The global fencing market is estimated to be valued at US$ 36127.67 Mn or 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 provides security and demarcation of private premises.Made from a variety of materials including wood, vinyl, metal, and concrete, it serves both functional and aesthetic purposes. It prevents intrusion and escape of residents and livestock from private property.
Market key trends:
One of the key trends in the fencing market is the rising popularity of wood fences over other materials. Wood provides a natural aesthetic look while also being cost effective. It comes from sustainable sources and blends well with landscaping. Several wood fence manufacturers offer stain and paint options allowing consumers to customize their design and match the surrounding environment. Material advancements have also improved wood's resilience against weathering, requiring less maintenance over time.
Segment Analysis
The global fencing market is segmented by material, product type, and end-use sector. Based on material, the market is divided into wood, plastic & composite, concrete, and metal. The metal segment dominated the market in 2022 and is expected to continue its dominance over the forecast period. Metal fencing offers high strength and durability as compared to other materials making it a preferred choice for commercial and residential fencing needs.
Key Takeaways
The Global Fencing Market Size is expected to witness high growth, exhibiting CAGR of 4.4% over the forecast period, due to increasing infrastructural development and growing home improvement activities.
Regional analysis
The Asia Pacific region is expected to grow at the fastest rate due to rapid urbanization and increasing construction spending in countries like China and India. North America currently dominates the market owing to high disposable incomes and stringent government regulations regarding perimeter security in the United States.
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.
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