Global Traffic Barriers Market: Introduction
Traffic barriers or guardrails or crash barriers are the components used on the roads for lane demarcation, control of vehicular and personnel traffic as well as reduce the severity of a crash. Transportation is one of the vital parts of human activities and basis of all socioeconomic interactions. Subsequently, the role of effective traffic management is inevitable. Traffic barriers are the components placed at construction sites, highways, event places, public places and among others in order to control rampage, stampede, and accidents. Traffic barriers are also used to minimize vehicle damage in case of incidental interaction. Moreover, traffic barriers in developing and developed countries are mainly utilized to reroute traffic and safeguard pedestrians during construction. Traffic barriers are designed with red color and the white color that can greatly increase the visibility for the driver to prevent accidents. As the world-class infrastructural projects are likely to be flooded in the near future, traffic barriers market is expected to show promising growth.
Global Traffic Barriers Market: Market Dynamics
Traffic barriers market is anticipated to witness strong growth rate in the forthcoming years. Growing infrastructure and investment observed in construction activities are the prominent factors bolstering the demand growth of traffic barriers market. Concrete and steel traffic barriers are mostly preferred on highways that reduce a lot of accidents. Despite, the advantage of concrete traffic barriers over steel traffic barrier is likely to boost the demand for concrete traffic barriers across the globe. Spurring urbanization in the emerging economies of Asia Pacific demands better urban planning. With the growing issues such as safety in public places including airports, hospitals, schools, government and corporate institutions, the demand for traffic barriers is foreseen to observe strong growth. As cities grow, more investment opportunities and effective transportation network create growth opportunities for traffic barriers market. Additionally, increasing vehicle fleet in turn would increase logjams in roads as well as random accidents when driving at uncontrolled speeds. Subsequently, the government will likely to deploy a large number of traffic barriers to prevent crashes and control crowd. Additionally, in cases of riots traffic barriers can be considered as an effective medium to control the traffic whereas the same can be applied at high security bases or priority areas such as (government buildings, airports, etc.) to check any form of unauthorized intrusion.
However, one of the key barriers for the new entrants in the countries with enormous opportunities is competition posed by local low-cost manufacturers. Despite manufacturers and designers are continuously striving to develop more effective and improved design of traffic barrier.
Global Traffic Barriers Market: Market Segmentation
Global traffic barriers market can be segmented on the basis of product type, material, deflection characteristics, and regions
On the basis of product type, global traffic barriers market can be segmented as
On the basis of material, global traffic barriers market can be segmented as
On the basis of deflection characteristics, global traffic barriers market can be segmented as
Global Traffic Barriers Market: Regional Outlook
The role of infrastructure development in Asia Pacific is one of the prominent markets for the utilization of traffic barriers owing to substantial growth in infrastructural projects and urbanization. Every year India witnesses several festival rallies, events and public gatherings that bring up thousands of people. Consequently, to control and facilitate the mobility of vehicles along with people, the need for traffic barriers is crucial. Potential growth opportunities for traffic barriers are expected in the foreseeable future. Furthermore, Thailand, Cambodia, Indonesia, Vietnam, Philippines and among others are the countries stepping ahead to strengthen their traffic system. Unprecedented growth in terms of demand is expected in construction sites of Latin America owing to governmental concerns for the safety of the public. In Western Europe, growing network of road transportation and developments of highways have proliferated the demand for traffic barrier or crash barrier systems. North America is forecasted to witness steady growth rate owing to well-designed road infrastructure.
Global Traffic Barriers Market: Key Participants
Example of some of the market participants in the global traffic barriers market discerned across the value chain include