India Aluminum Formwork System Market Size and Forecasts (2019 - 2028), Regional Share, Trends, and Growth Opportunity Analysis By Offering (Solution and Services); Type (Slab Formwork, Wall Formwork, Corner Formwork, Beam Formwork and Others); and Application (Industrial, Commercial and Residential)
The India aluminium formwork system market was valued at US$ 538.5 million in 2022 and is projected to reach US$ 733.9 million by 2028; it is expected to grow at a CAGR of 5.3% during 2022–2028.
Rising government investments in developing residential projects and various programs to make housing affordable drive the aluminium formwork system market in India. For instance, the Ministry of Housing & Urban Affairs (MoHUA) launched the Affordable Rental Housing Complexes (ARHCs) scheme in 2020 for urban migrants. All such initiatives are driving the aluminium formwork system market share.
In 2015, the Indian government launched the Pradhan Mantri Awas Yojana to boost the affordability of houses which was active till March, 2022. In addition, due to favorable Foreign Direct Investment policies, the investments in construction projects increased, ultimately expanding the residential construction sector. Thus, the favorable government policies are driving the aluminium formwork system market growth.
As per the data published by the government, the construction sector attracted US$ 51.5 billion in Foreign Direct Investment (FDI) from 2020 to 2021. The aluminum formwork has played a significant role in residential construction in India by reducing the cost and time taken for completion. As per the government officials, the aluminum formwork was extensively used to complete the Pradhan Mantri Awas Yojana scheme initiated by the government. This has led to increased awareness and adoption of the product. Thus, with increased housing demand, government programs, and the need for an efficient construction process, the adoption of aluminum formwork increased, ultimately driving the aluminium formwork system market.
Increasing environmental awareness has led many developed and developing countries to adopt sustainable practices in almost every sector. India has launched numerous programs to increase awareness and adoption of sustainable practices. Due to the continuous growth in the industrial and construction sector, the nation's carbon emissions are rising. As per the Center on Global Energy Policy data in 2022, India's carbon emissions in 2021 was 2.7 billion metric ton from 2.38 billion metric ton in 2016. In addition, India was ranked third in the world regarding carbon emissions in 2022. Thus, rising environmental concerns are bolstering aluminium formwork system market share.
The construction industry in India is projected to surpass US$ 1.4 trillion by 2025, as per the data provided by the government. Growth in the construction sector is expected to increase carbon emissions notably. Thus, the Indian government has taken numerous initiatives such as responsible disposal of Construction and Demolition (C&D) waste material, Green Rating for Integrated Habitat Assessment (GRIHA), and Leadership in Energy and Environmental Design (LEED) certification to promote sustainable construction in recent years. As a result, the demand for sustainable construction materials is increasing, thus, positively, affecting the growth of the aluminium formwork system market. Aluminum formwork is a green alternative as it is 100% recyclable. This means that using aluminum formwork instead of using non-renewable resources such as timber in construction projects helps to lower the carbon footprint. Moreover, using recycled aluminum for formwork can help minimize expenses and environmental impact, thus driving the aluminium formwork system market growth.
Cosmos Construction Machineries and Equipments Pvt Ltd, Ihita Engineering Services Pvt Ltd, Knest Manufacturers LLP, Sammok S-Form Co Ltd, Technocraft Industries (India) Ltd, Nova Formworks Pvt Ltd, MFE Formwork Technology Sdn Bhd, Winntus Formwork Pvt Ltd, Rudra Aluminium Pvt Ltd, Vaba Aluminium, and PERI India Pvt Ltd are among the key India aluminium formwork system market players profiled during the market study. In addition, several other important India aluminium formwork system market players operating in the ecosystem were studied and analyzed during this market research study to get a holistic overview of the market.
Rising government investments in developing residential projects and various programs to make housing affordable drive the aluminium formwork system market in India. For instance, the Ministry of Housing & Urban Affairs (MoHUA) launched the Affordable Rental Housing Complexes (ARHCs) scheme in 2020 for urban migrants. All such initiatives are driving the aluminium formwork system market share.
In 2015, the Indian government launched the Pradhan Mantri Awas Yojana to boost the affordability of houses which was active till March, 2022. In addition, due to favorable Foreign Direct Investment policies, the investments in construction projects increased, ultimately expanding the residential construction sector. Thus, the favorable government policies are driving the aluminium formwork system market growth.
