Fencing Market Analysis and Future Growth Prospects By 2027

Felton, California , USA, Nov 26, 2020 — /EPR Network/ — The global fencing market size is projected to account for USD 41.7 billion by 2027. The market is anticipated to register over 5.0% CAGR from 2020 to 2027. Increasing development in real estate and renovation of the construction industry is attributing to the growth of the market. Residential and commercial infrastructures such as academic organizations, offices, households along with industrial premises install fences to safeguard the properties.

Increasing security needs in transportation and construction are also estimated to drive the fencing demand. End-use industries are increasingly demanding aesthetically appealing and innovative designed fencing. Further, the rise in government spending on the protection of public premises and institutional infrastructure is supplementing the market growth.

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 Impact of COVID-19

COVID-19 outbreak has adversely affected the demand for the market. The pandemic has led to the closure of various end-user industries such as real estate, manufacturing, transport and energy & power among others; as a result, there has been a significant decline in the growth of the market. In addition, lack of raw materials owing to the disruption in the supply chain has led to low production of fencing products.

With the reopening of various economic activities, construction activities have restarted, which, in turn, will supplement the demand for fencing. However, achieving the pre-COVID-19 level growth is estimated to take two to three years. Companies can focus on launching cost-effective and durable fencing products to gain a larger consumer share.

Customers are more inclined towards quality, cost, appearance and design of the fences. Farmers are increasingly opting for a fencing solution to ensure the safety of their livestock and other farming properties. Introduction of low cost and durable products is further anticipated to boost fencing market growth.

The rise in purchasing power has led to an increase in demand for the decoration of homes and building premises. Home is considered as a way to enhance an individual’s social status, which led to a rise in spending on home decoration. The demand for picket fence has increased considerably owing to its aesthetically appealing design.

Further key findings from the report suggest:

  • Among different materials, metal fencing is anticipated to account for the highest share in the market during the forecast years.
  • E-commerce sales are gaining traction among vendors as they help them in increasing their profit margin.
  • Depending on the installation, the contractor segment dominated the market in 2019 and anticipated to continue its domination over the forecast duration.
  • The residential segment is likely to account for the maximum share from 2020 to 2027.

Top Key players profiled the Fencing market report include : Poly Vinyl Creations Inc., Associated Materials LLC, CertainTeed Corporation, Bekaert and Betafence NV among others.

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