According to a new report published by Allied Market Research, titled, “Fire Rated Doors Market by Mechanism, Material, and End User: Opportunity Analysis and Industry Forecast, 2020–2027,” the global fire rated doors market size is expected to reach $60.1 billion in 2027 from $42.2 billion in 2019, growing at a CAGR of 6.1% from 2020 to 2027. The metal segment holds major global fire rated doors market share in 2019, and is anticipated to continue this trend throughout the study period.
The global fire-rated doors market is anticipated to grow owing to surge in population and urbanization. In addition, increase in consumer awareness toward fire safety and rise in demand for commercial and non-residential areas are anticipated to cater to the growth of the fire-rated doors market. An increase in stringent building safety regulations by different governments is expected to drive the growth of the market. Moreover, government investment pertaining to the infrastructure development propels the global fire rated doors market growth. Moreover, increase in urbanization and industrialization in countries such as India, China, and others is expected to provide lucrative opportunities for the market. Nevertheless, key players are facing falling price pressure due to rise in competition, this in turn, is expected to hamper the market growth.
Rise in construction activities and increase in demand for robust doors in non-residential spaces fuel the growth of the global fire-rated doors industry. Fire-rated doors are made of materials such as wood, metal, glass, and others. Steel fire doors are robust in nature, superior aesthetic, durable, easily customizable, and provide increased precision. These properties boost the growth of the market. Currently, key players are focusing on introducing durable and efficient fire-rated doors. For instance, Technocrats Security System Private Limited based in India, deals fire-rated doors that are efficient and highly durable. The metal segment accounted for the major share market, owing to the high fire resistance capacity, good aesthetic appearance, and robustness.
The factors such as increase in awareness of building safety and avoidance of property damage in case of fire are expected to boost the growth of the fire rated doors market over the forecast period. Furthermore, rise in spending on commercial and residential buildings with construction development is projected to drive the growth of the market. In addition, stringent government regulations toward building safety boost the growth of the market. Moreover, growth in population and rise in demand for residential and commercial applications armed with stringent building safety regulations are expected to fuel the market growth. Furthermore, increase in demand for conventional door replacement will boost the growth of the fire-rated doors in the residential sectors.
The global fire rated doors market is segmented into mechanism, material, end user, and region. By mechanism, the market is categorized into swinging fire doors, sliding fire doors, folding fire doors, and others. Depending on material, it is segregated into wood, metal, glass, and others. On the basis of end user, it is differentiated into residential, commercial, and industrial.
Key Findings Of The Study
By material type, the metal segment dominated the global fire rated doors market share in 2019.
On the basis of mechanism, the swinging fire door segment is expected to generate high revenue, globally.
Depending on end user, the non-residential segment garnered major share of the fire-rated doors market in 2019.
Region wise, Asia-Pacific dominated the market in 2019.
Asia-Pacific is expected to witness a high growth rate during the forecast period.
The key 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.