The North America Fire Protection System Pipes Market would witness market growth of 6.1% CAGR during the forecast period (2023-2029).
The sales of fire protection systems pipes are on the rise due to the many benefits associated with their use. The system under consideration exhibits remarkable efficiency, reduced water loss, faster activation times, and an increased capacity for oxygen displacement. The introduction of these systems is expected to generate promising business prospects in high-risk industrial sectors, including gas, mining, oil, and petrochemical.
The growth of construction is being driven by a major element, which is the demand for energy efficiency. The implementation of fire protection systems is crucial in detecting fire within a premise and alerting individuals for evacuation. In recent years, there have been multiple incidents of fire-related accidents occurring in both commercial and residential settings, resulting in fatalities. Therefore, it is imperative for architects to incorporate fire protection systems in buildings to prevent potential losses.
The implementation of fire protection measures involves the utilization of fire safety protocols and specialized equipment to safeguard property from potential fire hazards. The implementation of fire safety equipment is widespread across various settings, including living areas, factories, public vehicles, and public places.
Government regulations that are supportive, the introduction of cutting-edge fire prevention technologies, and an increase in fire safety concerns drive the demand for fire protection systems in the region. Businesses in the construction sector and real estate developers must abide by the standards for building fire safety systems established by the US government. The demand for installing fire protection systems to lessen the danger of damage from fire outbreaks is increasing due to the expansion of construction activities in North America. The region's growing population contributes to infrastructure investments in nations like Canada and the United States. The need for fire protection system pipes is mostly rising from businesses that use or produce flammables like oil, gas, etc. All of these elements would encourage regional market expansion in the coming years.
The US market dominated the North America Commercial Market by Country in 2022; thereby, achieving a market value of $2,902.3 million by 2029. The Canada market is poised to grow at a CAGR of 8.6% during (2023 - 2029). Additionally, The Mexico market would register CAGR of 7.6% during (2023 - 2029).
Based on End User, the market is segmented into Industrial (Oil & Gas, Energy & Power, Manufacturing & Mining, Transportation & Logistics and Others), Commercial (Healthcare, Office Buildings, Educational Institutes, Hospitality and Others) and Residential. Based on Material, the market is segmented into Steel, CPVC and Copper. Based on Application, the market is segmented into Fire Sprinkler System and Fire Suppression System. Based on Type, the market is segmented into Welded Pipes and Seamless Pipes. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Worldwide Fire Protection System Pipes Market is Projected to reach USD 31 Billion by 2029, at a CAGR of 6.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Johnson Controls International PLC, TATA Steel Limited (TATA Group) (Tata Sons Pvt. Ltd.), Simona AG, Astral Limited, China Lesso Group Holdings Ltd, Octal Steel, Jindal Industries Pvt. Ltd., Zekalman Industries, Federal Steel supply, and Tianjin Profound Multinational Trade Co., Ltd. (TPMCSTEEL)
By End User
By Material
By Application
By Type
By Country
Unique Offerings Our team of dedicated experts can provide you with attractive expansion opportunities for your business.
