North America accounts for the largest share in the global fencing market. The growth of the fencing market in North America is supported by rising investments in R&D for enhanced materials and increasing demand from the remodeling and renovation developments in the region.
The strongest economic growth of the US and Canada, developments in industrial sectors, and the company’s expansions are driving the sales of fencing in North America. PVC fencing is gaining high traction, among other materials, due to the durability and versatility properties. The US is one of the major countries worldwide in PVC production.
However, planned industrial projects have witnessed a slump due to the economic slowdown and the COVID-19 pandemic in 2020. Around 91 projects of manufacturing or production plants, 74 distribution centers or warehousing, 32 new construction projects, 36 plant expansions, and 45 entailed renovations and equipment upgrades were expected in March 2020 in North America.
One of the largest manufacturing constructions is owned by Crown, which is investing around $147 million and has started the construction of a 327,000-sq-ft manufacturing facility in Bowling Green, Kentucky. The company expects the facility to be operational in 2021.
Moreover, considering the planned industrial activities, the fencing market is expected to witness a demand at a fast pace. However, due to the pandemic, industrial activities witnessed a drop. But the industrial sector in North America is expected to recover and regain its market position on a global level. Therefore, with an increased product sale across the region, the demand for fencing is anticipated to be high during the forecast period.
Post time: Nov-18-2021