Fencing Market Research Report, By Material (Concrete, Plastic & Composites, Wood, Metal, and others), By Product (Hinge-joint Fence, Electric Fence, Welded Fence, and others) By End-user (Residential, Commercial, Industrial, and Agricultural) and Region — Global Forecast till 2030
ID: MRFR/CO/5919-HCR | February 2021 | Region: Global | 110 pages
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Market overview
The fencing market growth rate should be 5% for the time period that this report covers. The global fencing market value was USD 26.51 billion in 2019. It’s expected to be worth USD 13,440 million at the end of the time period that this report covers.
A fence is a strong and solid structure that can be made out of many materials. Some of these are brick, wood, and metal. It’s an effective barrier in terms of making it more difficult for unwanted people to enter a property.
COVID-19 analysis
COVID-19 is a unique virus that is changing the nature and destiny of the world. Its dangerous nature has led many around the world to adopt such concepts as remote working and social distancing as being the new way of living.
Governments around the world imposed lockdowns and quarantines to try to contain the spread of the virus. This didn’t work. In any case, the effect that this had on businesses around the world was disastrous for the most part and long-term.
The global fencing market was no exception. Many companies in the global fencing industry found that they had to dramatically scale back production and even halt it temporarily in some instances.
Competitive landscape
The global fencing industry is extremely competitive. What accounts for this is the fact that the industry has a relatively high CAGR. it’s also extremely lucrative. These factors entice all types of companies to enter the market. Larger companies with huge treasuries are especially lured into the market. All of this is possible because there are few barriers to entry into the global fencing market.
Companies find that they can remain competitive by adopting some strategies. The first is to invest heavily in research and development. They are able to create a sustainable competitive advantage by developing and marketing superior products that the competition may be unable to.
Companies are also merging with and acquiring other successful companies. They tend to become super companies that have access to more of all types of resources after the merger or acquisition. Thus., they are able to invest more in research and development and develop and market those products that will give them a sustainable competitive advantage.
Strategic partnerships accomplish the same thing that mergers and acquisitions do.
Associated Materials, LLC is a major American player in the global fencing industry. It has retained its superior position by investing heavily in research and development. Thus, it was able to create a sustainable competitive advantage that made it economically viable and profitably feasible in relation to the competition!
List of Companies
- Betafence NV (Belgium),
- Jerith Manufacturing Company Inc. (US),
- Long Fence Company Inc. (US),
- Associated Materials LLC (US),
- CertainTeed Corporation (US),
- Gregory Industries Inc. (US),
- Bekaert (Belgium),
- Long Fence Company Inc. (US),
- Associated Materials LLC (US),
- Ply Gem Holdings Inc. (US),
- Ameristar Fence Products Inc. (US), and
- Allied Tube and Conduit (US).
Market dynamics
Drivers
Many people and companies around the world are building new housing and commercial units. They are also spending big money on renovation and remodeling projects for new and older residential and commercial units.
Rapid urbanization around the world is the major factor behind growth in the global fencing industry.
Opportunities
Many governments around the world are investing heavily in various construction companies and their projects. These include parks, government offices, and public places. Many companies in the global fencing industry are seeing that there is real money to be made in the industry. They are also enticed by the higher CAGR. That’s why they’re investing heavily in research and development to try to develop and market better quality fences that will allow them to justify charging more for them.
This is especially true of the defense and security industries where technologically advanced fences that are electric in nature and digitally operated are needed.
Restraints
One key restraint is the fact that eco-friendly fences are now in greater demand. These fences are high maintenance and they tend to be more expensive so the market for fences is not growing as fast.
Challenges
One of the key challenges that the global fencing industry faces lie in the companies building better and more technologically advanced fences at lower price points.
Cumulative growth analysis
The fencing market growth rate should be 5% for the time period that this report covers. The global fencing market value was USD 26.51 billion in 2019. It’s expected to be worth USD 13,440 million at the end of the time period that this report covers.
Technology analysis
Jerith Manufacturing Company Inc is a major American player in the global fencing industry. It is an industry leader because it invested heavily in research and development. Hence, it was able to develop and market those technologically advanced products. Jerith was able to develop a sustainable competitive advantage this way.
Segment overview
By material
The global fencing industry can be separated into the following sub-segments:
- Concrete
- Plastics and composites
- Wood
- Metal
- Others
The metal fencing sub-segment currently has the largest fencing market size. The reasons for this are that these fences are stronger and last longer than fences that are made out of other materials.
