PUBLISHER: Allied Market Research | PRODUCT CODE: 1415015
PUBLISHER: Allied Market Research | PRODUCT CODE: 1415015
According to a new report published by Allied Market Research, titled, "Fire Protection System Pipes Market," The fire protection system pipes market was valued at $20.2 billion in 2022, and is estimated to reach $34.7 billion by 2032, growing at a CAGR of 5.7% from 2023 to 2032.
The factors such as surge in awareness regarding safety from fire and rise in residential & nonresidential construction activates drive the growth of the market. As people and organizations become more mindful of the dangers posed by fire accidents, there's a notable surge in the need for robust fire protection systems, including the essential fire protection system pipes. This rise in consciousness stems from a shared understanding of the destructive impact of fires on lives and properties, prompting proactive steps to reduce such risks. This heightened awareness about fire safety standards encourages property owners, businesses, and construction ventures to prioritize installing or enhancing fire protection systems, consequently driving the demand for dependable and efficient fire protection system pipes.
In addition, an increase in government investments in the building infrastructure sector is fueling the demand for fire protection systems pipes. However, fluctuating raw material prices are expected to hamper the market growth. Furthermore, the technological advancements to ensure safety & security are anticipated to offer lucrative growth opportunities for the market players during the forecast period.
One promising opportunity involves creating environmentally friendly solutions for fire protection system pipes. The development of ecologically friendly fire protection system pipe solutions is one exciting prospect. This opportunity results from a growing emphasis on sustainability and environmentally friendly activities on a worldwide scale. Manufacturers and innovators in the fire safety sector are looking at how to create pipes with low environmental effect and that are made of sustainable materials. It is anticipated that demand for fire prevention system pipes constructed of environmentally sustainable materials would rise as governments, corporations, and consumers place a higher priority on eco-friendly activities. In addition to addressing safety concerns, these potential benefits environmental efforts and gives businesses who use eco-friendly solutions in the fire prevention system pipes market a competitive edge. Consequently, there is a potential route for development and market expansion through the integration of fire safety solutions with sustainable practices, meeting both safety and environmental goals.
The fire protection systems pipes market is classified into material type, application, end user, and region. Based on material type, the market is categorized into steel, CPVC and others. Depending on application, the market is segmented into fire suppression systems and fire sprinkler systems pipes. By end user, the market is segmented into commercial, industrial, governmental, institutional, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific is expected to dominate the market during the analysis period due to growth in technical advancement in fire protection systems pipes and increase in infrastructure investments.
The key companies profiled in the report include Anvil International, LLC., ASTRAL LIMITED, China Lesso Group Holdings Limited, Gf Piping Systems, HALMA PLC, Johnson Controls International plc, Minimax Viking GmbH, Mueller Industries, Inc., Simona AG and TPMC STEEL (Tianjin Profound Multinational Trade Co., Ltd.).