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Crash Barrier Systems Global Market Report 2024 To 2033 | Tata Steel Limited, Nucor Corporation, N.V. Bekaert SA, Valmont Industries Inc, Hill and Smith Holdings PLC
Crash Barrier Systems Market Forecast
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According to The Business Research Company's, The crash barrier systems market size has grown strongly in recent years. It will grow from $6.34 billion in 2023 to $6.71 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to strong economic growth in emerging markets, the increasing construction activities, rapid growth of the automotive sector, and the increasing infrastructure development..
The crash barrier systems market size is expected to see strong growth in the next few years. It will grow to $8.27 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. The growth in the forecast period can be attributed to the increasing number of traffic accidents, the rising urbanization, and the increasing government support. . Major trends in the forecast period include the crash barrier systems market include launch of new road safety barriers, focus on road zipper barriers, product innovations, technology advancement, and strategic partnerships and collaborations..
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Market Drivers and Trends:
The increasing government investments in infrastructure development are expected to propel the growth of the crash barriers systems market. The increase in government investments in infrastructure development has boosted the demand for effective crowd control solutions, such as car parking areas, entry, and exit, or pedestrian safety, which rely on crash barrier systems including bollards, swipe gates, drop arms, and guardrails. For instance, in 2021, the Indian government has given a massive push to the infrastructure sector by allocating 217 projects worth Rs. 1.10 lakh crore (USD 15.09 billion). Thus, the government's investments in infrastructure development drive the crash barriers systems market.
Companies in the crash barrier systems market are focusing on launching new road safety barriers to strengthen their product portfolio. Road safety barriers are used on roads to help manage traffic effectively and efficiently. The instruments are beneficial since they function to warn drivers against taking their automobiles down the wrong road. For example, in May 2023, Ostrava, a Czech Republic-based company that manufactures safety steel road and bridge barriers, launched two new types of steel barriers. Despite an increase in traffic density on roads and highways, they have been implemented to further enhance passive safety. Both sets of barriers, which are built with as many identical components as possible, underwent and completed a test in which they had to withstand being struck by a 16-ton truck. Additionally, the barriers were created to be as simple to assemble as feasible and to allow for the future testing of safety barriers with a varied beam profile while still keeping all other components.
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Major Key Players of the Market:
Pearson plc, Quest Diagnostics, Koninklijke Philips N.V, Cogstate Ltd, CogniFit Ltd, Cambridge Cognition Ltd, MeritTrac Services Pvt Ltd, WIRB-Copernicus Group, Signant Health, BrainCheck, MAX Solutions, Looxid Labs, Newbase, VETASSESS, MRWED, TALi Health, Sensus Cognition, Gradians.com, APTitude, QuodeIT, Kareermatrix, Mytat, CALCI, Vprep, Medavante-Prophase Inc., pymetrics, Inc., Lumos Labs, Inc., ACE Applied Cognitive Engineering Ltd., Arrowsmith Program, BrainWare Learning Company, Total Brain, VeraSci, Berke, Neurotrack, Lumosity, Brain9D
Crash Barrier Systems Market 2024 Key Insights:
• The crash barrier systems market size is expected to see strong growth in the next few years. It will grow to $8.27 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%.
• Government Infrastructure Investments Drive Surge In The Crash Barrier Systems Market
• Companies Expand Product Portfolios With Launch Of Advanced Crash Barrier Systems
• Europe was the largest region in the crash barriers market in 2023
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