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New Zealand Fire Door Market (2023-2029) | 6Wresearch

03-13-2024 11:01 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: 6wresearch

New Zealand Fire Door Market Synopsis
New Zealand Fire Door market has experienced notable growth in recent years, primarily driven by the demand from major commercial and infrastructural projects such as Commercial Bay and The Pacifica. However, during the Covid-19 pandemic, the demand for fire doors in New Zealand experienced a decline, mainly due to government-imposed lockdowns and the closure of offices and malls to curb the spread of Covid-19, resulting in low demand of fire doors in the commercial sector and an increase in office vacancy rate within Auckland's metropolitan area to 6.3% in the second half of 2020, up from 5.6% during the same period the previous year. Nevertheless, in 2021, the fire door market in New Zealand bounced back owing to the increased demand for new commercial and retail space across the country. As a result, the Central Business District vacancy rate in Christchurch dropped to 5.4% in December 2021 from 10.6%, and the increased demand for commercial and retail projects across New Zealand is expected to further propel the fire door market in the forecast period.

According to 6Wresearch, the revenue of the New Zealand Fire Door Market is projected to grow at a CAGR of 3.7% during 2023-2029. The market is expected to witness growth in the coming years owing to increased investment in infrastructure and the transition to multi-unit housing. For instance, as of June 2023, the National Infrastructure Pipeline comprises infrastructure projects valued at 92.15 billion USD, including projects in various stages, with 6.8 billion USD in procurement, 42.3 billion USD under construction, and 42.8 billion USD in planning. Moreover, the growing approval of building consents for multi-unit housing throughout New Zealand is contributing to this trend. In Auckland, the issuance of building consents for multi-housing witnessed a significant 73% increase in 2022, contrasting with a 21% increase in 2012. Therefore, the demand for fire doors in infrastructural and multi-residential projects is expected to strengthen the market in the forecast period.

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Market Segmentation by Mode of Application
New construction holds a significant share of revenue in the New Zealand market owing to the increasing investments in real estate and infrastructure projects. Additionally, in 2023, there are more than 1.8 billion USD worth of retail and industrial projects in the construction stage. Also, industrial projects worth 6.3 billion USD are in design & documentation stage which is expected to significantly boost the demand of fire door in new construction.

Key Highlights of the Report
New Zealand Fire Door Market Overview
New Zealand Fire Door Market Outlook
New Zealand Fire Door Market Forecast
Historical Data and Forecast of New Zealand Fire Door Market Revenues for the Period 2019-2029F
Historical Data and Forecast of New Zealand Fire Door Market Revenues, By Mechanism Type, for the Period 2019-2029F
Historical Data and Forecast of New Zealand Fire Door Market Revenues, By Product Type, for the Period 2019-2029F
Historical Data and Forecast of New Zealand Fire Door Market Revenues, By Application, for the Period 2019-2029F
Historical Data and Forecast of New Zealand Fire Door Market Revenues, By Mode of Application, for the Period 2019-2029F
Market Drivers and Restraints
Industry Life Cycle
Porter's Five Force Analysis
Market Trends
Competitive Benchmarking
Company Profiles
Key Strategic Recommendations

6Wresearch is the premier, one-stop market intelligence and advisory center, known for its best-in-class business research and consulting activity. We provide industry research reports and consulting services across different industries and geographies which provide industry players an in-depth coverage and help them in decision-making before investing or entering into a particular geography.

Contact Us: Phone: +911143024305 | Email Id: sales@6wresearch.com

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