New York, USA, Aug. 18, 2021 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global barrier systems market is anticipated to generate a revenue of $22,384.0 million at a CAGR of 3.9% during the analysis period, increasing from $16,546.9 million in 2020.
The inclusive report provides a brief overview of the current scenario of the market including significant aspects of the market such as growth factors, challenges, restraints, and various opportunities during the forecast period. The report also provides all the market figures making it easier and helpful for the new participants to understand the market.
For More Detail Insights, Download Free Sample Copy of the Report at: https://www.researchdive.com/download-sample/8413
Dynamics of the Market
Drivers: The main factor enhancing the growth of the global market of barrier systems is the amazing developments in the automotive and construction industries. The increasing disposal income of the urban population has enhanced the purchasing of vehicles, leading to the need of cutting-edge road infrastructure across the world. Any new state-of-the-art road infrastructure requires road safety equipment. These are the major driving factors fueling the growth of the global barrier systems market during the forecast period.
Restraint: Fluctuating prices of raw material is expected to hinder the growth of the market during the forecast period.
Opportunity: Upcoming products and instigation of technology is expected to create many opportunities for the market.
Key Segment of the Market
The report has divided the market into different segments based on type, technology, material type, application, and regional analysis.
Type: Crash Barrier Sub-Segment Expected to be the Most Lucrative
The crash barrier sub-segment is predicted to garner the maximum revenue of $7,876.9 million by the end of 2028. The main purpose of a crash barrier is to lessen the impact of vehicles with certain weights at a certain angle while traveling at a certain speed. This is the main factor behind the growth of the market.
Technology: Metal Sub-Segment Expected to be the Most Profitable
The metal sub-segment is predicted to garner the maximum revenue of $13,631.9 million during the forecast period, surging from $10,280.5 million in 2020. Metal barriers are ready-to-install safety barriers. They are significantly used in road safety systems and to ensure the safety of passengers and driver. This is one of the major factors behind the growth of the market segment.
Application: Roadways Sub-Segment Predicted to be the Most Lucrative
The roadways sub-segment is expected to garner a revenue of $11,457.3 million by 2028, increasing from $8,357.5 million in 2020. The roadways barrier systems perform many tasks including reducing the entrance speed of the vehicle, bringing vehicles to the complete halt, and many more. This is one of the main attributors of the growth of the market segment.
Regional Insight: Asia-Pacific Expected to Dominate the Market
Asia-Pacific regional market garnered $3,574.1 million in 2020 and is further expected to reach a revenue of $5,036.4 million during the analysis period. Because of the presence of the leading manufacturing companies in the Asia-Pacific region, the market is expected to propel during the forecast period.
Connect with Analyst to Reveal How COVID-19 Impacting On Market: https://www.researchdive.com/connect-to-analyst/8413
Key Market Players & Strategies
The most prominent market players of the global barrier systems market include -
- Hill & Smith Holdings PLC
- Lindsay Corporation
- Valmont Industries, Inc.
- DELTA BLOC International GmbH
- Guangxi Shiteng Transportation Engineering Co., Ltd.
- Arbus Ltd.
- A-SAFE.
- Nucor Corporation
- Barrier1 Systems, LLC.
- Avon Barrier Corporation Ltd.
These players are working on developing strategies such as product development, merger and acquisition, and partnerships and collaborations to sustain the market growth.
Recent development
In August 2021, Nucor Corporation, a leading manufacturer of steel and related products, completed its acquisition of Cornerstone Building Brands' insulated metal panels (IMP) business for a cash purchase price of approximately $1 billion, subject to customary adjustments. The Nucor management team is in place and the CENTRIA and Metl-Span brands acquired from Cornerstone Building Brands are now a part of the newly created Insulated Panel Group, which also includes the Company's existing IMP business, TrueCore.
Impact of Covid-19 on the Market
The coronavirus pandemic has impacted the global barrier systems market in a negative way. During the pandemic, lockdowns and restrictions on movement were imposed across nations to disrupt the chain of virus infection. Because of the restrictions, manufacturing industries of barrier system has also stopped their operations temporarily. However, with the product development and other business tactics, the leading players of the industry are contributing to the growth of the market post the pandemic.
Top Trending Reports -
- Interior Doors Market - https://www.researchdive.com/8416/interior-doors-market
- Butterfly Valves Market - https://www.researchdive.com/8418/butterfly-valves-market
- Industrial Refrigeration Market - https://www.researchdive.com/8427/industrial-refrigeration-market
