Global Fencing Market is Expected to Reach USD 29.1 Billion by 2018: Transparency Market Research
Albany, New York (PRWEB) March 05, 2013
The metal fencing market is in a commanding position owing to a wide range of products available under this category.
The global fencing market is largely driven by factors such as the rising consumer interest in home improvement and home décor and the need for security and safety. Expanding residential construction and growing economies across the globe are also supporting the growth of the fencing market. The increasing demand for residential fences and the growing acceptance and popularity of synthetic alternatives will serve as an opportunity for the fencing industry. The global fencing market is affected by the fluctuating raw material prices and the rising energy cost.
The fencing market is segmented into two major categories based on product type into agricultural wire fence and commercial wire fence. Based on material type, the market is divided into four segments, namely metal, wood, plastic & composite and concrete fencing. The end use segments covered in this report are residential, agricultural and the industrial sector. The market is further segmented by geography into North America, Europe, Asia Pacific and Rest of the World regions.
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Of the four major fencing materials, metal fencing accounted for more than half of the entire fencing market in 2012 due to an increasing demand for security and safety. The plastic & composite fencing market is expected to be the fastest growing segment in the coming years due to increasing demand, especially from residential buyers. Growth in the metal fencing market is primarily driven by continued interest in ornamental, chain link and barbed wire fencing across different end user segments.
The wood fencing market includes assembled fences, unassembled fences and other wood fences. The market for wood fencing is the second largest segment and is expected to grow at a moderate growth rate from 2012 to 2018. The vinyl fence, a type of plastic fence, is expected to be the fastest growing segment due to its ease of repair, maintenance, eye-catching appearance and long-term durability.
The commercial wire fence segment dominates the global fencing market and is also expected to be the fastest growing segment in the coming years due to growing housing and building construction across the globe and also due to the rising demand for security and safety. Against this, the agricultural/livestock wire fence segment makes up close to one third of the global fencing market and is expected to grow at a relatively slow pace.
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North America is the largest regional market for fencing products followed by Europe and the Asia Pacific region. Asia Pacific is expected to be the fastest growing region in the coming years, fueled by the increasing housing construction as well as rapid industrialization in China, and India.
The global fencing industry is highly competitive and fragmented with many local manufacturers across the globe. The local manufacturers control over 50% of the industry revenue share. Some of the key players in the market are CertainTeed, Betafence, Bekaert Associated Materials LLC, Gregory Industries, Inc., Long Fence Company Incorporated, Ameristar Fence Products Incorporated, Jerith Manufacturing Company Incorporated, Poly Vinyl Company Incorporated, Tenax and others.
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