The U.S. fencing market size was valued at USD 8.8 Billion in 2023 and is anticipated to grow CAGR at 5.3% to reach USD 14.1 Billion by 2032.
Fort Collins, Colorado, May 04, 2024 (GLOBE NEWSWIRE) --
Fencing is a structure built around residential and commercial properties to ensure security, and privacy, give a pleasant look, and mark the territory of the property. Depending on the place of its application, different types of fences are preferred by the users namely, wooden, metal, concrete, and composite.
A major factor driving the U.S. fencing market is the security and safety of both residential and commercial property. The cases of trespassing, squatters, and burglaries have been steadily rising in the country, which has resulted in a greater number of people investing in building strong security and fencing at their residences. For commercial properties, owing to big heists in commercial and industrial sectors, the organizations are not risking relying solely on alarm clocks and CCTVs for protection. Thus, they are opting to strengthen their physical site security systems through fences around the area, thus driving the demand for the U.S. Fencing market.
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Segmentation Overview:
The U.S. fencing market has been segmented into fencing material, distribution channel, installation, and application.
U.S. Fencing Market Report Highlights:
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The U.S. fencing market growth is anticipated at a CAGR of 5.3% by 2032.
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Changing and improving lifestyles with the rising income levels and willingness of people to invest in home furnishing products is a major driving factor of the U.S. fencing market. This trend is majorly being observed in the young generation as they are willing to invest in investing in home décor products due to the trends of work-from-home and hybrid work conditions.
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Another factor contributing to the growth of the U.S. fencing market is the rising real estate sector in the country. It has been observed in the United States that the demand for luxury housing and single-family home building has grown tremendously in the past few years. This has also resulted in the growing demand for various types of fencing, both for security as well as for adding to the aesthetics of the property.
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Based on fencing material, metal fencing holds a substantial share. Metal fencing is majorly preferred by users as it is more durable and can last for around 20-30 years under all weather conditions. Also, these fences offer more strength, are cost-effective, need minimal maintenance, and go with any property style, thus also adding to the benefit of people looking for home aesthetic features along with security.