Storm Surge Barriers Market Outlook (2023 to 2033)
As per Future Market Insights, the storm surge barriers market is anticipated to attain a value pool of US$ 170 million by 2023-end. Global demand for storm surge barriersis expected to rise at a CAGR of 6% to US$ 300 million in 2033.
Data Points
Key Statistics
Expected Market Value in 2023
US$ 170 million
Projected Market Value in 2033
US$ 300 million
Growth Rate (2023 to 2033)
6% CAGR
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Riding the Storm: Latest Drivers Powering Growth in the Storm Surge Barriers Market
Increasing frequency of severe weather events: With climate change leading to more frequent and severe weather events such as hurricanes, typhoons, and storm surges, the demand for storm surge barriers is expected to increase. Storm surge barriers are an important infrastructure solution that can help protect coastal communities from flooding and storm surges.
Technological advancements in storm surge barrier design: Advances in technology have led to the development of new materials and construction techniques that can improve the effectiveness and durability of storm surge barriers. For example, some storm surge barriers are now being designed with movable gates that can be opened and closed as needed, rather than relying on fixed structures that may be less effective in extreme weather conditions.
Rising sea levels: Sea levels are continuing to rise due to global warming, which is causing coastal flooding and increasing the risk of storm surge damage. Storm surge barriers are becoming an increasingly important solution for protecting coastal areas from rising sea levels and associated flooding.
Building Resilience for a Safer Tomorrow: Latest Opportunities in the Storm Surge Barriers Market
Expansion of infrastructure investment: Many countries are increasing their investment in infrastructure projects, including storm surge barriers, as a way to boost economic growth and improve resilience to extreme weather events.
Adoption of smart technologies: The integration of smart technologies such as sensors, machine learning algorithms, and predictive analytics can enhance the efficiency and effectiveness of storm surge barriers, and reduce maintenance costs.
Growth of the tourism industry: Coastal areas are popular tourist destinations and many of these areas are at risk from storm surges and flooding. As such, the tourism industry provides a significant opportunity for the storm surge barriers market, as protecting these areas can help to ensure the safety of tourists and maintain the attractiveness of the destination.
Advancements in material science and engineering: Innovative materials and engineering techniques can improve the durability and cost-effectiveness of storm surge barriers. For example, the development of modular, prefabricated storm surge barriers can reduce installation times and improve the flexibility of the barrier systems.
Adoption of modular and scalable design: Modular and scalable designs are becoming increasingly popular for storm surge barriers, as they offer greater flexibility and cost-effectiveness compared to traditional fixed barrier systems. Modular designs also allow for easier maintenance and upgrading of the system.
Integration with green infrastructure: The integration of green infrastructure, such as wetlands and mangroves, into storm surge barrier projects is gaining popularity. These natural systems can help to reduce the impact of storm surges and provide additional benefits such as carbon sequestration and biodiversity conservation.
Use of advanced analytics and modelling: The use of advanced analytics and modelling tools such as machine learning algorithms and high-resolution simulations is becoming more prevalent in the design and operation of storm surge barriers. These tools can provide valuable insights into the behavior of the system under different conditions and improve its efficiency and effectiveness.
Emphasis on community engagement and public education: Community engagement and public education initiatives are becoming increasingly important in the storm surge barrier market. Engaging with local communities and stakeholders can help to build trust and support for these projects, and increase awareness of the importance of coastal resilience.
Global demand for flood-control infrastructure will be driven by rising expenses associated with a rise in the frequency and severity of floods.
What is Driving Demand for Storm Surge Barriers?
Storm surges are known to cause severe damage to communities and infrastructure due to the increase in coastal population and increased use of coastal zones. Consequently, the confluence of storm surges and predicted sea-level rise makes coastal areas extremely vulnerable.
For decades, climate scientists have warned about the risk of coastal flooding, but it has only been in recent years that residents living near the water bodies and the governments at large, have realized the perils which coastal flooding pose to the urban landscapes and the associated human and financial losses.
Since then, both municipal administrations and the regional disaster management authorities as a whole, have embarked on immense and expensive efforts to improve their flood and storm surge defense systems.
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How Storm Surge Barriers add Value Over Other Flood Barriers?
Storm surge barriers defend against floods during major weather events, and by using a movable barrier, they can still allow marine trade or natural water movements to pass through. Because they exist in places prone to extreme weather occurrences, storm surge barriers are frequently supplemented by other coastal defense systems. Installing a storm surge barrier can lessen the need to upgrade protections, thus lowering maintenance and construction expenses on its landward side.
Storm surge barriers constitute a robust infrastructure system having significant construction costs, but linked to other flood-prevention measures, they add potential value to protect urban areas from storm surges and flooding caused by the waterways. They provide considerable benefits to enhance the quality of water by their ability to disperse pollutants from repeated opening and closing of its structure.
North America Market Outlook
In USA and Canada, concerns about water quality and the environment in general prompted the government to launch major policies to improve the advancement of extensive water resources strategies that can not only resolve these concerns, but also incorporate other water resources management activities into the development process.
In support of integrated flood control, the federal government provides a large array of data gathering, storage, and dissemination services. The Corps receives the greatest yearly allocation of federal monies to assist integrated flood management for the conduct of its activities on the river, and the majority of this is devoted to lower river project activities for diverse purposes.
The USA government stated in July 2018 that Texas will obtain with over USD 5 billion for a variety of flood management and repair initiatives related to the devastation following hurricane Harvey in August 2017.
Europe Demand Scenario for Storm Surge Barriers
Europe is expected to recover backed by the growing concerns towards climate change and regulatory norms. Environment researchers are worried that rising temperatures will put coastal areas in Northern Europe at risk of floods in the coming years. In Europe, a number of such projects have been completed in the past few years. The application of these flood protection methods is mostly visible in the countries of Netherlands, United Kingdom and Italy.
Trends in usage of flat gates in the barriers, is very common in Netherlands. The barriers have integrated dams and navigation locks which adds to the water retaining systems. Coastal management initiatives by the government, protection of affected areas and measures to combat coastal erosion is taking up shape in the European Union.
In March 2020 budget, USD 6.3 Billion was promised over 5 years to fund flood defenses in the United Kingdom. The money will help build 2,000 new flood and coastal defense schemes. This is expected to in potential profits for businesses to scale up installations of such structures in these areas.
In the United Kingdom, the USD 607 Million Thames River Flood Channel Project and the USD 167 Million Oxford Flood Alleviation Project are anti-flood projects currently in the pipeline. These plans attempt to minimize risk of flooding and safeguard critical infrastructure and neighborhoods along the Thames River.
Who are the Key Manufacturers and Suppliers of Storm Surge Barriers?
Some of the leading manufacturers and suppliers include
The suppliers are engaging in collaborations and partnerships with public agencies, municipal administrations of the city, water bodies associated with building and construction, experts from private organizations and nonprofits, hurricane control authorities and flood mitigation bodies.
This opens up opportunities to identify current scientific understanding of surge barrier ecological implications, gesture recognition of agreement and disagreement, and promoting cooperation among the many involved in the specific subject, such as evidence based knowledge and experience from previous projects.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
