Fire Rated Ducts Market to rise at CAGR of 7.1% through 2027 – Report by Market Research Future (MRFR)
New York, July 23, 2021 (GLOBE NEWSWIRE) — Fire Rated Ducts Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Fire Rated Ducts Market Research Report, by Material, Shape, Penetration, Service, Application and Region – Forecast till 2027” the market to grow at a rate of 7.1% during the forecast period 2020-2027.
COVID-19 Analysis
Several industries have been affected by the COVID-19 crisis and the global fire rated ducts market too is no different. It has also experienced the brunt of the deadly outbreak. Economic consequences, supply chain disruptions, fluctuations in demand share, and long-term & immediate impact of the COVID-19 crisis had a negative effect on the market growth. Although initially it had a substantial impact on the market growth owing to the outbreak but with the gradual rise in construction industry and industrial activities, fire duct manufacturers are likely to experience sustained opportunities in the future.
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Key Players
Eminent players profiled in the global fire rated ducts industry report include-
- Lindab AB (Sweden)
- Unifrax LLC (US)
- Durasystems (Canada)
- Leminar Air Conditioning Industries LLC (UAE)
- Arcat Inc (US)
- Firetrace Ductwork Ltd (UK)
- Firth Sheet Metal (UK)
- CMS Group of Companies (UAE)
- Promat (Belgium).
The global intelligent road system market is fragmented and also competitive for the presence of different international & domestic key players. These players have incorporated innovative strategies to remain at the vanguard and also suffice the burgeoning demand of the customers, including collaborations, contracts, partnerships, joint ventures, geographic expansions, & new product launches, & more.
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Fire Rated Ducts Market Drivers/Fire Rated Ducts Market Trends
Government Imposed Regulations to Boost Market Growth
The implementation of regulations imposed by the government about the installation of fire safety ducts in all industrial buildings will boost the fire rated ducts market growth.
Opportunities
Growing Awareness about Fire Safety to Offer Robust Opportunities
Rising awareness about fire safety and the increasing use of fire rated ducts in commercial and industrial buildings will offer robust opportunities for the market in the forecast period. The need for protecting infrastructure and increasing number of human lives lost has encouraged businesses in constructing and maintaining fire-rated ducts on their premises. Thus it has become necessary for engineers and architects in installing fire safety solutions in industrial, commercial, and residential buildings, to avoid such losses. Fire-rated ducts are basically fire rated ventilation ducts to prevent fire and thus protect the property against fire hazards.
Market Segmentation
The fire rated ducts market is segmented based on services, penetration, shape, application and material.
- By Material
By material, the global fire rated ducts market is segmented into polymers, fiberglass, aluminium, and others.
- By Shape
By shape, the global fire rated ducts market is segmented into triangular, rectangular, half-round, round, and others.
- By Penetration
By penetration, the global fire rated ducts market is segmented into floor, decks, wall, and others.
- By Service
By service, the global fire rated ducts market is segmented into duct installation, seals, core drilling, and others.
- By Application
By application, the global rated ducts market is segmented into industrial facilities, commercial facilities, public facilities, and others.
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Regional Analysis
North America to Precede Fire Rated Ducts Market
North America will precede the fire rated ducts market over the forecast period. The growing need for energy-efficient HVAC systems in the industrial sector, the increasing investments in the construction sector, the rapid growth of the construction industry, the growing adoption in the US, exponential growth in infrastructure and material innovations by manufacturers, growing commercial facilities like institutional building and data centers in the US and Canada, growing investments in the construction industry in the US, increasing installation of the fire ventilation ducts in buildings, and manufacturers trying to develop energy efficient HVAC ducting for buildings that is increasing the production of fire rated ducts in US, are adding to the global fire rated ducts market share in the region. Owing to the pandemic, the need of fire rated ducts may remain muted for the next few years as the construction industry is slowly regaining mobility in the market.
Europe to Have Admirable Growth in Fire Rated Ducts Market
Europe will have an admirable growth in the market over the forecast period. The healthcare domain is expected to be a key benefactor from the fire rated ducts installation for ensuring apex safety standards. The fire standards in Europe have made it mandatory for buildings for installations for completing ductwork which offers fire resistance by compartment wall or floor for stopping the fire from spreading. Most countries in Europe have their respective fire regulations yet rise in safety standards for buildings has boosted the need for fire duct in the European market. It is essential for fire duct manufacturers and suppliers to get third-party product certificate and also independent quality-assurance certificated on their fire ducts as it is crucial that the ducts require being of permitted size and must not leak. All these are adding to the global fire rated ducts market value in the region.
Segmentation of Market covered in the research:
Information by Material (Steel, Aluminum, Fiberglass, Polymers and others), Shape (Round, Half Round, Rectangular, Triangular and Others), Penetration (Wall, Decks, Floor and Others), Service (Core Drilling, Seals, Duct Installation and Others), Application (Public Facilities, Commercial Facilities, Industrial Facilities and Others) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America)
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Fire Rated Ducts
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