At What Rate The Global Fire Rated Ducts Market Is Expected To Grow During Forecast Period?

Fire Rated Ducts Market Highlights

The Global Fire Rated Ducts Market is expected to reach $60.1 billion in 2027, to be growing at a CAGR of 7.1% from 2020 to 2027.

Global Fire Rated Ducts Market is projected to grow at a moderate rate during the forecast period, primarily due to the increasing need for fire safety solutions and stringent government regulations. Moreover, the increasing demand from emerging economies is expected to present a growth opportunity for the global fire rated ducts market.

Key Players

The key industry participants in the global market for fire rated ducts are 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), and Promat (Belgium).

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Fire safety solutions are essential in ensuring safety and preventing fatalities and property loss. Over the past few years, there have been several fire-related accidents in residential, commercial, and industrial spaces that have led to several deaths. Hence, it becomes necessary for architects and engineers to install fire safety solutions in residential, commercial, and industrial buildings to avoid such losses. Fire-rated ducts are the fire rated ventilation ducts to avoid fire and thus guard the property against fire hazards. Fire ductwork systems are designed to extract hot gases, smoke, and flame to ensure safety and protect the buildings, property, and individuals. Fire-rated ducts are implemented in factories, public places, public places, malls, and industries. These systems must comply with the fire codes and norms legislated by government or city, state, and federal regulatory authorities. Fire-rated ducts prevent the spread of fire from one area to another. Fire-rated ducts must be tested periodically to ensure better operability during an emergency and protect assets in the premises, limiting the extent of the loss. Thus, the concerns regarding the safety of individuals have contributed to a growing need for fire safety solutions, which is expected to boost the growth of the global fire rated ducts market during the study period.

The global market for a fire rated ducts is segmented based on shape, application, service, material, penetration, and region. By material, the global market has been segmented into steel, aluminum, fiberglass, polymers, others. By shape, the global market has been segmented into round, half round, rectangular, triangular, others. By penetration, the global market has been segmented into wall, decks, floor, and others. By service, the global market has been segmented into core drilling, seals, duct installation, and others. By application, the global market has been segmented into public facilities, commercial facilities, industrial facilities, and others.

Market Research Analysis

In terms of region, the fire-rated ducts market is segmented into Europe, Asia-Pacific, North America, the Middle East Africa, and South America. North America dominates the fire rated ducts market. The growing demand for energy-efficient HVAC systems in the industrial sector and increasing investments in the construction sector are the key factors boosting the growth of the North America fire rated ducts market during the forecast period.

North America is one of the key regions of the world. Furthermore, the rapid growth of the construction industry in the region is also one of the factors driving the installation of fire rated ducts, which is a part of the ventilation system in the residential and commercial infrastructure. As per the US Department of Commerce, the total construction spending in January 2019 was approximately USD 1,307,335 million (includes residential and non-residential). Therefore, fire-rated ducts, being a part of the ventilation system, are expected to witness the increased installation of ventilation systems in residential and commercial buildings for the supply of fresh air and removal of used air. Such factors are expected to drive the fire rated ducts market in North America during the forecast period.

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Scope of the Report

This study provides an overview of the global fire rated ducts market, tracking two market segments across five geographic regions. The report studies the key market players, providing a five-year annual trend analysis that highlights market size, and shares for North America, Europe, Asia-Pacific, the Middle East Africa, and South America. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global fire rated ducts market by material, shape, penetration, service, application, and region.

By Material