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Crash Barrier Systems Market - Market Leader are Tata steel Europe (UK), NV Bekaert S.A. (Belgium), Valmont Industries, Inc. (UK)

06-14-2021 05:47 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: MarketsandMarkets.com

Crash Barrier Systems Market - Market Leader are Tata steel

The global crash barrier systems market size is estimated to grow from USD 7.6 billion in 2021 to USD 9.0 billion by 2026, at a CAGR of 3.3% during the forecast period. The market is projected to witness decent growth in the near future, owing to growing construction and automotive industries throughout the world. Increasing demand from APAC will further drive the growth of the global crash barrier systems market.

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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). among others are the leading crash barrier systems manufacturers, globally. These companies adopted new product launch, expansion, partnership & collaboration, and merger & acquisition as their key growth strategies between 2017 and 2020 to earn a competitive advantage in the crash barrier systems market.

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.

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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.

Recent Developments :
• In December 2019, Valmont Industries, Inc. 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.
• In March 2019, Nucor Corporation announced that it would build its new state-of-the-art steel plate mill in Brandenburg, Kentucky, located along the Ohio River, southwest of Louisville. The company will invest approximately USD 1.35 billion to build the mill, which will be capable of producing 1.2 million tons per year of steel plate products. The new plate mill will significantly strengthen Nucors plate product portfolio.
• In August 2019, Lindsay Corporation launched ABSORB-M, a new, non-redirective, water-filled crash cushion system. Tested to the American Association of State Highway and Transportation Officials (AASHTO) Manual for Assessing Safety Hardware (MASH) Test Level TL-2 and TL-3 standards, the ABSORB-M is suited for narrow areas where road and workspace are limited.

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