An increase in demand for fire-rated doors from various residential and commercial sectors is anticipated to drive the growth of the market.
PORTLAND, OR, UNITED STATES, October 11, 2021 /EINPresswire.com/ — The global fire-rated doors market is anticipated to grow owing to surge in population and urbanization. In addition, increase in consumer awareness towardfire safety and rise indemand for commercial and non-residential areas are anticipated to cater to the growth of the fire-rated doors market. An increase in stringent building safety regulations by different governments is expected to drive the growth of the fire-rated doors market.
The global fire rated doors market size is expected to reach $60.1 billion in 2027 from $42.2 billion in 2019, growing at a CAGR of 6.1% from 2020 to 2027.
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Moreover, government investment pertaining to the infrastructure development propelsthe global fire-rated doors market growth. Moreover, increasein urbanization and industrialization in countries suchas India, China, and others is expected to provide lucrative opportunities for the fire-rated doors market. Nevertheless, key playersare facing falling price pressure due to rise in competition, this in turn, is expected to hamper the market growth.
Rise in construction activities and increase in demand for robust doors in non-residential spaces fuel the growthof the global fire-rated doors industry. Fire-rated doors are made of materials such as wood, metal, glass, and others. Steel fire doors are robustin nature, superior aesthetic, durable, easily customizable, and provide increased precision. These properties boost the growth of the market.
Top 10 Leading Players
Agta Record Ltd
ASSA ABLOY Group
Godrej & Boyce Manufacturing Company Limited
Griffon Corporation Inc.
JELD-WEN Holding, Inc
Lindner Group KG
MANUSA GEST, S.L.
Sanwa Holdings Corporation
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Key Market Segmentation
Swinging Fire Doors
Sliding Fire Doors
Folding Fire Doors
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Source: EIN Presswire