According to a new report published by Allied Market Research, titled,Crash Barrier Systems Market by Type (Portable and Fixed), Technology (Rigid, Semi-rigid, and Flexible), and Application (Roadside, Median, Bridge, and Work zone): Global Opportunity Analysis and Industry Forecast, 2021–2030
Prime determinants of growth
Expansion of infrastructure, increase in road safety awareness, and growth in the automotive industry drive the growth of the global crash barrier systems market. However, high severity of crash in barrier collision and volatility in raw material & energy prices hinder the market growth to some extent. On the other hand, increase in financing for infrastructure projects is presenting new opportunities in the coming years.
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- The outbreak of the Covid-19 pandemic witnessed a negative impact on the crash barrier systems market, owing to temporary closure of production facilities of many items in the crash barrier system business.
- Nevertheless, crash barrier system companies are reinitiating their investments at their full-scale capacities, which is anticipated to aid the crash barrier systems market to recover by the start of 2022.
The fixed segment to maintain its leadership status throughout the forecast period
Based on type, the fixed segment held the highest market share in 2020, accounting for more than two-thirds of the global crash barrier systems market, and is estimated to maintain its leadership status throughout the forecast period. Moreover, the same segment is projected to manifest the highest CAGR of 4.4% from 2021 to 2030. This is due to the rapid increase in vehicle density and road accidents. Other segment analyzed in the report is portable.
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The roadside segment to maintain its lead position during the forecast period
Based on application, the roadside segment accounted for the largest share in 2020, contributing to around half of the global crash barrier systems market share, and is projected to maintain its lead position during the forecast period. An increase in the global population along with the booming automotive industry and road constructions are expected to witness an accelerating growth in the future; thereby, providing lucrative growth opportunities for the crash barrier market. However, the median segment is expected to portray the largest CAGR of 4.6% from 2021 to 2030. This is attributed to increase in vehicle density in urban areas and ever-increasing traffic congestions.
Asia-Pacific, followed by Europe & North America, to maintain its dominance by 2030
Based on region, Asia-Pacific, followed by Europe & North America, held the highest market share in terms of revenue in 2020, accounting for around two-fifths of the global crash barrier systems market. Moreover, the same region is expected to witness the fastest CAGR of 5.0% from 2021 to 2030. This is attributed to increased road and highway infrastructure development projects. Other regions discussed in the report include North America, Europe, and LAMEA.
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.
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