Dublin, Sept. 07, 2023 (GLOBE NEWSWIRE) -- The "Global Barrier Systems Market by Material (Concrete, Wood, Metal, Plastics), Application (Roadways, Railways, Commercial, Residential), Type (Bollards, Fences, Crash Barriers Systems, Crash Barrier Devices, Drop Arms), Function, & Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global barrier systems market is poised for substantial growth, with an estimated value of USD 21.1 billion in 2023 projected to escalate to USD 25.5 billion by 2028, indicating a Compound Annual Growth Rate (CAGR) of 3.8% during the forecast period.
Driving Forces:
The upswing in global construction and automotive industries is a primary catalyst for the expansion of the barrier systems market. Barrier systems find applications in a range of sectors including roadways, railways, commercial spaces, residential areas, and more. As infrastructural activities increase worldwide, the demand for barrier systems is on the rise, driven by factors such as safety, security, and operational efficiency.
Material Innovation:
The plastic segment is expected to exhibit the highest CAGR among the four materials (concrete, wood, metal, plastic). Plastic-based barrier systems are gaining prominence due to their lightweight nature, cost-effectiveness, durability, versatility, safety features, easy maintenance, sustainability, reusability, and simple deployment. These advantages position plastic as a key driver for market growth during the forecast period.
Functional Enhancement:
Within the two functions of barrier systems (active and passive), active barriers are anticipated to witness the fastest growth. Active barrier systems encompass dynamic, responsive, or interactive solutions designed to counter potential threats or hazards. With the integration of automation, real-time monitoring, and rapid response capabilities, these systems enhance safety and security across various sectors and industries.
Commercial Sector Uptick:
The commercial application segment is expected to experience the highest CAGR. Barrier systems are in high demand within the commercial sector, driven by the imperative of safety, security, and operational efficiency. Safety barriers, including fences, bollards, and drop arms, find deployment in commercial spaces like offices, factories, shopping malls, and theaters. The flexibility, adaptability, and advantages offered by barrier systems contribute to their adoption in commercial spaces.
Bollards on the Rise:
The bollards segment is projected to witness the highest CAGR among the six types (crash barrier systems, fences, bollards, drop arms, crash barrier devices, and others). With an increasing focus on safety and security in public areas, demand for bollards continues to grow in urban planning, commercial zones, transportation hubs, government facilities, and other locations requiring pedestrian safety and perimeter protection.
Asia Pacific Pinnacle:
Asia Pacific is set to register the highest CAGR in the barrier systems market during the forecast period. The region is witnessing extensive infrastructure development, including highways, roadways, and motorways. Countries like China, Japan, and India are making substantial investments to expand their infrastructure, thereby boosting the demand for barrier systems and contributing to market growth.
Market Dynamics:
Drivers
- Rising Spending on Infrastructural Development
- Increasing Road Crash Incidences
- Stringent Government Regulations and Obligations
Restraints
- High Maintenance and Repair Costs
Opportunities
- Increasing Opportunities in Emerging Regions
- Growing Construction and Automotive Industries
Challenges
- Interference of Highway Agencies
- Volatility in Raw Material Prices
Premium Insights:
Emerging Countries as Attractive Opportunities:
- Barrier systems offer lucrative prospects in emerging countries with rising infrastructure needs.
European Dominance:
- Germany leads the barrier systems market in Europe, reflecting its high adoption rate.
Crash Barrier Systems Leading the Way:
- The crash barrier systems segment is at the forefront, contributing significantly to the market.
Commercial Growth Trajectory:
- The commercial sector shows impressive growth, driven by safety and operational needs.
Australia's CAGR Surge:
- Australia is anticipated to record the highest CAGR, driven by extensive infrastructural developments.
Companies Mentioned:
- Ameristar Perimeter Security
- Arbus
- A-Safe
- Atg Access Ltd.
- Automatic Systems
- Barrier1 Systems, LLC
- Bekaert
- Betafence
- Cias Elettronica Srl
- Concentric Security
- Ct Safety Barriers Ltd.
- Delta Scientific Corporation
- Deltabloc International GmbH
- Global Grab Technologies Inc.
- Gramm Barrier Systems Ltd.
- Hill & Smith plc
- Lindsay Corporation
- Nasatka Security
- Nucor Steel Marion, Inc.
- Perimeter Protection Group
- Senstar Corporation
- Tata Steel Limited
- Transpo Industries Inc.
- Valmont Industries, Inc.
- Valtir, LLC
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 173 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $21.1 Billion |
| Forecasted Market Value (USD) by 2028 | $25.5 Billion |
| Compound Annual Growth Rate | 3.8% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/nt494m
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