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Fire Door Market to Cross $16.7 Bn by 2024 says new report
Fire Door Market
Fire Door Market size is estimated to exceed USD 16.7 billion by 2024; according to a new research report by Global Market Insights, Inc. Strong construction output with increasing spending on safety equipment in both commercial as well as residential sector will drive the fire door market growth. Focus on fire safety and prevention from flame spreading in numerous industries has enhanced product demand. Rising casualty rate, property damage and public safety concerns during fire accident will propel industry growth. Increasing consumer safety consciousness along with improved standard of living are the key factors supporting product demand. Extensive R&D along with emergence of flush glazed and double action products will open new opportunities for the business growth.
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Flush glazed variants continue to witness significant growth due to rising demand for natural light, ventilation, condensation, noise prevention, well insulated construction, reduced heating & cooling costs and safety & security needs.
Steel, glass and aluminum as per standards with superior resistance from FD 30 to FD 180 are primary raw materials. Steel is among the major revenue contributor, with generating over USD 4.2 billion in 2016. As per insulated steel door institute, advancement in weather strip system along with improvement in insulating technologies will drive product demand.
Stringent government regulations and policies by associations including NFPA on building safety codes and fire protection system will fuel industry growth. However, high maintenance & installation cost along with lack of integrity in system are the key factors restraining industry growth. MEA is anticipated to worth more than USD 600 million by 2024. Saudi Arabia will remain dominating followed by UAE in the forecast period. Growing government focus on infrastructure development to enhance tourism accompanied by stringent regulations for safety will propel the industry growth.
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Asia Pacific fire door market share accounted for more than 28% in 2016. Growing population, rapid urbanization along with increasing investment on infrastructure development will support the regional demand. Government compliance including subsidies and safety awareness programs are the major factors stimulating the industry demand.
Europe fire door market is estimated to witness CAGR exceeding 6% up to 2024. High adoption of advanced technology along with increasing construction spending on commercial buildings are the driving factors for the product scope. Increasing safety concerns among consumers along with regulatory compliance will drive the regional demand.
Fire door market share is competitive with major players including Agta Record, Assa Abloy, Essex Ford Joinery, Mesker, Howden Joinery, Nihon Funen, Kingdom, Wanjia, Saintgeneral, Jia Hui, Wanjia, Simto, Zhucheng and Simto.
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com
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