As per the assessment published by Market Research Future (MRFR), The market is expected to attain this value at a global CAGR of 3.3% during the forecast period that will be ending in 2028. The expansion of the market is supported by the growth of the two major industries – construction and automotive. Both the industries have been witnessing substantial revenue generation and are likely to exhibit the same trend in the years to come.
The red flags raised by the alarming rate of road accidents are expected to propel the expansion of the Crash Barrier Systems Market. According to the World Health Organization (WHO), around 1.25 million people lose their lives in road accidents every year. It further indicates that on average 3,287 people are dying every day in these accidents. In addition, 20-50 million people are either severely injured or disabled every year. It has gained the attention of the governments who are investing in the deployment of effective crash barrier systems for ensuring road safety.
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The focus on infrastructural development and expansion of road networks is prognosticated to drive the proliferation of the crash barrier systems market globally over the next couple of years. Furthermore, the increase in the road traffic coupled with the growth of the transportation industry is anticipated to favor the expansion of the crash barrier systems market in the foreseeable future.
By type, the global crash barrier systems market has been segmented into movable barriers and immovable barriers.
By technology, the crash barrier systems market has been segmented into rigid (pre-cast and concrete barriers), semi-rigid (box beam barriers) and flexible (chain and cable barriers).
By device, the global crash barrier systems market is segmented into water & sand –filled plastic barrels, crash cushions, gating & non gating end treatment, GEAT (Guardrails Energy Absorbent Terminals), and others.
On the basis of application, the crash barrier systems market has been segmented into median barriers, roadside barriers, work-zone barriers, bridge barriers, and others (pedestrian footpaths and hilly terrain barriers).
The regional assessment of the global crash barrier systems market encompasses North America, Europe, Asia Pacific, and the Rest of the World (ROW). Among these, Asia Pacific has secured the forefront position in the global marketplace. The presence of fast-developing nations in the region is leading to the expansion of the crash barrier systems market in the region. The rising investments in infrastructural projects for roadways expansion are leading the expansion of the market in the region. Investments are presumed to flow towards the country-level markets of China and India. It has been prognosticated to revolutionize the future trajectory of the crash barrier systems market across the review period.
North America is an important growth pocket and is forecasted to proliferate over the next few years. Meanwhile, Europe and RoW are also poised to exhibit steady growth in the forthcoming years.
Some of the key players profiled in the report are Nucor Corporation, Delta Scientific Corporation, Avon Barrier Corporation Ltd, Bekaert SA, Transpo Industries Inc., Gibraltar, Arbus Ltd, Tata Steel Limited, FutureNet Group, Trinity Industries Inc., Lindsay Corporation, FutureNet Group Inc., Automatic Systems SA, Hill & Smith Holdings PLC, Valmont Industries Inc., A-Safe Ltd, and Barrier1 Systems Inc.
In January 2019, the Pulaski Skyway, which connects the Holland Tunnel to Lower Manhattan, has got a median barrier system, Valentine F350, for enhancing its lifespan.
In January 2019, Ocean City, the U.S., officials have authorized the next phase of the Boardwalk access control project. A series of permanent as well as semi-permanent barrier systems are being explored for the purpose.
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