Continued Growth is Expected in the Fencing Market

Continued Growth is Expected

in the Fencing Market

In a report recently released by Grand View Research, the global fencing market size was valued at $27 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.5% from 2022 to 2030.

A persistent rise in new housing construction, home improvement projects, remodeling activities, and commercial construction is expected to drive the growth of the market over the forecast period. The growing concerns over safety and security coupled with the lower maintenance costs and higher reliability attributes associated with the latest fencing solutions are expected to contribute to the growth of the market.

The demand for fencing products is anticipated to rise in line with the growing need for improving the appearance and increasing the value of the property and the growing availability of lightweight, affordable, and easy-toinstall PVC and plastic fences. Increased spending on institutional construction and the growing government spending for strengthening the physical security of parks, public places, and government premises also bodes well for the growth of the market.

The looming surge in real estate development, growing industrialization, and the aggressive investments in public and private organizations are making in the construction industry, especially in emerging countries, such as China and India, are driving the need for innovative safety and security solutions are prompting market players to offer enhanced fencing solutions in line with the continuously evolving end-user demands, thereby contributing to the growth of the market.

Eco-friendly fencing is getting popular, but the high level of maintenance eco-friendly fencing requires is driving the demand for low-maintenance fencing solutions, such as vinyl fencing. Plastic fencing is also emerging as a relatively economical, lightweight, and easy-to-install alternative.

The metal segment accounted for the largest revenue share of over 50% in 2021. Metal fencing is particularly used in public places and by government organizations. The growing preference for chain link fences and ornamental fences is expected to drive the growth of the segment. The growing need to install stronger fence to enhance security can also be considered one of the key factors driving the popularity of metal fencing. The growing preference for durable fences that can potentially withstand the changing weather conditions bodes well for the growth of the segment.

Wood fencing is a popular choice for residential applications, especially in semi-urban and rural areas, owing to its distinctive aesthetic appeal and the easy availability of wood at affordable prices. These factors have been driving the growth of the wood segment over the past few years. However, wooden fencing is anticipated to witness intense competition from plastic and composite fencing, owing to the lower cost and maintenance associated with the latter. Hence, the plastic and composite segment is also poised for significant growth over the forecast period.

North America dominated the global fencing market in 2021 with a revenue share of over 34%. The persistent growth in construction activities across North America is allowing the region to dominate the global market. The U.S. alone is home to more than 50,000 fence contractors. These contractors provide materials and services around the world. The regional market is also poised for significant growth over the forecast period. The growing demand for home decoration products from households across North America is estimated to drive the growth of the regional market.

To see the report in its entirety, visit www.grandviewresearch.com.