Crash Barrier Systems Market Expected to Reach $11.7 Billion by 2030-Allied Market Research

According to a new report published by Allied Market Research, titled, “Crash Barrier Systems Market by type, technology, and application, Global Opportunity Analysis and Industry Forecast, 2021–2030,” The Global Crash Barrier Systems Market Size was valued at $7,852.4 million in 2020, and is projected to reach $11,791.3 million by 2030, registering a CAGR of 4.2% from 2021 to 2030.

Crash barrier systems which are composed of concrete or metals, provide solid rock protection against accidents and collisions. This implies that if a moving vehicle collides with it, the barrier will absorb a large portion of the impact, delaying or redirecting the vehicle back into the road.

Furthermore, investments in the development of highways, trains, and airports will need the use of safety barrier systems to ensure the safety of cars and pedestrians. Roadways, which comprise roads, highways, and bridges, are predicted to increase demand for crash barrier systems as a means of reducing the incidence of traffic collisions. In addition, increased commercial infrastructure investments would necessitate appropriate crowd management solutions such as entry and exit, vehicle parking places, and pedestrian safety. Such factors are projected to propel the global crash barrier systems market forward.

Asia-pacific has dominated the crash barrier systems market with highest revenue in 2020 and is expected to grow with highest CAGR 5.0%. The region is predicted to grow rapidly in terms of both economic and infrastructure development. In China and India, there has been a lot of investment, particularly in roadways and bridges, with highways being the main focus. For instance, in June 2021, the Indian Ministry of Road Transport and Highways built 2,284 kilometers of national highways. Similarly, The Ministry of Road Transport and Highways built 3,824 km of national highways in September 2021, compared to 3,335 km in August 2021. Such factors are expected to provide lucrative growth in market.

In terms of type, fixed crash barrier systems have dominated the market in terms or revenue in 2020. Fixed crash barriers are barricading systems that are permanently installed and cannot be simply moved. and serve a critical function in keeping vehicles inside the carriageway's borders. Fixed barricades are essential to avoid the collision of vehicles with off road elements such as boulders, slopes, warning signs, drains, trees and more.

Furthermore, many companies are adopting various strategies such as partnerships and acquisitions to strengthen its market position. For instance, in August 2020, Hill & Smith Inc. has partnered with HAAS Alert to provide Smart Work Zone Protection, delivering the most up-to-date roadway safety technology to Work Zones all over the world. Such factor will create lucrative opportunity in market during the forecast period.

However, due to a lockdown imposed in countries such as China, the United States, India, and others due to the coronavirus issue, numerous manufacturers in the global crash barriers systems market had to halt their business production. This disruption has a direct impact on the sales of crash barrier systems. However, it is expected that the reopening of production facilities and the introduction of coronavirus vaccines will lead to the reopening of crash barrier systems firms.

Some of the key players operating in the global crash barrier systems market include Arbus Limited, Avon Barrier Corporation Ltd, Barrier1 Systems, LLC, Hill Smith Holdings PLC, Lindsay Corporation, Nucor Corporation, N.V. Bekaert SA, Transpo Industries, Inc., Trinity Industries, Inc., Valmont Industries, Inc.

Key Findings Of The Study

• The report provides an extensive analysis of the current and emerging crash barrier systems market trends and dynamics. 
• By type, the fixed segment dominated the crash barrier systems market, in terms of revenue in 2020 and is projected to grow at a CAGR of 4.4% during the forecast period.
• By application, the roadside segment registered highest growth in the crash barrier systems market in 2020.
• The Asia-Pacific region is projected to register the highest growth rate in the coming years.
• The report provides an extensive analysis of the crash barrier systems market trends and emerging opportunities of the market. 
• In-depth crash barrier systems market analysis is conducted by constructing estimations for the key segments between 2020 and 2030.
• The key players operating in the crash barrier systems market are profiled in this report, and their strategies are analyzed thoroughly, which help understand the competitive outlook of the crash barrier systems industry.