North America Metal Fencing Market share growing at CAGR of over 4% from 2016 to 2023: Global Market Insights Inc.
North America metal fencing market size was valued around USD 4,000 million in 2015 and is likely to grow at a CAGR of over 4% from 2016 to 2023. This can be primarily attributed to rising demand for safety and security.
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North America metal fencing market size accounted for over 50% of the global revenue share in 2015. The prime reason for metal fences deployment in residential, agricultural and commercial sectors is to provide security and safety. In addition, it is also utilized to improve the aesthetics of buildings and construction properties. Increasing customer’s interest towards home improvement and home decor, the industry is expected to witness significant gains over the forecast period.
Increasing demand for barbed wire fencing is expected to drive the industry demand. It offers superior security as compared to other types of fences. Metal fences are ideally deployed for additional privacy and security. Pins can firmly lock into the rails and post as a barrier to the intruders while still being attractive. The strength of wrought iron fences protect against dreadful whether and are ideally used in residential and commercial sectors. In addition, these fences are furnishing with e-finish coating that offers maintenance free protection and also resists corrosion.
Mesh fencing is available in welded mesh or metal mesh and has experienced an impressive surge in popularity over the last few years. This type of fencing is strong as well as durable and mostly used in an extensive range of applications such as anti-climb, high security fences, integrated sliding gates, anti-ram, sports areas, boundary fencing and spectator enclosures. In addition, these fencing are much affordable as it provides immense value and less maintenance costs.
Growing demand for decorative home products and construction activities are anticipated to fuel the demand growth over the forecast period. Rising housing rebounds or constructions in housing completions coupled with increasing consumer interest in home décor and home improvement are likely to fuel the industry demand. However, rising energy cost as well as volatile raw material prices are expected to hinder industry growth. Development of attractive and innovative fences is likely to act as potential growth opportunity over the forecast period.
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The industry has been bifurcated based on end use and product type. By end use, the industry is classified as industrial, residential and agricultural. Agricultural wire fence and commercial wire fence are the key product types. Residential sector is likely to grow at high CAGR over the forecast period owing to the mounting remodeling products and construction activities. Industrial segment may likely to witness growth owing to increasing demand from colleges, industrial premises and schools. Moreover, proliferating need to protect crops, farm areas and farm animals from crooks and wild animals are expected to fuel the industry demand in agricultural sector.
The U.S metal fencing market share is primarily driven by mounting installation of high value fences such as composite fencing and ornamental metal. In addition, increasing adoption of these materials based on their performance advantages and aesthetic by customers in the region is likely to surge the demand growth.
Key competitors for North America metal fencing market share includes Jacksons Fencing, Westlake Chemical, Walpole Woodworkers, VEKA, Universal Forest Products, Trex Company, TENAX International, Tarter Farm and Ranch Equipment, Superior Concrete Products, Southwestern Wire, Sonco Worldwide, Richard's Fence, Poly Vinyl Company, Pexco, P&F Industries, Merchants Metals, Long Fence Company, Master Halco, Jerith Manufacturing, ITOCHU, Genova Products, Fiberon, D&D Technologies, CRH, Chamberlain Group, Builders Fence Company, Alside and Allan Block among others.
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