212 | 2.3% |
Base Year | 2024 |
Historical Data Time Period | 2021-2024 |
Forecast Period | 2025-2033 |
Market Split by Type |
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Market Split by Application |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Report scope is customizable as we have a huge database of Formwork industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
Formwork Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Formwork in construction refers to the temporary or permanent moulds or structures used to support and shape concrete or other materials until they harden and acquire the desired shape and strength. It provides the necessary support for concrete during pouring, curing, and setting phases, ensuring that the structural elements maintain their intended shape and dimensions. Formwork systems vary in complexity and material, ranging from traditional timber formwork to modern prefabricated systems made of steel, aluminium, or plastic. Effective formwork is crucial for achieving precise, durable, and aesthetically pleasing concrete structures, making it an essential component in construction projects worldwide.
On-going technological advancements in formwork systems are poised to increase sales within the market. Innovations such as modular designs, digitalization, and automation streamline construction processes, enhancing efficiency and productivity. Advanced formwork systems offer features like precise measurement tools, remote monitoring capabilities, and real-time data analysis, improving accuracy and reducing errors. Moreover, the integration of sustainable materials and practices in formwork manufacturing aligns with growing environmental consciousness, appealing to eco-conscious buyers. These advancements not only boost the appeal of formwork systems but also cater to the evolving needs of the construction industry, driving sales by offering superior performance, reliability, and cost-effectiveness.
In June 2023, Doka formwork and engineering solutions has delivered a 900-meter central cable-stayed bridge alongside highway approaches. Spanning 2.5 kilometres in length, the four-lane bridge, measuring 29.6 meters wide, also comprises 3.5 kilometres of retaining walls and a 1.42-kilometer approach on both ends.
(Source: https://www.doka.com/in/news/press/dwarka-bridge)
Increasing urbanization worldwide is a significant driver poised to boost formwork sales globally. As populations continue to migrate from rural to urban areas, there's a growing demand for residential, commercial, and infrastructure construction. Urbanization drives the need for new housing, office spaces, retail centres, and transportation networks, all of which require efficient formwork solutions for concrete construction. Moreover, urban areas often face space constraints, leading to a rise in vertical construction projects such as high-rise buildings and skyscrapers, which further escalates the demand for formwork systems capable of supporting tall structures. This trend is particularly pronounced in emerging economies where rapid urbanization is occurring at an unprecedented pace. Therefore, formwork manufacturers and suppliers stand to benefit from this global urbanization trend by catering to the increasing construction needs in urban environments.
Government investments in infrastructure projects play a pivotal role in propelling the formwork market forward. Across the globe, governments are allocating significant budgets to improve and expand infrastructure such as roads, bridges, railways, airports, and utilities. These investments are driven by the need to enhance transportation networks, support economic growth, and address aging infrastructure. Formwork systems are essential components in the construction of infrastructure projects, providing the moulds and support structures needed for concrete placement. With increased government funding, there is a surge in construction activity, leading to higher demand for formwork solutions. Moreover, infrastructure projects often require durable and versatile formwork systems capable of withstanding heavy loads and accommodating complex designs. As a result, formwork manufacturers and suppliers are poised to benefit from the opportunities presented by government-backed infrastructure investments, driving growth in the market.
Shortages in skilled labor for formwork installation present a significant constraint on sales within the market. The intricate nature of formwork systems requires specialized expertise for proper setup, adjustment, and dismantling. However, the construction industry is facing a shortage of skilled workers, including formwork installers, which can lead to project delays, increased labor costs, and compromised quality. The lack of adequately trained personnel not only limits the capacity of contractors to take on projects but also hampers the efficient utilization of formwork systems, hindering market growth. Addressing this shortage through training programs, apprenticeships, and recruitment efforts is essential to alleviate the impact on sales and ensure the smooth operation of formwork projects.
The COVID-19 pandemic has had a significant negative impact on the formwork market. Lockdowns, supply chain disruptions, and project delays have severely hampered construction activities worldwide. Social distancing measures and safety protocols have slowed down work on construction sites, leading to reduced demand for formwork systems. Moreover, the economic downturn resulting from the pandemic has caused many construction projects to be postponed or canceled, further reducing the need for formwork. Additionally, the uncertainty surrounding the duration and severity of the pandemic has made contractors and developers cautious about investing in new projects, affecting the sales of formwork equipment and services. Overall, the COVID-19 crisis has created challenges for the formwork market, resulting in decreased sales and revenue across the industry.
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The competitive landscape of the formwork market is characterized by a diverse range of suppliers offering various formwork solutions. Competition intensifies as companies strive to innovate and differentiate their products through factors such as technology, material quality, cost-effectiveness, and customer service to gain market share.
Top Companies Market Share in Formwork Industry: (In no particular order of Rank)
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According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue due to robust construction activities in sectors like residential, commercial, and infrastructure. The region benefits from a stable economy, government investments in infrastructure projects, and favourable regulations promoting sustainable construction practices. Additionally, advancements in formwork technology and materials drive market growth, while stringent safety standards enhance confidence in formwork systems. The presence of key players with a focus on innovation and customer-centric solutions further propels sales in the region, catering to diverse construction needs and ensuring sustained market dominance.
