Future Market Insights
Automotive crash barriers, also referred to as Armco barriers or guardrails, are used to keep vehicles on track and prevent them from colliding with obstacles such as boulder stones, trees, sign supports, walls, buildings and bridge abutments. More recently, local authorities across countries have begun to study technologies to improve the flow of traffic. These technologies include automotive crash barriers which help to prevent vehicles from roadside hazards. Automotive crash barriers are so designed that they absorb the energy from the collision. Automotive crash barriers are also used to prevent vehicles from travelling steep slopes or entering into deep water. Various types of automotive crash barriers are available, the use of which depend upon the function they serve. Some of the automotive crash barriers are installed in between divided highways to prevent the movement of vehicles from one carriageway of traffic to the other and avoid head on collision. Some of these crash barriers are so designed that they can prevent damages when struck from either side -- they are referred to as median barriers. Some other applications of automotive crash barriers include areas like school yards, pedestrian zones, etc.
As the roads are primary mode of transportation in the world, strict and precise road safety regulations are important for any country. Safety of pedestrians and drivers are the major factors that impact the growth of automotive crash barriers market worldwide. Also, road transportation should be the most efficient way of transportation and all safety measures must be taken care of. These factors will be responsible for fueling the growth of global automotive crash barriers market.
Market Trends, Drivers, Restraints
Due to increasing opportunities in emerging economies of the world, the global automotive crash barrier market is expected to grow at a substantial rate. As various developing economies are undergoing major infrastructural projects such as construction of airports, roads, etc., it is expected that the growth in infrastructure will fuel the growth of the global automotive crash barriers market. The high growth being experienced by the global automotive industry will also be one of the key driving factors for the automotive crash barriers market.
Various road safety programs and increasing awareness among consumers regarding road safety measures will have a positive impact on road safety products such as crash barriers, road lights and signs and symbols. Since road accidents are on a rise across the world, majorly in developing and under developed countries, safety rules and regulations are being given more importance now. This will be a key growth factor for players in the automotive crash barriers market. As there is immense competition in the automotive crash barriers market, it has become vital for companies to invest in research and development to develop new cost effective products with new specifications and technology.
With rising number of players, the global automotive crash barrier market is expected to see tough competition in coming years. In addition, the focus of key players has shifted towards providing additional rigidity to the automotive crash barriers so as to maximize safety. This is likely to drive the demand for global automotive crash barriers further.
Mergers and acquisition is one of the key strategies adopted by leading companies in the automotive crash barriers market to increase their market share. As this is a niche market, various other strategies are being adopted by various companies such as strategic expansion of the product offering, new technologies to manufacture crash barriers, etc. This is expected to fuel the growth of the global automotive crash barriers market. The rising demand for flexible automotive crash barriers is also likely to fuel growth into the market.
Though automotive crash barriers are generally used to minimize injury to passengers, injuries do also happen when vehicles collide with crash barriers. The high cost damages that happen due to the collision of vehicles with crash barriers is likely to restrict the growth of the automotive crash barriers market. Also, the high cost of raw materials and interference from highway authorities are some of the other factors that can hamper the growth of the global automotive crash barriers market in future.
The global automotive crash barriers market can be segmented by barrier type, barrier function, barrier technology and device.
On the basis of barrier type, the global automotive crash barriers market is segmented into:
On the basis of Barrier function, the global automotive crash barriers market is segmented into:
On the basis of Barrier technology, the global automotive crash barriers market is segmented into:
On the basis of device, the global automotive crash barriers market is segmented into:
Examples of some of the market participants in the global automotive crash barriers market identified across the value chain include:
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