The global Fencing Market is estimated to be valued at US$ 33,146.6 Mn in 2023 and is expected to exhibit a CAGR of 4.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Fencing is a structure that encloses or divides an area, with the primary functions of providing security or for decorative purposes. Fencing offers protection from stray animals or unwanted intruders and also defines property boundaries. Fencing materials include wood, steel, aluminum, vinyl, and composite.
Market key trends:
One of the key trends in the fencing market is the increasing use of composite materials. Composite fencing combines the durability of steel and wood with the low maintenance of plastic. Composite fencing is made of recycled wood-plastic composite, making it environmentally sustainable. It has the appearance of traditional wood fencing but is much more durable and will not rot, chip, peel, or require staining or painting. Being 20 times stronger than wood, composite fencing can withstand termites and other pests. It is virtually maintenance-free and comes with long warranties, driving the demand in the market.
Segment Analysis
The global fencing market is segmented by material type into wood, vinyl, steel, aluminum, fiber and concrete. Among these, the steel segment dominates the market and accounted for over 30% share of the global fencing market in 2023. Steel fencing material dominates as it provides long lasting and durable fencing solution compared to other materials. It is also cost effective and retains its finishes over the years with minimum maintenance.
Key Takeaways
The global fencing market is expected to witness high growth, exhibiting CAGR of 4.4% over the forecast period, due to increasing adoption of fencing in residential and commercial construction activities.
Regional analysis
Asia Pacific region dominated the global fencing market in 2023 by accounting for over 30% share, followed by North America and Europe. China, India and Indonesia are witnessing the highest growth in fencing demand due to the rapid urbanization and infrastructure development activities in these countries. Growth in the residential sector coupled with increasing focus on security and privacy is further supporting the market growth in Asia Pacific region.
Key players
Key players operating in the fencing market are Allied Tube & Conduit, Ameristar Fence Products Incorporated, Associated Materials LLC, Bekaert, CertainTeed Corporation, Gregory Industries, Inc., Long Fence Company Incorporated, Betafence NV, Jerith Manufacturing Company Incorporated, Ply Gem Holdings Incorporated, and Poly Vinyl Company Incorporated. The global fencing market is fragmented in nature with the presence of both global and regional players. Major players are focusing on new product launches and acquisitions to strengthen their market position.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it