CLEVELAND, Sept. 2, 2020 /PRNewswire/ — The US fencing market is seeing a sharp contraction during the COVID-19 pandemic as construction activity is expected to remain at below average levels until 2021. However, demand will quickly recover through 2024 as the pandemic recedes, economies reopen, and construction activity renormalizes.
Four new Freedonia Group studies – Chain Link Fencing, Plastic Fencing, Wood Fencing, and Residential Fencing – provide deep-dive analysis of important trends that will affect these market segments through the pandemic and beyond.
Residential Market Provides Bright Spot for Fencing Suppliers Amid Pandemic
Near-term weakness in construction activity due to the pandemic – particularly in the commercial segment – will continue to be offset somewhat by the ongoing surge home renovation activity, especially DIY projects:
- Hardware and home improvement stores – key retailers of fencing for the residential market – are considered “essential” and remain open for business.
- Consumers – who have spent more time at home due to stay-at-home orders, restaurant and other business closures, and general concerns about being out in public – have increased spending on DIY home improvement projects.
- Homeowners are more likely to pay for exterior upgrades – such as fence installations – that require no or minimal face-to-face interaction with contractors.
Early in the pandemic, elevated demand for building materials met short supply, leading to delayed orders, consumer frustration, and missed sales opportunities. This drove major retailers including Home Depot to invest significantly in expanding distribution capacity to get building materials such as fencing to customers faster.
Looking for More?
Chain Link Fencing, Plastic Fencing, Wood Fencing, and Residential Fencing are now available from The Freedonia Group.
About The Freedonia Group – The Freedonia Group, a division of MarketResearch.com, is a leading international industrial research company publishing more than 100 studies annually. Since 1985 we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Each study includes product and market analyses and forecasts, in-depth discussions of important industry trends, and market share information. Studies can be purchased at www.freedoniagroup.com and are also available on www.marketresearch.com and www.profound.com.
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SOURCE The Freedonia Group
