Fire Rated Ductworks Market Estimated To Be Driven By Innovation And Industrialization By 2030

 

Fire Rated Ductworks Market Highlights

Global Fire Rated Ductworks 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 Ductworks Market.

The Global Fire Rated Ductworks Market is expected to reach $60.1 billion in 2030, to be growing at a CAGR of 7.1% from 2022 to 2030.

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.

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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 Ductworks 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 Ductworks 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 Ductworks Market in North America during the forecast period.

Scope of the Report

This study provides an overview of the global Fire Rated Ductworks 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 Ductworks Market by material, shape, penetration, service, application, and region.

By Material

• Steel
• Aluminum
• Fiberglass
• Polymers
• Others

By Shape

• Round
• Half Round
• Rectangular
• Triangular
• Others

By Penetration

• Wall
• Decks
• Floor
• Others

By Service

• Core Drilling
• Seals
• Duct Installation
• Others

By Application

• Public Facilities
• Commercial Facilities
• Industrial Facilities
• Others

By Regions

• North America 
• Asia-Pacific 
• Europe
• Middle East & Africa
• South America

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).