Crash barrier systems Market to reach $9.0 billion by 2026 - Market Leaders & COVID-19 Impact
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Roadside Barriers is expected to be the fastest growing application in the Crash barrier systems market during the forecast period.
The market is witnessing growth because of the increasing usage of guardrails and wire ropes on highways and roadways across the globe. With the application of crash barriers on roadside and on the middle of the road, the motorists are shielded from natural or man-made obstacles such as retaining walls, traffic signals, trees, and culverts that are located on either side of the roadways. It accounted for a share of about 54.3% of the Crash barrier systems market, in terms of volume, in 2019.
Europe is expected to hold the largest market share in the global crash barrier systems market during the forecast period.
Europe accounted for the largest share of the Crash barrier systems market in 2020. The market in the region is growing because of the willingness of companies in the region to take up capital-intensive projects, along with the availability of technical expertise.
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Tata steel Europe (UK), NV Bekaert S.A. (Belgium), Valmont Industries, Inc. (UK), Trinity Industries Inc (US), and Nucor Corporation (US). are the leading crash barrier systems manufacturers, globally.
Tata Steel Europe is the largest player in the market. The company has adopted crash barrier manufacturing techniques by integrating all operations. Through extensive R&D activities, it has come up with innovative products such as Vetex road safety barriers and off-road safety barriers. It is also focusing on making investments in its high value-added businesses and also entering into various contracts with major players in the crash barrier systems market.
Valmont Industries, Inc. is the second-largest player of the crash barrier systems market, globally. In December 2019, the company introduced HighwayGuard LDS, which is a MASH 16 TL-3 compliant steel safety barrier. It has a T-connector, which provides quicker installation, removal, and separation of barrier sections. It also offers the ability to remove sections within a run to create access gaps, replace damaged sections or alter barrier runs.
COVID-19 Impact on the Crash barrier systems Market
The global Crash barrier systems market includes major Tier I and II suppliers like as Tata steel Europe (UK), NV Bekaert S.A. (Belgium), Valmont Industries, Inc. (UK), Trinity Industries Inc (US), and Nucor Corporation (US). These suppliers have their manufacturing facilities spread across various countries across Asia Pacific, Europe, North America, and Rest of the World. COVID-19 has impacted their businesses as well.
These players have announced the suspension of production due to the lowered demand, supply chain bottlenecks, and to protect the safety of their employees in the US, France, Germany, Italy, and Spain during the COVID-19 pandemic. As a result, the demand for crash barrier systems is expected to decline in 2021. Manufacturers are likely to adjust production to prevent bottlenecks and plan production according to demand from tier 1 manufacturers.
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