Metal fences are also economical and don’t require much maintenance. Therefore, they tend to be cost-effective. These fences tend to keep their owners safer and give them a degree of peace of mind. They also look prettier.
Many government organizations and public organizations prefer to have metal fences on their properties. The reasons for this are that they are stronger, more durable, and more economical than other types of fences are.
Another factor that’s contributing to the growing popularity of metal fences is the growing demand for fences that are intended to be a decorative element of properties and chain-link fences. These types of fences are made out of metal.
Wooden fencing is rapidly growing in popularity around the world. It’s a natural material, therefore, it can be painted to look nice. It’s also strong since it can be made out of many species of strong wood.
Composite and plastic fences are quickly gaining traction since they’re economical and easy to use. They may substitute wooden fences as being the material of choice for fences in the future.
By product
The global fencing industry can be separated into the following sub-segments by product:
- Hinge-joint fence
- Electric fence
- Welded fence
- Others
The electric fence sub-segment has the highest fencing market growth rate out of all of the sub-segments. There are reasons for this. One of these is that they are easy to install. The others are their greater ability to detect intruders, the ease of operating these fences, and the fact that they are relatively inexpensive to maintain.
By end-user
The global fencing industry can be separated into the following sub-segments by end-user:
- Residential
- Commercial
- Industrial
- Agricultural
The residential sub-segment has the fastest and highest growth rate. It’s expected to remain this way for the time period that this report covers. The residential and real estate markets are growing rapidly, hence the dramatic increase in homes and living spaces. Contractors and developers are spending much more on these construction projects. The demand for fences has increased dramatically as a result of this.
Regional analysis
The global fencing industry is grouped into the following regions:
- North America
- The European Union
- Asia-Pacific
- The Rest of the World
The North American region enjoyed the greatest fencing market share out of all of the world’s regions. The European Union and the Asia-Pacific region came in second and third place respectively in 2017.
What’s accounting for the North American region and the European Union commandeering the lions’ share of the global fencing market is the fact that the demand for home decorative products is rising rapidly. The North American region accounted for approximately 35% of the total fencing market share in 2019.
Additionally, most of the new customers (70%) will come from the North American region and the European Union.
The companies in the North American region are also investing more in more technologically advanced materials for fencing. It’s mainly driven by more people across North America wanting to renovate and remodel their homes.
The Asia-Pacific region is seeing phenomenal and rapid growth in the global fencing market mainly because the general population is growing wealthier there and there is a strong and emerging middle class in this region.
Hence, many more people are interested in investing in home safety products like technologically advanced fencing. Nations like India and China are seeing breakneck growth in their agricultural and residential sectors. It turns out that as more people are joining the middle classes in these nations they want to live in safer homes that are fenced.
The Indian market is seeing a rapid increase in fencing because the nation is urbanizing rapidly. Also, the government and many enterprises are spending much more on public works projects, public buildings, and government buildings.
Recent developments
- Jerith recently updated its computer systems to become more profitable and productive
Report overview
The fencing market growth rate should be 5% for the time period that this report covers. The global fencing market value was USD 26.51 billion in 2019. It’s expected to be worth USD 13,440 million at the end of the time period that this report covers.
The North American region currently leads in terms of market share. The Asia-Pacific region is not far behind because of rapid urbanization and development.
Report Scope:
| Report Attribute/Metric | Details |
|---|---|
| Market Size |
|
| CAGR | 5% CAGR (2022-2030) |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Historical Data | 2019 & 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Material, End-user |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | Betafence NV (Belgium), Jerith Manufacturing Company Inc. (US), Long Fence Company Inc. (US), Associated Materials LLC (US), CertainTeed Corporation (US), Gregory Industries Inc. (US), Bekaert (Belgium), Long Fence Company Inc. (US), Associated Materials LLC (US), Ply Gem Holdings Inc. (US), Ameristar Fence Products Inc. (US), and Allied Tube and Conduit (US). |
| Key Market Opportunities |
|
| Key Market Drivers |
|
Frequently Asked Questions (FAQ) :
Fencing market valuation would be USD 26.51 billion.
Fencing market CAGR would be 5.12% during the forecast period of 2022-2030.
North America would dominate fencing market.
Groiwng construction activities would lead the fencing market.
The electric fencing segment would witness high growth.
