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The Global Fencing Market to Progress at CAGR of 2.34% by 2028
Global fencing market
Triton Market Research's report infers that the global fencing market is anticipated to grow at a CAGR of 2.34% during the forecast period 2021-2028.
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Fences are used for various applications for residential or commercial spaces. They help in ensuring privacy, safety, and landscape beautification.
In recent years, consumers are opting to decorate their homes and surrounding property. Moreover, more people are conscious of home maintenance, resulting in repair and improvement activities. Additionally, the rise in house sales has influenced the demand for remodeling activities. As a result, fencing has become popular as it enhances the beauty and security of the premises. Hence, the rise in renovation activities is expected to open new avenues for the fencing market.
Geographically, the Asia-Pacific is likely to witness the fastest growth rate in the fencing market. The major factors supporting the growth of the market are the surge in population, along with an increase in construction activities in residential and commercial spaces. Furthermore, there is a rise in the renovation of old residences in the region, increasing the demand for fences. Above all, the increase in disposable income supports the growth of the fencing market across the APAC region.
The renowned companies in the fencing market are Associated Materials LLC, Poly Vinyl Creations Inc, Allied Tube and Conduit, Certainteed Corporation, Animex Fencing and Mitigation Solutions, Ply Gem Holdings Inc, Betafence NV, Ameristar Fence Products Incorporated, Gregory Industries Inc, Long Fence Company Inc, Bekaert, and Jerith Manufacturing Company Inc.
Presently, several international players are dominating the fencing market. Additionally, due to the medium level of threat of substitute products and new players, the competition level among existing players is likely to be high. In addition, the current players have a strong operational and R&D infrastructure, which further intensifies the competition.
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