PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1531111
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1531111
Market Overview
In 2024, the crash barrier systems industry produced revenue of USD 22.4 billion, which is projected to experience a CAGR of 3.7% over the projection period, touching USD 27.8 billion by the end of the decade. This can be credited to the increasing construction and automotive sectors, growing technologies, government safety standards, urbanization, increasing populace, and insurance and responsibility concerns. These systems are needed to reduce the chances of accidents and protect road users and infrastructure.
Currently, countries like India, Brazil, China, Argentina, and some of the Middle Eastern and African countries are experiencing economic growth so the demand for this system is increasing here. The following measures are being practiced by these economies to provide full safety and quality in Road Infrastructure by offering excellent design, construction, and maintenance of road and safety Audits. Such barriers ensure that occupants are protected and the nature of road and highway systems are preserved as well.
With the growth in the population, the construction and automobile industries are fast developing. The mobility of the population in the middle-income bracket has improved due to the increase in per capita income and as a follow up there is increased use of automobiles. The people from the rural areas are now moving into the cities, causing a growth in the construction sector both in developed and developing countries.
Key Insights
Fixed crash barriers will have a 70% market share, used on highways, mountainous roads, and next to water bodies to prevent vehicles from falling off.
Portable crash barriers will see rapid growth, used temporarily during construction or abnormal road conditions, driven by new construction practices and road projects.
Rigid barriers will grow at a 4.0% CAGR from 2024 to 2030, limiting movement during impact, made of steel, concrete, or both.
Semi-rigid barriers include steel W beams and guardrails that break upon collision to protect road users.
Flexible barriers are wire rope safety barriers that flex or break during collisions to absorb impact.
Roadside barriers will dominate with a 40% market share in 2024, made of concrete, steel, cables, or combinations, used on highways, retaining walls, curves, bridges, and buildings to confine vehicles and reduce crash severity.
Europe will have the largest market share at 45% by 2030, driven by advanced buildings and EU initiatives for using cutting-edge materials.
The APAC region is projected to experience strong growth because of large-scale construction in India and China, with India's road network being the second largest at 5.89 million km, roads transporting 64.5% of goods and 90% of passengers, highway construction growing over 15% CAGR from 2016-2021, and 13,298 km of roads built in 2021.