The global shoring equipment market is currently valued at an estimated $1.5 billion and is projected to grow at a 4.8% CAGR over the next three years, driven by global infrastructure investment and stricter excavation safety regulations. The market is mature, with rental models dominating procurement strategies and representing over 75% of total market activity. The primary strategic opportunity lies in leveraging advanced digital tools, such as BIM-integrated shoring design software, to optimize project planning, reduce on-site labor costs, and improve safety outcomes, thereby lowering the total cost of ownership (TCO).
The global market for shoring equipment, a key sub-segment of the broader construction equipment rental market, is characterized by steady growth. The Total Addressable Market (TAM) is driven by non-residential construction and public infrastructure spending. The three largest geographic markets are 1. North America, 2. Europe, and 3. Asia-Pacific, with APAC showing the highest growth potential due to rapid urbanization and infrastructure development in countries like India and China.
| Year (est.) | Global TAM (USD) | CAGR (5-Year Fwd.) |
|---|---|---|
| 2024 | est. $1.52 Bn | 4.9% |
| 2025 | est. $1.59 Bn | 4.9% |
| 2026 | est. $1.67 Bn | 5.0% |
Barriers to entry are Medium-to-High, driven by significant capital investment for equipment inventory, extensive engineering expertise requirements, and the logistical complexity of a national or regional depot network.
⮕ Tier 1 Leaders * BrandSafway: Global leader in industrial, commercial, and infrastructure services; offers a comprehensive portfolio of shoring and forming solutions with a strong engineering and safety focus. * United Rentals: World's largest equipment rental company; dominates the North American market through an unmatched distribution network and a "one-stop-shop" model for trench safety equipment. * PERI Group: German-based global player renowned for innovative and efficient formwork and scaffolding systems, with a strong emphasis on engineered solutions and project optimization. * Doka GmbH: Austrian-based competitor to PERI, offering high-performance formwork and shoring systems with a focus on high-rise construction and complex infrastructure projects.
⮕ Emerging/Niche Players * Mabey Hire: UK-based specialist in temporary works engineering, known for its expertise in groundworks support, propping, and temporary bridging. * National Trench Safety (NTS): A key US player (now part of United Rentals) that built its brand on specialized trench and traffic safety solutions and engineering services. * Sunbelt Rentals: A major competitor to United Rentals in North America, rapidly expanding its trench safety division and specialized service offerings.
Shoring equipment is predominantly procured via rental agreements, with pricing structured on a per-piece, per-day/week/month basis. The rental rate typically includes the hardware only; ancillary services like engineering design, transportation, on-site assembly/dismantling supervision, and post-rental inspection are priced separately. This unbundling can obscure the Total Cost of Ownership (TCO), making a detailed quote analysis critical. For direct purchases, the price is a function of raw material costs, manufacturing complexity, engineering, and brand value.
The price build-up is highly sensitive to input cost volatility. The three most volatile cost elements are: 1. Hot-Rolled Steel: The primary raw material for most shoring components (e.g., beams, plates). Recent 12-month volatility has been ~15-20%. [Source - World Steel Association, 2024] 2. Aluminum: Used for lighter-weight, modular systems. Prices have seen fluctuations of ~10-15% over the past year, influenced by energy costs and global supply chain dynamics. 3. Specialized Labor (Welders, Engineers): Wages for certified welders and structural engineers have increased by an estimated 5-8% year-over-year due to persistent labor shortages in manufacturing and construction sectors.
| Supplier | Region(s) | Est. Market Share (Global) | Stock Exchange:Ticker | Notable Capability |
|---|---|---|---|---|
| United Rentals | North America, Europe | est. 15-20% | NYSE:URI | Unmatched rental network; broad trench safety portfolio |
| BrandSafway | Global | est. 12-18% | Private | Integrated access, scaffolding, and shoring services |
| PERI Group | Global | est. 10-15% | Private | Advanced engineering; highly efficient modular systems |
| Doka GmbH | Global | est. 10-15% | Private (Umdasch Group) | Expertise in high-rise and complex infrastructure |
| Sunbelt Rentals | North America, UK | est. 8-12% | LSE:AHT (Ashtead Group) | Strong competitor to URI; growing specialty fleet |
| Mabey Hire | UK, Australia, NZ | est. 2-4% | Private | Niche expert in temporary works engineering |
| AlumaSystems | North America, Europe | est. 2-4% | (Part of BrandSafway) | Leader in aluminum forming and shoring technology |
North Carolina presents a strong demand outlook for shoring equipment over the next 3-5 years. This is fueled by a confluence of major projects in the "Battery Belt" (e.g., Toyota, VinFast), continued expansion in the Research Triangle's life sciences sector, and significant public infrastructure upgrades funded by the NCDOT. Local supplier capacity is robust, with major depots for United Rentals, Sunbelt Rentals, and other regional players located near key metro areas like Charlotte and Raleigh. The state's favorable business climate and right-to-work status help moderate labor cost increases relative to other regions, though skilled labor availability remains a key project constraint. Regulatory enforcement by North Carolina's OSH division is active, ensuring that demand for compliant shoring solutions remains high.
| Risk Category | Grade | Justification |
|---|---|---|
| Supply Risk | Low | High availability of equipment through extensive rental networks; multiple global and regional suppliers mitigate single-source risk. |
| Price Volatility | High | Directly tied to volatile steel and aluminum commodity markets; rental rates can see quarterly adjustments. |
| ESG Scrutiny | Medium | Increasing focus on worksite safety (the 'S' in ESG) and the carbon footprint of steel production and transportation. |
| Geopolitical Risk | Low | Primary supply chains are well-diversified across North America and Europe, with limited direct exposure to high-risk geopolitical zones. |
| Technology Obsolescence | Medium | Risk of over-investing in basic steel systems as lighter, safer, and digitally-enabled modular solutions gain traction and become best practice. |
Implement a TCO Model for Rental Bids. Mandate that all rental quotations unbundle costs for equipment, engineering, transport, and on-site support. By analyzing the total cost against project duration and labor needs, we can identify suppliers who are up to 15% more expensive on TCO despite having lower headline rental rates. This shifts focus from piece price to project value.
Diversify Portfolio with Modular Aluminum. For projects involving excavations less than 12 feet deep, initiate a pilot with a supplier of modular aluminum shoring systems. Target a 10-20% reduction in logistics and on-site labor hours compared to traditional steel systems. This data will build a business case for diversifying our approved supplier list and optimizing equipment selection by project type.