Impact of covid-19 on the Global Barrier Systems Market
The COVID-19 pandemic has impacted the global barrier systems market drastically. An increase in the number of residential and commercial spaces is boosting the demand for safety barriers, which include crash barriers, gates, and fences. The growing construction and automotive industries are responsible for the growth of the market. The COVID-19 pandemic has impacted both these industries significantly. The suspension of construction activities which has resulted in delayed construction projects and caused a slowdown in the manufacturing of commercial and passenger vehicles as well as other auto parts due to the lockdown is responsible for the declining demand for these gates, which in turn, is hampering the growth of the barrier systems market. The closing of all commercial spaces, as well as shopping malls, has decreased the use of barrier systems. Besides, the restrictions on travel have also reduced the use of barriers and the adoption of new barrier systems, which is also hindering the growth of the market. The global economic crisis caused due to the spread of COVID-19 has also impacted the market. The resumption of construction projects is expected to drive the growth of the market, post the pandemic.
Public share in infrastructure Investments in the Asia-Pacific, by Country (2019)