The global Barrier Systems Market Size was estimated to be valued at a market sum of USD 31.11 Billion during the historic forecast period that had ended in 2020. The global Barrier Systems Market is projected to reach USD 61.81 Billion by 2030 and is expected to witness a 3.58% CAGR during the forecast period. The burgeoning development and automotive industries are driving the global barrier systems market. The number of residential and business spaces is increasing, which increases the demand for safety barriers such as gates, crash barriers, barricades, and so on. The Barrier Systems Market Growth is being fueled by an expanding roadway and railway network. Furthermore, rising per capita income has resulted in an increase in the number of personal and public transportation vehicles, as well as the number of roads, resulting in an increased demand for barrier systems.
The COVID-19 pandemic has had a significant impact on the Global Barrier Systems Market. As the number of residential and commercial spaces grows, so does the demand for safety barriers such as crash barriers, gates, and fences. The expanding construction and automotive industries are driving the market growth. The COVID-19 pandemic has had a significant impact on the Barrier Systems Industry. Due to the lockdown, the suspension of construction activities has resulted in delayed construction projects and a slowdown in the manufacturing of commercial and passenger vehicles as well as other auto parts, which are causing a decline in demand for these gates, hindering the Barrier Systems Market Growth. The closure of all commercial spaces has resulted in a decrease in the use of barrier systems decreasing the Barrier Systems Market Value.
Furthermore, travel restrictions have reduced the use of barriers and the adoption of new barrier systems, which is impeding the market growth. The global economic crisis brought on by the spread of COVID-19 has also had an impact on the market. Following the pandemic, the resumption of construction projects is expected to drive the Barrier Systems Industry and Barrier Systems Market Share.
The growing number of road accidents and fatalities has fueled the growth of the barrier systems market. Road safety regulations and public awareness have grown rapidly in recent years. As a result, the expanding barriers across highways and roads have improved at the same time, particularly in developing APAC countries. Furthermore, rising per capita income has resulted in an increase in the number of personal and public transportation vehicles, as well as the number of roads, resulting in an increased demand for barrier systems and growth in the Barrier Systems Market. The key markets players have been recognized under the head of the global market competition owing to the recent developments that have been undertaken by them are as follows:
The major driving force of the market and the increased Barrier Systems Market Value is because of the expanding construction and automotive industries; the global barrier systems market has reached new heights. Due to the proliferation of population and urbanization, there has recently been a significant increase in the number of commercial and residential spaces, which has induced the demand for safety barriers such as gates, crash barriers, fences, and similar.
On the other hand, the networking of roadways and railways is expanding, which is approaching safety inclusions utilizing barrier systems. These factors are positively impacting the global Barrier Systems Market size. Seeing the light on increasing usages of barriers and supporting barrier systems, significant factors are driving the market with a higher CAGR. These factors are expected to significantly accelerate the Barrier Systems Market Share for the forecast period ending in 2030. Furthermore, the increase in commercial real estate investments, such as entertainment complexes, institutional and residential buildings, has added an advantageous factor in the growth of the barrier systems market and proved to be the major driver of the barrier systems market.
The major restraint of the barrier systems market is the high cost and high maintenance of the barriers but it is considered as a hurdle for a little time. Also, timely repair and a skilled workforce is required to maintain and do the needful for the barrier systems market. There are more safety concerns and safety regulations are required for the maintenance of the barrier systems market. Though many enterprises and government manufacturers or dealers are investing a huge amount of share of the economy on the quality of the barrier systems market to make the process safer, still it is a time-consuming process and will need more assistance.
Because of the expanding infrastructure and automotive industries, global competition in the barrier systems market is increasing significantly. Manufacturers have begun to use advanced techniques/methods to make barrier systems safer as new technologies emerge. The study's base year is 2021 and the market size is projected from 2022 to 2030. The CAGR is expected to grow at a projected rate and the barrier systems market share is also expected to rise significantly. The major Barrier System distributors/suppliers include Tata Steel Limited (India), Bekaert SA (Belgium), Trinity Industries, Inc. (U.S.), Lindsay Corporation (U.S.), Valmont Industries Inc. (U.S.), Future Net Group (U.S.), Delta Scientific Corporation (U.S.), A-Safe (U.K.), and Avon Barrier (U.K.), as well as government and environmental protection bodies that assist manufacturers in the development and growth of barrier systems.
The global barrier systems market is further bifurcated into various segments depending on various factors in order to help the market grow as per the predicted CAGR growth by the end of the future forecast period in 2030. The market has been segmented based on the following:
With its rapidly expanding global market, APAC dominates the global barrier systems market. The region is expected to experience rapid economic and infrastructure development. Roadways and railways are expanding in China and India as a result of massive infrastructure investment. The increase in foreign investment in India expands the market for barrier systems. Over the forecast period, the market is expected to grow at a faster CAGR. North America is followed by APAC which is expected to grow rapidly to millions by 2021. Europe and the rest of the world, on the other hand, are expected to grow at significant CAGRs over the forecast period ending in 2030.
The Global Barrier Systems Market report includes extensive primary research as well as a detailed analysis of qualitative and quantitative aspects by various industry experts and key opinion leaders to gain a deeper understanding of the market and industry performance. The report provides a clear picture of the current market scenario, including historical and projected market size in terms of value and volume, technological advancement, macroeconomic factors, and market governing factors. The report contains detailed information and strategies of the industry's top key players. The report also provides a thorough examination of the various market segments and regions.
|Market Size||2030: Significant Value|
|CAGR||2030: Substantial CAGR|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||by Material, By Type, by Function, by Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Bekaert SA, Delta Scientific Corporation, Gibraltar, Tata Steel Limited, Trinity Industries Inc., FutureNet Group Inc., Automatic Systems SA, Lindsay Corporation, Hill & Smith Holdings PLC, Barrier1 Systems Inc., FutureNet Group, Valmont Industries Inc., A-Safe Ltd., and Avon Barrier Corporation Ltd.|
|Key Market Opportunities||
|Key Market Drivers||
The market is expected to grow at a CAGR of 3.58% by the end of the forecast period in 2030.
The segments discussed are plastic, concrete, metal, and others.
The types included are beam barriers, bollards, guardrails, and others.
The applications discussed are residential, railways, roadways, and others.
The Asia – Pacific or APAC region is likely to witness the maximum market growth.
The barrier systems market would be backed by emerging construction and automotive industries.