The global Barrier Systems Market is growing rapidly, mainly due to the rising demand for innovative, cost-effective solutions that can enhance public safety, making roadways safer. Besides, increasing investments in the upgrades of aging transport infrastructures support the growth of the market. These are exciting times in the barrier systems industry, witnessing increased spending on road safety and transport infrastructures.
Moreover, new road development projects escalate the market growth. According to Market Research Future (MRFR), the global barrier systems market is poised to create an impressive valuation by 2030, growing at modest CAGR during the forecast period (2022-2030). Increasing road development activities induce the demand for road barriers, which can denote detours, parking areas, and separate traffic lanes for different vehicles.
Additionally, growing application areas of barrier systems, including well linings, low-water bridges, load-bearing walls, and others, influence the market growth. Furthermore, the rise in investments in commercial and public transport industries pushes the growth of the market.
On the flip side, the price volatility and demand-supply gap in the raw materials required for the production of barrier systems are major factors hampering the growth of the market. Also, high repair and maintenance costs of barrier systems restrain the market growth. Nevertheless, rapidly improving road safety regulations and expanding awareness would support the market growth throughout the assessment period.
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Barrier Systems Market – Segments
The report is segmented into material, type, function, application, and region. The material segment is sub-segmented into metal, plastic, concrete, and others. The type segment is sub-segmented into guardrails, bollards, beam barriers, and others. The function segment is sub-segmented into active and passive.
The application segment is sub-segmented into railways, roadways, residential, and others. By regions, the market is sub-segmented into Asia Pacific, Americas, Europe, and rest-of-the-world.
Barrier Systems Market – Geographical Analysis
The Asia Pacific region dominates the global barrier systems market. The largest market share attributes to massive investments in infrastructure development projects and growing numbers of roadways and railways infrastructures. With its vast raw material advantages and cost-competitive workforces, the region has long been attracting foreign investments.
Besides, rising government emphasis on human safety to minimize accidents and traffic violation rates act as significant growth propellers. Additionally, rapidly improving economy in the region is fueling infrastructure development investments. With its increased budgets on road development projects, China leads the regional market, followed by India and Singapore.
North America and Europe also hold considerable shares in the global barrier systems market. Vast adoption of intelligent barrier systems, growing infrastructure construction works, and substantial investments by public and private organizations in the infrastructure redevelopment projects are major factors boosting the market size in these regions.
Furthermore, increasing infrastructure development projects in these regions, led by huge investments, positively impacts the growth of the barrier systems market. Large countries such as the US, UK, Germany, and Canada, backed by the rising road building and repair & upgrade works, contribute to the growth of their respective regional markets, majorly.
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Barrier Systems Market – Competitive Landscape
Highly competitive, the global barrier systems market appears to be fragmented, with many well-established players forming a competitive landscape. To gain a substantially larger share of the market, these players incorporate strategies such as innovation, mergers & acquisitions, and brand reinforcement.
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Industry/ Innovation/ Related News:
March 15, 2021 — E3 Saxo Bank Classic, an annual road cycling race in Flanders, introduced new roadside barriers alongside a robot that measures body temperature and instructs spectators to wear a mask. The new barriers produced to increase safety in sprint finishes are developed by Belgian company BoPlan. These roadside barriers are made out of impact-absorbing polymers and have no feet that can cause crashes in finishing sprints.
March 16, 2021 — Barrier1 Systems, LLC (Barrier1 Systems – the US), a leading provider of robust physical barriers and security solutions, announced its partnership with Cepton to deploy state-of-the-art lidar-based security and safety systems for global customers. Collaboration enables the next generation of accurate perimeter surveillance, safety, and security applications.
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