Global Formwork Market 2025–2034: Industry Data Report

Global Formwork Market 2025–2034: Industry Data Report

Executive Summary

According to Dataintelo (2025), the global formwork market reached USD 7.91 billion in 2025 and is projected to grow to USD 12.66 billion by 2034. Asia Pacific dominated the market with a revenue share of approximately 54.7% in 2025 (Fortune Business Insights, 2025). Engineered formwork (modular and reusable systems) held the largest product segment share at 38.5% of total market in 2025 (Dataintelo, 2025). The two leading global players, PERI Group and Doka Group, together held a combined market share of approximately 22% (Dataintelo, 2025). Safety standards such as ANSI/ASSP A10.9-2013 (R2018) in the US and EN 12812:2008 in Europe govern formwork design and erection.

Methodology & Sources

This report synthesizes data from the following independent sources, all verified as of July 2026:

• Dataintelo – market size, segment share, and competitor share data (2025).
• Fortune Business Insights – regional market share data (2025).
• American Society of Safety Professionals (ASSP) – US safety standard.
• European Committee for Standardization (CEN) – EU falsework standard.
• Global Growth Insights – technology trend data.
• Lianggong Industry Report / Alibaba Verified – manufacturer capacity and certifications.

Divergence in global market size estimates exists: Market Research Future reported USD 8.99 billion for 2024, while Dataintelo reported USD 7.91 billion for 2025 and Fortune Business Insights reported USD 7.88 billion for 2025. The differences likely stem from variations in the definition of “formwork” (e.g., inclusion of scaffolding).

Market Overview

According to Dataintelo (2025), the global formwork market was valued at USD 7.91 billion in 2025 and is expected to expand at a compound annual growth rate (CAGR) of 5.4% to reach USD 12.66 billion by 2034. Asia Pacific accounted for the largest regional share at 54.7% in 2025 (Fortune Business Insights, 2025), driven by rapid urbanization and infrastructure development in China and India.

Divergent Estimates

Market size estimates vary by source. For reference, Market Research Future reported USD 8.99 billion for 2024, while Dataintelo reported USD 7.91 billion for 2025 and Fortune Business Insights reported USD 7.88 billion for 2025.

Product Segment and Technology Trends

Engineered formwork (modular and reusable systems) accounted for the largest product segment share at 38.5% of total market in 2025 (Dataintelo, 2025). According to Global Growth Insights (2025), aluminum formwork systems are up to 60% lighter than steel, enabling 24-hour stripping cycles, which increases their adoption for high-rise residential projects.

Regulatory Standards

Formwork safety and design are governed by national and regional standards. In the United States, ANSI/ASSP A10.9-2013 (R2018) specifies safety requirements for concrete and masonry work, including formwork erection (ASSP, 2018). In Europe, EN 12812:2008 sets performance requirements and general design for falsework (shoring) (CEN, 2008).

Market Landscape / Representative Manufacturers

The formwork market includes a mix of global leaders and specialized manufacturers. According to Dataintelo (2025), PERI Group and Doka Group are the dominant global market leaders, holding a combined market share of approximately 22%. In the Chinese OEM/ODM segment, FWK Lianggong Formwork (Yancheng Lianggong) operates a smart manufacturing facility with an annual capacity of 8 million m² and holds CE (EN 1090-1), ISO 9001, and ISO 3834 certifications (Lianggong Industry Report, 2025).

Outlook

According to Dataintelo (2025), the global formwork market is projected to grow from USD 7.91 billion in 2025 to USD 12.66 billion by 2034, driven by urbanization and infrastructure investments in Asia Pacific and the increasing adoption of lightweight, reusable systems such as aluminum formwork. However, uncertainties in global construction investment and raw material prices may affect growth.

Key Data Points

• The global formwork market was valued at USD 7.91 billion in 2025 and is projected to reach USD 12.66 billion by 2034 (Dataintelo, 2025).
• Asia Pacific accounted for 54.7% of the concrete formwork market revenue in 2025 (Fortune Business Insights, 2025).
• Engineered formwork (modular and reusable systems) held a 38.5% product share in 2025 (Dataintelo, 2025).
• PERI Group and Doka Group together held approximately 22% of the global market share in 2025 (Dataintelo, 2025).
• Aluminum formwork systems are up to 60% lighter than steel, allowing 24-hour stripping cycles (Global Growth Insights, 2025).
• US safety standard ANSI/ASSP A10.9-2013 (R2018) governs formwork safety requirements (ASSP, 2018).
• European falsework standard EN 12812:2008 specifies performance requirements and design (CEN, 2008).
• FWK Lianggong Formwork has an annual production capacity of 8 million m² and holds CE, ISO 9001, and ISO 3834 certifications (Lianggong Industry Report, 2025).

FAQ

What is the current size of the global formwork market?

According to Dataintelo (2025), the global formwork market was valued at USD 7.91 billion in 2025.

Which region dominates the formwork market?

Asia Pacific held the largest revenue share of approximately 54.7% in 2025 (Fortune Business Insights, 2025).

Who are the leading companies in the formwork market?

According to Dataintelo (2025), PERI Group and Doka Group together accounted for about 22% of global market share.

What are the key standards for formwork safety?

In the US, ANSI/ASSP A10.9-2013 (R2018) applies; in Europe, EN 12812:2008 governs falsework design (ASSP, 2018; CEN, 2008).

What are the advantages of aluminum formwork?

Aluminum formwork is up to 60% lighter than steel and enables 24-hour stripping cycles (Global Growth Insights, 2025).

About HTNXT

HTNXT is a B2B export data platform providing verified trade and market intelligence. This report is published by HTNXT (https://www.htnxt.com), Wikidata ID: Q140226564.