Portland, OR, Aug. 18, 2020 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global barrier systems market generated $19.2 billion in 2019, and is estimated to reach $25.4 billion by 2027, registering a CAGR of 3.7% from 2020 to 2027. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenarios.
Surge in need for effective crowd management solutions in commercial areas is expected to increase the demand for swipe gates, bollards, drop arms, and guardrails drives the growth of the global barrier systems market. In addition, various highways authorities across the globe have imposed stringent regulations to install crash barriers along the highways, supplements the market growth. However, high repair and maintenance cost of barrier systems hinder the market growth. On the other hand, development of intelligent automated crash barriers for bridge, highways, traffic diversions, and tunnels creates new opportunities for the market player in the coming years.
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Covid-19 scenario:
- Several major market players have halted the production of barrier systems amidst the lockdown.
- The demand for barrier systems is likely to increase during the COVID-19 pandemic to maintain the social distancing between the people in order to stop the spread of the corona virus in public and commercial areas.
- The revenue generated from the roadways segment will be reduced for a few months as the installation of crash barrier systems has been halted amid lockdown due to the COVID-19 pandemic.
The report offers detailed segmentation of the global barrier systems market based on device type, material, technology, application, and region.
Based on material, the metal segment contributed to the largest share in 2019, accounting for nearly two-thirds of the total share, and is estimated to maintain its dominant position during the forecast period. In addition, it is also estimated to portray the highest CAGR of 4.1% during the forecast period.
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Based on technology, the semi rigid segment accounted for the largest share in 2019, holding more than half of the total share, and is expected to maintain the largest share throughout the forecast period. However, it is also expected to register the highest CAGR of 4.0% from 2020 to 2027.
Based on region, Europe contributed the highest share, accounting for more than two-fifths of the total market share in 2019, and will maintain its dominance throughout the forecast period. However, Asia-Pacific is expected to grow at the highest CAGR of 4.8% from 2020 to 2027.
Leading market players analyzed in the research include Avon-barrier, A-SAFE, DELTABLOC, Barrier1 Systems, Inc., Gramm Barrier Systems Limited, Global GRAB Technologies, Inc, Lindsay Corporation, Hill & Smith Barrier, Valmont Structures Pvt. Ltd., and Tata Steel Europe.
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