Wilmington, Delaware, United States,, Jan. 26, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The Global Fencing Market is projected to expand at a CAGR of 5.3% during the forecast period 2022-2031, as per the market outlook presented in a research report by TMR.
As per the TMR study, Asia Pacific accounted for a prominent global market share in 2021. This can be attributed to a significant number of households across several emerging economies, such as India and China. Moreover, the expansion of several end-use industries, the rise in concerns about privacy and safety among people, and increased spending on home renovation activities owing to the improved disposable income are expected to fuel the global industry.
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Growth Drivers:
- An increase in the focus of governments of developing countries on infrastructure development presents lucrative business opportunities in the global market
- A rise in concerns pertaining to privacy and safety is driving the demand for various fencing solutions globally
Fencing Market: Key Findings
- According to the TMR research report, the privacy fencing segment held a large share of the Fencing Market in 2021. This can be ascribed to the rising demand for privacy fencing in the past few years owing to its several advantages, such as easy installation and availability in different colors, shapes, and molds as per customer preferences.
- Fences are manufactured using numerous metals, such as steel, wrought iron, and aluminum. The adoption of metal fencing is increasing owing to advantages such as its lower maintenance cost and durability. The usage of metal fencing is rising across several real estate projects and parks. As per the TMR study, the metal segment accounted for a prominent share of the global market in 2021.
- Security fences are being increasingly utilized in order to provide protection to commercial as well as residential buildings. Several developed and emerging economies are focusing on their infrastructure development. Hence, they are investing in the construction of industrial facilities, malls, and offices. This, in turn, is driving demand for fencing in the construction industry. Furthermore, the usage of fences is likely to rise in the next few years owing to a rise in the number of commercial buildings and office maintenance & renovation activities.
- Concerns about safety and security have increased in companies and institutions from several industry verticals. Hence, they are increasing investments in the security of their business premises. This factor is generating significant opportunities in the industry.
- Electrified fencing security systems are being increasingly adopted across the globe owing to the rise in the incidences of crimes and thefts in the past few years. Demand for physical site security solutions, such as fencing, is anticipated to grow in the residential sector in the near future as people are consciously investing in the protection of their houses. The rising popularity of fencing solutions in order to enhance the aesthetic appearance of houses is also leading to an increase in sales numbers.
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Competition Landscape
- Companies are adopting different strategies, such as new product launches, mergers, and acquisitions, in order to strengthen their market positions
- Manufacturers are investing in R&D activities in order to create robust products
- They are focusing on the development of next-generation solutions, such as bamboo fencing, long-lasting fencing, and electric fences, which are cost-effective and esthetically pleasant
- Companies are experimenting with the production of fences by incorporating synthetic raw materials and plastic composites in order to offer improved esthetics as well as lower prices of their products
Fencing Market: Key Players
- N.V. Bekaert S.A
- Compagnie de Saint-Gobain S.A.
- Associated Materials, LLC.
- Ameristar Perimeter Security
- Long Fence Company Inc.
- Jerith Manufacturing LLC.
- Betafence Group
- Gregory Industries, Inc.
- Builders Fence Company (BFC), Inc.
- Ply Gem Holding Inc.
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Fencing Market Segmentation
- Product Type
- Privacy Fencing
- Picket Fencing
- Others (Pool Fencing, Pet Fencing, Semi-privacy Fencing, Rail Fencing, Chain-link fence, etc.)
- Material
- Metal (Steel, Aluminum, Ornamental Metal, etc.)
- Wood
- Plastic & Composite (Vinyl Fence Made from PVC, Polyethylene, etc.)
- End-use
- Residential
- Commercial
- Industrial
- Distribution Channel
- Direct Sales
- Indirect Sales
- Regions Covered
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
About Transparency Market Research
Transparency Market Research, a global market research company registered in Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analyzed, which will determine growth in the markets over the next decade.
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