Fencing refers to the installation of a boundary or wall around a building or construction site. It is used to safeguard pedestrians from potential hazards by demolition, excavation, and construction operations on a site. Temporary or permanent construction fencing serves various purposes, including security, privacy, safety, and the portrayal of boundaries. It can be made using various materials and designs such as chain link, wood, and metal which depends on the particular needs and choices.
According to Polaris Market Research, the global Fencing market was valued at USD 28.18 billion in 2022 and is expected to record USD 46.14 billion with a CAGR of 5.1% during the forecast period. A rise in the number of new home construction, business building, people remodeling homes, and home renovation projects are all anticipated to boost the market expansion throughout the forecast period.
The availability of affordable, lightweight, and easy-to-install fences has made it easier for homeowners to select fencing products according to their preferences. Customers now set up their criteria depending on cost, quality, and design when purchasing the product. Taking this into account, various companies in this field are creating fencing products with different colors and designs.
By material, the metal category held the largest market share in 2022
Due to their durability and protective properties, chain link fences and ornamental fences have become popular across public areas and government companies. The growing demand for efficient fences to enhance security and the rising demand for durable fences that is adaptable to different weather conditions is propelling the segment growth.
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By geography, North America accounted for the major market share in 2022. The construction sector in the region has been experiencing constant growth, making it a significant player on the international stage. More than 50,000 fencing contractors in North America provide goods and services to customers around the world. In addition, North America is anticipated to show significant growth over the forecast period owing to the increasing household demand for home décor products.
Moreover, Asia Pacific is predicted to register substantial growth in the coming years owing to the increasing concern about safety among the region’s consumers coupled with initiatives taken by the government in order to improve public infrastructure.
In February 2023, Crossplane Capital announced its acquisition of a controlling stake in Viking Fence. Viking Fence is a renowned provider of fence rentals, sanitation rentals, fence installations, and other building products and services for both commercial and residential markets across Texas.
The fence market is anticipated to expand due to the growing emphasis on technological advancements and customization. As the market continues to grow, customers can expect a greater diversity of materials.
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