As per the data published by the government, the construction sector attracted US$ 51.5 billion in Foreign Direct Investment (FDI) from 2020 to 2021. The aluminum formwork has played a significant role in residential construction in India by reducing the cost and time taken for completion. As per the government officials, the aluminum formwork was extensively used to complete the Pradhan Mantri Awas Yojana scheme initiated by the government. This has led to increased awareness and adoption of the product. Thus, with increased housing demand, government programs, and the need for an efficient construction process, the adoption of aluminum formwork increased, ultimately driving the aluminium formwork system market.
Increasing environmental awareness has led many developed and developing countries to adopt sustainable practices in almost every sector. India has launched numerous programs to increase awareness and adoption of sustainable practices. Due to the continuous growth in the industrial and construction sector, the nation's carbon emissions are rising. As per the Center on Global Energy Policy data in 2022, India's carbon emissions in 2021 was 2.7 billion metric ton from 2.38 billion metric ton in 2016. In addition, India was ranked third in the world regarding carbon emissions in 2022. Thus, rising environmental concerns are bolstering aluminium formwork system market share.
The construction industry in India is projected to surpass US$ 1.4 trillion by 2025, as per the data provided by the government. Growth in the construction sector is expected to increase carbon emissions notably. Thus, the Indian government has taken numerous initiatives such as responsible disposal of Construction and Demolition (C&D) waste material, Green Rating for Integrated Habitat Assessment (GRIHA), and Leadership in Energy and Environmental Design (LEED) certification to promote sustainable construction in recent years. As a result, the demand for sustainable construction materials is increasing, thus, positively, affecting the growth of the aluminium formwork system market. Aluminum formwork is a green alternative as it is 100% recyclable. This means that using aluminum formwork instead of using non-renewable resources such as timber in construction projects helps to lower the carbon footprint. Moreover, using recycled aluminum for formwork can help minimize expenses and environmental impact, thus driving the aluminium formwork system market growth.
Cosmos Construction Machineries and Equipments Pvt Ltd, Ihita Engineering Services Pvt Ltd, Knest Manufacturers LLP, Sammok S-Form Co Ltd, Technocraft Industries (India) Ltd, Nova Formworks Pvt Ltd, MFE Formwork Technology Sdn Bhd, Winntus Formwork Pvt Ltd, Rudra Aluminium Pvt Ltd, Vaba Aluminium, and PERI India Pvt Ltd are among the key India aluminium formwork system market players profiled during the market study. In addition, several other important India aluminium formwork system market players operating in the ecosystem were studied and analyzed during this market research study to get a holistic overview of the market.
1. INTRODUCTION
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. EXECUTIVE SUMMARY
2.1 Key Insights
2.2 Market Attractiveness, By Type
3. RESEARCH METHODOLOGY
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. ALUMINIUM FORMWORK SYSTEM MARKET LANDSCAPE
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 Raw Material Suppliers:
4.3.2 Aluminium Formwork Manufacturers:
4.3.3 End-users:
4.3.4 List of Aluminium Formwork System Suppliers
4.3.5 Premium Insights
5. ALUMINIUM FORMWORK SYSTEM MARKET - KEY INDUSTRY DYNAMICS
5.1 Aluminium Formwork System Market - Key Industry Dynamics
5.2 Market Drivers
5.2.1 Increased Demand for Residential Construction Projects
5.2.2 Improved Functional Performance and Capabilities
5.2.3 Rising Development of the Industrial Projects
5.3 Market Restraints
5.3.1 Presence of Several Substitute Material Based Products
