The global fencing market size is projected to account for USD 41.7 billion by 2027, according to a new report by Million Insights. 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.
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.
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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.
• Key players operating in the market are Poly Vinyl Creations Inc., Associated Materials LLC, CertainTeed Corporation, Bekaert and Betafence NV among others.
Million Insights has segmented the global fencing market on the basis of material, distribution channel, installation, application, end use and region:
Fencing Material Outlook (Revenue, USD Million, 2016 - 2027)
• Plastic & Composite
Fencing Distribution Channel Outlook (Revenue, USD Million, 2016 - 2027)
Fencing Installation Outlook (Revenue, USD Million, 2016 - 2027)
Fencing Application Outlook (Revenue, USD Million, 2016 - 2027)
Fencing End-Use Outlook (Revenue, USD Million, 2016 - 2027)
• Petroleum & Chemicals
• Military & Defense
• Energy & Power
Fencing Regional Outlook (Revenue, USD Million, 2016 - 2027)
• North America
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)
• Saudi Arabia