Fencing Market is expected to display higher growth rate over the next seven years. Rapid surge in the market of fencing is credited to rapid growth in residential as well as commercial housing sector. Increasing number of activities involving new housing construction, improvement, and remodeling work is expected to drive the growth of fencing industry over the forecast period. Growing concerns related to safety and security among homemakers is anticipated to fuel market demand for fencing services over the coming years. Globally, the fencing market is predicted to generate massive revenue over next seven years, providing numerous opportunities for market players to invest for research and development in the industry.
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The key driving factors responsible for the growth of Fencing market
:
Rising investment for the
reconstruction of offices, building transportation facilities and commercial
construction is predicted to spur the market growth over the forecast period.
Different fencing products & equipment are witnessing large-scale demand
owing to the shifting focus by owners to improve the appearances and value of
the property. In addition, massive spending by government institutions is
predicted to favor the fencing industry growth over the forecast period.
Growing adoption of fencing services for improving parks, public places, and
government premises is further propelling market demand in the past few years.
Cost, quality, design, and aesthetic value are key evaluating factors while
selecting fencing services.
Increasing adoption of fencing
services from agriculture sector to safeguard their property and livestock is
projected to stimulate market growth as well. Development of new materials to
enhance the durability is latest market trend, which is significantly contributing
to profitability over the forecast period. However, rising number of local
market players with invalid licenses serves as key challenge for market growth.
Wood and metal wires are the two common raw materials used for fencing due to
their low cost, durability, easy availability and low maintenance.
The fencing market is broadly
categorized into three major segments based on the application type such as
residential sector, agriculture sector and industrial sector. The residential
segment is growing rapidly in the fencing industry with substantial revenue
generation in the last few years. Growing demand for fencing services from the
residential segment is attributed to the robust growth in housing sector and
ever-growing population. The agriculture sector segment has also witnessed
substantial growth due to increasing concerns regarding safety and security of
crops .
The fencing market is divided by
region as North America, Europe, Asia-Pacific, Latin America and Africa. North
America has shown major growth in recent years owing to the rise in the
implementation of latest techniques in residential housing sector, rising
concerns regarding safety and security among homemakers, surge in number of
research & development activities, and existence of well-established
industrial infrastructure in the region.
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