FELTON, California, March 7, 2019 /PRNewswire/ -- The global Fencing Market is expected to display higher growth rate over the next seven years. Rapid surge in the market of fencing is credited to rapid growth in residential as well as commercial housing sector. Increasing number of activities involving new housing construction, improvement, and remodeling work is expected to drive the growth of fencing industry over the forecast period. Growing concerns related to safety and security among homemakers is anticipated to fuel market demand for fencing services over the coming years. Globally, the fencing market is predicted to generate massive revenue over next seven years, providing numerous opportunities for market players to invest for research and development in the industry.
Rising investment for the reconstruction of offices, building transportation facilities and commercial construction is predicted to spur the market growth over the forecast period. Different fencing products & equipment are witnessing large-scale demand owing to the shifting focus by owners to improve the appearances and value of the property. In addition, massive spending by government institutions is predicted to favor the fencing industry growth over the forecast period. Growing adoption of fencing services for improving parks, public places, and government premises is further propelling market demand in the past few years. Cost, quality, design, and aesthetic value are key evaluating factors while selecting fencing services.
Increasing adoption of fencing services from agriculture sector to safeguard their property and livestock is projected to stimulate market growth as well. Development of new materials to enhance the durability is latest market trend, which is significantly contributing to profitability over the forecast period. However, rising number of local market players with invalid licenses serves as key challenge for market growth. Wood and metal wires are the two common raw materials used for fencing due to their low cost, durability, easy availability and low maintenance.
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The fencing market is broadly categorized into three major segments based on the application type such as residential sector, agriculture sector and industrial sector. The residential segment is growing rapidly in the fencing industry with substantial revenue generation in the last few years. Growing demand for fencing services from the residential segment is attributed to the robust growth in housing sector and ever-growing population. The agriculture sector segment has also witnessed substantial growth due to increasing concerns regarding safety and security of crops.
The fencing market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest techniques in residential housing sector, rising concerns regarding safety and security among homemakers, surge in number of research & development activities, and existence of well-established industrial infrastructure in the region.
Asia-Pacific region is estimated to hold major market share in fencing with massive growth in forecast period. Countries such as India, China, Australia and Singapore are leading the Asia-Pacific market with rapid growth in residential housing sector, increasing per capita income, ever-growing population and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the fencing industry are CertainTeed Corp., Betafence Ltd., Atkore International Group, Inc., Tenax Group B.V., Bekaert N.V., Ply Gem Holdings, Inc., and Associated Materials LLC.
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