Barrier Systems Market to Reach $28.1 Billion, Globally, by 2031 at 3.7% CAGR: Allied Market Research
Extensive usage of drop arms for traffic management and technological advancements in barrier systems drive the growth of the global barrier systems market.
PORTLAND, Ore., Feb. 10, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Barrier Systems Market by Device type (Fences, Bollards, Gate, Crash barrier systems, Drop arms), by Technology (Rigid, Semi-rigid, Flexible), by Material (Metal, Non-metal), by Application (Roadways, Airports, Railways, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031". According to the report, the global barrier systems industry generated $19.3 billion in 2021, and is anticipated to generate $28.1 billion by 2031, witnessing a CAGR of 3.7% from 2022 to 2031.
Prime determinants of growth
Extensive usage of drop arms for traffic management and technological advancements in barrier systems drive the growth of the global barrier systems market. Moreover, emerging economies such as India and China are focusing on the development of infrastructure, thereby presenting new opportunities in the coming years.
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Covid-19 Scenario
- The outbreak of the Covid-19 pandemic had a negative impact on the global barrier systems market, owing to temporary closure of construction activities during the lockdown.
- In addition, barrier systems could not be effectively manufactured during the lockdown period, due to lack of labor force, unavailability of raw materials, supply chain disruptions, and closure of production facilities.
- However, the industry has recovered from the loss in the post-pandemic.
The metal segment to maintain its leadership status throughout the forecast period
Based on material, the metal segment held the highest market share in 2021, accounting for nearly two-thirds of the global barrier systems market, and is estimated to maintain its leadership status throughout the forecast period, owing to the extensive use of metal for manufacturing semi-rigid crash barriers. However, the non-metal segment is projected to manifest the highest CAGR of 3.9% from 2022 to 2031, attributed to the increasing popularity of flexible crash barriers.
The roadways segment to maintain its leadership status throughout the forecast period
Based on application, the roadways segment held the highest market share in 2021, accounting for nearly three-fifths of the global barrier systems market, and is estimated to maintain its leadership status throughout the forecast period, owing to the extensive use of crash barrier systems. However, the railways segment is projected to manifest the highest CAGR of 4.2% from 2022 to 2031, due to the increasing number of rail and metro rail projects in emerging economies.
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The semi-rigid segment to maintain its lead position during the forecast period
Based on technology, the semi-rigid segment accounted for the largest share in 2021, contributing to nearly three-fifths of the global barrier systems market, and is projected to maintain its lead position during the forecast period, owing to the extensive use of metal crash barrier systems. However, the flexible segment is expected to portray the largest CAGR of 4.0% from 2022 to 2031, attributed to the increasing popularity of flexible crash barriers in developed economies.
Europe to maintain its dominance by 2031
Based on region, Europe held the highest market share in terms of revenue in 2021, accounting for nearly two-fifths of the global barrier systems market, and is likely to dominate the market during the forecast period, owing to high spending on road safety infrastructure. However, the Asia-Pacific region is expected to witness the fastest CAGR of 4.3% from 2022 to 2031, attributed to rapid infrastructural development.
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Leading Market Players: -
- Deltabloc International GmbH,
- A-Safe,
- Tata Steel Group,
- Barrier 1 Systems, Inc,
- Avon Barriers Corporation Limited,
- Hill & Smith Ltd,
- Global Grab Technologies Inc.,
- Valmont Structures Pvt Ltd.,
- Lindsay Corporation,
- Gramm Barriers Systems Limited
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