Press release
Fencing Market Future Demand, Global Research, Top Leading Players, Emerging Trends, Region by Forecast to 2029
Fencing protects the animals and crops from strangers and other wild animals. For example, as per the data published by the International Labor Organization, approximately 1.1 billion globally make a livelihood from agricultural activities, equating to 300-500 million daily wage workers. The focus on shielding personal property against thieves and other threats is facilitating the demand for fencing. It visually indicates the restriction against entering a personally owned property. In addition, fencing is also used in bungalows and private properties because of its aesthetic appeal, thereby boosting the market growth in the forecast period.
Impact of COVID-19
Halt on Production Activities to Slump Market Growth
This market is expected to slump during the COVID-19 pandemic because of the halt in manufacturing activities. This halt is attributable to government regulations to contain the spread of the virus. Lack of transport and raw materials is expected to adversely affect the production of fencing material, thereby hampering the market growth. However, the rising security concerns among consumers are likely to boost product demand.
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Segments
By type, the market is segregated into metal, wood, and concrete. On the basis of application, it is bifurcated into commercial use and residential use. As per the sales channels, it is classified into retail stores and online stores. Geographically it is clubbed into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Highlights of the Report
This report analyzes the top segments and the latest market trends.
The report comprehensively studies the driving and restraining factors and the impact of COVID-19 on the market.
It examines the regional developments and the strategies implemented by the market's key players.
Drivers and Restraints
Heavy Military Investment in Border Fencing to Foster Market Growth
The rising concerns of terrorist attacks are fueling the product demand. The military has invested heavily in border fencing to prevent the intrusion of citizens and enemies into military facilities. For example, as per the data published by the American Security Project in June 2018, the United States granted approximately USD 143 million to its MuwaffaqSalti Air Base situated in Azraq, Jordan. In addition,. the increasing applications of the product in tourist spots, shopping malls, decoration, and other sectors are expected to drive the fencing market growth.
However, fences of a lower quality are susceptible to damages caused by harsh environmental conditions, thereby hampering the market growth.
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Regional Insights
Increasing Single-Family Housing to Aid Growth in North America
North America is projected to dominate the fencing market share in the upcoming years because of the spike in single-family households. As per the data published by the US Census Bureau, approximately 9,03,000 households were completed in 2019. Additionally, fencing is used extensively to protect wild animals and forests from hunters and smugglers. Thus, this factor is expected to boost the market growth.
In Asia Pacific, stringent government regulations for the protection of specific areas in states and countries are likely to boost sales of the product. For example, as per the Ministry of Home and Affairs, parts of Jammu & Kashmir, Arunachal Pradesh, Manipur, Mizoram, Nagaland, and others are protected areas as per the Foreigners (Protected Areas) Order, 1958. Further, the rising construction activities in the area are expected to foster market growth.
Competitive Landscape
Key Players to Acquire Assets to Enhance Market Position
Certain key players in the competitive space have acquired assets to enhance their market position. For example, Merchant Metal acquired Continental Divide Fence in November 2018 to strengthen its market position. Furthermore, the players are focusing on the research and development of materials to enhance the strength of fences. The companies are using metal, wood, plastic, and other materials to improve their product quality.
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Industry Development
June 2020: LP Building Solution launched a novel range of 76 fencing series by partnering with home depot.
List of Key Players Profiled in the Fencing Market Report
Ameristar Fence Products Incorporated
Ply Gems Holdings Inc.
CertainTeed Corporation; Bekaert
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Contact Us:
Fortune Business Insights Pvt. Ltd.
9th Floor, Icon Tower,
Baner - Mahalunge Road, Baner,
Pune-411045, Maharashtra, India.
Phone:
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com
Connect us via Social Media Channels:
LinkedIn Facebook Twitter Blogs
About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
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