5.3.2 High Costs associated with Aluminum Formwork systems
5.4 Market Opportunities
5.4.1 Growing Infrastructure Development Projects with Government Support and Initiatives
5.5 Future Trends
5.5.1 Growing Adoption of Sustainable Construction Practices
5.5.2 Rising Need for Modular Formwork for High Rise Construction
5.6 Impact of Drivers and Restraints:
6. ALUMINIUM FORMWORK SYSTEM MARKET - INDIA MARKET ANALYSIS
6.1 India Aluminium Formwork System Market Revenue (US$ Million), 2022 – 2030
6.2 Aluminium Formwork System Market Forecast and Analysis
6.3 Global Aluminium Formwork System Market Revenue (US$ Million), 2022 – 2030
6.4 Global Aluminium Formwork System Market Forecast and Analysis
6.5 India Formwork System Market Import and Export Share (%), 2022
6.6 India Formwork System Market Import and Export Values (US$ Million), 2022
6.7 India Formwork System Market Import and Export Values (US$ Million), 2022
7. ALUMINIUM FORMWORK SYSTEM MARKET ANALYSIS - OFFERING
7.1 Solutions
7.1.1 Overview
7.1.2 Solutions Market, Revenue and Forecast to 2030 (US$ Million)
7.1.3 Services
7.1.3.1 Overview
7.1.3.2 Services Market, Revenue and Forecast to 2030 (US$ Million)
8. ALUMINIUM FORMWORK SYSTEM MARKET ANALYSIS – TYPE
8.1 Slab Formwork
8.1.1 Overview
8.1.2 Slab Formwork Market Revenue, and Forecast to 2030 (US$ Million)
8.2 Wall Formwork
8.2.1 Overview
8.2.2 Wall Formwork Market Revenue, and Forecast to 2030 (US$ Million)
8.3 Corner Formwork
8.3.1 Overview
8.3.2 Corner Formwork Market Revenue, and Forecast to 2030 (US$ Million)
8.4 Beam Formwork
8.4.1 Overview
8.4.2 Beam Formwork Market Revenue, and Forecast to 2030 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others Formwork Market Revenue, and Forecast to 2030 (US$ Million)
9. ALUMINIUM FORMWORK SYSTEM MARKET ANALYSIS – APPLICATION
9.1 Industrial
9.1.1 Overview
9.1.2 Industrial Market Revenue, and Forecast to 2030 (US$ Million)
9.2 Residential
9.2.1 Overview
9.2.2 Residential Market Revenue, and Forecast to 2030 (US$ Million)
9.3 Commercial
9.3.1 Overview
9.3.2 Commercial Market Revenue, and Forecast to 2030 (US$ Million)
10. ALUMINIUM FORMWORK SYSTEM MARKET – IMPACT OF COVID-19 PANDEMIC
10.1 Pre & Post Covid-19 Impact
10.2 Pre & Post Covid-19 Impact
11. COMPETITIVE LANDSCAPE
11.1 Heat Map Analysis by Key Players
11.2 Company Positioning & Concentration
11.3 Company Market Share Analysis, 2022
12. INDUSTRY LANDSCAPE
12.1 Overview
12.2 Market Initiative
12.3 Product Development
12.4 Mergers & Acquisitions
13. COMPANY PROFILES
13.1 Cosmos Construction Machineries And Equipments Pvt Ltd
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 IHITA FORMWORKS
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Knest Manufacturers LLP
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Sammok S-Form Co Ltd
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Technokraft industries (India) private Ltd.
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 MFE Formwork Technology Sdn Bhd
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Winntus Formwork Pvt Ltd
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Rudra Aluminium Formwork System (RAFS)
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Nova Formworks Pvt Ltd
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 PERI India Pvt Ltd
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
13.11 Vaba Aluminium
13.11.1 Key Facts
13.11.2 Business Description
13.11.3 Products and Services
13.11.4 Financial Overview
13.11.5 SWOT Analysis
13.11.6 Key Developments
14. APPENDIX
14.1 About The Insight Partners
14.2 Word Index
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. EXECUTIVE SUMMARY
2.1 Key Insights
2.2 Market Attractiveness, By Type
3. RESEARCH METHODOLOGY
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. ALUMINIUM FORMWORK SYSTEM MARKET LANDSCAPE
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 Raw Material Suppliers:
4.3.2 Aluminium Formwork Manufacturers:
4.3.3 End-users:
4.3.4 List of Aluminium Formwork System Suppliers
