The Barrier Systems Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Barrier Systems Global Market Report 2024, The barrier systems market size has grown strongly in recent years. It will grow from $19.4 billion in 2023 to $20.74 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to road safety regulations, infrastructure development, rise in automotive accidents, focus on work zone safety, public awareness of road safety, stringent safety standards.
The barrier systems market size is expected to see strong growth in the next few years. It will grow to $26.24 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to smart transportation systems, focus on sustainable infrastructure, urban mobility solutions, resilience to climate change, rise in demand for high-performance barriers. Major trends in the forecast period include innovations in crash barrier technologies, integration of smart technologies, sustainable and eco-friendly materials, customization for specific applications, integration with intelligent transportation systems.
Increasing incidents of road accidents are expected to propel the growth of the barrier systems market going forward. A road accident refers to an incident involving the crashing of a motor vehicle that leads wounded or killed at least one person. Barrier systems are used to prevent vehicles from leaving the road and colliding with roadside hazards such as slopes (roadside barriers) that pass into the line of oncoming traffic and also assist in controlling vehicle speeds, managing lanes and traffic flow, and guiding traffic away from any road dangers. For instance, in August 2022, according to the National Highway Traffic Safety Administration, a US-based government agency, 9,560 individuals died in traffic accidents in the first quarter of 2022, an increase of 7% compared to the 8,935 fatalities for the same time period in 2021. Therefore, an increase in road accidents drives the growth of the barrier system market.
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The barrier systems market covered in this report is segmented –
1) By Type: Bollards, Fences, Crash Barrier Systems, Drop Arms, Wedge Barriers, Gates, Net Barriers, Guardrails, Other Types
2) By Function Type: Passive Barriers, Active Barriers, Access Control Device, Token And Reader Technology, Bio-Metric Systems, Perimeter Security Systems, Turnstile, Anti-Pass Back
3) By Material Type: Metal, Plastic, Concrete, Other Material Types
4) By Technology: Rigid, Semi-Rigid, Flexible
5) By Application: Roadways, Railways, Commercial, Residential, Airports, Military Areas, Waterways, Racing Tracks, Other Applications
Product innovations are the key trend gaining popularity in the barrier systems market. Major companies operating in the barrier systems market are focusing on innovative products to sustain their position in the market. For instance, in May 2022, Seton UK, a UK-based manufacturer of workplace safety products, launched EasyExtend, a new modular retractable barrier system. It is a new retractable barrier system with distinct features and advantages for use in industrial and outdoor settings. It has a larger span than comparable retractable barriers on the market, resulting in more efficient resource utilization. It can be used with ordinary traffic cones or fastened directly to walls or other surfaces using its dedicated post and base system. The EasyExtend also stores all of the barrier components inside the base, making it perfect for quick and easy assembly in the event of a hazard and storing in stacks with little space.
The barrier systems market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
Major Players:
- Tata Steel Limited
- N.V. Bekaert S.A
- Trinity Industries Inc
- Lindsay Corporation
- Valmont Industries Inc.
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