NEW YORK , June 22, 2022 /PRNewswire/ -- As per Zion Market Research study, The size of the global fencing market is expected to attain a value of USD 444.5 million in 2028, growing at a 5.55% CAGR during the forecast period from USD 300.01 million in 2021.
Key Industry Insights & Finding of the Fencing Market Reports:
As per the analysis shared by our research analyst, the Fencing Market is expected to grow annually at a CAGR of around 5.55 % (2022-2028).
Through the primary research, it was established that the Fencing Market was valued approximately USD 300.01 Million in 2021 and is projected to reach to roughly USD 444.5 Million by 2028.
The North American region amounted for about 40.0 percent of the total market.
The middle-class demographic in these regions is predicted to invest in over 75.0 percent of global fence purchases.
Due to the expanding agricultural sector of rising nations such as India and China , Asia Pacific region is expected to gain momentum throughout the forecast period. India's urban growth and rising investment in infrastructure reforms are likely to boost the market in the region.
Zion Market Research published the latest report titled as "Fencing Market By Material (Metal, Wood, Plastic, Concrete, & Others), By Products (Fixed Fencing, & Temporary Fencing), By End-Use (Residential, Commercial, Industrial, Agricultural, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2028." into their research database.
Fences are detachable additional constructions that are manufactured and meant to prevent strangers from breaching a traditional border. A fence is differentiated from a wall by its strength; typically, a fence is weaker than a wall. Privacy fencing is used to keep unwanted visitors and livestock outside the venue, stylish fencing is used to improve the artistic attractiveness of the property, temporary fencing is used to provide control & safety access to building sites, and boundary fencing is used to clearly differentiate property boundaries.
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Growth in middle-class population increases the demand for fences all over the world.
The rise of the middle class is supporting the expansion of the fencing business. The emerging middle class is anticipated to rise to 5.5 billion people by 2030, as per the European Commission. Asians will make up 87 percent of the increased middle-class population. The rise of the fencing market is being fueled by rising house construction and a comeback in building completions. Growth in the estate market as a result of an increment in the number of businesses and increased investment in the building industry is also contributing to the growth of the global fencing market.
Fluctuating fence prices and unstable economic conditions due to COVID-19 pose threat to market.
Raw material costs are fluctuating continuously due to unstable economic conditions all over the world due to pandemic and lockdowns. Metals used in fencing have become more expensive in several parts of the world. When the economy reopened and recovered from the over-a-year-long COVID-19 epidemic, the cost of goods such as aluminum, wood, and others had risen drastically. Economic activity in the global fencing market also slowed as a result of the epidemic.
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Increased use of electric fencing to seal international borders and for agricultural purposes to provide growth opportunities.
Electric fence is being used by many military forces throughout the world to deter incursion near international boundaries. Over the disputed border with India , China's military services prefer to lay down spiked electric wires in the Ladakh valley. To safeguard the China -Russia border, Russia's militaries installed an electric fence. As a result, market development is expected to be aided by the increased focus on national security. An electric fence is far more impactful for farm safety since it prohibits wild animals from entering without permission. The industry is expected to grow as farm owners increasingly use electric fences to protect their land from animals in the wild.
High price associated with upgradation & maintenance of electric fences pose a challenge.
The high price of upgrades and maintenance associated with replacing traditional electric fences makes it difficult to conduct frequent inspections to ensure optimal performance. Its expansion is hampered by hefty maintenance expenses. Farmers are seeking other solutions, like unmanned stems, to offset the high fixed costs linked with the necessity to deploy barriers over international boundaries, which may stifle market expansion.
The global fencing market may be divided into four categories based on material: plastic fences, metal fences, concrete fences, wood fences, and other.
Metal fence is by far the most popular material in the worldwide fencing industry. Due to its long-term reliability and low maintenance and repair needs, the plastic fence category is anticipated to rise at the highest pace in the future years. Composite, vinyl, and high-density polyethylene (HDPE) fences are examples of this type.
Based on product, the fence can be divided as temporary and permanent, where the temporary segment is expected to depict a steady rise in the forecast period.
Based on the end-user, the fencing market has been segmented into residential, commercial, industrial, agricultural, and others. Throughout the projection period, residential is expected to be the most popular application category and is likely to rise due to an increase in building and renovation activity. Moreover, increased disposable income combined with increasing consumer attention to home repair activities is anticipated to fuel demand for residential fences over the period.
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List of Key Players of Fencing Market :
Allied Tube & Conduit Corporation
Key questions answered in this report:
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By Product Type, By Application, and By End Use
Value (USD Billion), and Volume (Units)
Revenue in USD million/billion and CAGR from 2022 to 2028
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Associated Materials LLC, Jerith Manufacturing Company Inc., Gregory Industries Inc., Poly Vinyl Co. Inc., Ply Gem Holdings Inc., Ameristar Fence Products Inc., CertainTeed Corporation, Allied Tube & Conduit Corporation, and Bekaert SA.
Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
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In 2019, several companies such as JVA technologies introduced a new product in the market, based on electric fencing with IoT systems. One of the most prominent products was Jumbo Electric Fence Energizer series which includes a whole CPU unit with a monitor and keyboard for control, and can be connected top devices through Wi-Fi.
In 2021, two major companies in the fencing industry namely, Datamars SA and Cabi Group collaborated together as partners to increase the market of Speedrite Electric fencing in France.
Europe and North America lead the global fencing market followed by Asia Pacific .
Over the forecast period, Europe and North America are expected to be the most important regions. The regional market is expected to develop as building activities increase and demand for ornamental home items rises. In 2021, the North American region amounted for about 40.0 percent of the total market. The middle-class demographic in these regions is predicted to invest in over 75.0 percent of global fence purchases.
Due to the expanding agricultural sector of rising nations such as India and China , Asia Pacific region is expected to gain momentum throughout the forecast period. India's urban growth and rising investment in infrastructure reforms are likely to boost the market in the region.
Global Fencing Market is segmented as follows:
Fencing Market : By Material Outlook (2022-2028)
Fencing Market : By Product Outlook (2022-2028)
Fencing Market : By End-Use Outlook (2022-2028)
Fencing Market : By Region Outlook (2022-2028)
Rest of Middle East & Africa
Press Release For Fencing Market : https://www.zionmarketresearch.com/news/global-fencing-market
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