Crash Barrier Systems Market sum worth USD 9.0 billion during the forecast period of 2021-2028 With market is expected to attain this value at a global CAGR of 3.3%.
The crash barrier systems market size was projected to grow and was valued to have reached a final market growth of USD 7.6 billion during the historic forecast period that had ended in 2019. Similar trends are expected to follow for the market during the period that is following the outbreak of the pandemic in 2020. The global market is likely to witness a global market sum worth USD 9.0 billion during the forecast period of 2021-2028. The market is expected to attain this value at a global CAGR of 3.3% during the forecast period that will be ending in 2028.
The crash barrier systems market is likely to be driven by the growing construction and automotive industry as suggested by the business chiefs and industry experts. The prominent driving factor for Crash barrier systems market during the ongoing forecast period that will be ending in 2028 is its growing construction and automotive industries across the world and especially in the participating regions for the target audience that is situated in various locations in the market premises.
The sudden outbreak of the novel coronavirus had the functioning of the crash barrier systems market under its aura of impact, as well. The global Crash barrier systems market includes major and trusted Tier I and II suppliers like Tata steel Europe (UK), NV Bekaert S.A. (Belgium), Valmont Industries, Inc. (UK), and others like Trinity Industries Inc (US), followed by Nucor Corporation (US). these are profound names that are holding a major market momentum and target customers that are located in a series of locations in the global market premises. These market suppliers have put forward their manufacturing facilities and spread them across various countries across various regions like Asia Pacific, Europe, North America, and the rest of the World. The outbreak of the COVID-19 pandemic has impacted their businesses as well. Further, restrictions such as the lockdown and others like the cross-barrier movements and others are worsening the situation.
These competitive market players have announced the suspension of production due to the lowered demand, followed by the supply chain bottlenecks, and also, to protect the safety of their employees in regions like the US, France, Germany, Italy, and others like Spain during the outbreak of the COVID-19 pandemic. As a result, the demand for crash barrier systems is expected to decline at the beginning of the forecast period in 2021. The global market manufacturers are likely to come forward and adjust to the production processes to prevent bottlenecks and plan production according to demand from tier 1 manufacturers. Also, the rising investments and funds for the research and development works are likely to help the market foster good market growth and meet the needs of the audience during the period that will be ending in 2028.
The crash barrier systems market size has been witnessed during the forecast period that will be ending in 2028 and giving birth to the global market competition because of the efforts that have been poured in by the prominent market players. The competition is also a result of the understated market players:
The crash barrier systems market will grow because of the performance of the construction and automotive industries. The rising per capita income of the middle-class population is resulting which is resulting in an increase in the number of vehicles and hence, resulting in new roads. Also, the movement of rural populations to urban areas in developing countries like the APAC region has increased, due to which, the demand in the construction sector is rising, especially during the ongoing forecast period of 2021-2028.
The crash barrier systems market growth is witnessing rigid barriers are used along roads to minimize the severity of accidents after impact. The severity of the crash increases post-impact when rigid and semi-rigid barriers are being used. Rigid barriers are likely to be less effective as more of the energy of the impact is likely to be transmitted to the vehicle occupants resulting in greater injuries.
The APAC is projected to see the highest number of new constructions and infrastructural activities. The rising investment in technology is resulting in developments and expansions is likely to benefit the crash barrier systems industry during the ongoing forecast period that will be ending in 2028.
The Global crash barrier systems market value has been rising because of the performance that has been recorded by the market segments by rising the market’s ability to meet the rising needs of the audience and, hence, understand the patterns that will help in increasing the market’s revenue that has been predicted by the experts for the forecast period of 2021-2028. The market segments are as follows:
Based on the Type
The type segment of the market includes both movable barriers and immovable barriers.
Based on the Technology
The crash barrier systems market has been segmented based on technology and includes Rigid (such as pre-cast and concrete barriers), Semi-rigid (such as box beam barriers), and others like flexible (such as chain and cable barriers).
Based on the Device
The crash barrier systems market has been segmented based on the device and includes Water & Sand –Filled Plastic Barrels, Crash Cushions, Gating & Non-Gating end treatment, GEAT (Guardrails Energy Absorbent Terminals), and others.
Based on the Application
The crash barrier systems market has been segmented as Median barriers, Roadside barriers, Work-zone barriers, Bridge barriers, and others like pedestrian footpaths and hilly terrain barriers.
Based on the Region, the global market has been segmented as North America, Europe, APAC, and the rest of the World.
The APAC, as a part of the global market, is projected to see the highest number of new constructions and infrastructural activities shortly, as a part of the forecast period that will be ending in 2028. According to stats that have been circulated by the WHO, there has been an increase in the spending on construction from 2014 to 2019, as a part of the historic forecast period in China. The growth was estimated at 7.3%, while other parts of the APAC region like India and Vietnam, it was estimated at 7% and 6.8%, respectively. This growth further, helps and provides an opportunity for the crash barrier systems market size to grow in these prominent countries. The market is home to Latin American countries such as Brazil, Argentina, and Colombia, as well as African countries such as South Africa. These regions have shown signs of development in recent years, as a part of the forecast period that will be ending in 2028.
The market report highlights the crash barrier systems market industry that is prevalent for the ongoing forecast period of 2021-2028. The market report discusses the developments of the market that will help in covering the losses that were a part of the hardships that have been introduced during the pandemic. The market report covers the competitive market aspects and the role of the market players to help the market grow at an excellent rate and forecast.
|Market Size||2028: USD 9 Billion|
|CAGR||2028: 3.3% 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 Technology, by Application, by Material|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Nucor Corporation, Bekaert SA, Delta Scientific Corporation, Avon Barrier Corporation Ltd, Transpo Industries Inc., FutureNet Group, Gibraltar, Arbus Ltd, Tata Steel Limited, Trinity Industries Inc., Automatic Systems SA, Lindsay Corporation, FutureNet Group Inc., Hill & Smith Holdings PLC, Barrier1 Systems Inc. and Valmont Industries Inc., A-Safe Ltd|
|Key Market Opportunities||
|Key Market Drivers||
The market is likely to attain a global CAGR of 3.3%.
Nucor Corporation, Bekaert SA, Delta Scientific Corporation, Avon Barrier Corporation Ltd, Transpo Industries Inc., FutureNet Group, Gibraltar, Arbus Ltd, Tata Steel Limited, Trinity Industries Inc., Automatic Systems SA, Lindsay Corporation
The device segment includes water & sand-filled plastic barrels, crash cushions, gating & non gating end treatment, GEAT (guardrails energy absorbent terminals), and others.
The applications are Roadside barriers, Median barriers, Bridge barriers, Work-zone barriers, and others (pedestrian footpaths and hilly terrain barriers).
The APAC region would enjoy market control and would increase the growth margin.
The types are movable and immovable barriers.