New York, Aug. 04, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Barrier Systems Global Market Report 2023" - https://www.reportlinker.com/p06479793/?utm_source=GNW
, Barrier1 Systems LLC, A-Safe HQ Limited, BBS Barriers, HySecurity Inc., Concentric Security, Senstar Corporation, Betafence Corporation, and Global GRAB Technologies Inc.
The global barrier systems market is expected to grow from $18.09 billion in 2022 to $19.40 billion in 2023 at a compound annual growth rate (CAGR) of 7.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The barrier systems market is expected to reach $24.62 billion in 2027 at a CAGR of 6.1%.
The barrier systems market consists of revenues earned by entities by providing access control system, perimeter detection systems, pedestrian management, video surveillance. and classification systems. The market value includes the value of related goods sold by the service provider or included within the service offering. The barrier systems market also includes sales of wire-rope barriers, traffic barricades, a-frame barriers, concrete barriers, traffic cones, and plastic pedestrian barriers. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Barrier systems refer to a system created and implemented to fulfill one or more barrier functions that are used as the outermost layer of security. It is used as the comprehensive physical security system for the property when paired with a security alarm and cameras.
Europe was the largest region in the barrier systems market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in barrier systems report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of barrier systems are bollards, fences, crash barrier systems, drop arms, wedge barriers, gates, net barriers, guardrails, and others.Bollards refer to short, sturdy concrete posts that are used to block access to private property or portions of roads and that are used to prevent vehicle theft from the property and will also deter unauthorized vehicles and would-be thieves from accessing these locations.
The various function provided is passive barriers, active barriers, access control device, token and reader technology, bio-metric systems, perimeter security systems, turnstile, and anti-pass back that uses different types of materials such as metal, plastic, concrete, and others. The different technologies included are rigid, semi-rigid and flexible that are used in various applications such as roadways, railways, commercial, residential, airports, military areas, waterways, racing tracks, and others.
Increasing incidents of road accidents are expected to propel the growth of the barrier systems market going forward.A road accident refers to an incident involving the crashing of a motor vehicle that leads wounded or killed at least one person.
Barrier systems are used to prevent vehicles from leaving the road and colliding with roadside hazards such as slopes (roadside barriers) that pass into the line of oncoming traffic and also assist in controlling vehicle speeds, managing lanes and traffic flow, and guiding traffic away from any road dangers.For instance, in August 2022, according to the National Highway Traffic Safety Administration, a US-based government agency, 9,560 individuals died in traffic accidents in the first quarter of 2022, an increase of 7% compared to the 8,935 fatalities for the same time period in 2021.
Therefore, an increase in road accidents drives the growth of the barrier system market.
Product innovations are the key trend gaining popularity in the barrier systems market.Major companies operating in the barrier systems market are focusing on innovative products to sustain their position in the market.
For instance, in May 2022, Seton UK, a UK-based manufacturer of workplace safety products, launched EasyExtend, a new modular retractable barrier system.It is a new retractable barrier system with distinct features and advantages for use in industrial and outdoor settings.
It has a larger span than comparable retractable barriers on the market, resulting in more efficient resource utilization.It can be used with ordinary traffic cones or fastened directly to walls or other surfaces using its dedicated post and base system.
The EasyExtend also stores all of the barrier components inside the base, making it perfect for quick and easy assembly in the event of a hazard and storing in stacks with little space.
In July 2021, Perimeter Protection Group (PPG), a Germany-based supplier of vehicle barriers acquired Avon Barrier for an undisclosed amount.Through this acquisition, both companies intend to expand their barrier solutions with the goal of mutually strengthening their offerings to customers globally.
Avon Barriers is a UK-based specialist in security solutions including security barriers, road blockers, security bollards, and sliding automatic gates.
The countries covered in the barrier systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resale along the supply chain, either further along the supply chain or as part of other products.
The barrier systems market research report is one of a series of new reports that provides barrier systems market statistics, including barrier systems industry global market size, regional shares, competitors with barrier systems market share, detailed barrier systems market segments, market trends, and opportunities, and any further data you may need to thrive in the barrier systems industry. This barrier systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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