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Fire Door Market: Know the key growth strategies adopted by key players
Market is Expected to Grow at the Highest CAGR During the Forecast Period
Prominent players operating in the global fire door market are ASSA ABLOY, UK Fire Doors, Chinsun, Howden Joinery, Buyang, Zhucheng Group, Teckntrup, Rapp Marine, Wonly Group, Republic Doors and Frames, Hueck, HORMANN, Jia Hui Doors, Saintgeneral, Simto, Sanwa, Chuntian Group, NINZ, WANJIA, FUSIM, Dali, Meixin, Vista, Taotao, and Schuco.
A fire door refers to a door with fire-resistance rating which is utilized as a passive fire protection system to reduce the spread of smoke and fire between various compartments of a building and to enable safe escape from the structure or building. Some of these doors are held open with the help of electromagnets which is further wired to an alarm system, whereas some doors are meant to be open in normal circumstances and closes automatically in case of fire.
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Increasing awareness on building safety and initiatives to minimize property damage in case of fire is expected to boost the growth of the fire door market over the forecast period. Furthermore, growing spending on commercial and residential buildings coupled with infrastructure development is projected to drive the market growth in the coming years. Many emerging countries have made it mandatory to install fire doors in commercial and public buildings. This in turn is anticipated to positively impact the product penetration over the forecast period. Additionally, stringent government regulations and policies by various associations (which include National Fire Protection Association (NFPA)) on fire protection systems and building safety codes is further projected to spur the market growth for fire doors in the coming years. However, high installation cost and high maintenance is expected to hamper the market growth.
The global fire door market can be segmented based on material, product, application, end-use, and region. Based on material, the fire door market is segmented into steel, glass, timber, aluminum, gypsum, and vermiculate boards. Further, timber material is classified as particle board, core door, solid wood door, block board door, and structural composite lumber core door. Steel doors are expected to contribute majorly to the market share in terms of revenue over the forecast period. These doors are mostly utilized due to unique features which include enhanced aesthetics, superior safety, and optimum functionality which in turn is expected to boost the market for steel based fire doors in the near future. The product segment is categorized into double action, hinged, flush-glazed, and sliding. Flush-glazed fire doors are projected to witness significant growth over the forecast period. The growth is attributed to the superior insulation properties offered by them. Furthermore, growing demand for increased safety and lightweight applications of fire doors is expected to positively impact the market over the forecast period.
Based on the application, the fire door market is segregated into commercial and residential application. Fire doors for commercial applications is projected to acquire major share of the market in terms of revenue over the forecast period. Growing advancement in building infrastructure majorly focusing on security and safety coupled with implementation of environment friendly products are anticipated to be major trends spurring the expansion of the segment. In terms of end-use, the market is divided into internal and external end-use of fire doors. Mandatory installation of external doors in commercial buildings is expected to drive the growth of the external end-use segment in the fire door market over the forecast period.
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Based on region, the fire door market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Europe is expected to account for major share in the fire door market due to strict safety regulations for buildings in the region. Furthermore, the market in Asia Pacific is projected to witness significant growth over the forecast period due to implementation of strict regulations related to building safety, rising consumer awareness, and increasing consumer preferences for precaution and safety products in the region.
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