Asia-Pacific is the fastest-growing region due to rapid urbanization, population growth, and significant investments in infrastructure development. Countries like China, India, and Southeast Asian nations witness extensive construction activities driven by urban expansion, industrialization, and government initiatives. Moreover, rising disposable incomes, increasing urban migration, and a burgeoning middle class stimulate demand for residential and commercial buildings, boosting formwork sales. Furthermore, technological advancements, such as prefabricated and modular formwork solutions, cater to the region's dynamic construction landscape, driving adoption and fuelling market growth.
The current report Scope analyzes Formwork Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
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As per the current market study, out of xxxx Million USD global market revenue 2025, North America market holds xx% of the market share. The North America Formwork industry grew from xxxx Million USD in 2021 to xxxx Million USD in 2025 and will record xx% growth. In coming future this industry will reach xxxx Million by 2033 with a xx% CAGR.
According to Cognitive Market Research, the global formwork market size was estimated at USD 5915.2 Million out of which North America held the major market of around 40% of the global revenue with a market size of USD 2366.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 0.8% from 2024 to 2031. Sales of formwork are poised to increase in North America due to a resurgence in infrastructure spending, driven by government initiatives to revitalize aging transportation networks and address climate resilience. Additionally, the rise in urbanization and the demand for sustainable construction practices fuel the adoption of advanced formwork systems, such as recyclable materials and energy-efficient designs. The residential sector, especially high-rise construction, will witness substantial growth, with aluminium formwork emerging as the highest market share segment. Its lightweight yet durable properties make it ideal for meeting the demands of urban development and sustainable construction practices in the region.
Country Analysis
As per the current market study, out of xxxx Million USD global market revenue 2025, Europe market holds xx% of the market share. The Europe Formwork industry grew from xxxx Million USD in 2021 to xxxx Million USD in 2025 and will record xx% growth. In coming future this industry will reach xxxx Million by 2033 with a xx% CAGR.
According to Cognitive Market Research, with a market value of USD 5915.2 million in 2024 and projected to expand at a compound annual growth rate (CAGR) of 1.1% from 2024 to 2031. Europe accounted for a share of around 30% of the global market size of USD 1774.56 million. Formwork sales in Europe are set to increase due to a focus on sustainable construction practices and stringent regulations promoting energy efficiency. The demand for formwork systems capable of meeting green building standards drives innovation in materials and technology, such as eco-friendly formwork solutions and digitalization for enhanced efficiency. Moreover, the revival of infrastructure projects across the region, coupled with investments in residential and commercial construction, propels market growth. Aluminium formwork holds the highest market share segment in Europe, favoured for its sustainability features and suitability for various construction applications, contributing to its continued growth in the region.
As per the current market study, out of xxxx Million USD global market revenue 2025, Asia Pacific market holds xx% of the market share. The Asia Pacific Formwork industry grew from xxxx Million USD in 2021 to xxxx Million USD in 2025 and will record xx% growth. In coming future this industry will reach xxxx Million by 2033 with a xx% CAGR.
According to Cognitive Market Research, the global formwork market size was estimated at USD 5915.2 Million out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 1360.50 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.6% from 2024 to 2031. The adoption of advanced formwork technologies, including prefabricated systems and digital solutions, accelerates construction timelines and improves project efficiency. Additionally, the increasing focus on disaster resilience and sustainable urban development spurs the demand for formwork systems that can withstand seismic activity and mitigate environmental impacts. Steel formwork emerges as the highest market share segment in Asia Pacific, valued for its strength and adaptability in supporting large-scale infrastructure projects and high-rise construction in earthquake-prone regions.
As per the current market study, out of xxxx Million USD global market revenue 2025, South America market holds xx% of the market share. The South America Formwork industry grew from xxxx Million USD in 2021 to xxxx Million USD in 2025 and will record xx% growth. In coming future this industry will reach xxxx Million by 2033 with a xx% CAGR.
According to Cognitive Market Research, the global formwork market size was estimated at USD 5915.2 Million out of which Latin America market of around 5% of the global revenue with a market size of USD 295.76 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.0% from 2024 to 2031. Formwork sales in Latin America are on the rise due to urbanization, economic growth, and a resurgence in infrastructure investments. Governments' efforts to improve transportation networks and build resilient cities drive demand for formwork systems capable of withstanding seismic activity and extreme weather conditions. Moreover, the growing emphasis on sustainable construction practices fuels the adoption of eco-friendly formwork materials and technologies. Aluminium formwork dominates as the highest market share segment in Latin America, valued for its versatility, durability, and cost-effectiveness in meeting the region's construction needs and sustainability goals.
As per the current market study, out of xxxx Million USD global market revenue 2025, Middle East and Africa market holds xx% of the market share. The Middle East and Africa Formwork industry grew from xxxx Million USD in 2021 to xxxx Million USD in 2025 and will record xx% growth. In coming future this industry will reach xxxx Million by 2033 with a xx% CAGR.
