NEW YORK, March 30, 2017 /PRNewswire/ -- The global fencing market is anticipated to reach USD 37.41 billion by 2025, according to a new report by Grand View Research, Inc. Growth in remodeling projects & real estates is projected to propel the market sales over the forecast period. Commercial sectors including academic organizations and industrial premises employ fences to enhance the safety of people and property.
Expansion in the fencing market can be attributed to residential renovations and new construction projects. Security needs and 'transportation construction' investments are presumed to spur the industry growth. In addition, fences may experience a significant rise in demand due to the requirement for aesthetically appealing and novel property. Governmental investments for promoting safety and security at public premises and parks are further energizing the industry growth prospects.
Consumer preferences largely depend on the design, cost, quality, and appearance of the fence. The demand for fences among cultivators for protecting their livestock & property is substantially propelling the fence demand. Innovative materials that enhance durability at low costs tend to add market profits.
Further key findings from the study suggest:
Metal fencing is expected to dominate the market over the forecast period. It held a share of over 52% in 2015, which can be attributed to its usage across governmental organizations and public premises.
The residential application segment is expected to witness a phenomenal growth over the next nine years. Renovation and construction operations are remarkably driving the demand for this application.
The safety of farms, livestock, and crops from trespassers and wild animals may propel the fencing demand in the agricultural application segment.
The Asia Pacific regional industry is expected to witness surges in the demand for fences in agricultural applications. This surge may be attributed to its evolving agricultural sector, especially in emerging countries such as India and China.
The Asia Pacific region is expected to grow at a CAGR of 5.4% from 2016 to 2025.
The global fencing industry is characterized by intense competition with a highly fragmented market structure. It is led by several local manufacturers that meet the consumer needs by offering cost-efficient products.
The key market participants include Gregory Industries, Inc., Long Fence Company Inc., Betafence NV, Jerith Manufacturing Company Inc., Ply Gem Holdings Inc., Poly Vinyl Creations Inc., Allied Tube & Conduit, Ameristar Fence Products Incorporated, Associated Materials LLC, Bekaert, and CertainTeed Corporation.
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