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Market Size and Trends

The Fencing Market is estimated to be valued at USD 32.91 Billion in 2024 and is expected to reach USD 48.73 Billion by 2031, exhibiting a compound annual growth rate (CAGR) of 5.8% from 2024 to 2031.

Fencing Market Key Factors

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Factors such as a rise in the adoption of smart fencing technologies integrated with IoT capabilities and surveillance cameras for enhanced security and growing need for perimeter security across residential and commercial complexes are expected to drive the demand for fencing. Additionally, rising spending on infrastructure development worldwide and increasing usage of fencing in agricultural sector for livestock management are further expected to support the market growth during the forecast period.

Rising Home Values and Remodelling

As home values continue to appreciate year after year in many markets across the country, homeowners feel more comfortable investing larger amounts of money into upgrades and renovations for their homes. Fencing is one of the most common outdoor projects that homeowners tackle when they want to increase their property's curb appeal and security. Replacing or installing new fencing has become a very popular remodeling and renovation project. Contractors report steady demand from homeowners’ association for community-wide fencing replacements. This driver bodes well for continued demand for fencing for both residential and light commercial applications.

For instance, in August 2021, the National Association of Home Owners' Maryland-based Home Renovation Research Lab, which conducts research on building trends, reported a significant increase in home fencing since the pandemic, with around 320 million linear feet of new fencing installed in the U.S.

Increasing Importance of Home Security

With growing concerns over safety and security, having proper fencing has become a priority for many homeowners. News reports of break-ins, theft and property damage have contributed to rising fears. Homeowners seek reassurance that comes with fences that clearly mark the boundaries of their property and deter intruders. Fencing companies have responded with products customized for residential security needs including reinforced panels, anti-climbing electric fences, and smart locks for automated gates. This concern for safety enhances demand and drives homeowners to fortify and enclose their properties.

For instance, in August 2023, the U.S. Representative Pramila Jayapal, D-Seattle, spent over US$ 45,000 on home security in 2023, using campaign funds, as reported by Federal Election Commission records. As the leader of the Congressional Progressive Caucus, Jayapal is among many congressional leaders who have increased their spending on personal security. This trend has grown since the January 6, 2021, Capitol riot and the heightened polarization in the political climate.

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