According to Cognitive Market Research, the global formwork market size was estimated at USD 5915.2 Million out of which Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 118.30 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.3% from 2024 to 2031. The MEA region will witness an increase in formwork sales fuelled by mega-infrastructure projects, urbanization, and population growth. Investments in transportation, energy, and tourism infrastructure drive demand for formwork systems capable of delivering efficient and durable construction solutions. Additionally, the focus on smart city development and sustainable urbanization propels the adoption of advanced formwork technologies and materials. Steel formwork emerges as the highest market share segment in the MEA region, valued for its strength, durability, and suitability for supporting large-scale infrastructure projects and iconic architectural designs in the region's dynamic construction landscape.
Global Formwork Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Formwork Industry growth. Formwork market has been segmented with the help of its Type, Application , and others. Formwork market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
According to Cognitive Market Research, aluminium formwork held the major market share over the forecast period due to its lightweight design, ease of handling, and faster construction cycles, appealing to contractors seeking efficiency and cost-effectiveness. Additionally, aluminium's corrosion resistance and durability make it suitable for various construction environments, driving its widespread adoption. Moreover, the increasing trend towards sustainable construction practices favours aluminium formwork systems, which offer recyclability and reduced environmental impact, further contributing to sales growth.
Steel formwork is the fastest-growing category over the forecast period, owing to its strength, versatility, and suitability for large-scale projects. Steel's robustness allows it to withstand heavy loads and provide precise formwork for complex structures, attracting contractors undertaking infrastructure and commercial projects. Furthermore, advancements in steel formwork technology, such as modular and adjustable systems, enhance efficiency and productivity on construction sites, driving sales growth. The durability and long-term cost-effectiveness of steel formwork further bolster its appeal in the market.
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According to Cognitive Market Research, residential buildings hold a prominent market share due to increasing urbanization, population growth, and rising demand for housing. Formwork systems tailored for residential projects offer efficiency, cost-effectiveness, and versatility, catering to the diverse needs of developers and contractors. Moreover, government initiatives promoting affordable housing and incentives for homeownership stimulate construction activity in the residential sector, driving sales of formwork systems.
Commercial buildings is the fastest-growing category over the forecast period due to expanding business activities, urbanization, and infrastructure development. Demand for office spaces, retail centres, and hospitality facilities fuels construction in the commercial sector, boosting sales of formwork systems. Additionally, advancements in architectural designs and technologies drive the need for specialized formwork solutions capable of accommodating complex structures and meeting stringent quality standards, further propelling market growth.
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Disclaimer:
Type | Timber Formwork, Steel Formwork, Aluminum Formwork, Other |
Application | Residential Buildings, Commercial Buildings, Bridges, Others |
List of Competitors | BEIS, PERI, Doka, ULMA, Acrowmisr, PASCHAL, Strabag, Acrow, NOE, RMD Kwikform, Alsina, Intek, Zulin, Hankon, Faresin, Waco International, Taihang, MFE, Interfirm, Mascon, GCS, Mesa Impala, MEVA, Condor, Pelosi, Urtim, Lawyer, Alpi SEA, Wall-Ties & Forms, Xingang Group |
This chapter will help you gain GLOBAL Market Analysis of Formwork. Further deep in this chapter, you will be able to review Global Formwork Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
This chapter will help you gain North America Market Analysis of Formwork. Further deep in this chapter, you will be able to review North America Formwork Market Split by various segments and Country Split.
Chapter 2 North America Market Analysis
This chapter will help you gain Europe Market Analysis of Formwork. Further deep in this chapter, you will be able to review Europe Formwork Market Split by various segments and Country Split.
Chapter 3 Europe Market Analysis
This chapter will help you gain Asia Pacific Market Analysis of Formwork. Further deep in this chapter, you will be able to review Asia Pacific Formwork Market Split by various segments and Country Split.
Chapter 4 Asia Pacific Market Analysis
This chapter will help you gain South America Market Analysis of Formwork. Further deep in this chapter, you will be able to review South America Formwork Market Split by various segments and Country Split.
Chapter 5 South America Market Analysis
This chapter will help you gain Middle East and Africa Market Analysis of Formwork. Further deep in this chapter, you will be able to review Middle East and Africa Formwork Market Split by various segments and Country Split.
Chapter 6 Middle East and Africa Market Analysis
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Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
This chapter provides an in-depth analysis of the market share among key competitors of Formwork. The analysis highlights each competitor's position in the market, growth trends, and financial performance, offering insights into competitive dynamics, and emerging players.
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
This chapter would comprehensively cover market drivers, trends, restraints, opportunities, and various in-depth analyses like industrial chain, PESTEL, Porter’s Five Forces, and ESG, among others. It would also include product life cycle, technological advancements, and patent insights.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2021 - 2033
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Application Analysis 2021 - 2033
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Formwork market
Chapter 12 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Timber Formwork have a significant impact on Formwork market? |
What are the key factors affecting the Timber Formwork and Steel Formwork of Formwork Market? |
What is the CAGR/Growth Rate of Residential Buildings during the forecast period? |
By type, which segment accounted for largest share of the global Formwork Market? |
Which region is expected to dominate the global Formwork Market within the forecast period? |
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