Fencing Industry in U.S. Continue to Grow at a Steady Pace in the Coming Yearsby Susan Hill Business Consultant
The U.S. fencing market size is expected to reach USD 12.0 billion by 2027, registering a CAGR of 4.9% over the forecast period, according to a new report by Grand View Research, Inc. Rapid growth in construction activities for both, residential and commercial buildings, along with security and privacy concerns, drives the demand for fences in U.S.
The market is anticipated to continue to grow at a steady pace in the coming years. The market is expected to witness high traction over the forecast period owing to a high demand for fencing bridge and elevated highway construction sites in the country. Rise in disposable income plays a key role in increased consumer spending on renovating houses, subsequently driving the demand for fences.
Availability of a wide range of products with varying colors, features, and designs, coupled with customizable products and solutions, also drives the market growth. Furthermore, a range of fencing designs are available which are aesthetically appealing as well. Government initiatives and investments in infrastructure development and construction projects are also driving the market growth in different verticals.
The U.S. fencing market has witnessed several new enhancements in terms of technology in products as well as the manufacturing of products. Moreover, a developed distribution network and strong manufacturing lineups in the country drives the launch of new and improved products. Though the industry is largely dependent on raw material suppliers and big metal suppliers, the market for fencing is thriving owing to a stable economy and the developing real estate market in the country.
Further key findings from the report suggest:
- The demand for fences in U.S. is expected to gain traction owing to
the growing residential sector and real estate developments
- The concrete fencing segment is anticipated to witness a significant
growth rate over the forecast period owing to properties such as
- The online segment is expected to witness high traction over the
forecast period owing to increasing internet penetration and advantages
such as ease of purchase and doorstep delivery
- Contractors have the ability, experience, and knowledge regarding
the installation of fences, owing to which the contractor-based
installation segment dominated the market in 2019
- The residential segment dominated the market in 2019 as privacy
fences are gaining more popularity since several new communities live in
close quarters. Since their houses are close together, individuals opt for
fences for privacy and security
- The application of fencing products in government residential
buildings, embassies, and VIP residences drives the growth of the market
in the government end use segment
- Availability of fashionable and low-cost fences, customizable
options, and rising consumer demand across the U.S. states are expected to
drive the market growth over the forecast period
- Key market players include Gregory Industries, Inc.; Long Fence Company, Inc.; Jerith Manufacturing Company Inc.; and Allied Tube & Conduit
Grasp advance knowledge on U.S. fencing Industry through in-depth Blogs: www.grandviewresearch.com/blog/us-fencing-market-size-trends
Created on Mar 11th 2020 07:49. Viewed 192 times.