Electric Fencing Market Revenue, Future Growth, Trends, Top Key Players, Business Opportunities by 2029
The global electric fencing market size stood at USD 305.5 million in 2021. The market could surge from USD 321.1 million in 2022 to USD 484.2 million by 2029 at 6.04% CAGR during the forecast period. Fortune Business Insights™ has deep-dived these inputs in its latest research report, titled, “Electric Fencing Market, 2022-2029.”
According to the analysis, electric fencing has become sought-after for lightweight, easy installation, and increased capacity. Barbed electric wires will gain prominence on the back of increased application to close international boundaries. With a surge in demand for such fencing systems for agricultural and storage center security, industry players will continue investing in the landscape.
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Major Players Profiled in the Report:
- Dare Products (U.S.)
- Gallagher (U.S.)
- High Tech Pet (U.S.)
- Kencove (U.S.)
- Mpumalanga (South Africa)
- Parker McCrory Mfg Co (U.S.)
- PetSafe (U.S.)
- Premier1Supplies (U.S.)
- Tru-Test Group (New Zealand)
- Woodstream (U.S.)
Russia-Ukraine War Impact
Robust Demand for Advanced Security Solutions to Underpin Growth
Russia’s invasion of Ukraine has brought a paradigm shift in the global landscape. Governments have exhibited profound traction for advanced security solutions to enhance defense mechanisms. For instance, Asia Pacific has become one of the major markets for electric fence systems amidst escalating border disputes. The penetration of smart sensors, smart electric fences, and cutting-edge surveillance systems will bode well for the industry outlook.
Reduced Demand from Industrial Sector Challenged Stakeholders
The onslaught of the COVID-19 outbreaks did not augur well for the business growth as production dipped across major economies. The pandemic compelled several stakeholders to either postpone projects and close operations. Moreover, the shortage of skilled workers further jolted the growth forecast. Reduced demand from defense and commercial sectors challenged leading companies gearing to boost their portfolios. However, industry players expect the next few years to provide promising opportunities.
Permanent Fence to Remain Dominant Due to Rising Border Disputes
In terms of type, the market is segregated into portable fence and permanent fence. Stakeholders expect the permanent fence segment to remain dominant due to increasing incidence of infiltration and border disputes.
Agriculture Sector Exhibited Profound Demand to Protect Crops from Animals
With respect to application, the market is segmented into wild animals, agriculture, security, pets, and others. The agriculture segment will grow during the forecast period due to the rising need to protect crops from domestic and wild animals.
The report offers a comprehensive perspective of the market size, share, revenue, and volume. It has deep-dived into SWOT analysis. Quantitative and qualitative assessments have provided a holistic view of the market. The primary interviews validate assumptions, findings, and the prevailing business scenarios. The report also includes secondary resources such as annual reports, press releases, white papers, and journals.
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Drivers and Restraints
Heightened Demand from Defense Sector to Underpin Industry Growth
The electric fencing market growth will witness an upward trajectory due to bullish demand from armed forces. For instance, BRICS members have become a major recipient of barbed electric wires amidst rising border conflicts. To illustrate, Russia has reportedly installed electric fencing along its border with China. Governments could further their investments in electric cobra wires over the next few years. Moreover, the adoption of IoT solutions to boost security management will augur well for the industry outlook. Besides, the agriculture sector will continue to inject funds into advanced fences using electric shocks. Meanwhile, an increased maintenance cost could impede the industry growth during the assessment period.
North America to Gain Ground with Increasing Focus on Security
Industry players expect the North America market forecast to be strong on the back of soaring demand to bolster national security. For instance, the U.S. has augmented investments in electric fencing systems on the U.S.-Mexico border. Increased demand for security and agriculture applications will encourage leading companies to boost their regional presence.
The Asia Pacific electric fencing market share will be noticeable in the wake of bullish defense budgets across China, India, and Australia. Emerging and advanced economies could seek chain-link fencing, barbed wire, razor wire, and concertina coils to bolster their security portfolios.
Stakeholders expect Europe to account for a considerable share of the global market due to robust demand for homeland security. Portable fencing could gain prominence due to its high flexibility, easy installation, low cost, and low maintenance. Besides, governments and other stakeholders will also exhibit traction for permanent fencing to discourage infiltration.
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Stakeholders Invest in Product Launches to Boost Portfolios
Prominent players could inject funds into mergers & acquisitions, product rollouts, technological advancements, and R&D activities. Besides, significant companies could invest in innovations and product offerings in the ensuing period.
Key Industry Development
- September 2019 – Parker McCrory Mfg. Co. introduced electric fencing chargers Model MAG-12-U.O. and MAG-12-SP to pass 12-volt electricity for medium to big pastures.
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