Crash Barrier Systems Market Size

Crash Barrier Systems Market size is projected to surpass USD 13,263 million by the end of 2033, growing at a CAGR of 4% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of crash barrier systems was USD 8,493 million. The growth of the market can primarily be attributed to infrastructure development such as roads, highways, and bridges, along with the rising need for crash barrier systems to avoid road disasters. According to the India Brand Equity Foundation (IBEF), in 2021, 5,835 km of the highway was constructed across India. Highway safety can be improved with the use of crash barriers. The accident risk on the highways is caused by the high speed of vehicles and no crash barriers in the areas of accident-prone zones. Many accidents can be reduced by the use of crash barriers as they help to slow down the vehicles in the crash zone. Crash barriers in the middle and sides of the roads on highways can prevent accidents and promote the safety of vehicles. Additionally, crash barriers give positive results by preventing vehicles from crossing over into the main road vehicles which is highly risky.

Crash barriers are considered to be proof against the impact of vehicles of certain weights at a disquieted angle while traveling at a certain speed. The increasing movement of rural populations to urban areas in developing countries has risen the demand for safety systems in overpopulated cities. It is estimated that by the end of 2050, India will have more than 400 million urban dwellers, while China will have over 250, and Nigeria with about 190 million urban dwellers. The increasing number of people migrating from the villages to cities for jobs, education, and business increase the population of urban cities, causing heavy traffic on roads. The increasing urban population leads to more automobile purchases, followed by increasing disposable income. As the number of personal vehicles on the road increases, so do the chances of accidents and the need for crash barriers to control them. The growing prevalence of road accidents has increased awareness about road safety, which leads to market growth. Furthermore, the adoption of barrier systems across the globe has massively increased, which is projected to accelerate the global industry, in the coming years.