The global fencing market is expected to reach more than USD 40,730 million by 2026 with a CAGR of 5.3% during the forecast period as per a new study released by Polaris Market Research. The report “Fencing Market By Material (Wood, Metal, Concrete, Plastic, Others); By Application (Boundary Fencing, Privacy Fencing, Temporary Fencing, Others); By End-User (Residential, Agriculture, Government, Defense, Transportation, Energy and Power, Others); By Region Segments & Forecast, 2017 – 2026”. provides an extensive analysis of present market dynamics and predicted future trends.
North America is anticipated to be the significant contributor during the forecast period. The changing lifestyle of the people owing to increase in income level, especially in the developing countries such as China and India are expected to propel the demand for Fencings market.
Evolving construction industry, increase in disposable income, and renovation of residential buildings are expected to drive the market during the forecast period. Other driving factors include the development of public infrastructure and growing safety concerns. The government is continuously investing in public infrastructures such as museums, public places, parks, and government premises and this investment is expected to support market growth further. Growing demand in developing nations is anticipated to open a new avenue for growth during the forecast period.
The increasing incidents of security breach are promoting the need for safety and security. The growing industrialization is expected to drive the market demand over the forecast period. The increasing popularity of substitutes and demand for beāautified residential fences may offer new opportunities. The market is experiencing trends such as increased mergers & acquisitions and research & development activities that are critical to success.
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The market can be classified on the basis of materials as metal, plastic, wood, and concrete. In 2017, the metal fencing segment was the major contributor. Growing safety and security concerns is driving the demand for metal fencing in public places, government properties, and commercial buildings. The comparatively lower cost of plastic fences is expected to give them an advantage over other fencing materials. They are also lightweight and can be easily installed without any professional assistance. Wood fences stay unaffected for many years if properly maintained. The wooden fences are predominant in areas close to forests.
The end-use segment comprises the use of fencing in government, petroleum & chemicals, military & defense, mining, energy & power, transport, and other end-uses including data centers and enterprises.
North America accounted for majority market share in 2017 and was expected to dominate the market during the forecast period. The growing federal, and local government public spending, and high disposable income is expected to propel the demand in this region during the forecast period. The emerging trend of design and aesthetics contribute positively to market growth in the area. Asia-Pacific is expected to witness the fastest growth during the forecast period owing to increasing disposable incomes, growing need among residential sector to improve the aesthetic appeal of properties, an increase in construction of commercial buildings in this region.
The major vendors profiled in the report include Jerith Manufacturing Company Inc., Allied Tube & Conduit, Associated Materials LLC, Poly Vinyl Creations Inc., Fogarty PVC Fencing, CertainTeed Corporation, Veka AG, Hoover Fence, Ameristar Fence Products Incorporated, and Planet Polynet, among others. These industry participants have adopted various strategies, such as new product developments, partnerships, mergers and acquisitions, agreements, and collaborations, to achieve growth in the fencing market.
