New York, United States , Feb. 27, 2024 (GLOBE NEWSWIRE) -- Barrier systems are essential to avoiding and reducing automotive crashes, assuring the safety of both vehicles and pedestrians. Examples include fencing, bollards, crash barriers, drop arms, and other systems. Urbanization and the rapid expansion of the infrastructure sector have substantially impacted road traffic, resulting in an increase in the frequency of accidents. Barrier systems are installed to reduce accident frequency and ensure road safety. Barrier systems function as the road directors that ensure the safety of both people and vehicles by directing traffic along the proper routes and keeping it out of restricted areas.
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Recovery in the Construction & Infrastructure Industry and Technological Evolutions to Drive the Global Barrier Systems Market
According to Straits Research, “The global barrier systems market size was valued at USD 20,418 million in 2021. It is expected to reach USD 28,760 million by 2030, growing at a CAGR of 3.88% during the forecast period (2022-2030).” The market for barrier systems is anticipated to expand due to the increased need for building and infrastructure development. Bollards and drop arm gates are in greater demand as the demand for industrialization, residential, and commercial infrastructure setting increases. The infrastructure expansion is predicted to increase the demand for barrier systems in emerging economies like China and India, hence boosting the market's growth. The expansion of the real estate industry contributes to the growth of the market for fence barriers.
It has been proven that spending on infrastructure improvements, such as fixing roads and bridges, has increased. According to the Global Infrastructure Outlook, the world's population will expand by about two billion people by 2040, with urban populations increasing by 46%. This will generate a substantial need for infrastructure support. Thus, boosting the demand for barrier systems. The industrialization has increased due to improvements in transportation, substantial immigration, new technology, and considerable investment, notably in the Asia-Pacific region. The requirement for metal safety barriers and other things has also increased due to expanding urbanization and construction activities.
The global market for barrier systems is also substantially influenced by technological advancements. In this age of advanced technology, manufacturers now offer barrier systems that are automated and electronically integrated, eliminating the need for any manual effort. For example, drop arms from biometric systems are widely utilized in parking lots, and automatic bollards, operated by an automated control panel, are used on pedestrian sidewalks and commercial entrances, among other locations. In addition, the combination of safety barrier systems and cutting-edge technologies has raised the demand for barrier systems that offer enhanced safety solutions.
Growth Potential in Emerging and Developed Nations to Create Global Barrier Systems Market Opportunities
Due to a rise in investments in commercial and transportation infrastructure, it is anticipated that developing economies, such as those in Asia-Pacific and LAMEA, will experience rapid expansion in the barrier system market. Currently, airport investments are popular, which helps the global market for barrier systems expand rapidly and substantially. In March 2018, the UAE government proposed expanding Al Maktoum International Airport by 2025. Tunisia has also proposed constructing and developing a new airport by 2030.
In industrialized economies like North America and Europe, the desire for automatic barrier systems that provide enhanced safety solutions for vehicles and pedestrians could raise the market for barrier systems. In addition, the market is rising due to the need for commercial and industrial infrastructure projects. Industrial infrastructure development in emerging economies has a favorable effect on the market expansion. In addition, the need for commercial buildings is predicted to boost the market expansion in developed regions. In addition, the expansion of industrialized economies in LAMEA and Asia-Pacific is predicted to create profitable opportunities for the market for barrier systems.
Regional Insights
Europe is forecasted to command the regional barrier systems market while expanding at a CAGR of 2.9%. Due to the continent's enormous transportation infrastructure, Germany is dominant in the barrier system market. Crash cushions and end treatments are utilized in conjunction with barrier systems. Due to the rise of the European road and highway construction industry, it is predicted that Europe will dominate the crash barrier system applications market throughout the projection period. Due to high net migration rates and population growth, there has been a substantial demand for the European road and highway construction business. It is projected that these factors would boost market expansion.
Most of Eastern Europe's market expansion is predicted to come from Bulgaria, Romania, and Slovakia, where spending on infrastructure projects is anticipated to increase and promote market expansion. In addition, Russia accounts for almost 50% of all construction costs in Eastern Europe. This percentage is presumed to expand due to the construction of structures and infrastructure, accelerating market growth.
The Asia Pacific will presumably hold USD 10,329 million, growing at a CAGR of 4.95%. Due to an increase in infrastructure development projects for roads and highways, the market for barrier systems is rising in Asia-Pacific, a developing economy. This region's market increase is primarily driven by the economy's revival and construction demand growth. Before the economic recovery and growth in construction demand, developing nations in the Asia-Pacific region saw a sluggish expansion of the infrastructure sector, which is now expected to expand faster. The largest infrastructure sites are found in countries such as India, South Korea, and China, which invest extensively in public works such as constructing bridges, airports, and buildings.
Key Highlights
- Based on the device type, the crash barrier system section is predicted to have the largest market share, expanding at a CAGR of 4.4%.
- Based on the technology, the semirigid section is forecasted to hold the largest share, expanding at a CAGR of 4.2%.
- Based on the material, the metal section is presumed to hold the largest share, expanding at a CAGR of 4.3%.
- Based on the application, the section of the roadway will presumably hold the largest share, growing at a CAGR of 4.45%.
- Based on the regional analysis, Europe is forecasted to command the regional market while expanding at a CAGR of 2.9%.
Competitive Players in the Market
The Top 10 players in the global barrier systems market are A-SAFE, Avon-barrier, Barrier1 Systems, Inc., DELTABLOC, Global GRAB Technologies, Inc., Gramm Barrier Systems Limited, Hill & Smith Barrier, Lindsay Corporation, Tata Steel Europe, Valmont Structures Pvt. Ltd.
Market News
- In 2022, A-SAFE introduced a cutting-edge new product to its well-known line of safety solutions. The Universal Swing Gate offers a variety of distinctive characteristics that promise to revolutionize the installation process, raise the bar for material quality, and significantly increase pedestrian workplace safety.
Global Barrier Systems Market: Segmentation
By Device Type
- Fences
- Bollards
- Gate
- Crash Barrier Systems
- Crash Cushions
- End Treatments
- Sand and Water Filled Barriers
- Guardrail Energy Absorbent Terminal
- Others
- Drop Arms
- Others
By Technology
- Rigid
- Semirigid
- Flexible
By Material
- Metal
- Steel
- Aluminum
- Tungsten
- Non-Metal
- Plastics
- Wood
- Concrete
By Application
- Roadways
- Airports
- Railways
- Others
By Region
- North America
- Europe
- Asia Pacific
- LAMEA
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