Fire Door Market Booming Demand Leading To Exponential CAGR Growth By 2030
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.
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.
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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.
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.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
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- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
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The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
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