Electric Fencing Market Share, Industry Growth, Trends, Business Opportunities, Challenges, Growth Insights to 2027
Electric Fencing Market is
expected to showcase an exponential growth by exhibiting a CAGR of 5.71%
between 2020 and 2027. This growth is attributable to the increasing adoption
of this fencing by the farmers to protect their livestock from wild animals. Additionally,
the adoption of technology by the companies is expected to boost the demand for
these products globally.
Fortune Business Insights, in its
latest report, titled, “Electric Fencing Market Size,
Share & COVID-19 Impact Analysis, By Type (Permanent Fence and Portable
Fence), By Application (Agriculture, Wild Animals, Pets, Security, and Others),
and Regional Forecast, 2020-2027,” mentions that the market
stood at USD 349.6 million in 2019 and is projected to reach USD 438.4 million
by 2027.
COVID-19 Impacts the Global Defense
Budgets
According to the World Bank Forecast,
the global economy is expected to shrink by 5.2% in 2020 that hints at the
deepest recession since World War 2. Owing to the shrinking GDP and a falling
economy as a result of the novel coronavirus, there is a major reduction in the
defense budget across the globe. This is expected to hinder the market to some
extent. However, collective efforts to contain the spread of the disease are
expected to drive the market back to normalcy. Additionally, the growing
concerns over territorial intrusion are driving the nations to upgrade their
defense system that is expected to drive market growth in the near future.
Electric fencing is a type of barrier
that prevents animals and humans to enter the restricted area. These fencings
give a mild electric shock that causes discomfort to the subject and deters him
from entering the prohibited region. Today, electric fences are majorly used
for defense and agricultural purposes. Additionally, they are used for
surveillance in high-security areas such as prisons and military installations.
With the advancement in technology, the manufacturers are focusing on producing
innovative products that include solar-powered electric fencing that is gaining
popularity across the globe.
What does the Report Include?
The market report includes quantitative
and qualitative analysis of several factors such as the key drivers and restraints
that will impact growth. Additionally, the report provides insights into the
regional analysis that covers different regions, which are contributing to the
growth of the market. It includes the competitive landscape that involves the
leading companies and the adoption of strategies by them to introduce new
products, announce partnerships and collaborations that will contribute to the
growth of the market between 2020 and 2027.
Moreover, the research analyst has
adopted several methodologies such as PESTEL and SWOT analysis to extract
information about the current trends and industry developments that will drive
the market growth in the forthcoming years.
COMPETITIVE LANDSCAPE
Major Companies Sign Contracts to
Expand Their Product Portfolios and Boost Sales Revenue
The global electric fence market
comprises of several small, medium, and large companies that are striving to
strengthen their positions and gain a competitive edge over their rivals. They
are signing contracts with the other companies to expand their electric fencing
portfolio and further boost their sales revenue. The other key players are
adopting strategies such as merger and acquisition, partnership, and
collaboration to maintain their presence that is anticipated to contribute to the
market growth in the forthcoming years.
List of the Leading Companies Profiled
in the Global Electric Fencing Market are:
- Dare Products
- Gallagher
- High Tech Pet
- Kencove
- Mpumalanga
- Parker McCrory Mfg Co
- PetSafe
- Premier1Supplies
- Tru-Test Group
- Woodstream
DRIVING FACTORS
Increasing Adoption by Farmers across
Farmlands to Favor Growth
The electric fencing works as a major
deterrent for wild animals to enter the farmlands and destroy the crops and
livestock. Farmers have been suffering huge economic losses owing to the
destruction caused by the wild animals. To curb such wild animal attacks, the
farmers are focusing on installing electric fences to prevent crop and
livestock destruction. For instance, in 2019, the Forest Department in Kerala,
India installed electric fences and dug trenches that run over several
kilometers across the forest borders to prevent the entry of wild animals. The
increasing adoption of fencing products to prevent economic loss by the farmers
is expected to bode well for the growth of the electric fence market during the
forecast period.
SEGMENTATION
Permanent Fence Segment Held the
Largest Market Share
The permanent fence segment, based on
type, held the largest market share and is expected to experience a significant
growth owing to the increasing adoption of the electric type of fencing by the
defense forces to protect the international borders.
REGIONAL INSIGHTS
North America to Remain Dominant;
Increasing Focus on National Security to Aid Growth
Among all the regions, North America is
expected to remain at the forefront and hold the highest position in the global
electric fencing market in the forthcoming years. This is attributable to the
increasing focus on national security that is propelling the defense forces to
install fencing to prevent intrusion. The region stood at USD 166.8 million in
2019.
The electric fencing market in Malaysia
growing with high technological advancements. The market in Europe is
anticipated to showcase a significant growth owing to the increasing demand for
fencing products by homeland security between 2020 and 2027.
Browse a detailed summary of 200 pages
research report with ToC:
https://www.fortunebusinessinsights.com/electric-fence-market-103521
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments – Key Contracts & Agreements,
Mergers, Acquisitions and Partnerships
- Latest technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- Quantitative Insights-Impact of COVID-19 Pandemic on Global
Electric Fencing Market
§
- Impact of COVID-19 Pandemic on Global Electric Fencing Market
- Steps Taken by Industry/Companies/Government to Overcome the
Impact
- Key Development in the industry in Response to COVID-19 Pandemic
- Potential Opportunities due to COVID-19 Outbreak
- Global Electric Fencing Market Analysis, Insights and Forecast,
2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Permanent Fence
- Portable Fence
- Market Analysis, Insights and Forecast – By Application
- Agriculture
- Wild Animals
- Pets
- Security
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia-pacific
- South America
- Middle East & Africa
TOC Continued…!
Key Industry Development
August 2020 – AMAROK announced the launch of FORTIFEYE, the
first-ever integrated electric fencing monitoring system. The technologically
advanced system is designed to deter theft, detain criminals, and detect
suspicious activity.
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Read Press Release:
https://www.fortunebusinessinsights.com/press-release/global-electric-fencing-market-10212
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