FENCING MARKET ANALYSIS

The fence is a structure that is created to restrict the crossing of an established boundary. They differ from the wall in terms of design, weight, and structure. The fence is used for various reasons such as security purpose, prevention from theft and to keep children and pets in a restricted area, and to improve the aesthetic of property and boundary.

The global fencing market is estimated to be valued at US$ 33,146.6 million in 2021 by products and is expected to exhibit a CAGR of 4.4 % over the forecast period (2021-2028).

Recent Developments:

• 21^st May 2020, According to HomeAdvisor, homeowners pay between $1,673 and $3,983 to get a wooden fence installed. Wood fences cost $17 to $45 per linear foot. Lumber averages from $7 to $15 per foot while labour ranges from $10 to $30 per foot. The fence's length, height, and wood type are major factors in the price of a new fence. Gates, hardware, and sealant are also costs that need to be budgeted into the project.
• 21^st May 2021, fencing and security solutions manufacturer, Jacksons Fencing has responded to industry demand and expanded its range of premium quality products by launching a brand new metal post product, Mi-T. These new product launch reflect emerging market trends in the global fencing market.
• 24^th August 2021, According to a Maryland Based Home Renovation Research Lab which conducts research on building trends owned by National Association of Home Owners states that from the pandemic the fencing of the homes is increased rapidly around 320 million linear feet of new fencing in the US.

The North America Region held dominant position in the global fencing market in 2020, accounting for 32.2% share in terms of value followed by Europe and Asia Pacific, respectively.

Figure 1. Global Fencing Market Value (US$ Mn), by Region, 2020

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Drivers:

Robust growth in the middle-class population is fueling the market growth of fencing. According to the European Commission, the global middle class is expected to grow and reach 5.5 billion by 2030. Some 87% of the additional middle-class population will be Asians. The size of the global middle class increased 3.5 billion people in 2017: more than half of the world population and is expected to grow to some 4 billion by 2021 and reach 5.3 billion by 2030.

Increasing housing constructions/ rebound in housing completions is propelling the market growth of the fencing. Rise in the real estate sector due to an increasing number of players coupled with the growing investment in the construction industry. Moreover, growth in the construction of malls, offices, and industrial facilities are also driving the demand for a fence for maintaining the safety and security of the building. Growing spending on rebounding office and commercial construction is further projected to foster market growth. 

Market Opportunities

The growing demand for a residential fence is expected to offer potential market opportunities over the forecast period. According to the Coherent Market Insights analysis, the residential fence segment represents approximately 40% of the global fencing demand and is expected to grow in the future as well. This present significant growth opportunities for new construction and remodeling market area. Moreover, privacy fences are projected to strong growth opportunities in the near future.

Development of innovative and attractive fences is projected to bring new and bright opportunities in the near future. For instance, in June 2020, APL Apollo Tubes (APL Apollo) has announced the launch of ‘Apollo Fencing Solution’, an unrivaled innovation that gives the much-desired safety fencing to any property. The product comprises of an array of H-shaped Fence Post called ‘Apollo Fence’. The ‘Apollo Fence’ is low-cost, durable, and can be used to replace even the concrete boundary wall.

Market Trends

The growing need for border control and safety across energy and power is projected to emerge as the fastest-growing segment in the near. Increasing demand for anti-cut and anti-climb perimeter fencing and partitioning across the energy and power sector due to high-security concerns is again projected to spur the market growth of fencing. Moreover, expansion of the online distribution around the globe is further projected to augment the market growth of the fencing over the forecast period.

Growing strategic partnership and agreement among key manufacturers for market expansion is a key trend in the market. For instance, in June 2020, Eldaas Technologies India Pvt Ltd announces their distribution partnership on security & surveillance solutions with D-Fence Electronic Fencing and Security Systems Ltd, Israel. Eldaas Technologies offer a D-Fence solution to various customers in India.

Figure 2. Global Fencing Market Share, By Types, 2020

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Key Takeaways of the Graph:

• The Metal fencing segment held dominant position in the market and accounted for 52.0% share in the global fencing market in 2020 by types. The segment is expected to reach US $ 22923.89 Million by value in 2028.

Metal fencing offers more safety to the property than any other type of fencing, the growing need of security has put the demand for metal fencing, it is cost efficient, durable and affordable and it is 65% return on investment.

Market Restraints

Unlicensed contractors that use inferior products are another major factor expected to hamper the market growth of the fencing. Also, the high price of materials used such as iron, aluminum, and wood is again projected to hinder the market growth of the fencing.

Increasing energy costs is expected to restrict the adoption of the fence. This factor is playing a key role in hindering the market growth of the fencing over the forecast timeframe.

Competitive Section:

Company Names 

1. Allied Tube & Conduit
2. Ameristar Fence Products Incorporated
3. Associated Materials LLC
4. Bekaert
5. CertainTeed Corporation
6. Gregory Industries, Inc.
7. Long Fence Company Incorporated
8. Betafence NV
9. Jerith Manufacturing Company Incorporated
10. Ply Gem Holdings Incorporated
11. Poly Vinyl Company Incorporated