We have facilitated orders in products ranging from aluminium formwork to plastic formwork.

Subash Arunachalam, Founder, Formbid

How was the demand trend of scaffoldings and formworks in 2022-23? Which segments were driving the demand?

As construction projects continue to grow in size and complexity, the demand for formwork and scaffolding materials has been increasing steadily. With the ongoing infrastructural push in many countries in the last financial year, the demand for these materials has grown steadily. Additionally, innovations in the formwork and scaffolding industry, such as modular systems and advanced materials, are making these products more efficient and cost-effective, further driving demand. The key segments that were driving the demand last year included - infra projects such as metros and bridges, high rise residential apartments and large scale commercial projects.

How are the applications of scaffoldings/formworks evolving in the latest construction projects in bridges, buildings and other structures?

There is a growing demand for more complex structures that require innovative scaffolding and formwork solutions. For example, in bridge construction, specialized formwork is required to create unique and intricate shapes. Similarly, in high-rise building construction, self-climbing formwork systems are used to support the structure as it rises. Moreover, new technologies like Building Information Modelling (BIM) are being integrated with scaffolding and formwork solutions to improve precision and efficiency. Overall, the industry is seeing a push towards more eco-friendly, sustainable products and technology-oriented solutions to improve the process efficiency.

What are the latest technologies and solutions offered by the company?

Products: We at Formbid as a marketplace and consulting platform for Formwork Industry offer solutions for any system formwork
including: Aluminium Formwork, Modular Formwork, Deck Formwork, Plastic Formwork. Our strong base of suppliers implies that we will be able to get the best for our clients for any project.

Technologies: Being a firm focused on bringing the best IT advancements to construction industry, we provide our digital platform for order fulfilment tracking, procurement, use advanced Machine Learning Algorithms for Formwork Consulting and Supplier identifications.

How do you cater to the changing customer needs with the project size and designs are changing?

Being a formwork marketplace, at Formbid we have a solution perfectly solving any of our clients' unique requirements. We have facilitated orders in products ranging from aluminium formwork to plastic formwork, residential apartments to infrastructure projects, blocks of sizes from 2,000 sq ft floor plate area to 25,000 sq ft built up area blocks. You can rely on Formbid for any design and any size.

How do you look at the future market opportunities for your products and solutions? What are your expansion plans?

We have been in operation for little over a year and have already facilitated Rs 30 crore worth orders through and believe that by proving our presence in these projects fulfillment, we shall be able to retain all these clients for their future projects and also garner more projects from these regions. Being a startup, we are planning to expand our presence to the east part of India in the coming year.

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