Electric Fencing Market Size Expected to Reach US $ 438.5 Million By 2027; Fortune Business Insights ™ is built on the increasing global adoption of technology
Pune, September 16, 2020 (GLOBE NEWSWIRE) – The global electric fencing market is expected to grow exponentially, with a CAGR of 5.71% between 2020 and 2027. This growth is due to the increased adoption of this fence by U.S. farmers to protect their livestock from wild animals. In addition, the adoption of technology by companies is expected to drive demand for these products worldwide. Fortune Business Insights has the title in its latest report: “Electric Fencing Market Size, Share and COVID-19 Impact Analysis, By Type (Permanent Fence and Portable Fence), By Application (Agriculture, Wildlife, Pets, Security, and Others) and Regional Forecast, 2020-2027” mentions that the market was $ 349.6 million in 2019 and is projected to reach $ 438.4 million by 2027.
COVID-19 is affecting global defense budgets
According to the World Bank’s forecast, the global economy is expected to shrink by 5.2% in 2020, pointing to the deepest recession since World War II. Due to shrinking GDP and a declining economy as a result of the novel coronavirus, there is a significant reduction in the defense budget around the world. This is likely to hamper the market to some extent. However, a concerted effort to contain the spread of the disease is expected to bring the market back to normal. Additionally, growing concerns about territorial encroachment are driving nations to upgrade their defense systems, which should drive market growth in the near future.
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Electric fences are a type of barrier that prevents animals and people from entering the restricted area. These fences cause a slight electric shock, which makes the subject uncomfortable and prevents them from entering the forbidden region. Today, electric fences are mainly used for defense and agricultural purposes. They are also used for surveillance in high security areas such as prisons and military facilities. As technology advances, manufacturers are focusing on making innovative products, including solar powered electric fences, which are becoming increasingly popular around the world.
What does the report contain?
The market report includes quantitative and qualitative analysis of various factors such as: B. the main drivers and restraints that will affect growth. Additionally, the report offers insights into the regional analysis covering different regions that are contributing to the growth of the market. It covers the competitive landscape that the leading companies are involved in and the adoption of new product launch strategies, announcement of partnerships and collaborations that will help the market grow between 2020 and 2027.
In addition, the research analyst has applied various methodologies such as PESTEL and SWOT analysis to extract information on current trends and industry developments that will drive market growth in the years to come.
Large companies sign contracts to expand their product portfolio and increase sales
The global Electric Fencing Market is made up of several small, medium, and large companies striving to strengthen their position and gain a competitive advantage over their competitors. They sign contracts with the other companies to expand their portfolio of electric fences and further increase their sales. The other key players are pursuing strategies such as merger and acquisition, partnership and collaboration to maintain their presence that is expected to add to the market growth in the years to come.
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List of the world’s leading companies with profile Electric fencing market are:
- Dare Products (USA)
- Gallagher (USA)
- High Tech Pet (USA)
- Kencove (USA)
- Mpumalanga (South Africa)
- Parker McCrory Mfg Co (USA)
- PetSafe (USA)
- Premier1Supplies (USA)
- Tru-Test Group (New Zealand)
- Woodstream (USA)
Growing acceptance by farmers in arable land to encourage growth
The electric fence acts as the main deterrent for wild animals invading the farmland and destroying crops and livestock. Farmers have suffered enormous economic losses due to wildlife destruction. To curb such attacks on wildlife, farmers are focusing on installing electric fences to prevent the destruction of crops and livestock. For example, in 2019 the Kerala, India Forestry Department installed electric fences and dug trenches several kilometers across the forest lines to prevent wildlife from entering. The increasing introduction of fence products to prevent economic losses by farmers should be a good sign of the growth of the electric fence market over the forecast period.
The permanent fencing segment held the largest market share
The type-based segment of permanent fences had the largest market share and is expected to see significant growth as the defense forces increasingly use electric fences to protect international borders.
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North America remains dominant; Increasing focus on national security to fuel growth
All regions are expected to keep North America at the top and the highest position in the global electric fencing market in the years to come. This is due to the increasing focus on national security, which is pushing defense forces to install fences to prevent intrusion. The region totaled $ 166.8 million in 2019.
The market for electric fencing in Malaysia is growing with high technological advances. The market in Europe is expected to show significant growth between 2020 and 2027 due to the increasing demand for fence products due to internal security.
Detailed table of contents:
- Research scope
- Market segmentation
- Research methodology
- Definitions and Assumptions
- Market dynamics
- Market leader
- Market restrictions
- Market opportunities
- Important insights
- Major Industry Developments – Major contracts and agreements, mergers, acquisitions, and partnerships
- Latest technological advances
- Porter’s Five Forces Analysis
- Supply chain analysis
- Quantitative Insights – Impact of the COVID-19 Pandemic on the Global Electric Fencing Market
- Impact of the COVID-19 Pandemic on the Global Electric Fencing Market
- Steps by industry / business / government to overcome the impact
- Key industry development in response to the COVID-19 pandemic
- Potential opportunities due to the COVID-19 outbreak
- Global Electric Fencing Market Analysis, Insights and Forecast, 2016-2027
- Main results / summary
- Market analysis, insights and forecasts – by type
- Permanent fence
- Portable fence
- Market analysis, insights and forecasts – by application
- Wild animals
- Market analysis, insights and forecasts – by region
- North America
- Asia Pacific
- South America
- Middle East and Africa
Table of contents continued…!
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Key development in the industry
August 2020 – AMAROK announced the launch of FORTIFEYE, the first integrated monitoring system for electric fences. The technologically advanced system is designed to prevent theft, detain criminals and detect suspicious activity.
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