Crash Barrier Systems Market

The Crash Barrier Systems Market is estimated to achieve a value of USD 9.0 billion by 2030, with a compound annual growth rate (CAGR) of 3.1%. The primary drivers for the crash barrier systems market are the expanding construction and automotive industries worldwide.

Impact of COVID-19 on the Crash Barrier Systems Market

The Global Crash Barrier Systems Market comprises prominent suppliers such as Tata Steel Europe (UK), NV Bekaert S.A. (Belgium), Valmont Industries, Inc. (UK), Trinity Industries Inc (US), and Nucor Corporation (US). These suppliers have manufacturing facilities across Asia Pacific, Europe, North America, and the rest of the world. The COVID-19 pandemic has significantly affected their businesses.

To cope with reduced demand, supply chain challenges, and ensure employee safety, these players have announced the temporary suspension of production in the US, France, Germany, Italy, and Spain during the COVID-19 pandemic. Consequently, the demand for crash barrier systems is expected to decline in 2021. Manufacturers are likely to adjust their production processes to prevent bottlenecks and align production with the demand from tier 1 manufacturers.

Crash Barrier Systems Market Dynamics:

Driver: Growiing construction and automotive industries

The performance of the construction and automotive industries is expected to drive the growth of the crash barrier systems market. The increasing purchasing power of the middle-class population, driven by rising per capita income, has led to a higher number of vehicles and the construction of new roads. Developing countries are experiencing a significant movement of rural populations to urban areas, resulting in increased demand in the construction sector. Among the Asia Pacific (APAC) countries, China is leading in terms of demand for new constructions.

The automotive industry in countries like India, Brazil, South Africa, the US, Canada, Germany, Italy, and Australia is projected to grow at a rate of more than 10% in the next five years, driving the demand for crash barrier products. The growth of commercial real estate and the modification of transport infrastructure globally are also expected to contribute to market growth.

However, there are certain restraints and challenges in the crash barrier systems market. One restraint is the high crash severity that occurs after impact with rigid barriers. Rigid and semi-rigid barriers transmit more energy to vehicle occupants, resulting in greater injuries. The high cost of repairing barrier systems such as concrete blocks, wooden fences, and end treatments acts as a restraint in market growth. To address this, flexible crash barriers with ropes and wires that absorb more energy during impact are being installed by highway authorities, reducing the severity of crashes.

On the other hand, there are opportunities for the crash barrier systems market in emerging regions. APAC, particularly China, India, and Vietnam, is expected to witness a significant number of new constructions and infrastructural activities. Latin American countries like Brazil, Argentina, and Colombia, as well as African countries like South Africa, are also showing signs of development and urbanization, creating opportunities for market growth.

One of the challenges in the crash barrier systems market is the volatility of raw material prices. The market heavily relies on raw materials such as steel and concrete, and fluctuations in their prices can impact production costs and the prices of finished products. The outbreak of COVID-19 has caused fluctuations in steel and zinc prices, further adding to the challenge of volatile raw material prices in the global crash barrier systems market.

Ecosystem Analysis: Crash Barrier Systems Market

Crash Barrier Systems Market  by Ecosystem Analysis

The Crash barrier systems market is projected to register a CAGR of 3.3% during the forecast period, in terms of value.

During the forecast period, the Crash barrier systems market is expected to experience a compound annual growth rate (CAGR) of 3.3% in terms of value. The global market for Crash barrier systems is estimated to be USD 7,625.1 million in 2022 and is projected to reach USD 8,960.3 million by 2030, with a CAGR of 3.3% from 2023 to 2030. This growth can be attributed to the expansion of the construction and automotive industries worldwide.

Crash barriers are designed to withstand the impact of vehicles of specific weights at specific angles and speeds. They aim to redirect the vehicle back onto the road while minimizing damage to both the vehicles and the barriers within acceptable limits. The increasing adoption of roadside barriers is driving the growth of the crash barrier systems market. However, the market also faces challenges related to high crash severity resulting from barrier collisions.

In terms of regional markets, Europe holds the largest share in the Crash barrier systems market. The region's market growth is driven by the willingness of companies to undertake capital-intensive projects and the availability of technical expertise.

The Crash barrier systems market features a diverse and competitive landscape with numerous global players and a few regional and local players. Some of the key players in the market include Tata Steel Europe (UK), NV Bekaert S.A. (Belgium), Valmont Industries, Inc. (UK), Trinity Industries Inc (US), and Nucor Corporation (US).

Market Segmentation

by Type

• Portable
• Fixed

Technology

• Rigid,
• Semi-Rigid
• Flexible

Device

• Crash Cushions,
• End Treatments,
• GEAT

Application

• Roadside,
• Median,
• Work-zone, and
• Bridge

Recent Developments

Valmont Industries, Inc. introduced the HighwayGuard LDS in December 2019, which is a steel safety barrier compliant with MASH 16 TL-3 standards. It features a T-connector that enables faster installation, removal, and separation of barrier sections. This design also allows for the removal of sections within a run to create access gaps, replace damaged sections, or modify barrier configurations.

In March 2019, Nucor Corporation announced its plans to construct a state-of-the-art steel plate mill in Brandenburg, Kentucky. The mill will be situated along the Ohio River, southwest of Louisville, and will require an investment of approximately USD 1.35 billion. With a production capacity of 1.2 million tons per year, the new mill will significantly enhance Nucor's plate product portfolio.

Lindsay Corporation launched ABSORB-M in August 2019, which is a non-redirective, water-filled crash cushion system. This system has been tested to meet the safety standards outlined in the American Association of State Highway and Transportation Officials (AASHTO) Manual for Assessing Safety Hardware (MASH) for Test Level TL-2 and TL-3. ABSORB-M is particularly suitable for narrow areas where there are limitations in road space and workspace.