Storm Surge Barriers Market Size

Storm Surge Barriers Market size is predicted to surpass USD 7 Billion by the end of 2035, growing at a CAGR of 7% during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of storm surge barriers was around USD 2 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.