The new report by Expert Market Research titled, ‘Fencing Market Report and Forecast 2023-2028’, gives an in-depth analysis of the global fencing market, assessing the market based on its segments like material, distribution channel, installation, application, end use, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2020): USD 28 billion
- Forecast CAGR (2023-2028): 6.4%
- Forecast Market Size (2026): USD 41 billion
The expanding use of fence in the residential and agricultural sectors is propelling the global fencing business forward. Over the projection period, increased population and rising disposable income in emerging economies are predicted to boost market expansion in the residential sector, which will in turn boost fencing demand. Furthermore, in the agricultural sector, a fence is an important component since it protects the land from wild animals that could harm the crops. The residential and agricultural fences are designed to keep thieves and animals out, thereby increasing privacy and security.
Industry Definition and Major Segments
A barrier, railing, or other upright structure, often constructed of wood or metal, that is put outside the house to prevent escape or intrusion is referred to as fencing.
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Based on material, the market covers:
• Metal
• Wood
• Plastic and Composite
• Concrete
Based on distribution channel, the market is segmented into:
• Retail
• Online
Based on installation, the market is bifurcated into:
• Do-It-Yourself
• Contractor
Based on applications, the market is segmented into:
• Residential
• Agricultural
• Industrial
Based on end use, the market is divided into:
• Government
• Petroleum and Chemicals
• Military and Defence
• Mining
• Energy and Power
• Transport
• Others
The major regional markets include:
• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa
Market Trends
The increased construction of building structures and dwellings in North America has fueled the rise of the fence business in the region. Furthermore, the market is likely to benefit from residents’ increasing investments to improve the visual attractiveness of their homes. Fencing adds to the house’s security and aesthetic appeal, making it appear more elegant and welcoming.
The metal fence sector accounts for a major proportion of the market in terms of material, and it is expected to increase at a significant rate throughout the forecast period. This is due to the increasing popularity of aluminium fence, which is characterised by its adaptability, durability, low maintenance, cost-effectiveness, affordability, and strength, among other things. Metals, in addition to being sturdy, enhance the structure’s aesthetic appeal and are available in a variety of design alternatives to suit a variety of styles and demands. Meanwhile, due to its ease of installation, the wood fence segment is expected to develop at a high rate over the projection period. Wood fencing is relatively easy to install and can be very appealing to the owners.
Key Market Players
The major players in the market are Atkore International, Ameristar Perimeter Security, Bekaert, Betafence, CertainTeed Corporation, Gregory Industries, among others.
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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
