Indian Aluminium Formworks Market: Current Analysis and Forecast (2023-2030)

Report Description

The aluminum formworks market is expected to grow at a steady rate of around 4.3%. The growth of the aluminum formwork market in India is being propelled by several key factors such as the country’s rapid urbanization and infrastructure development projects have created a strong demand for efficient and cost-effective construction methods. Aluminum formwork, with its speed and quality advantages, aligns perfectly with these needs. Additionally, increased foreign direct investment in the Indian real estate and construction sectors has encouraged the adoption of modern construction technologies like aluminum formwork. Moreover, investment made by market players is a key factor driving the growth of the market. For instance, in 2021, Tata Steel announced its plans to invest in the aluminum formwork segment, aiming to tap into the market’s potential. This investment demonstrates the confidence of established companies in the growth prospects of aluminum formwork in India.

Some of the major players operating in the market include Winntus Group; Knest; VEDAN INFRA AND PROJECTS PVT LTD; Dec Industries Private Limited; Anshteich Formwork Systems Pvt ltd; Schach Engineers Pvt, Ltd; Prime Steeltech (I) Pvt. Ltd; Razon Engineering Company Private Limited.; Oxygreen; Albraco, MFE Formwork Technology (India) Pvt. Ltd, Doka India Pvt. Ltd, Meva, Forming Access and Support Inc, ALTRAD RMD Kwikform, LAYHER SCAFFOLDING SYSTEMS PVT LTD, Navnirman, Technocraft Industries Limited Company, Peri India Pvt Ltd., and Paschal Form Work Private Limited.. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Based on the size of the panel, the aluminium formworks market is segmented into Up to 5 meters, 5.1 to 10 meters, and Above 10 meters. Among these, the up to 5 meters segment is expected to hold a considerable share of the market during the forecast period.”

Based on the size of the panel, the aluminium formworks market is segmented into Up to 5 meters, 5.1 to 10 meters, and Above 10 meters. Among these, the up to 5 meters segment is expected to hold a considerable share of the market during the forecast period. Panels up to 5 meters are commonly adopted for smaller-scale projects and where flexibility in formwork layout is needed. These panels are easier to handle, transport, and assemble, making them suitable for residential and low-rise commercial buildings.

“Based on material, the aluminum formworks market is segmented into 6061-T6, 6063-T6, and 6082-T6. Among them, the 6061-T6 segment is expected to hold a significant market share during the forecast period.”

Based on material, the aluminum formworks market is segmented into 6061-T6, 6063-T6, and 6082-T6. Among them, the 6061-T6 segment is expected to hold a significant market share during the forecast period. The adoption of 6061-T6 aluminum alloy in the production of aluminum formworks is driven by several compelling factors. As 6061-T6 is renowned for its exceptional strength-to-weight ratio. This alloy offers outstanding structural integrity while remaining lightweight, making it ideal for formwork applications. Its high tensile strength and resistance to corrosion further enhance its suitability for long-term use in construction projects.

“Western India is expected to hold the highest market share of the market during the forecast period.”

Western India is expected to dominate the valve market during the forecast period. The adoption of aluminum formworks in Western India has been on a steady rise, driven by the region’s booming construction industry and the numerous advantages offered by this advanced construction technology. One notable instance that exemplifies this trend is Larsen & Toubro’s (L&T) investment in a state-of-the-art aluminum formwork manufacturing unit in Gujarat in 2021. This significant investment by one of India’s leading construction and engineering conglomerates underscores the growing recognition of aluminum formwork’s efficiency and cost-effectiveness in Western India. As urbanization and infrastructure development continue to surge in cities like Mumbai, Pune, and Ahmedabad, the speed, precision, and sustainability benefits of aluminum formworks make them an ideal choice for construction projects in this dynamic region, further fueling their adoption and shaping the future of construction in Western India.

India Aluminium Formworks Market Report Coverage

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The India aluminium formworks Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to contact us to get a report that completely suits your requirements.

You can also purchase parts of this report. Do you want to check out a section wise
price list?

Get in touch with team

Research Methodology

Research Methodology for the India Aluminium Formworks Market Analysis (2023-2030)

Analyzing the historical market, estimating the current market, and forecasting the future market of the India aluminium formworks Market were the three major steps undertaken to create and analyze the adoption of valves in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the India aluminium formworks Market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the India aluminium formworks Market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the India aluminium formworks market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as material, components, and size of panel. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the India aluminium formworks Market. Further, we conducted factor analysis using dependent and independent variables such as material, components, and size of panels of the India aluminium formworks Market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the India aluminium formworks market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the India aluminium formworks market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the India aluminium formworks Market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the India aluminium formworks Market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Countries

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the India aluminium formworks market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the material, components, and size of panels in the India aluminium formworks Market.

The main objective of the Indian Aluminium Formworks Market Study

The current & future market trends of the India aluminium formworks market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the Indian aluminium formworks Market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments.
• Segments in the study include areas of the material, components, and size of panels.
• Define and analysis of the regulatory framework for the manufacturing
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the Indian aluminium formworks Market for the major region.
• Major countries studied in the report include Northern India, Southern India, Eastern India, and Western India.
• Company profiles of the India aluminium formworks Market and the growth strategies adopted by the market players to sustain in the fast-growing market.
• Deep dive regional level analysis of the industry.

You can also purchase parts of this report. Do you want to check out a section wise
price list?

Get in touch with team