Due to increased investment in building and road infrastructure, the crash barrier systems market has grown significantly over the last decade.
WILMINGTON, DELAWARE, UNITED STATES, May 21, 2024 /EINPresswire.com/ — Key Factors Influencing Growth
The global crash barrier systems market is driven by infrastructure expansion, increased road safety awareness, and growth in the automotive sector. Nevertheless, the market faces challenges such as high crash severity in barrier collisions and fluctuations in raw material and energy prices. On the upside, increased funding for infrastructure projects presents new growth opportunities.
According to a new report published by Allied Market Research, titled, , the global Crash Barrier Systems industry generated $7.8 billion in 2020, and is anticipated to generate $11.7 billion by 2030, witnessing a CAGR of 4.2% from 2021 to 2030.
The report offers an in-depth analysis of the current and emerging trends and dynamics in the crash barrier systems market.
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Market Insights
Type Segment: In 2020, the fixed segment led the market in revenue and is expected to grow at a CAGR of 4.4% over the forecast period.
Application Segment: The roadside segment saw the highest growth in 2020 and is anticipated to continue its lead.
Regional Growth: The Asia-Pacific region is projected to experience the highest growth rate in the coming years.
Driving Forces
Investments in highway, railway, and airport development necessitate the use of safety barrier systems to protect vehicles and pedestrians. The demand for crash barrier systems is expected to rise in roadways—including roads, highways, and bridges—to help reduce traffic collisions. Additionally, increased commercial infrastructure investments will require effective crowd management solutions, such as entry and exit systems, parking areas, and pedestrian safety measures, further driving the market forward.
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Segment Analysis:
Fixed Segment: This segment held the largest market share in 2020, accounting for over two-thirds of the global market, and is expected to maintain its dominance with a projected CAGR of 4.4% from 2021 to 2030. The growth is attributed to the rising vehicle density and road accidents.
Portable Segment: Also analyzed in the report.
Roadside Segment: Contributed to about half of the market share in 2020 and is expected to maintain its lead due to the growing global population, booming automotive industry, and increasing road construction projects. However, the median segment is anticipated to have the highest CAGR of 4.6% from 2021 to 2030, driven by rising vehicle density in urban areas and escalating traffic congestion.
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Leading Market Players:-
Arbus Limited
Avon Barrier Corporation Ltd
Barrier1 Systems, LLC
Hill Smith Holdings PLC
Lindsay Corporation
Nucor Corporation
N.V. Bekaert SA
Transpo Industries, Inc.
Trinity Industries, Inc.
Valmont Industries, Inc.
David Correa
Allied Market Research
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