According to a new report published by Allied Market Research, titled, “Barrier Systems Market by Device Type, Technology, Material Type, Application, and Distribution Channel: Opportunity Analysis and Industry Forecast, 2020–2027,” the global barrier systems market size was valued at $19.1 billion in 2019, and is projected to reach $25.4 billion by 2027, registering a CAGR of 3.7% from 2020 to 2027. The global barrier systems market was 34,353 thousand units by volume in 2019, and is projected to reach 49,415 thousand units by volume by 2027, registering a CAGR of 4.7% from 2020 to 2027.
Barrier systems are widely used as a safety solution in transport modes, including roadways, railways, and airport’s. Barrier systems are also used in commercial infrastructures such as corporate and institutional buildings, complexes, and residential areas.
Increase in investments in commercial infrastructure would create the need for effective crowd management solutions such as entry & exit, vehicle parking areas, and pedestrian safety. In order to cater to these needs, safety barrier systems such as bollards, swipe gates, guardrails, and drop arms are required, which in turn is expected to accelerate the growth of the global market.
Furthermore, investments in roadways, railways, and airport constructions will generate the need for the application of safety barrier systems to ensure safety of vehicles and pedestrians. Roadways include roads, highways, and bridges, which are expected to increase the demand for crash barrier systems with an aim to reduce the frequency of road mishaps. An expansion of the airport network would engender the need for bollards in the passenger queue, security check points, and entrance and exit, along with drop arms in vehicle parking areas, vehicle entrance, and others. Investments in railway infrastructure would create the need for drop arms, indicating lights and bollards installation. Thus, the expansion and modification of these modes of transportation are expected to fuel the global barrier systems market growth.
Europe hold a dominant position in the global barrier systems market, whereas Asia-Pacific is projected to be the fastest growing segment, registering a CAGR of 4.8%. This is attributed to rise in population, increase in purchasing power, and surge in government initiatives to expand the transport infrastructure especially roadways and highways. The crash barrier systems segment is expected to register a CAGR of 4.2% during the forecast period, owing to increase in investments in transport infrastructure around the globe. The demand for global market is expected to continue to grow during the forecast period, owing to expansion of transport infrastructure.
Furthermore, many companies adopted product launch, product development, and acquisition, as its key developmental strategies to sustain the intense competition and improve its product portfolio. For instance, in January 2020, Indian-based Valmont Structures Pvt Ltd acquired the share of AgSense for approximately $42 million. The AgSense company deals with highway barriers, road blockers, and other engineering products. Similarly, in August 2019, U.S.-based Lindsay Corporation launched Absorb-M Crash cushion system to control barrier systems. The Absorb-M system is wide and interchangeable, stackable element that reduces inventory costs. It is universal transition adapts to most portable or permanent barriers.
The key players profiled in the barrier systems market report include A-SAFE, Avon-barrier, Barrier1 Systems, Inc., DELTABLOC, Global GRAB Technologies, Inc, Gramm Barrier Systems Limited, Hill & Smith Barrier, Lindsay Corporation, Tata Steel Europe, and Valmont Structures Pvt. Ltd.
Key Findings Of The Study
The report provides an extensive analysis of the current and emerging barrier systems market trends and dynamics.
By device type, the crash barrier systems segment dominated the market, in terms of revenue in 2019 and is projected to grow at a CAGR of 4.2% during the forecast period.
By application, the roadways segment registered highest growth in the market in 2019.
The Asia-Pacific region is projected to register the highest growth rate in the coming years.
The report provides an extensive analysis of the barrier systems market trends and emerging opportunities of the market.
In-depth barrier systems market analysis is conducted by constructing estimations for the key segments between 2020 and 2027.