The market for fencing around U.S. residential and commercial properties is projected to grow from $8.8 billion in 2023 to $14.1 billion by 2032, according to a new forecast from DataHorizzon.
The anticipated growth will total a compound annual growth rate of 5.3%. And while new construction is cited as being among the main components behind this growth, the new report also cited concerns over crime as fueling the fencing market.
“A major factor driving the U.S. fencing market is the security and safety of both residential and commercial property,” said the report. “The cases of trespassing, squatters, and burglaries have been steadily rising in the country, which has resulted in a greater number of people investing in building strong security and fencing at their residences. For commercial properties, owing to big heists in commercial and industrial sectors, the organizations are not risking relying solely on alarm clocks and CCTVs for protection. Thus, they are opting to strengthen their physical site security systems through fences around the area, thus driving the demand for the U.S. Fencing market.”
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