4.3.5 Premium Insights
5. ALUMINIUM FORMWORK SYSTEM MARKET - KEY INDUSTRY DYNAMICS
5.1 Aluminium Formwork System Market - Key Industry Dynamics
5.2 Market Drivers
5.2.1 Increased Demand for Residential Construction Projects
5.2.2 Improved Functional Performance and Capabilities
5.2.3 Rising Development of the Industrial Projects
5.3 Market Restraints
5.3.1 Presence of Several Substitute Material Based Products
5.3.2 High Costs associated with Aluminum Formwork systems
5.4 Market Opportunities
5.4.1 Growing Infrastructure Development Projects with Government Support and Initiatives
5.5 Future Trends
5.5.1 Growing Adoption of Sustainable Construction Practices
5.5.2 Rising Need for Modular Formwork for High Rise Construction
5.6 Impact of Drivers and Restraints:
6. ALUMINIUM FORMWORK SYSTEM MARKET - INDIA MARKET ANALYSIS
6.1 India Aluminium Formwork System Market Revenue (US$ Million), 2022 – 2030
6.2 Aluminium Formwork System Market Forecast and Analysis
6.3 Global Aluminium Formwork System Market Revenue (US$ Million), 2022 – 2030
6.4 Global Aluminium Formwork System Market Forecast and Analysis
6.5 India Formwork System Market Import and Export Share (%), 2022
6.6 India Formwork System Market Import and Export Values (US$ Million), 2022
6.7 India Formwork System Market Import and Export Values (US$ Million), 2022
7. ALUMINIUM FORMWORK SYSTEM MARKET ANALYSIS - OFFERING
7.1 Solutions
7.1.1 Overview
7.1.2 Solutions Market, Revenue and Forecast to 2030 (US$ Million)
7.1.3 Services
7.1.3.1 Overview
7.1.3.2 Services Market, Revenue and Forecast to 2030 (US$ Million)
8. ALUMINIUM FORMWORK SYSTEM MARKET ANALYSIS – TYPE
8.1 Slab Formwork
8.1.1 Overview
8.1.2 Slab Formwork Market Revenue, and Forecast to 2030 (US$ Million)
8.2 Wall Formwork
8.2.1 Overview
8.2.2 Wall Formwork Market Revenue, and Forecast to 2030 (US$ Million)
8.3 Corner Formwork
8.3.1 Overview
8.3.2 Corner Formwork Market Revenue, and Forecast to 2030 (US$ Million)
8.4 Beam Formwork
8.4.1 Overview
8.4.2 Beam Formwork Market Revenue, and Forecast to 2030 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others Formwork Market Revenue, and Forecast to 2030 (US$ Million)
9. ALUMINIUM FORMWORK SYSTEM MARKET ANALYSIS – APPLICATION
9.1 Industrial
9.1.1 Overview
9.1.2 Industrial Market Revenue, and Forecast to 2030 (US$ Million)
9.2 Residential
9.2.1 Overview
9.2.2 Residential Market Revenue, and Forecast to 2030 (US$ Million)
9.3 Commercial
9.3.1 Overview
9.3.2 Commercial Market Revenue, and Forecast to 2030 (US$ Million)
10. ALUMINIUM FORMWORK SYSTEM MARKET – IMPACT OF COVID-19 PANDEMIC
10.1 Pre & Post Covid-19 Impact
10.2 Pre & Post Covid-19 Impact
11. COMPETITIVE LANDSCAPE
11.1 Heat Map Analysis by Key Players
11.2 Company Positioning & Concentration
11.3 Company Market Share Analysis, 2022
12. INDUSTRY LANDSCAPE
12.1 Overview
12.2 Market Initiative
12.3 Product Development
12.4 Mergers & Acquisitions
13. COMPANY PROFILES
13.1 Cosmos Construction Machineries And Equipments Pvt Ltd
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 IHITA FORMWORKS
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Knest Manufacturers LLP
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Sammok S-Form Co Ltd
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Technokraft industries (India) private Ltd.
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 MFE Formwork Technology Sdn Bhd
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Winntus Formwork Pvt Ltd
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Rudra Aluminium Formwork System (RAFS)
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Nova Formworks Pvt Ltd
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 PERI India Pvt Ltd
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
13.11 Vaba Aluminium
13.11.1 Key Facts
13.11.2 Business Description
13.11.3 Products and Services
13.11.4 Financial Overview
13.11.5 SWOT Analysis
13.11.6 Key Developments
14. APPENDIX
14.1 About The Insight Partners
14.2 Word Index
