The global fencing market size to reach USD 42.12 billion by 2026, growing at a CAGR of 7.83% during the forecast period.
CHICAGO, ILLINOIS, UNITED STATES, July 2, 2021 /EINPresswire.com/ -- In-depth analysis and data-driven insights on the impact of COVID-19 included in this global fencing market report.
The fencing market is expected to grow at a CAGR of over 7.83% during the period 2020−2026.
Key Highlights Offered in the Report:
1. The global fencing market would realize an absolute growth of 57.19% in terms of revenue in the period between 2020-2026.
2. Metal fencing segment accounted for majority share of the global market in 2020 and is expected to grow with an 8.40% CAGR during the forecast period.
3. The contractor segment dominated the global fencing market in 2020. However, DIY is witnessing higher growth rate with an CAGR of 7.99% during the forecast period.
4. The retail segment dominated the market with an 80.05% share in 2020 and is expected to add over USD 12 billion during the forecast period.
5. The residential segment dominated the market with a share of 23.07% in 2020 and is expected to grow at a CAGR of 8.83% during 2020-2026.
6. North America is largest market under the global fencing market with an expected incremental revenue of USD 4.95 billion with an absolute growth of 50.99% between 2020-2026.
Key Offerings:
• Market Size & Forecast by Revenue | 2020−2026
• Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
• Market Segmentation – A detailed analysis by material, installation, distribution channel, type, end-use, and geography
• Competitive Landscape – 4 key vendors and 28 other vendors
Fencing Market – Segmentation
1. According to the environmental concerns, aluminum in the metal segment is experiencing higher application as it has a higher recycling rate and lighter in weight compared to other metals. A high-performance metal fence is widely used in small industries as high-security applications where speed and production flow are higher, and safety is crucial. In India, Vedanta was the largest producer in the fencing industry, producing around 2.3 million tons.
2. Fence installation contractor is providing various advantages to business owners and homeowners. For big house projects, professionals are best for installing fences. Expert advice saves from costly fence installation errors, thereby fueling contractor fencing across the globe.
3. Retail sales of fences are higher than online sales, as consumers prefer to shop for the fences in retail stores. Distributors often select the offline retail channel as it enables them to operate their business without high investments in marketing funds. The sudden outbreak of the COVID-19 pandemic is fueling heavy demand in the online distribution channels due to the restrictions imposed by the government agencies.
Fencing Market by Material
• Metal
• Wood
• Plastic
• Concrete
Fencing Market by Installation
• Contractor
• Do-it-Yourself (DIY)
Fencing Market by Distribution Channel
• Retail
• Online
Fencing Market by Type
• Fixed
• Temporary
Fencing Market by End-Use
• Agriculture
• Military & Defense
• Government
• Petroleum & Chemicals
• Mining
• Energy & Power
• Warehouse & Storage
• Others
Fencing Market – Dynamics
Technological advancements have a considerable impact on all markets. For agricultural fencing, the use of traditional methods needs substantial work and scrutinizing. Advancements have shown a similar level of efficacy as compared to the traditional method. For example, virtual fencing is the latest innovation in the fencing industry, which works on GPS tracking system technology and causes a stimulus in the animal’s body via a neckband whenever the animal tries to go out of its designated vicinity. To keep the animal in the enclosed area, as a warning, an audio tone is produced at the virtual boundary. For the execution of virtual fences, animal welfare is the topmost priority. For comparing virtual fencing and electrical tape fencing, a study was conducted on cattle, and the result showed that virtual fencing is more efficient without any hazardous impact on the animal. This solution enables remote fencing and allows animals to move freely, which provides access to good, varied pastureland. The system comprises a solar-powered GPS collar.
Key Drivers and Trends fueling Market Growth:
• Growing Global Population and Real Estate Worldwide
• Beautified Residential Fences
• Rising Need for Fencing Across National Borders
• Rising Agricultural Projects and Need to Protect from Animals
Fencing Market – Geography
North America accounts for the largest share in the global fencing market, growing at a CAGR of 7.11% in the forecast period. The growth of the fencing market in North America is supported by rising investments in R&D for enhanced materials and increasing demand from the remodeling and renovation developments in the region. The strongest economic growth of the US and Canada, developments in industrial sectors, and the company’s expansions are driving the sales of fencing in North America. PVC fencing is gaining high traction, among other materials, due to the durability and versatility properties. The US is one of the major countries worldwide in PVC production. Planned industrial projects have witnessed a slump due to the economic slowdown and the COVID-19 pandemic in 2020. Around 91 projects of manufacturing or production plants, 74 distribution centers or warehousing, 32 new construction projects, 36 plant expansions, and 45 entailed renovations and equipment upgrades were expected in March 2020 in North America.
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Segmentation by Geography
• North America
o US
o Canada
• Europe
o UK
o Germany
o France
o Italy
o Spain
o Nordic
o Benelux
o Russia
• APAC
o China
o India
o Japan
o Australia
o South Korea
o Malaysia
• Latin America
o Brazil
o Mexico
• Middle East & Africa
o Saudi Arabia
o UAE
Major Vendors
• Bekaert
• Associated Materials
• Ameristar Perimeter Security
• Poly Vinyl Creations
Other Prominent Vendors
• Betafence
• Jerith Manufacturing
• Long Fence
• CertainTeed
• Gregory Industries
• Ply Gem
• Fiberon
• Specrail
• Barrette
• Titan Gate & Fence
• Siddal & Hilton Products
• Smart Fence
• Nemtek:
• A-1 Fence
• Dextra Square Private
• Hi-Coat
• Quickfence
• Cascade Fence & Deck
• AFTEC
• Jacksons Fencing
• Protective Fencing
• Australian Security Fencing
• CLD Fencing
• Hebei Jinshi
• Permacast
• Seven Trust
• GSM
• Specialized Storage Solutions
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