The data experts at Market Research Future Reports (MRFR), the global fencing market is projected to experience a CAGR of 5.12% and value approximately USD 26.51 billion during the assessment period. The growing demand for new residential buildings and the renovation projects are estimated to drive the global fencing market 2020. Also, escalating urbanization is another pivotal factor leading to market growth. Besides, the growing demand and popularity for the synthetic fence are further propelling the demand for a temporary fence, wire mesh, portable fence. In addition, the growing inclination on aesthetics and safety capabilities related to fencing is predicted further to drive the global market in the forthcoming period. Moreover, the increasing technological advancement has resulted in the high demand from the field of defence. In addition, the increasing incidents of theft have further augmented the global fencing market.
However, market dynamics are estimated to change significantly due to the spread of COVID-19. Various regions have been affected due to the outbreak of coronavirus. Due to the pandemic, various companies in the market have temporarily shut their daily operations. The halt caused in business operations is estimated to bring a considerable impact on market revenue. It is estimated that it will take some time to recover from the losses incurred during the observation of lockdown. We will provide an impact analysis report on COVID-19.
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Market Segmentation
The global fencing market can be segmented on the basis of material, product, end-user, and region.
On the basis of material, the global fencing market can be distinguished into plastic composites, concrete, wood, metal, and others.
On the basis of product, the global fencing market can be distinguished into an electric fence, welded fence, hinge-joint fence, and others.
On the basis of end-user, the global fencing market can be distinguished into commercial, residential, industrial, and agricultural.
On the basis of region, the global fencing market can be distinguished into North America, Europe, Asia-pacific, and Rest of the world (RoW).
Regional Analysis
The geographical study of North America, Europe, Asia-pacific, and Rest of the world (RoW) has been conducted. According to the study, North America is projected to dominate the global market. North America is anticipated to seize the largest market share during the assessment period. The second and third position is attained by Europe and Asia-Pacific, respectively. Europe and APAC are experiencing an upward trajectory due to the growth in investments in RD for advanced materials. Also, the increasing demand of renovation projects in the region act as a catalyst in enlarging the market. The APAC region acquires a significant portion of the market. The region has been experiencing the increased demand for construction projects which involves massive investment. In addition, the presence of emerging nations such as India, Japan, and China are projected to make substantial participation in expanding the market.
However, global market statistics are likely to change due to the outbreak of COVID-19. Several regions faced an adverse impact due to imposition of lockdown. The lockdown has resulted in a change in the supply and demand cycle. The regions will take some time to recover from the losses incurred during the lockdown.
Key Players
The renowned organization of the worldwide fencing market are Jerith Manufacturing Company Inc. (US), Betafence NV (Belgium), Long Fence Company Inc. (US), CertainTeed Corporation (US), Associated Materials LLC (US), Gregory Industries Inc. (US), Long Fence Company Inc. (US), Bekaert (Belgium), Associated Materials LLC (US), Ameristar Fence Products Inc. (US), Ply Gem Holdings Inc. (US), Allied Tube and Conduit (US), and a few more.
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