Global Fire Rated Doors Market Set to Reach $60.1 Billion by 2027: Fortifying Safety
Fire-rated Doors Market: Global Opportunity Analysis and Industry Forecast, 2020-2027
WILMINGTON, DELAWARE, UNITED STATES, November 20, 2023 /EINPresswire.com/ -- In a recent report titled "Fire Rated Doors Market by Mechanism, Material, and End-user: Opportunity Analysis and Industry Forecast, 2020–2027," Allied Market Research forecasts robust growth for the global fire-rated doors market. The market is poised to surge to $60.1 billion by 2027, up from $42.2 billion in 2019, boasting a compelling CAGR of 6.1% from 2020 to 2027. The metal segment secured a significant share in 2019 and is projected to maintain this dominance throughout the study period.
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Driving Forces and Market Dynamics: The fire-rated doors market has experienced substantial growth in the last decade, driven by heightened concerns for building safety and stringent regulations on fire protection systems. Many emerging countries now mandate the installation of fire doors in commercial and public buildings, fostering a global demand for fire-rated doors. Moreover, stringent building safety regulations in developed nations are expected to propel market growth during the forecast period.
The global fire-rated doors market is on an upward trajectory, fueled by factors such as population growth, urbanization, increased consumer awareness of fire safety, and a surge in demand for commercial and non-residential spaces. Stringent building safety regulations imposed by governments worldwide are significant contributors to the market's growth. Government investments in infrastructure development further boost the global fire-rated doors market, with countries like India and China presenting lucrative opportunities due to rapid urbanization and industrialization.
However, key players are grappling with the downward pressure on prices due to heightened competition, which may impede market growth.
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Construction Boom and Material Dynamics: The rise in construction activities, coupled with the demand for sturdy doors in non-residential spaces, propels the growth of the global fire-rated doors industry. Fire-rated doors are crafted from materials such as wood, metal, glass, and others. Steel fire doors, renowned for their robustness, superior aesthetics, durability, and customization options, are driving market growth. Key players, including Technocrats Security System Private Limited in India, are focusing on introducing durable and efficient fire-rated doors.
Impact of COVID-19: The novel coronavirus pandemic disrupted operations for many manufacturers in the global fire-rated doors market due to lockdowns worldwide. The halt in manufacturing processes, shortage of manpower and raw materials, and disrupted supply chains affected the market's sales. However, a surge in demand for automatic fire-rated doors, reducing contact with surfaces, has provided a short-term boost. The slow recovery is expected to extend from 2020 to 2027.
As the pandemic subsides, fire-rated door manufacturers must rapidly scale up production to counterbalance lost time and fulfill dwindled orders. Collaborative efforts and leveraging individual strengths through partnerships will be crucial to expedite recovery.
Segmentation Insights:
Mechanism: Swinging fire doors are anticipated to lead in revenue generation globally.
Material: The metal segment dominated the global fire-rated doors market share in 2019.
EndUser: The non-residential segment captured a major market share in 2019.
Region: Asia-Pacific dominated the market in 2019, with expectations of high growth during the forecast period.
Key Players: Market players profiled in the report include Agta Record Ltd, ASSA ABLOY Group, GEZE GmbH, Godrej & Boyce Manufacturing Company Limited, Griffon Corporation Inc., JELD-WEN Holding, Inc, Lindner Group KG, MANUSA GEST, S.L., Nabtesco Corporation, and Sanwa Holdings Corporation.
The global fire-rated doors market stands at the intersection of safety, construction trends, and regulatory dynamics, poised for sustained growth and innovation in the coming years.
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David Correa
Allied Market Research
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