North America fencing is estimated to display a rapid CAGR of 7.0% during the forecast period (2021-2027). The demand for fencing is driven by the overall economic growth in the region, particularly in the US. The stable growth in the US is expected to spur industrial activities, which, in turn, will drive the requirement for fencing in all material types. Economic growth may result in higher industrial activities and increased construction of industries, all of which would generate higher product sales for fencing. However, the economic growth of the country declined in Q1 2020, which had a huge impact on the manufacturing and industrial sectors.
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In 2020, the GDP in the US was worth around $21 trillion, which represents 17.50% of the world economy. However, industrial production has slumped by 15% in Q1 2020, leading to a decline in industrial activities. The investments and new industrial factories and production sites are expected to remain stable during 2020?2021 due to the country’s financial position. Therefore, new industrial developments are expected to slow down, having a direct impact on the fencing market in the US. Private non-residential construction has witnessed high growth in the construction industry in 2019. Among the largest private non-residential segments, manufacturing and industrial construction have increased by 3.70%. Steel-based fencing has prominent demand in the US market. The steel production in the US has increased by 1.60% in 2019, which is 88 million metric tons of production from 86.60 million metric tons of production in 2018. The overall capacity utilization in 2019 averaged 79.30%, up from 2018, having an annual average of 78.90%. This number had a slight decline in 2020 due to the COVID-19 pandemic, and the market is expected to revive in 2022. PVC fabric fencing is gaining high traction due to the versatile properties of the material. It is widely used in industrial units such as residential due to its higher flexibility, minimum maintenance, and appealing aesthetics.
Market Coverage
· Market number available for – 2020-2027
· Base year- 2020
· Forecast period- 2021-2027
· Segment Covered- by Material, Distribution, End-use
· Countries Covered- US and Canada
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North America Fencing Market Report Segment
By Material
· Concrete
· Metal
· Plastic
· Wood
By Distribution
· Offline
· Online
By Distribution
· Agricultural
· Energy and Power
· Government
· Military and Defense
· Mining
· Petroleum and Chemicals
· Residential
· Warehouse
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