Fencing plays an important role in demarcating boundaries, providing security, and safety. It is used for sports activities like fencing. Rising urbanization has increased the demand for fencing in housing complexes, industries, and other commercial establishments. Fencing offers durable and long-lasting protection of premises while enhancing aesthetic appeal.
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 key trends:
Rapid urbanization has been a key driver boosting the growth of the global fencing market. Growth in the housing and construction sectors due to increasing population migration from rural to urban areas has accelerated the demand for fencing. Fencing is crucial infrastructure for security, safety, and boundary demarcation in residential and commercial construction projects. According to United Nations projections, approximately 68% of the world population will live in urban areas by 2050. This widespread urbanization will continue to augment the demand for fencing during the forecast period from 2023 to 2030.
Segment Analysis
The global fencing market is segmented by material type into wood, metal, plastic & composite. The metal fencing sub-segment currently dominates the market and is expected to continue its dominance over the forecast period. Metal fencing provides long-term durability, maintenance-free solutions and better security against intruders compared to other materials. It retains its aesthetic appeal for longer durations without requiring frequent repairs or replacement.
Key Takeaways
The global fencing market is expected to witness high growth over the forecast period supported by rapid urbanization, increasing residential & commercial construction activities and rising focus on security and surveillance across the world. 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.
Regional analysis – Asia Pacific region holds the highest share currently owing to ongoing infrastructure development projects and growing population in countries such as India and China. The region is expected to register highest CAGR over the forecast period. Increasing residential housing units under government-supported urbanization schemes will continue to boost market demand.
Key players analysis – Key players operating in the fencing market include Jerith Manufacturing LLC, Gregory Industries, Inc., Betafence NV, Ply Gem Holdings Inc., Allied Tube and Conduit, Ameristar Fence Products Inc., Bekaert, and CertainTeed Corporation. These players are focusing on new product development, strategic partnerships and mergers & acquisitions to consolidate their market position. Jerith Manufacturing LLC maintains a dominant presence with wide distribution of its high quality metal wire mesh, chain link and pvc fencing solutions.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
