The bollard market is anticipated to register significant growth in the next few years. Bollard is used to guide traffic flow toward the best suited direction while allowing pedestrian access. Bollards are used to distinguish between different traffic lanes, such as cycle lanes, vehicle lanes, and pedestrian lanes. They play a key role in improving traffic efficiency and avoiding crashes. They can be used for asset protection and separation of construction zones. The increasing number of road projects across the globe has fueled the use of bollards, especially near toll collection booths for efficient diversion of traffic. The use of plastic bollards is especially preferred to divert traffic as it causes minimum damage to vehicles in case of a crash. And retractable bollards add the benefit of restricting and allowing the flow of vehicular traffic in an area as and when required. Major players in the industry are focusing on developing bollards that sturdy and economical.
Description
A bollard is a short post that h is primarily used for creating a protective perimeter. Bollards are multi-functional and can be used to guide vehicular traffic, pedestrians, and mark parking spots. They are mainly made of plastic, steel, or concrete according to requirements. They are also used to define an architectural perimeter in gardens. For use as architectural elements, bollards are available in a wide range of colors, shapes, styles, and sizes. The use of bollards in essential as separation of various types of traffic helps in reducing crashes.
COVID-19 Impact analysis
- The COVID-19 pandemic caused a halt in the production of various products in the bollard industry, which has resulted in a worldwide lockdown. This has hampered the growth of bollard market in the last few months and is likely to continue during 2022.
- The major demand for bollards was previously noticed in countries including the U.S., India, Germany, Italy, the UK, and China, which are negatively affected by the spread of the coronavirus, thereby declining the demand for bollards.
- Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on their cash reserves. Bollard manufacturers can afford a full lockdown only for a few months, after which the players have to modify their investment plans. For instance, various players in the market halted their production activities for several weeks to reduce their expenses. On the contrary, few players also adopted employee lay-offs to sustain themselves during the COVID-19 health crisis
- Bollard manufacturers are expected to focus on protecting their workforce, operations, and supply chains to respond to immediate crises and find new ways of working after COVID-19. For instance, provision of sanitizers, maintaining social distancing, as well as ensuring the vaccination of every employee in the company can assist in promoting the health and safety of the workforce.
- The restrictions laid on public gatherings by governments across the globe have significantly reduced the number of people visiting corporate offices, shopping malls, and amusement parks, thereby decreasing the demand for bollards.
- COVID-19 has negatively affected the financial performance of many countries, thereby reducing the investments on infrastructural projects, and reducing the demand for bollard systems for toll collection applications.
Top Impacting Factors
Increase in private-public partnerships (PPPs) to promote infrastructural development is one of the important driving factors for the plastic bollard market, as they are extensively used on toll collection facilities. Furthermore, bollards are multi-functional and can be used for traffic guidance as well as aesthetic purposes. Availability of bollards in various materials, shapes, and styles significantly increases their applicability. For instance, plastic bollards are extensively used for traffic management in tool booths, whereas metal or concrete are more effective in segregating vehicular, bicycle, and pedestrian traffic. However, the permanent bollards are installed in the pavement and can be damaged during reconstruction or maintenance activities of the road, thereby negatively impacting the growth of bollard market. Advancements in technology are expected to boost the economy and provide significant growth opportunities in the coming years. For instance, the development of retractable barriers enables the usage of space according to requirements.
Market Trends
- Global urbanization has resulted in rapid construction of institutional and commercial buildings globally. Thus, creating a demand for bollards for efficient aesthetical purposes as well as segregation of different types of traffic.
- Major companies in the industry are focusing on expanding their product portfolio by providing a wide range of bollards. For instance, Leda Security Products Pvt. Ltd. has a large portfolio of bollards that includes industrial bollards, lighting bollards, architectural bollards, retractable bollards and card reader bollards.
- Many manufacturers of bollards are now concentrating on development of automatic bollards. For instance, Avians offers a wide range of automatic bollards that can safely and efficiently restrict the movement of vehicles. The automatic bollard systems can also be used in high security zones of government & military areas, corporate buildings, hospitality buildings, markets, entertainment events, sports centers, shopping centers, and pavilions.
Key Benefits of the Report
- This study presents the analytical depiction of the bollard industry along with the current trends and future estimations to determine the future investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the bollard market share.
- A quantitative analysis highlights the automatic shot blasting machine market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed bollard market analysis based on competitive intensity and how the competition will take shape in coming years.
Bollard Market Report Highlights
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 Key Market Players | Bravo Fence, Reliance Foundry Co. Ltd., FAAC Group, ATG Access, Tymetal Corp., EFAFLEX, Calpipe Industries, SlowStop Bollards, Ideal Shield, Marshalls Street Furniture |
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