Storm Surge Barriers Market Size

Storm Surge Barriers Market size was over USD 2.14 Billion in 2023 and is expected to exceed USD 5.02 Billion by the end of 2036, growing at over 6.8% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of storm surge barriers is evaluated at USD 2.27 Billion. This rise in market revenue is anticipated to be dominated by growth in sea levels. As per the analysis of satellite data of NASA, the average worldwide sea level rose by 0.11 inches (0.27 centimeters) between 2021 and 2022. This rise in sea level is influenced by global warming that further increases the chances of storm surge destruction. Hence, storm surge barriers are gaining importance in recent years further boosting market growth.

Furthermore, there has been a surge in a number of tourists visiting coastal regions. Many of the prominent tourist locations along the coast are vulnerable to flooding and storm surges. As a result, the tourism sector provides a sizable market opportunity for storm surge barriers, as safeguarding these places may contribute to ensuring visitor safety and maintaining the destination’s attractiveness.