The Global Barrier Systems Market Anticipated to Register a Revenue of $22,384.0 Million, Growing at a CAGR of 3.9% from 2021 to 2028 - Research DiveDownload Sample Reports Overview
The global barrier systems market is expected to be valued at $22,384.0 million by 2028, surging from $16,546.9 million in 2020 at a noteworthy CAGR of 3.9%.
Impact Analysis of COVID-19 on the Barrier Systems Market
The global barrier systems market has witnessed a slight negative impact throughout the COVID-19 pandemic. The outbreak impacted almost every industry in multiple ways including major obstructions in supply chain combined with delay in the ongoing projects across the globe. Contrary to this, majority of the leading companies operating in barrier system manufacturing such as TrafficGuard, a key player in bollard production, are developing new products, amidst the COVID-19 crisis. For instance, in February 2021, TrafficGuard has officially released, ‘TrafficGuard Core-In Protection Systems’, a new product line. The Core-In system is an ideal solution for storefronts and businesses; it is less expensive and provides quick installation. These novel product offerings may lead to attractive opportunities for investors, post the COVID-19 pandemic.
Global Barrier Systems Market Analysis
Barrier systems significantly help in decreasing vehicle collisions along with ensuring the safety of pedestrians. Also, in recent years, advanced barrier systems have been available in the marketplace which are equipped with automated control panels and mainly help in minimizing traffic congestion. Hence, the adoption of barrier systems across the globe has massively increased, which may further accelerate the global industry, in the coming years.
However, the low consumer awareness, higher cost, and interoperability and system integration issues are some major restraining factors that may create negative impact on the global barrier systems market.
New, innovative barrier systems technologies are helping make roads safer for the drivers. Key developments have been made in barrier design that ensure that the vehicles are redirected into the roadway, with minimized risks for pedestrians. Moreover, companies such as PEXCO, a U.S. based leading plastic extrusion firm, are coming up with novel innovations. The company now provides new ‘DP 200 EFX City Post’ barrier systems that mainly offer high performance and a slim, sleek profile. Such technological advancements are further expected to create extensive opportunities in the global barrier systems, in the coming years.
Global Barrier Systems Market, Segmentation
The global barrier systems market is segmented based on type, technology, material type, application, and region.
The type segment is further classified into bollard, fence, drop arm, crash barrier, gates, and others. Among these, the crash barrier is predicted to have the maximum market share and it is expected to cross $7,876.9 million by 2028, with the rise from $5,808.8 million in 2020.
The increasing awareness about road safety along with the effectiveness of roadside barriers is bolstering the global crash barrier systems market. Also, key factors such as Less maintenance required, decreased traffic jams and congestion, and supportive government initiatives are further expected to increase the adoption of crash barrier systems, which may ultimately propel the subsegment’s growth, during the analysis period.
The material type segment is further divided into metal and non-metal. The metal sub-segment is expected to have a dominating share in the global market and generate a revenue of $13,631.9 million, during the forecast period.
Metal barrier systems provide road infrastructure with revolutionary temporary barrier solution which mainly serves superior protection. Also, these barriers are cost-effective, lightweight, and excellent substitute to the traditional concrete barriers. Hence, the acceptance of metal barrier systems is increased, which may further accelerate subsegment’s growth, in the coming years.
The technology segment is further fragmented into rigid, semi-rigid, and flexible. The flexible sub-segment is expected to have the highest growth in the global market and generate a revenue of $4,620.7 million by 2028.
Flexible barrier systems are highly suitable for commercial and industrial environments majorly owing to the wide range of applications such as in vehicular traffic, the protection of machinery or storage assets from the accidental impact damage, and the segregation of pedestrians.
The application segment is further classified into railways, roadways, airport, and others. Among these, the roadways subsegment is expected to have a largest share and is projected to surpass $11,457.3 million by 2028, with the increase from $8,357.5 million in 2020.
Implementation of road safety programs combined with extensively increasing number of road accidents worldwide are some of the major reasons for the massive adoption of barrier systems. Moreover, growing demand for effective crowd management solutions like vehicle parking areas, entry and exit, and pedestrian safety are also flourishing the subsegment’s growth.
The barrier systems market for the Asia-Pacific region is anticipated to have a lucrative growth. This market generated a revenue of $3,574.1 million in 2020 and is further estimated to cross up to $5,036.4 million by 2028. The notable development of the commercial real estate, along with modification of the transport infrastructure across the Asian countries namely India, China, and Japan may foster the market growth, throughout the analysis period.
North America region dominated the barrier systems market in 2020 mainly owing to the high economic growth combined with growing government investments in infrastructure and construction development specifically in the U.S. and Canada. Also, companies operating in the regions, like Valmont Industries, Inc., a publicly held American leading manufacturer of highway safety products are coming up with novel innovations. For example, in December 2019, Valmont Industries, Inc. officially showcased the ‘HighwayGuard LDS’, a MASH 16 TL-3 steel barrier. It is built with T-connector, which significantly offers rapid installation, as well as separation of the barriers.
Key Players in the Global Barrier Systems Market
Some of the leading global barrier systems market players are –
- Lindsay Corporation
- DELTA BLOC International GmbH
- Hill & Smith Holdings PLC
- Valmont Industries, Inc.
- Guangxi Shiteng Transportation Engineering Co., Ltd.
- Nucor Corporation
- Arbus Ltd
- Avon Barrier Corporation Ltd
- Barrier1 Systems, LLC
Along with the company profiles of the key players in the market, the report includes the Porter’s five forces model that gives deep insights into the competitive environment of the market.
Porter’s Five Forces Analysis for the Global Barrier Systems Market
- Bargaining Power of Suppliers: Companies involved in the barrier systems business are high in number. Thus, the negotiation power of barrier systems supplier decreases.
Hence, the bargaining power of the supplier is low.
- Bargaining Power of Buyer: Buyers have moderate bargaining power, mainly because of the limited number of Barrier Systems service providers. Thus, the buyer can choose the service that best fits its preferences.
The bargaining power of the buyer is moderate.
- Threat of New Entrants: The startups entering this market are providing advanced solutions to the clients. Moreover, these organizations are mainly focusing on the implementation of multiple strategies, brand development, product innovation and many others.
Thus, the threat of the new entrants is high.
- Threat of Substitutes: There is no substitute available for the Barrier Systems.
Therefore, the threat of substitute is low.
- Competitive Rivalry in the Market: The ventures operating in the global Barrier Systems industry are opting for multiple businesses development strategies to stronghold their market position in the industry. Also, the key players like Lindsay Corporation, DELTA BLOC International GmbH, and Hill & Smith Holdings PLC are investing heavily to provide integrated services to the customers.
Therefore, competitive rivalry in the market is high.