New York, USA, March 01, 2023 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global barrier systems market is projected to generate a revenue of $22,384.0 million and grow at a CAGR of 3.9% throughout the estimated period from 2021 to 2028.
As per our analysts, with the increasing performance of the automotive and construction industries all across the globe, the barrier systems market is predicted to witness significant growth during the analysis timeframe. Besides, the growing urbanization in developing nations has increased the demand for construction products & equipment which is expected to foster the growth of the market throughout the estimated period. Moreover, the strong presence of industry players and their strategic steps are expected to create extensive growth opportunities for the market over the forecast period. However, a higher initial investment may hamper the growth of the market during the analysis timeframe.
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Segments of the Barrier Systems Market
The report has divided the market into segments based on type, material, technology, applications, and region.
Type: Crash Barrier Sub-Segment to be Most Profitable
The crash barrier sub-segment is predicted to generate a revenue of $7,876.9 million during the estimated period. This is mainly due to the increasing automotive and construction industries all across the world. Moreover, the leading companies are following multiple effective strategies such as innovation of road infrastructure products and water management is expected to augment the growth of the market sub-segment over the analysis timeframe.
Material: Metal Sub-Segment to be Most Productive
The metal sub-segment is expected to garner a revenue of $13,631.9 million throughout the estimated period. This is mainly because metal barriers are ready-to-install safety barriers that can be used for directing traffic. In addition, the increasing adoption of metal barriers to protect vehicles and their occupants in case of road accidents is predicted to fuel the growth of the barrier systems market sub-segment during the analysis timeframe.
Technology: Flexible Sub-Segment to be Most Lucrative
The flexible sub-segment is projected to generate a revenue of $4,620.7 million during the forecast period. The various beneficial advantages of flexible barrier systems such as they are recyclable, impact absorbing, corrosion resistant, easy to install, and many more are expected to propel the growth of the market sub-segment over the analysis timeframe.
Applications: Roadways Sub-Segment to be Most Beneficial
The roadways sub-segment is predicted to generate a revenue of $11,457.3 million during the estimated period. This is mainly due to the rapid urbanization in emerging economies. Moreover, the rising deployment of roadway barrier systems to streamline vehicle traffic flow is expected to uplift the growth of the market sub-segment over the analysis timeframe.
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North America Region to Have Wide Growth Opportunities
The North America region of the barrier systems market is expected to rise at a remarkable rate throughout the forecast period. This is mainly due to the expansive growth in the infrastructural industries in this region. Furthermore, the growing preference for durable and robust building materials among customers of this region is predicted to drive the regional growth of the market during the analysis period.
Covid-19 Impact on the Barrier Systems Market
The outbreak of the Covid-19 pandemic has had a negative impact on the barrier systems market. This is mainly because of the delays in barrier manufacturing and supply chain disruption during the pandemic period. However, the leading players have come forward with innovative product development with unique capabilities, bringing lucrative opportunities for the market throughout the crisis.
Key Players of the Market
The major players of the barrier systems market include
- Guangxi Shiteng Transportation Engineering Co. Ltd.
- Arbus Ltd.
- Nucor Corporation
- Valmont Industries Inc.
- A-SAFE
- Hill & Smith Holdings PLC
- Avon Barrier Corporation Ltd
- DELTA BLOC International GmbH
- Barrier1 Systems, LLC.
- Lindsay Corporation
These players are widely working on the development of new business strategies such as mergers and acquisitions, partnerships and collaborations, and product development to obtain a leading position in the global industry.
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For instance, in March 2022, Lindsay Corporation, a leading global manufacturer and distributor of irrigation and infrastructure equipment and technology announced its partnership with Blyncsy Inc, an emerging leader in the utilization of AI and machine learning for connected roadways. With this partnership, the companies aimed to offer roadside asset management platforms for government agencies and their contractors to enable smarter, safer, and more efficient roadways.
Further, the report also presents other important aspects including SWOT analysis, the financial performance of the key players, the product portfolio, and the latest strategic developments.
More about Barrier Systems Market:
- The Plethora of Applications of Barrier Systems
- Enhanced Performance of the Automotive and Construction Industries Across the Globe to Create Substantial Investment Opportunities in the Global Barrier Systems Market
