Pune, India, Jan. 10, 2022 (GLOBE NEWSWIRE) -- The global electric fencing market size is anticipated to reach USD 442.5 million by 2028, and exhibit a CAGR of 5.54% during the forecast period. The growing product adoption by farm owners and its increasing usage by armed forces to seal international borders. Fortune Business InsightsTM has presented this information in its report titled “Electric Fencing Market, 2021-2028”. The market size stood at USD 297.2 million in 2020 and is estimated to reach USD 303.4 million in 2021. According to the report, the increasing adoption of solar-based electric fencing and IoT-based solutions is expected to emerge as a key trend influencing the market growth.
List of Key Players in the Global Electric Fencing Market Research:
- Dare Products (U.S.)
- Gallagher Group Limited (U.S.)
- High Tech Pet (U.S.)
- Kencove (U.S.)
- Parker McCrory Mfg Co. (U.S.)
- PetSafe (U.S.)
- Woodstream (U.S.)
- Datamars SA (Switzerland)
- AMAROK LLC (U.S.)
- Nemtek (South Africa)
Request a Sample PDF:
https://www.fortunebusinessinsights.com/enquiry/sample/electric-fence-market-103521
Increasing Adoption of Solar-based Electric Fencing and IoT-based Solutions to Propel Market Growth
Electric-type fencing is used by several armed forces to prevent intrusion at international borders. For instance, Russian armed forces adopted an electric fence at the China-Russia border for enhanced security. Hence, the growing adoption of the product by armed forces is anticipated to drive the global electric fencing market growth. Also, the product provides improved security at farms against wild animals’ unauthorized entry. Electric fence produces minor shocks that prevent them from entering the premises. Hence, the rising adoption of the product by farm owners is likely to bolster the market growth in the coming years.
The increasing demand for the electric type of fencing systems for storage centers, farmland security, and warehouse security is expected to fuel the market growth in the coming years. Additionally, the increasing adoption of solar-based electric fencing in remote areas, where there is limited electricity supply, is anticipated to favor the market growth. The incorporation of IoT-based solutions and their rising adoption for warehouse security is also anticipated to be a key growth driver for the market. However, the high cost of maintenance may hinder the market growth.
Report Coverage-
- It highlights the latest technological advancements and key trends of the market.
- It assimilates the challenges and restraints to growth and advises strategies to
- overcome those challenges.
- It describes the consumption rates and patterns associated with the market.
- It incorporates SWOT Analysis.
- It showcases the COVID-19 pandemic impact on the market.
Regional Insights-
North America is projected to emerge dominant in the global electric fencing market share. The presence of numerous product suppliers and large defense expenditures are expected to fuel the growth of the market.
Europe is anticipated to exhibit substantial growth in the forthcoming years. The increasing product adoption for improved homeland security is expected to drive the region’s market growth.
Asia Pacific is expected to exhibit the highest CAGR during the forecast period. The growing defense budgets of developing nations such as India and China are predicted to foster market growth. The large agriculture industry is likely to complement market growth.
South America is projected to gain considerable growth due to the increasing product adoption for military base security in the UAE.
Competitive Landscape-
Key Players Adopt Inorganic Strategies to Acquire Growth
The key players emphasize continuous research and development to produce technologically advanced fencing product that includes solar panels and cost-effective solutions for border security. They devise innovative growth strategies such as technological developments, new product launches, patents, partnerships, collaborations, and others. For instance, Woodtream acquired Dynamic Solutions Worldwide, an insect trap producer for outdoor and indoor applications, in November 2019.
Get your Customized Report:
https://www.fortunebusinessinsights.com/enquiry/customization/electric-fence-market-103521
Major Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments –Mergers, Acquisitions and Partnerships
- Latest technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- Qualitative Insights
- Impact of Covid-19 on the Global Electric Fencing Industry
- Steps Taken by the Industry/Government/Companies to Overcome the Impact
- Potential Opportunities due to COVID-19 Outbreak
- Global Electric Fencing Market Analysis, Insights and Forecast, 2017-2028
- Segmental Definitions
- Market Analysis, Insights and Forecast – By Type
- Permanent Fence
- Portable Fence
- Market Analysis, Insights and Forecast – By Application
- Agriculture
- Wild Animals
- Pets
- Security
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia-Pacific
- South America
- Middle East & Africa
TOC Continued…!
Browse Summary of This Research Report:
https://www.fortunebusinessinsights.com/electric-fence-market-103521
Have a Look at Related Research Insights:
Fencing Market Size, Share & Industry Analysis, By Type (Metal, Wood, Concrete), By Application ( Commercial Use, Residential Use ), By Sales Channel (Online Stores, Retail Stores) and regional forecast 2021-2028
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
Phone:
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com
