Fencing Market Analysis By Material (Metal, Wood, Plastic and Composite, and Concrete), By Application (Residential, Agricultural, and Industrial), By End Use, By Region (North America, Europe, Asia Pacific), And Segment Forecasts, 2018 - 2025

Industry Insights

The global fencing market size was valued at USD 24.22 billion in 2015 and is expected to gain momentum over the coming years. Activities such as new housing construction, improvement, and remodeling work are expected to drive industry growth over the forecast period. The rise in safety and security concerns and spending carried out for the rebounding office, transportation, and commercial constructions are further expected to spur the market growth.

Fencing products may witness a rise in demand due to the growing need for improving the appearances and value of the property. Accelerating institutional construction spending is anticipated to favor the fencing industry growth. The increase in government spending for enhancing parks, public places, and government premises is further predicted to drive the demand. Factors such as cost, quality, design, and aesthetic value are among the major buying criteria.

North America fencing market, by material, 2014 - 2025 (USD Billion)

The rising needs among farmers to safeguard their property and livestock has fueled the demand for fencing. The development of new materials that can bring down the cost and improve the durability may contribute to profitability over the forecast period. However, unlicensed contractors that use inferior products may act as a challenge for market expansion. The rise in the price of materials used, such as iron, aluminum, and wood, may restrict the industry growth over the next nine years.

Material Insights

The metal material segment is anticipated to remain the major segment over the forecast period and accounted for over 52% of the overall revenue in 2015. This can be attributed to the increasing use of fences in public places and government organizations. Chain link and ornamental fences may further drive the metal fence segment.

Wood may witness inter-product competition from plastic & composite over the forecast period owing to lower costs. Durability and high maintenance costs are presumed to hinder the growth of wood products. Low cost, durability, and low maintenance may drive the demand for plastic & composite over the forecast period. The concrete segment is expected to grow at a CAGR of over 6.1% from 2016 to 2025.

Application Insights

The residential segment is anticipated to be the key application segment over the forecast period and was valued at over USD 14 billion in 2015. The increase in construction and remodeling activities is expected to drive the segment growth over the next nine years.

The growing need to safeguard farm animals, crops, and farm areas from wild animals and thieves is anticipated to drive demand in the agricultural sector. The industrial segment may see growth owing to its demand from schools, colleges, and industrial premises.

End-use Insights

The military and defense end-use segment is propelling the industry growth and was valued at over USD 709.7 million in 2015. The increasing need for border control and safety is expected to drive the segment growth over the forecast period. The energy & power segment is predicted to emerge as the fastest growing end-use segment with a CAGR of 4.8% from 2016 to 2025.

North America fencing market, by application, 2015 (USD Million)

Regional Insights

North America and Europe are anticipated to be the key regional segments over the next nine years. The growing construction activity and demand for decorative home product are estimated to contribute to the regional growth. The North American regional market accounted for over 36% of the overall revenue share in 2015 and is expected to grow at a CAGR of around 4% over the forecast period.

More than 70% of the global consumption is expected from the middle-class spending of Europe and North America. The rising income levels across all sections is anticipated to lead to an increased per capita income level globally with more spending on house safety products, which represents a positive indicator for the global industry. The Asia Pacific regional market is also anticipated to gain traction over the forecast period owing to the presence of India, China, and Japan as well as the evolving agriculture sector.

Competitive Insights

The industry is highly competitive with a high degree of fragmentation and is dominated by a large number of local manufacturers catering to the needs of the customers of a particular region. Companies accounting for significant market shares include CertainTeed, Betafence, and Allied Tube & Conduit.

Existing players are extensively following various inorganic growth strategies including mergers and acquisition to consolidate their position and survive the competition. Other notable players include Tenax Group, Bekaert, Ply Gem Holdings, and Associated Materials LLC.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global & regional levels and provides an analysis of the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global fencing market on the basis of material, application, end use, and region:

• Material Outlook (Revenue, USD Million; 2014 - 2025)

  • Metal

  • Wood

  • Plastic & Composite

  • Concrete

• Application Outlook (Revenue, USD Million; 2014 - 2025)

  • Residential

  • Agricultural

  • Industrial

• End-use Outlook (Revenue, USD Million; 2014 - 2025)

  • Government

  • Petroleum & Chemicals

  • Military & Defense

  • Mining

  • Energy & Power

  • Transport

  • Others

• Regional Outlook (Revenue, USD Million; 2014 - 2025)

  • North America

  • Europe

  • Asia Pacific

  • RoW