The global fencing market is set to reach AU $54.2 Billion by 2025.
Growth in remodeling projects and real estate is projected to propel the market sales over the forecast period, according to a report by Research and Markets.
Commercial sectors including academic organisations 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 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 energising 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 and property is substantially propelling the fence demand.
Innovative materials that enhance durability at low costs tend to add market profits.
The future of fencing:
- Metal fencing is expected to dominate the market over the forecast period. This can be due to its usage across government organisations and public premises.
- The residential application segment is expected to witness a phenomenal growth over the next six 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 5.8% from 2019 to 2025.
- The global fencing industry is characterised by intense competition with a highly fragmented market structure.
This article was first published in The Fence magazine.