Automated Barriers and Bollards Market - Growth, Trends, COVID-19 Impact, And Forecast (2022 - 2027)

Automated Barriers and Bollards Market - Growth, Trends, COVID-19 Impact, And Forecast (2022 - 2027)

The Automated Barriers and Bollards Market is expected to register a CAGR of more than 4% during the forecast period of 2022-2027.

Several developing countries in the Asia Pacific, South America, and the African region are witnessing rapid growth and modernization. There has been a huge development in roadways infrastructure along with the number of toll booth installations every year. There is a gradual rise in the demand for vehicles, and with this, the capacity of toll booths has also increased swiftly. This demand will be fulfilled either by adding new toll lanes or by expanding the throughput of existing lanes. Along with the deployment of new toll lanes, new boom barrier installation will also grow.

Emerging countries like India, China, Uganda, and Cambodia are also making huge investments in roadways development. The fund allocated by the government of India for the Ministry of Road Transport and Highways has seen a 68% increase with USD 24.20 billion set aside for it in the Union Budget 2023. China has been a role model in developing highways and high-speed rail. As of 2021, the length of China's highways exceeded 169,100 kilometers. Subsequently, driving the growth of the automated barriers and bollards market in the forecast period.

For the global automated barriers and bollards market, the North American region is the hub of all technological advancements and developments in the automation field. The adoption of advanced tools & technologies for safety & security purposes has led to growth in the boom barriers and bollards installations by the residential sector and commercial sector.

COVID-19 affected the import and export of construction materials globally. China is one of the largest exporter of construction materials , COVID-19 impact has affected economy of China for both import and export of construction materials. The manufacturers and investors witnessed an excessively receding economic slowdown during the pandemic times. Decrease in consumer demand and consumption have led to the reduction and downtrodden sales of construction materials globally over COVID-19 period. Further to potential price increases, the difficulities to procure materials has inevitably slowed down the overall rate of progress on many construction projects.

Key Market TrendsGrowth in Smart Parking System

The smart parking system is being driven by an increase in parking concerns, and rising demand for Internet of Things (loT) based technology, and a high adoption rate in the number of vehicles. Furthermore, growth in the development of driverless vehicles, as well as government initiatives to build smart cities around the world, are expected to create great opportunities for market growth. The rise of cashless transactions and e-payment options are opening new way for smart parking solution providers to pursue. Furthermore, advancements in artificial intelligence and machine learning are assisting businesses in making game-changing discoveries in the field.

Growth in Infrastructure Projects Development Globally

India is the country with the most infrastructure projects in development or execution valued at over USD 25 million as of May 2022. In contrast to India's 1,944 construction projects, the United States had 1,866 such projects, and China with 1,175.

Asia is the region reporting growth, in both the number and value of projects. FDI inflows to Asia-Pacific remained resilient; the region stood out as an attractive destination for international investments throughout the pandemic. For instance, in India, despite steady GDP deceleration in the last few years, the government attracted significant and steady foreign direct investment (FDI) inflows in the last decade. In the first nine months of 2020-21, India attracted equity FDI of USD 51.4 billion, up 40% compared to USD 36.77 billion during the same period the previous year.

Extreme growth in the number of COVID-19 cases in countries such as China, India, South Korea, and Malaysia negatively impacted the growth of the regional market in 2020 and in early 2021. However, the market is expected to rebound by the end of 2022, as various governments in the region have increased their budget allocation for the coming years. Thus, the regional market is expected to show a positive growth rate during the forecast period.

Competitive Landscape

The Automated Barriers and Bollards Market is a fragmented market, with several large companies strategically forming alliances with mid-sized or small-sized companies to leverage their regional capabilities in the automated barriers and bollards market. Major regional players have been observed to venture into new regions, allowing the companies to improve their geographic reach. New competitors are entering the automated barriers and bollards market with customized and industry-specific services. Some of the major players in the market include Automatic System, Avon Barrier, Macs Automated Bollard Systems Ltd, Houston Systems Private Limited, Magnetic Autocontrol GmbH etc.

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