LONDON, Jan. 17, 2017 /PRNewswire/ -- The U.S. fencing market is expected to reach USD 11.15 billion by 2024, according to a new report by Grand View Research, Inc. The U.S. fencing market is a developed industry that is anticipated to keep growing at a steady CAGR over the coming years. It comprises different types of material fences including wood, metal, plastic, and concrete, among others that find their usage in the residential, agricultural, and industrial applications.
A booming construction market for the residential and commercial buildings in the country is acting as a major catalyst in helping the market grow. The majority of demand for fences originates in the same sector as security and privacy concerns are on the rise.
The availability of a wide range of products with varying colors, features, and designs, coupled with customizable products and solutions available in the market, are conducive to the market growth. The government initiatives and investments in infrastructure development and construction projects are also aiding in the industry's growth in different verticals.
The U.S. fencing industry has seen many new enhancements in terms of technology in products as well as the manufacturing of products. This, coupled with a developed distribution network and strong manufacturing lineups in the country, is propelling the launch of new and improved products into the market. Though the market largely depends on the raw material suppliers and big metal suppliers, a stable economy and the developing real estate market are helping the fencing industry thrive in the region.
Further key findings from the report suggest:
The industry is driven by a number of factors, among which the growing residential sector and real estate developments are the major impetus
The demand for decorative and aesthetically enhanced products and solutions is on the rise with a greater emphasis on customized solutions
The industry is witnessing a high level of competition and is dominated by a few international players that have global operations, despite which a number of regional and local companies continue to thrive in their respective markets
The key industry participants include Ameristar Fence Products Inc., Bekaert, Beta Fence NV, Ply Gem Holdings, Inc., and Long Fence Company, Inc.
Companies such as Allied Tube and Conduit, Associated Material LLC, CertainTeed Corp., Gregory Industries, Inc., Jerith Manufacturing Company, Inc., and Poly Vinyl Creations are some other prominent players in the industry
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