Market Research Future says that the Outdoor Noise Barriers Market revenue is increased to USD 822 Million. Such a significant growth is likely to take place at a 4.2% CAGR during the forecast period 2019 to 2025. The study has claimed that the escalating adoption rate of precast concrete outdoor sound barrier panels owing to the cost-effectiveness is probably to create opportunities for the manufacturers.
Market Key Trends & Challenges
The experts from MRFR reveal that the market for outdoor sound barriers is reflecting a steady growth as a necessity to ease traffic noise is high on its potentials. The future of sound barriers is bright as it is one of the prime factors contributing to the market’s growth.
The deep integration construction of residential and commercial buildings near highways has significantly increased the level of worth of the necessity. In no time, it has prompted a fast adoption of outdoor sound barriers products to enhance the quality of life in the surrounding. Such a factor is also considering as a pivotal factor motivating the market to expand wisely during the growth period.
At the same time, the rise in construction activities and industrialization, mainly in emerging economies across the globe, has also been considered the market’s growth over time. Besides, governments are also actively focusing on introducing diverse regulations to improve their infrastructure industry that has led to the expansion of the overall construction industry. The result is that this factor would be driving the demand for outdoor noise barriers market.
According to MRFR’s study, the global outdoor sound barriers market has been segmented by material and application.
In terms of material: Concrete, metal, wood, and others are the segments. Among these, the concrete segment occupied the largest market share in 2018 and is now probable to witness the highest CAGR during the anticipated period. The reason behind this is that concrete material is primarily used in the roads and highways for walls and panels and has good sound-absorbing qualities. Besides, they are the cheapest as compared to the other materials.
In terms of application: Highways, aviation, demolition, utilities & railroad, and building construction are the segments. Among these, the segment of the highway occupied the largest market share for the outdoor sound barrier panel installations at a global level. The departments of transportation (DOTs) commonly install sound barriers in highways and roads to diminish traffic noise. Moreover, once it is installed, these outdoor sound barriers walls rarely require replacement and repair. It is one of the significant advantages over asphalt paving material products, which are not only expensive but also necessitate proper maintenance in a span of one year.
The global outdoor sound barrier market is also being studied among the key regions of Europe, Asia-Pacific, North America, and the Rest of the world (RoW).
Among these, the region of North America occupied the largest market share in the global outdoor sound barrier market in 2018. Now it is probable to continue its leadership until 2025. It is the presence of leading manufacturers such as Coastal Precast Systems, Armtec Infrastructure, Amco Block & Precast, and Cretex Companies who are tremendously driving the growth of the highway noise barriers market in North America.
Besides, the Asia-Pacific region is also anticipated to observe the fastest growth rate during the forecast period. The growth is attributed to the swift industrialization and urbanization going on in China, India, and emerging economies are anticipated to contribute significantly to the growth of the market. With this, the growth of the construction industry in the region is also helping to boost the demand for outdoor sound barriers in the region of Asia-Pacific in the forecasted period.
Key Market Players
The significant players in the outdoor sound barriers industry are listed as Armtec Infrastructure (Canada), ZAK Acoustic Pvt Ltd (India), Fort miller group (US), Amcon Block & Precast (US), Dynamic Precast Company (US), Evonik Industries (Germany), Coastal Precast Systems (US), Cretex Companies (US), AcoustiGaurd (Canada), Hoover Treated Wood Products (US).