Market Research Future (MRFR) projects the Fencing Market 2020 to record a growth rate of close to 5.12% between 2018 and 2023, which is the appraisal period. It is also estimated that the market value by the end of 2023 can be USD 26.51 billion, adds MRFR. We will provide covid-19 impact analysis with the report. The COVID-19 research on the fencing market offers an in-depth analysis post the coronavirus disease outbreak.
Get Free Sample Report : https://www.marketresearchfuture.com/sample_request/7388
The construction industry, and in turn the fencing market was flourishing backed by heavy investments, but the recent COVID-19 outbreak has suspended various construction activities. In the wake of the pandemic, there is scarcity in labor and rising vulnerability in the supply chain, which has led to project delays in the existing projects as well as the upcoming ones. Uncertainty induced by the current lockdown situation has made it tough to predict how fast the fencing market can recover in the coming years. Lockdowns due to SARS-CoV-2 has pegged back the demand for fencing in the construction industry, leading to massive financial loss.
On a bright note, a majority of countries are coming up with financial support of unprecedented level to curb the revenue loss and are also offering short term credit insurances for the same reason. Considering these factors, it is likely that the fencing market can remain strong and even recover to a large extent between 2018 and 2023.
Key Boosters and Main Deterrents
The fencing market growth is warranted by the surge in housing construction, as well as remodeling activities across developing regions. High-reliability and low maintenance costs properties make fencing a valuable commodity in the construction sector. With safety concerns mounting and the spending on rebounding transportation, commercial and offices constructions increasing, the fencing market size can expand at a notable pace in the following years.
Fencing products are increasingly being used in construction activities, as customers are mindful of its ability to enhance the value as well as the appearance of the property. Institutes are spending considerably on construction in conjunction with the government expending significantly on enhancing public places, government premises and parks, which can boost the demand for fencing materials.
Farmers across regions are now mostly focused on protecting their livestock and property, which makes them invest heavily on fencing. Innovations in the fencing industry and the emergence of new and innovative materials that are not only affordable but also elevate the durability can contribute to the market profits in the years ahead.
FOR MORE DETAILS :
The worldwide market for fencing can be considered for product, material as well as end-user.
The types of materials used in the fencing process are plastic & composites, concrete, metal, wood, and others. Metal fencing is the biggest market across the globe on account of the rising need for better flexibility and durability, which can be met only by this material. Metal fence has also gained prominence in the global market backed by its higher security level and cost-effectiveness.
The products described in the research include welded fence, electric fence, hinge-joint fence, and others. The market for electric fencing can observe the best growth rate in the following years, based on their benefits in terms of higher detection ability, easy installation, ease of operation, reduced maintenance costs and more. Electric fencing notes the highest demand in defense & security areas.
The key end-users in the worldwide market are commercial, residential, agricultural and industrial. The fastest gaining market will belong to the residential category, as a result of the fast expanding real-estate and residential sector and the consequent surge in the construction of living spaces and homes.
The fencing market size has been evaluated extensively across the primary regions of Europe, North America, Asia Pacific or APAC, and Rest of the world or RoW.
In 2017, reports confirmed that the largest market for fencing was owned by North America, while Europe and APAC clinched the second and third spot, respectively.
The fencing market in North America observes multiple innovations, with respect to manufacturing and technology in the construction industry. A strong distribution network along with a robust manufacturing lineup gives way to launch of products that are more advanced, which boosts the customer base in the fencing market. The regional market is thriving on the back of a steady economy combined with a developed real estate sector across the United States (U.S) and Canada.
The APAC market is going strength to strength on a global scale, as a result of the advancing agricultural industry in India as well as China and the consequent rise in the demand for fencing by farmers. The surge in urbanization and the increasing spending on fencing by diverse institutes in India can induce market growth to a large extent. The soaring need for fencing bridges along with boom in highway construction also speeds up the market expansion rate across the region.
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.