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Fencing Market 2024 - By Size, Industry Scope, Global Share, Key Country Analysis And Forecast To 2033
Fencing Market
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According to The Business Research Company's, The fencing market size has grown strongly in recent years. It will grow from $30.36 billion in 2023 to $32.18 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to security concerns, growth in residential construction, increased urbanization, agricultural needs, property boundaries.
The fencing market size is expected to see strong growth in the next few years. It will grow to $39.89 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to residential renovation, sustainable and eco-friendly fencing, rising land prices, customization and innovative designs, green building initiatives. Major trends in the forecast period include smart fencing systems, vertical gardens and green fencing, laser-cut and decorative panels, modular and diy fencing, solar-powered fencing.
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Market Drivers and Trends:
The increase in urbanization is significantly contributing to the growth of the fencing market. Urbanization refers to the movement of mass population from rural areas to urban settings, which results in the increasing human population densities in urban areas. The need for residential and non-residential structures is expanding as a result of urbanization, which will propel the fencing industry forward. The rise of the middle class is supporting the growth of the fencing business. Therefore, increasing urbanization is expected to propel the growth of the fencing market going forward.
Growing strategic partnerships and collaboration are the key trends gaining popularity in the fencing market. Major companies operating in the fencing sector are focused on partnerships and collaborations in order to expand their expansion into new areas and become industry leaders. For example, in March 2021, Binford Supply, a US-based private equity firm, partnered with Fencing Supply Group, a US-based wholesale distributor of fencing and outdoor living products, to continue to support the platform through organic growth initiatives as well as an active acquisition strategy.
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Major Key Players of the Market:
Allied Tube & Conduit Corp, Ameristar Fence Products Incorporated, Bekaert Corporation, CertainTeed Corporation, Long Fence Company Inc., Poly Vinyl Creations Inc., Fortress Building Products, Master-Halco Inc., Stephens Pipe & Steel LLC, Jerith Manufacturing LLC, Pexco LLC, Betafence NV, Trex Company Inc., Barrette Outdoor Living Inc., Gregory Industries Inc., Wheatland Tube Company, BIFFERdil Group, AmeriFence Corporation, Merchants Metals, Royal Building Products, Dura Fence, Eastern Wholesale Fence Co. Inc., Illusions Vinyl Fence, Nationwide Industries Inc., Universal Forest Products Inc., Homestead Vinyl Products Inc., Country Estate Fence, Weatherables, Ply Gem Holdings Inc.
Fencing Market 2024 Key Insights:
• The fencing market size is expected to see strong growth in the next few years. It will grow to $39.89 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%.
• Rising Urbanization Fuels Fencing Market Growth
• Strategic Partnerships Drive Industry Fencing Market Growth
• North America was the largest region in the fencing market in 2023 and is also expected to be the fastest-growing region in the forecast period
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