The fencing market exceeded USD 22 billion in 2014. It should have a size of nearly USD 32.4 billion by 2022, as reported by Grand View Research, Inc. Growth in remodelling projects & real estate is projected to propel market sales during the forecast period (2015 to 2022). Commercial sectors like academic organizations and industrialized premises employ fences to improve the safety of people & property.
Expansion in the fencing market is also credited to residential renovations & new construction projects. Security needs and ‘transportation construction’ investments spur market growth. In addition, fences may face demand from the requirement for aesthetically appealing & novel property. Governmental investments for promoting public premises & parks also drive market incomes.
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Designs, costs, quality, and appearance are the requirements on the basis of which consumers select fences. Demand for fences among cultivators for protecting their livestock & property spur the market. Innovative materials that enhance durability and decrease costs can add market profits in the forecast period. Bad quality fences employed by unauthorized contractors act as a market hindrance.
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The fencing market is split into materials, applications, and regions. Material segments comprise wood, metal, concrete, and plastic & composite. Metal fencing is likely to be the primary segment in the coming seven years. It held over 50 percent shares in 2014. This was attributed to their usage across governmental organizations and public premises.
The applications include agricultural, residential, and industrial. Residential will be the main segment over the years ahead. Renovation & construction operations can drive demand for this application from 2015 to 2022. Safety of farms, livestock, and crops from trespassers & wild animals may propel segment demand in the near future.
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Industrial applications will rise because of demand from educational institutions and manufacturing premises. In terms of regions, the fencing market is divided in view of North America, Asia Pacific, Europe, and rest of the world. Europe and North America are anticipated to remain the key regions in the coming seven years. Demand for home decorations and escalating construction operations drive regional revenues.
Asia Pacific should remain attractive in light of its evolving agricultural applications in China, Japan, and India. The global market witnesses intense competition and is hugely fragmented. It is led by several local manufacturers that meet consumer needs.
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