Barrier Systems Market Was Valued at USD 21,6433 Million In 2021, Rapid Growth in Construction Industry

According to Precision Business Insights (PBI), the latest report the global barrier systems market was valued at USD 21,643.3 million in 2021 and projected to grow at a 4.1% CAGR over 2022 to 2028.
The global automotive and construction sectors' better performance is projected to fuel the barrier systems market. The rising per capita income of the middle-class population has increased the number of car sales and, consequently, the need for new road infrastructure. During the analysis period, these factors may promote demand for road safety goods, hence propelling the worldwide barriers systems market. Furthermore, rising urbanization in emerging countries such as India and China have raised the demand for construction items and equipment, favorable impacting the worldwide barrier systems market

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The Plastic Segment is Dominating the Barrier Systems Market:
Based on the material type, the barrier systems market is segmented into plastic, metal, concrete, and wood. The plastic segment is anticipated to grow in the forecasting period owing to environmental concerns, declining disposal capacity, regulatory demands, economic considerations, and conservation initiatives that have recently affected policy on the recycling of various waste materials and by-products. Research and transportation agencies have lately conducted experiments investigating recycled materials in roadside safety devices such as plastic. The Ontario Ministry of Transportation funded research to assess the technical and economic feasibility of utilizing waste plastics and rubber for non-structural roadway goods.

North America Leads Barrier Systems Market:
North America is expected to hold a significant market share in the global Barrier Systems market and is projected to grow at a prominent growth rate over the forecast years owing to region's military and defence industries are heavily relying on barrier systems to boost security and protect residents from cross-border conflict threats. Consumer preference for strong and long-lasting building materials, such as fences, is likely to drive regional market expansion.

Strategic New Product Launches, Mergers, Acquisitions and Agreements are the key strategies adopted by market players:
Global Barrier Systems market further reveals that the key players increasingly adopting strategies such as launch of newer products, product launches, and long-term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance,August 2019: Lindsay Corporation launched ABSORB-M, a new, non-redirective, water-filled crash cushion system. The product is suited for unanchored and anchored barriers. With this launch, the company would expand its product line.

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The barrier systems market is segmented based on type, basis on energy source, end use andgeography.
By Material
o Plastic
o Metal
o Concrete
o Wood

By Type
o Fences
o Crash barrier systems
o Crash barrier devices
o Bollards
o Drop arms
o Others

By Function
o Active
o Passive

By Application
o Roadways
o Railways
o Commercial
o Residential
o Others

By Geography
o North America
o Europe
o Asia-Pacific
o Latin America
o Middle East and Africa (MEA)

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Key player's profiles in the Barrier Systems Market report Tata Steel Limited (India), Bekaert SA (Belgium), Trinity Industries Inc. (U.S.), Lindsay Corporation (U.S.), Valmont Industries Inc. (U.S.), Hill & Smith Holdings PLC (U.K.), Future Net Group (U.S.), Delta Scientific Corporation (U.S.), Automatic Systems SA (Belgium), Barrier1 Systems Inc. (U.S.).

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