The implementation of stringent building regulations is
significantly boosting fire collars market revenue by mandating the
use of fire retardant materials in construction.
WILMINGTON, Del., July 23, 2024 /PRNewswire/ -- The global
fire collars market stood at US$
331.9 million in 2023, and the global market is
projected to reach US$ 571.9
million in 2034. The fire collars market is
anticipated to expand at a CAGR of 5.2% between 2024 and
2034.
The global fire collars market is experiencing significant
growth due to several factors, including stringent building
regulations, an increase in fire incidents, and advancements in
fire protection technologies. Fire collars, essential components in
fire safety systems, are used to seal openings around pipes and
cables that penetrate fire-rated walls and floors, preventing the
spread of fire and smoke.
Stringent building regulations are a major driver of the fire
collars market. Governments worldwide are enacting and enforcing
stricter fire safety codes to enhance building protection. These
regulations often mandate the use of fire-resistant materials,
including fire collars, to ensure that penetrations in fire-rated
barriers do not compromise the integrity of the structure.
Compliance with these regulations is crucial for construction
projects, driving the demand for high-quality fire collars.
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The increasing number of fire incidents globally is another
significant factor contributing to the market's growth. As fire
safety becomes a higher priority in both residential and commercial
buildings, the need for effective fire containment solutions, such
as fire collars, has risen. These collars help contain fires within
designated areas, minimizing damage and enhancing overall
safety.
Technological advancements in fire collar design are also
shaping the market. Manufacturers are developing innovative
products that offer improved fire resistance, ease of installation,
and versatility. These advancements make fire collars more
effective and user-friendly, further driving their adoption.
Geographically, the Asia-Pacific region is emerging as a
significant market, driven by rapid urbanization, infrastructure
development, and evolving safety regulations. The global fire
collars market is expanding due to the implementation of strict
building regulations, a rise in fire incidents, and technological
advancements in fire protection. As safety standards continue to
evolve and infrastructure projects increase, the demand for
effective fire collars is expected to grow, shaping the future of
the market.
Fire Collars Market Report Scope:
Report
Coverage
|
Details
|
Forecast
Period
|
2024-2034
|
Base
Year
|
2020-2022
|
Size in 2023
|
US$ 331.9 Mn
|
Forecast (Value) in
2034
|
US$ 571.9 Mn
|
Growth Rate
(CAGR)
|
5.2 %
|
No. of
Pages
|
241
Pages
|
Segments
covered
|
By Battery Type, By
Application, By Voltage Type, By Component, By End-user
|
Key Takeaways of Market Report
- Global fire collars market to generate absolute dollar
opportunity worth US$ 571.9 million
until 2034.
- Global fire collars market is valued at US$ 331.9 million in 2023.
- Asia Pacific is forecasted to
hold the largest share in 2023.
Fire Collars Market: Growth Drivers
- Stringent fire safety regulations have been enacted globally
for residential, commercial, and industrial sectors to protect
health and safety. These regulations often require the installation
of fire collars around pipe penetrations in fire-resistant
barriers.
- Fires pose severe risks, leading to significant loss of life
and property damage. In 2022, the National Fire Protection
Association (NFPA) reported that U.S. fire departments responded to
approximately 1.5 million fires, resulting in 3,790 civilian deaths
and 13,250 injuries. The estimated property damage from these
incidents amounted to US$ 18
billion.
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Fire Collars Market: Regional Landscape
- In 2023, Asia Pacific
held the largest share of the fire collars market and is expected
to maintain its dominance throughout the forecast period. The
region's strong market presence is driven by an increased focus on
passive fire protection measures, which enhance building safety and
comply with evolving fire safety standards.
- The fire collars market in the Middle East & Africa is being propelled by stringent
building regulations. For instance, in June
2024, the Kuwaiti government announced plans to introduce a
new law aimed at preventing building violations, which is expected
to boost the demand for fire collars as part of enhanced fire
safety and compliance measures.
Fire Collars Market: Key Players
- In 2023, Walraven introduced a new range of fire collars
featuring enhanced fire resistance and improved installation ease.
These advanced fire collars are designed to provide superior
protection by maintaining the integrity of fire-rated walls and
floors, even in extreme conditions. The innovation emphasizes
quicker installation and greater adaptability to various pipe
materials, meeting stringent safety standards.
- In 2023, KBS Corporate Sales Ltd. launched a smart fire
collar system integrated with real-time monitoring capabilities.
This system offers enhanced safety by providing alerts and
diagnostics on fire collar performance and potential breaches. The
technology aims to improve fire safety management by allowing for
proactive maintenance and immediate response in case of
fire-related issues.
Fire Collars Market: Segmentation
By Type
- Stainless Steel Cases
- Steel Cases
- Others
By Application
- Office Buildings
- Hospitals
- Shopping Centers
- Others
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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