Global Fire-Rated Doors Market Size is Estimated to Reach USD 73.50 billion by 2031, Growing at a CAGR of 5.5%: Straits Research
The North American fire-rated doors market is expected to grow at a 5.9% CAGR (2023-2031) due to rising demand for automatic fire-rated doors in U.S. commercial projects, driven by a focus on enhanced building safety. Homeowners’ increased spending on renovations and discretionary home improvement projects, along with the adoption of innovative technologies in fire doors, contributes to market growth.
New York, United States, Jan. 25, 2024 (GLOBE NEWSWIRE) — A fire door with a fire-resistance rating is used as a passive fire protection system to reduce the spread of smoke and fire between different compartments of a structure or building while also allowing safe egress. Some of these doors are held open by electromagnets connected to an alarm system. In contrast, others are designed to remain open in normal conditions and close automatically in the event of a fire. The fire-rated doors are fire-resistant for 20 minutes to 3 hours, depending on the material used. Fire-rated doors are used to keep fires from spreading on the premises of property or buildings.
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An increase in Consumer spending on Home Remodelling Drives Market Growth.
According to Straits Research, “The global fire-rated doors market revenue was valued at USD 45.40 billion in 2022 and is projected to reach USD 73.50 billion by 2031, with a CAGR of 5.5 % during the forecast period (2023–2031).” Increased interior design investment is one factor propelling the doors market. Homeowners, office owners, and business owners hire interior designers to plan, design, and oversee the construction of their interiors. They have renovated their homes and offices according to their functional requirements, aesthetic preferences, and budgets. In addition, the increase in global consumer spending on home improvement has contributed to market growth in recent years. In 2018, the annual increase in homeowner remodeling expenditures exceeded 7 percent. Consequently, an increase in expenditure on home remodeling, with a clear emphasis on door replacements, is anticipated to contribute to market expansion.
Technological Advancements to Ensure Safety & Security Provides Lucrative Growth Opportunities for the Market.
Safety and security are the major concerns in the residential and commercial sectors, which has increased the deployment of systems such as voice-activated devices, video intercom systems, and smart outlets in homes. This factor is a substantial contributor to the growth of the automatic door market. In addition, intense competition has been witnessed between start-ups and large corporations, owing to the profitability of automatic door systems. Furthermore, an increase in the installation of smart home systems for safety & security enhances the house’s visual appeal, thereby creating value for residential end users. This factor is expected to continue to provide profitable business opportunities to the market players during the forecast period.
Based on geography, Global Fire-Rated Doors Market has been segmented into North America, Europe, Asia Pacific, and LAMEA.
The North American fire-rated doors market is examined across the United States, Canada, and Mexico. From 2023 to 2031, the fire-rated doors market in North America is expected to grow at a 5.9% CAGR. Increased demand for automatic fire-rated doors in commercial improvement and repair is expected to drive market growth in the United States. Furthermore, improved building safety and security are expected to drive market growth in the United States.
The Europe doors market examines major countries such as the United Kingdom, Germany, France, and other European nations. Europe is the largest market for fire-rated doors, with growth expected throughout the forecast period. From 2023 to 2031, the European market for fire-rated doors is expected to grow at a 5.7% CAGR. In 2021, Germany held the lion’s share of this market.
- The Global Fire-Rated Doors Market is segmented based on Type and Distribution channel.
- The market is segmented by Material into wood, glass, metal, and others.
- The market is segmented by Mechanism into swinging, sliding, hinged, and others.
- The market is segmented by End-user into residential and non-residential.
- Based on Geography, the market has been segmented into North America, Europe, Asia Pacific, and LAMEA.
Prominent global and regional companies engaged in the Global Fire-Rated Doors Market are
- Agta record ltd.
- American Automatic Doors, Inc.
- ASSA ABLOY Group
- Dormakaba Holding AG
- FAAC S.p.A. Soc Unipersonale
- GEZE GmbH
- Gilgen Door Systems AG
- Godrej Security Solutions
- GRAUTHOFF Türgruppe GmbH
- Griffon Corporation Inc.
- Gretsch–Unitas GmbH
- Horton Automatics
- Jansen Holding GmbH
- JELD-WEN Holding, Inc.
- KONE Corporation
- LABEL S.p.a.
- Lindner Group KG
- MANUSA GEST
- Nabtesco Corporation
- Neuform-Türwerk Hans Glock GmbH & Co.KG
- Royal Boon Edam International B.V.
- ReinaerdtTür GmbH
- Sanwa Holdings Corporation
- SchörghuberSpezialtüren KG
- STANLEY Access Technologies LLC
- In January 2020, ASSA ABLOY, in partnership with Vetrotech, developed its series of offerings to the E119 Fire Resistive products. The new products offered are the interior curtain wall and the flexible full glass narrow stile door, which are expected to join the E119 family amongst the industry’s highest fire-resistive framing systems and specialty doors.
- In November 2019, ASSA ABLOY signed an agreement for the acquisition of AM Group. AM Group is based in Australia and is a global provider of industrial doors with entrance automation. The acquisition has enhanced ASSA ALOY’s product portfolio for industrial door systems.
Global Fire-Rated Doors Market Segmentation
- Swinging Fire Doors
- Sliding Fire Doors
- Folding Doors
By End User
- North America
- Middle East and Africa
Get Detailed Market Segmentation @ https://straitsresearch.com/report/fire-rated-doors-market/segmentation
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