The new report by Expert Market Research titled, ‘Global Electric Fencing Market Price, Report and Forecast 2023-2028’, gives an in-depth analysis of the global electric fencing market, assessing the market based on its segments like types, applications, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2021): USD 337.06 Million
• Forecast CAGR (2023-2028): 5.5%
• Forecast Market Size (2027): USD 464.17 Million
The rising application of electric fencing in the agricultural sector to prevent the raiding of crops and killing of livestock is driving the market growth. Electric fencing requires lower cost for labour and materials, which is likely to be an invigorating factor in the market.
Moreover, the growing adoption of portable electrical fences by farmers for an effective and convenient gazing control is anticipated to propel the market growth in the forecast period. Meanwhile, the rampant use of electric fencing in the commercial and residential construction areas aimed towards keeping a territory secure from theft and crime, is likely to be a major driving factor in the market. Geographically, North America accounts for significant share in the market owing to the stringent government regulations in Canada and the United States, aimed towards taking care of the demands of the community.
Industry Definition and Major Segments
Electric fencing is constructed around a space to provide a physical and psychological barrier to the outer resources. Electric fencing system is made up of conductive wires and insulators and are energised by a fence controller. Electric fencing can be of two types, portable or permanent. The rate of success of electric fencing is dependent upon a lot of factors among which, careful insulation and removal of stray wires are primary.
On the basis of type, the market can be segmented into:
• Permanent Fence
• Portable Fence
Based on application, the market can be bifurcated into:
• Wild Animals
The regional markets for electric fencing include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
The key trends in the electric fencing market include the technological advancements in the fencing systems, coupled with the rapid digitalisation across the emerging economies. For instance, electrical fencing supported with artificial intelligence notify the presence of intruders or wild animals. Meanwhile, the growing R&D activities by the major market players aimed towards developing electric fences with special designs capable of withstanding and efficiently operating in snowy, frozen, or dry weather conditions are likely to be among the other key trends in the market.
Furthermore, the market will be aided by the increasing investments in the remote operation technology to bolster the fencing system for wildlife purposes.
Key Market Players
The major players in the market are Dare Products Inc, Arthur J. Gallagher and Co., High Tech Pet Products, Inc., Kencove Farm Fence Supplies, and Radio Systems Corporation (Petsafe), among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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