Fire door market is set to register 16.5 billion-dollar revenue by 2024

Global Market Insights, Inc. has recently added a new report on fire door market which provides a succinct analysis of the market size, revenue forecast, and the regional landscape of fire door industry.

Asia Pacific Fire Door Market was valued at witnessing sales at over 2.5 billion in 2017. The infrastructure investment spree and thriving residential sector have gradually started to spur demand for construction. Rising count of offices, growing travel & tourism sector, coupled with stringent government norms with respect to building security is fueling the market growth. China, India, Australia, and South Korea are among the key revenue generating countries.

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Growing infrastructural investments along with a rising count of fire incidences is fueling the fire door market growth. Government initiatives for promoting public safety and reducing the after effect of fire breakdowns will boost the product demand. GDP growth accompanied by the mandatory installation of fire doors in residential and commercial buildings will augment the industry share. Technological advancements towards enhanced security and better quality doors will stimulate the market expansion in the coming years.

An increasing count of educational institutes, hospitals, and hotels will stimulate the industry growth in the commercial segment. Increasing government focus on buildings adhering to maintain minimum safety norms will boost the business expansion. The rapid development of the construction sector in-line with smart city projects is expected to create new growth opportunities. Design innovations for better aesthetic appearance accompanied by high safety features is propelling the fire door market growth.

Browse key industry insights report, “Fire Door Market Size By Material (Glass, Steel [Steel Honey Comb Door], Timber [Solid Wood Door, Particle Board Core Door, Block Board Core, Structural Composite Lumber Core], Gypsum, Aluminum, Vermiculate Boards), By Product (Hinged, Double Action, Sliding, Flush Glazed), By Application (Residential, Commercial), By End-Use (Internal, External) Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Russia, China, India, Japan, Australia, South Korea, Brazil, Argentina, Mexico, Saudi Arabia, UAE, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024”.

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Steel is projected to hold a dominating share in the global fire door market, registering over USD 7.5 billion revenue by 2024. Improved strength along with better durability will escalate the product scope. Higher protection along with improved aesthetics are among the key factors fueling the business demand. Availability of design and size customizations will positively influence the industry share.

Hinged door sales were over USD 5.5 billion in 2017. Cost competitiveness along with the effective fire resistance capacity will surge the product penetration. Minimal maintenance cost along with enhanced fire protection is augmenting the market growth. External use fire doors accounted for over 85% of the share in 2017. Mandatory installation requirements in housing and commercial buildings will boost the fire door market growth. Enhanced design options to make the product sustainable and trendy will support the product demand over the forecast timeframe.

The commercial sector will witness over 6.5% growth from 2018 to 2024. Rapid expansion of commercial buildings due to rising industrialization is positively influencing the market development. Increasing government spending on hospital safety to reduce fire incidences will stimulate the fire door market growth.

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The global fire door market share is highly competitive with the presence of large multinationals, along with presence of regional manufacturers. The key industry players in the market include Hormann, Chase, Mesker, Nihon Funen, Assa Abloy, Naffco, Rapp Bomek, and Vista Panels. Other prominent players include Fusim, Agta Record, Buyang Group, Jia Hui, and Taotao. Mergers & acquisitions to expand the product portfolio along with expanding the distribution network are among the major strategies observed in the industry.

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About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Name: Arun Hegde
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Organization: Global Market Insights
Phone: 1-888-689-0688
Website: https://www.gminsights.com/industry-analysis/fire-door-market

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