New York, US, May 04, 2022 (GLOBE NEWSWIRE) -- Fencing Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Fencing Market Information by Technique, Product, Application, End-User, and Region - Forecast till 2027”, the market is estimated to grow at a CAGR of 5% CAGR to reach USD 13,440 Million by 2027.
Market Scope:
A fence is a structure that completely covers an area, usually outdoors, and is normally made of posts joined by a wire, boards, rails, or netting. A fence varies from a wall in that it does not have a strong foundation along its entire length. The Greeks were among the first to construct a barrier. The fence was crucial in these land acquisitions and played a role in gaining dominance. Fences control our mobility on the terrain we live on, constantly changing and constructing our dynamic civilization. It results from a human battle for control, a technological solution we devised to resolve social issues, and a symbolic statement of the conviction that individuals should have some form of social control.
The market is predicted to expand over the forecast period due to an unceasing increase in new house building, home rehabilitation projects, renovation operations, and commercial construction. Widespread concern about safety and security decreased maintenance costs, and higher reliability features associated with the latest fencing technologies are expected to fuel market growth.
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Market Competitive Landscape:
The vital contenders in the fencing market are
- Jerith Manufacturing Company Inc. (US)
- Ameristar Fence Products Inc. (US)
- Long Fence Company Inc. (US)
- CertainTeed Corporation (US)
- Gregory Industries Inc. (US)
- Bekaert (Belgium)
- Betafence NV (Belgium)
- Long Fence Company Inc. (US)
- Associated Materials LLC (US)
- Ply Gem Holdings Inc. (US)
- Associated Materials LLC (US)
- Allied Tube and Conduit (US)
Market USP Covered:
Market Drivers:
Many people and businesses worldwide are constructing new homes and commercial buildings. They are also investing heavily in rehabilitation and renovation projects for new and older residential housing properties. Rapid global urbanization is a primary driver of expansion in the overall fence sector. Many governments worldwide are heavily investing in various construction firms and their projects. Parks, government facilities, and public areas are examples of them. Many companies in the worldwide fence market realize that genuine money is to be acquired. This is especially true in the security and defense industries, where technologically advanced electric fences that are digitally operated are required.
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Market Restraints:
One significant impediment is the increased demand for environmentally friendly fences. Because these fences require more care and are more expensive, the market for fences is not increasing as quickly. One of the major issues that the worldwide fencing industry faces is the ability of companies to construct better, more technically sophisticated fences at lower prices.
COVID 19 Analysis
Construction material manufacturing enterprises in China are the most affected by the viral epidemic, owing to the region's lockdown and lack of supplies. Since the corona outbreak, demand for new building materials has seen a major negative shift, with manufacturers and investors worrying about overly slowing economic growth. Travel restrictions around the world have impacted the construction materials sector. As a result, the global market forces for construction materials have come to a halt. The greatest impediment to the worldwide construction materials industry is the issuance of home quarantine orders by separate governments, which has resulted in the cessation of construction material manufacturing. Reduced consumer consumption pattern has resulted in a reduction and slowing of construction material sales worldwide during the current fiscal year.
Market Segmentation
By Material
Metal fencing is currently the largest sub-segment of the fencing market. This is because these barriers are tougher and survive longer than fences constructed of other materials.
By Product
The electric fence sub-segment has the fastest growing fencing market of any sub-segment. There are several causes for this; one of these benefits is that they have been simple to install.
By End-User
The housing and real estate markets are rapidly expanding, resulting in a substantial increase in residences and living spaces. The fastest and largest growth rate is in the residential sub-segment. It is likely to stay in this manner for the forecast duration.
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Regional Insights
The North American region and the European Union have the lion's share of the worldwide fencing market due to increased demand for cosmetic home products. Companies in the North American region are likewise investing more in technologically superior fencing materials. It is primarily driven by an increase in the number of people in North America who wish to renovate and repair their homes. The Asia-Pacific area is experiencing amazing and rapid expansion in the global fencing market, owing to the region's expanding income and the presence of a large and emerging middle class. As a result, many people are ready to invest in home security goods such as technologically enhanced fencing. India and China are experiencing rapid expansion in their agricultural and urban sectors. It turns out that when more individuals in these countries join the middle classes, they want to live in safer, fenced-in neighborhoods.
For instance, Landowners in Pennsylvania can now take advantage of Big Jerry's Fencing's technologically advanced services. The new franchise agreement will span Allegheny and Westmoreland counties in and around Pittsburgh, Pennsylvania. Big Jerry's Fencing currently has locations in Tennessee, Idaho, North Carolina, Florida, Louisiana, and Pennsylvania. The Big Jerry's website has a comprehensive list of locations.
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