Automatic Boom Barriers to Account for 2/3 Overall Market Share, Evaluates Fact.MR
Published : 01 Jul 2021 Industry: Industrial Goods
As per a new report by Fact.MR - a market research and competitive intelligence provider, the global automatic barriers market is anticipated to progress at a steady 5.4% CAGR through 2031.
Europe is the leading market due to flourishing industrial & commercial sectors and increased spending on advancement of infrastructure and residential safety, which has led to robust demand for automatic barriers in the region. Some other factors that contribute towards increasing demand for automatic barriers is growing need for security, lessening of traffic, and high use in government sectors such as defence and military.
Spending on research & development is relatively high and has led to the development of new technologies that reduce the installation & operational costs of automatic barriers. Furthermore, increasing awareness associated with advantages of automatic barriers over manual barriers will pave the path for steady market growth over the coming years.
Key Takeaways from Market Study
- The global automatic barriers market is expected to add 1.7X value by 2031 as compared to 2021.
- Boom barriers account for substantial chunk of the market, equivalent to two-third of the global market share.
- Aluminium as a material is the fastest-growing segment in the market, owing to rapid growth in demand from emerging economies, especially India and China.
- Among the applications, railway crossings account for the highest share of around 35%.
- Bollard type automatic barriers are anticipated to hold around 24.5% market share by 2031.
- Europe is set to hold a leading share by the end of FY2031, and will be the fastest-growing regional market through 2031.
- After initial setbacks as a result of the COVID-19 outbreak, the market for automatic barriers is set to recover by the second quarter of 2021.
“The security and safety element in residential and commercial spaces has provided essential thrust to the demand for automatic barriers,” says a Fact.MR analyst.
- Important players have been investing in R&D to build technology that imparts longer lifespan and greater operational versatility. In the medium- to long-term forecast period, these enhancements will drive demand for automatic barriers.
- Product launches and collaborative approaches by leading players such as Nice, Came, Lindsay Corporation, and Hill & Smith Holdings have created demand for automatic barriers for shopping malls and gated communities.
- Numerous developing nations in South America, Africa, and the APAC region has been witnessing modernization and rapid growth. There has been massive development in toll booths and highways, driving demand for automatic barriers.
- Over the past years, increasing number of vehicles has led to the adding of new toll booths or by increasing existing toll lanes. Such developments will raise demand for automatic barriers over the coming years.
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global automatic barriers market, presenting historical market data (2016-2020) and forecast statistics for the period of 2021-2031.
The study reveals essential insights on the basis of device (boom barriers, bollard, gates, and height restrictors), material (aluminium, steel, and iron), application (railway crossings, toll plazas, airports, perimeter security, and others), and by end user (residential, commercial, and government) across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).
Fact.MR’s Domain Knowledge in Industrial Goods
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned consumer products team at Fact.MR helps clients from across the globe with their unique business intelligence needs.
With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the industrial goods domain across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
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Consultant – Industrial Goods