Fencing Market Size, Share & Trends Analysis Report By Material (Metal, Wood), By Distribution Channel (Online, Retail), By Installation, By Application, By End Use, By Region, And Segment Forecasts, 2020 - 2027
The global fencing market size is anticipated to reach USD 41.7 billion by 2027, registering a CAGR of 5.2% over the forecast period. Growth in remodeling projects and real estate is projected to drive the market over the forecast period. Commercial sectors including academic organizations and industrial premises employ fences to enhance the safety of people and property.
The market is also driven by residential renovations and new construction projects.Security needs and transportation construction investments are also expected to drive the market growth.
In addition, the requirement of aesthetically appealing and novel property is expected to drive the demand for fencing. Governmental investments for promoting safety and security at public premises and parks further provide fencing industry growth prospects.
Consumer preferences largely depend on the design, cost, quality, and appearance of the fence.Cultivators increasingly opt for fences to protect their livestock and property.
Innovative materials that enhance durability at low costs would further add to market profits.
Currently, customers are inclined toward decorating their homes and premises.They also prefer more stylish homes to enhance their social status.
Consumers prefer picket fence as it is considered as the most decorative fencing options. Furthermore, fencing improves the curb appeal of the house, thereby creating growth opportunities for the market over the forecast period.
key findings from the study suggest:
• Metal fencing is expected to dominate the market through the forecast period. This is attributed to the increasing demand for high-end ornamental metal fencing in commercial and residential applications
• Numerous vendors are focusing on selling their products on e-commerce platforms as it helps businesses reduce operating costs and increase profit margins, thereby creating growth opportunities for the online segment over the forecast period
• On the basis of fencing installation, the contractor segment accounted for a significant share in 2019 as homeowners prefer contractors since they are more skilled, thereby reducing the chances of mishaps during installation
• The residential application segment is expected to witness lucrative growth over the forecast period. Increasing renovation and construction operations in the residential sector drives the demand for fences
• The agricultural segment is projected to register a significant growth rate over the forecast period owing to the increased adoption of fencing for protecting farms, livestock, and crops from trespassers and wild animals
• Increasing adoption of fencing products in government residential buildings, embassies, and VIP residences drives the government segment
• The Asia Pacific fencing market is expected to witness an increased demand for fences in agricultural applications. This is attributed to its evolving agricultural sector, especially in emerging countries such as India and China
• The market is characterized by intense competition with a highly fragmented market structure. It is led by several local manufacturers that meet consumer needs by offering cost-efficient products
• Key market participants include Gregory Industries, Inc.; Long Fence Company Inc.; Betafence NV; Jerith Manufacturing Company Inc.; Ply Gem Holdings Inc.; Poly Vinyl Creations Inc.; Allied Tube & Conduit; Ameristar Fence Products Incorporated; Associated Materials LLC; Bekaert; and CertainTeed Corporation
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