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Fire Protection System Pipes Market Report 2024 - Fire Protection System Pipes Market Size, Share And Trends
Fire Protection System Pipes Market
According to The Business Research Company's, The fire protection system pipes market size has grown strongly in recent years. It will grow from $15.52 billion in 2023 to $16.43 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to stringent building codes and regulations, increasing urbanization and construction activities, growing awareness of fire safety, increasing investments in infrastructure development, rise in fire incidents and losses.
The fire protection system pipes market size is expected to see strong growth in the next few years. It will grow to $20.96 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to integration with building automation systems, rising demand in the oil and gas industry, strategic partnerships and collaborations, focus on sustainable and eco-friendly solutions,, expansion of the warehousing and logistics sector. Major trends in the forecast period include advanced materials for pipe construction, integration of smart technologies, focus on lightweight and flexible pipes, increased emphasis on retrofitting, adoption of pre-engineered systems.
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Market Drivers and Trends:
The increase in loss of human lives and property due to fire breakouts is expected to significantly drive the fire protection system pipe market going forward. Fire breakouts refer to tragic occurrences that may result in the loss of property and horrifying burn injuries that inflict excruciating agony, scarring, deformity, disability, the need for ongoing care, and even death. Fire protection system pipes are major protectors from fire accidents. This has sprinklers and smoke detectors. If a fire starts, smoke triggers the detector, turning on the sprinkler system, so these factors boost the fire protection system pipe market. For instance, in September 2021, according to a survey conducted by the National Fire Protection Association (NFPA), a US-based non-profit organization, local fire departments in the US responded to 1.35 million fire incidents in 2021. 3,800 civilians lost their lives in these fires, and 14,700 civilian fire injuries were also reported. The estimated cost of the property destruction brought on by these fires was $15.9 billion. Therefore, the increase in loss of human lives and property due to fire breakouts is expected to drive the growth of the fire protection system pipes market going forward.
Technological advancements are a key trend gaining popularity in the fire protection system pipes market. Major companies operating in the fire protection system pipes market are focusing on developing new technologies to sustain their position in the market. For instance, in March 2022, GF Piping Systems Ltd., a Switzerland-based manufacturing company of fire protection system pipes, launched HEAT-FIT. Heat-Fit is the industry's first fire-retardant product for thermoplastic pipe systems. The newly designed HEAT-FIT Jacket System enables thermoplastic pipe systems to be employed onboard cruise liners, commercial vessels, and offshore rigs for critical applications (L3). These applications have particularly stringent safety requirements, including fire resistance. HEAT-FIT is intended to be compatible with GF Piping Systems' ecoFIT product line, which includes a variety of polyethylene fittings and pipes for use in factories as well as water and wastewater treatment. The unique lightweight pipe jacket technology is made up of two layers of TPU. HEAT-FIT has a high-temperature fiberglass fabric between the TPU layers to protect the pipe beneath, along with an intumescent coating that is non-toxic and water-based, making it an environmentally benign material. This graphite char layer expands and forms a protective barrier in the case of a fire. As a consequence, HEAT-FIT can endure temperatures of upwards of 1000°C for 30 minutes at 3 bar of pressure. The system is simple to install and refit, and it has a scratch and repellent covering designed specifically for the needs of the tough marine environment.
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Major Key Players of the Market:
Johnson Controls International plc; Simona AG; Tata Steel Ltd.; China Lesso Group Holdings Ltd.; Astral Limited; Aquatherm LLC; Bull Moose Tube Company; Engineered Fire Piping S.L.; Jakob Eschbach GmbH; Jindal Industries Pvt. Ltd.; Kan-Therm GmbH; Mercedes Textiles Ltd.; Minimax GmbH; Octal Steel; Tpmcsteel; Rawhide Fire Hose LLC; Zekelman Industries; Victaulic; Anvil International LP; Mueller Industries Inc.; The Viking Corporation; Potter Electric Signal Company; Wavin BV; Globe Fire Sprinkler Corporation; Ferguson Fire & Fabrication Inc.; Uponor Corporation; Lubrizol Corporation; Carpenter & Paterson Ltd.; FlexHead Industries Inc.; Metraflex Company
Fire Protection System Pipes Market 2024 Key Insights:
• The fire protection system pipes market will grow to $20.96 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%.
• Rising Incidence Of Fire Breakouts Catalyst For The Surge In Fire Protection System Pipe Market
• Revolutionary Fire-Retardant Solution For Thermoplastic Pipe Systems
• North America was the largest region in the fire protection system pipes market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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