The Global Fire Rated Ducts Market is expected growing at a CAGR of 7.1% from 2022 to 2030
The global fire rated ducts market is expected to reach $60.1 billion in 2030 from $42.2 billion in 2021. The global market is expected to be growing at a CAGR of 7.1% from 2022 to 2030. The metal segment holds significant global fire-rated ducts market share in 2021 and is anticipated to continue this trend throughout the study period that ends in 2030.
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. Furthermore, the need for protecting infrastructure and the increasing number of human lives lost has encouraged businesses to construct and maintain fire-rated ducts on their premises. Thus, engineers and architects have become necessary to install fire safety solutions in industrial, commercial, and residential buildings to avoid such losses. Fire-rated ducts are fire rated ventilation ducts to prevent fire and thus protect the property against fire hazards.
Several industries have been affected by the COVID-19 crisis, and the global fire rated ducts market is no different. Economic consequences, supply chain disruptions, fluctuations in demand share, and long-term & immediate impact of the COVID-19 crisis harmed the market growth. Although initially, it had a substantial impact on the market growth due to the outbreak, with the gradual rise in the construction industry and industrial activities, fire duct manufacturers are likely to experience sustained opportunities.
The novel coronavirus epidemic has forced numerous manufacturers in the global fire rated ducts market to avert their business processes due to the lockdown imposed by governments worldwide to reduce the exponential spread of the deadly virus. Besides, there is a stoppage in the manufacture of fire rated ducts owing to a shortage of manpower and raw materials. However, the demand for automatic fire rated ducts has risen in the near term to make sure less contact is being made with solid objects in residences & business spaces. Thus, a halt in construction activities and lockdowns for quite a few months have disturbed the global fire rated ducts market, with a slow recovery is projected during 2022-2030.
The global fire-rated ducts market is anticipated to grow owing to the surge in population and urbanization. In addition, an increase in consumer awareness of fire safety and a rise in demand for commercial and non-residential areas are anticipated to cater to the growth of the fire-rated ducts market. Furthermore, an increase in stringent building safety regulations by different governments is expected to drive the growth of the fire-rated ducts market. Moreover, government investment in infrastructure development propels the global fire-rated ducts market growth. Moreover, the increase in urbanization and industrialization in countries such as India, China, and others is expected to provide lucrative opportunities for the fire-rated ducts market.
Nevertheless, key players face falling price pressure due to a rise in competition, which is expected to hamper market growth.
The rise in construction activities and increase in demand for robust ducts in non-residential spaces fuel the growth of the global fire-rated ducts industry. Fire-rated ducts are made of wood, metal, glass, and others. Steel fire ducts are robust, superior aesthetic, durable, easily customizable, and increased precision. For instance, Technocrats Security System Private Limited, based in India, deals with fire rated ducts that are efficient and highly durable. The metal segment accounted for a significant share market, owing to the high fire resistance capacity, good aesthetic appearance, and robustness.
The global fire-rated ducts market is segmented into the mechanism, material, end-user, and region. By mechanism, the market is segmented into swinging fire ducts, sliding fire ducts, folding fire ducts, and others. Next, it is segregated into wood, metal, glass, and others, depending on the material. Finally, it is differentiated into residential, commercial, and industrial based on end-user.
The swinging fire ducts segment is expected to generate high revenue globally based on the mechanism.
Depending on the end-user, the non-residential segment garnered a significant share of the fire-rated ducts market in 2021.
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 U.S., exponential growth in infrastructure and material innovations by manufacturers, growing commercial facilities like institutional building and data centers in the U.S. and Canada, growing investments in the construction industry in the U.S., increasing installation of the fire ventilation ducts in buildings, and manufacturers trying to develop energy-efficient HVAC ducting for buildings that are increasing the production of fire-rated ducts in the U.S., are adding to the global fire rated ducts market share in the region. However, the need for fire rated ducts may remain muted for the next few years due to the pandemic as the construction industry is slowly regaining mobility in the market.
The key market players profiled in the report that are helping in the expansion of the fire-rated ducts market include the following:
The factors such as an 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 ducts market over the forecast period. Furthermore, a rise in spending on commercial and residential buildings with construction development is projected to drive the market's growth. In addition, stringent government regulations toward building safety boost the market's growth. Moreover, growth in population and a rise in demand for residential and commercial applications armed with stringent building safety regulations are expected to fuel the market growth. Furthermore, an increase in demand for conventional door replacement will boost the growth of fire-rated ducts in the residential sector.
The global intelligent road system market is fragmented and also competitive for the presence of different international & domestic vital players. These players have incorporated innovative strategies to remain at the vanguard and suffice the customers' burgeoning demand, including collaborations, contracts, partnerships, joint ventures, geographic expansions, & new product launches, & more.
Europe will have gradual growth in the market over the forecast period. The healthcare domain is expected to be a key benefactor of the fire rated ducts installation for ensuring apex safety standards. The fire standards in Europe have made it mandatory for buildings to install for completing ductwork that offers fire resistance by compartment wall or floor for stopping the fire from spreading. Most countries in Europe have their respective fire regulations, yet the rise in building safety standards has boosted the need for fire ducts in the European market. It is essential for fire duct manufacturers and suppliers to get third-party product certificates and independent quality assurance certificates on their fire ducts. It is crucial that the ducts are appropriately sized and must not leak.
The fire rated ducts market report has been prepared in a comprehensive analysis of the global industry, market, and key players. The global market report has covered the market by demand and supply-side by segments. The global report also provides trends by market segments, technology, and other aspects like investment in a competitive market landscape. The objective of the report is to present a detailed analysis of the fire rated ducts market to the stakeholders in the global industry. The past and current status of the industry are discussed and mentioned with the forecasted market size. Trends are presented in the report with complex data analysis for better understandability and broader explanation.
The global market report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. In addition, the core market competencies analyses with the potential impact of micro-economic factors on the market have been presented in the report. The market report highlights the external and internal factors that are supposed to affect the business positively or negatively have been analyzed, giving the decision-makers a transparent, futuristic view of the industry to the market investors and business owners.
|Market Size||2030: Significant Value|
|CAGR||7.1% CAGR (2022 - 2030)|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Material, Shape, Penetration, Service, Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||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)|
|Key Market Opportunities||
|Key Market Drivers||
Fire Rated Ducts Market market is predicted to grow at 7.1% through forecast period of 2022-2030.
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)
Global Fire Rated Ducts Market market is dominated by North America region.
The forecast period for Fire Rated Ducts Market market research report is 2022-2030.