The U.S. Fencing Market is projected to attain USD12 billion by the end 2027, according to a new report released by Million Insights. The market is anticipated to expand at a CAGR of 4.9% throughout the forecast period, 2020 to 2027. Rising number of construction projects across the residential as well as commercial sector and growing concerns regarding safety and security are driving the product demand. Moreover, rising number of renovation projects in U.S. is anticipated to further proliferate the product demand over the forecast period.
Factors such as availability of customized products with variety of designs, colors, and made of different materials are anticipated to propel the demand for fencing products in U.S. Moreover, these fencing products help in improving the aesthetics of properties which is anticipated to further contribute to the market growth from 2020 to 2027. In addition, rising investments of government on infrastructural development and growing real estate industry are expected to fuel the market growth in the forthcoming years.
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Rising consumer expenditure on home décor and increasing disposable income levels of consumers in U.S. is projected to proliferate the product demand. Moreover, rising number of highway construction projects and increasing penetration of fencing bridges across the country are the factors expected to further fuel the United States fencing market growth from 2020 to 2027.
Leading manufacturers in the industry are focusing on mergers and acquisitions with regional and local players to enhance their consumer reach and strengthen their distribution network. However, fluctuations in prices of raw materials are one of the restraining factors expected to hinder the market growth. In addition, growing number of local players offering products at cheap rates are anticipated to be one of the biggest challenges for the key industry players.
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Further key findings from the report suggest:
• In 2019, the metal segment held the largest market share across the U.S. market due to rising demand from government, agricultural, industrial, and residential sectors.
• The segment of concrete fencing is projected to attain the fastest growth from 2020 to 2027 due to high strength of concrete material and ease of maintenance and installation of the product.
• Contractors use high quality raw materials to install fences around various residential and non-residential buildings which make the fencing exceptionally durable.
• The segment of power and energy is projected to attain a notable growth from 2020 to 2027 owing high requirement of security equipment such as fencing products, barricades, and CCTVs around the premises of power and energy stations.
• In 2019, the residential application segment held the largest market share with revenue of USD 5.3 billion and is projected to maintain its dominance from 2020 to 2027.
• Leading players operating in this industry include Gregory Industries, Inc.; Allied Tube & Conduit; Long Fence Company, Inc.; Associated Materials LLC; Bekaert; CertainTeed Corporation; Ply Gem Holdings; Poly Vinyl Creations Inc.; and Jerith Manufacturing Company Inc.
Million Insights has segmented the U.S. fencing market on the basis of material, distribution channel, installation, application, end use, and region:
U.S. Fencing Material Outlook (Revenue, USD Million, 2016 – 2027)
• Plastic & Composite
U.S. Fencing Distribution Channel Outlook (Revenue, USD Million, 2016 – 2027)
U.S. Fencing Installation Outlook (Revenue, USD Million, 2016 – 2027)
U.S. Fencing Application Outlook (Revenue, USD Million, 2016 – 2027)
U.S. Fencing End-use Outlook (Revenue, USD Million, 2016 – 2027)
• Petroleum & Chemicals
• Military &Defense
• Energy & Power
U.S. Fencing Regional Outlook (Revenue, USD Million, 2016 – 2027)
• New Hampshire
• New Jersey
• New Mexico
• New York
• North Carolina
• South Carolina
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