New York, United States , July 24, 2023 (GLOBE NEWSWIRE) -- The Global Fire Protection System Pipes Market Size is To Grow from USD 21.98 Billion in 2022 to USD 48.62 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 8.26% during the projected period. The increasing adoption of firefighting systems in various applications such as alarms and notification systems, fire suppression systems, fire sprinkler systems, and others in several industries such as alarms and notification systems, fire suppression systems, fire sprinkler systems, and others is expected to drive demand for the fire protection system pipes market during the forecast period.
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Fire protection system pipes are used in automatic sprinkler systems, as well as other water-based fire defense systems. These pipes are often painted red to aid firefighters and others in identifying them and keeping them distinct from the rest of the water systems. To be easily identified, fire protection pipes are often composed of strong carbon steel and painted red. There are galvanized light-wall versions available, which may appear shiny on the outside. There are also fire sprinkler pipes made of CPVC and copper. In real time, the fire protection system pipes can identify, control, and track information. The integration of cutting-edge advancements such as artificial intelligence (AI), the Internet of Things (IoT), and smart sensors is projected to boost the market for fire protection system pipes. The rising demand for houses and commercial spaces is driving expansion in the building industry in developed countries. These systems are utilized in businesses, households, public places, and public vehicles. These systems must adhere to the fire regulations and requirements specified by local, state, and federal regulatory agencies.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the, "Global Fire Protection System Pipes Market Size, Share, and COVID-19 Impact Analysis, By Type (Seamless, Welded), By Material (Steel, CPVC, Copper, Others), By Application (Alarms and Notification Systems, Fire Suppression System, Fire Sprinkler System, Others), By End-Users (Industrial, Commercial, Residential), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032." Get Detailed Report Here:
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The welded segment is dominating the market with the largest revenue share over the forecast period.
On the basis of type, the global fire protection system pipes market is segmented into the seamless and welded. Among these, the welded segment is dominating the market with the largest revenue share of 73.6% over the forecast period, the increased demand for welded pipes is mostly due to their lower pricing when contrasted with seamless pipes. The expansion of this market might be attributed to growing domestic demand as well as considerable growth in downstream sectors such as oil and gas, maritime, and construction.
The steel segment is witnessing significant CAGR growth over the forecast period.
On the basis of material, the global fire protection system pipes market is segmented into steel, CPVC, copper, and others. Among these, the steel is witnessing significant CAGR growth over the forecast period. The steel segment is further classified into three types: carbon steel, stainless steel, and alloy steel. The aforementioned materials are in tremendous supply for the manufacture of pipes in a variety of end-use industries.
The industrial segment accounted for the largest revenue share of more than 57.2% over the forecast period.
On the basis of end-users, the global fire protection system pipes market is segmented into industrial, commercial, and residential. Among these, the industrial segment is dominating the market with the largest revenue share of 57.2% over the forecast period. This market's increase might be due to rising domestic demand as well as significant growth in downstream industries such as oil and gas, maritime, and construction.
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North America dominates the market with the largest market share over the forecast period.
North America is dominating the market with more than 45.7% market share over the forecast period. Growing awareness of fire safety systems and regulatory limits are two primary drivers driving the North American industry. Furthermore, North America is a diverse marketplace with numerous fire prevention system pipe producers. These companies are primarily concerned with developing new items in order to meet rising consumer demand.
Asia Pacific is expected to grow the fastest during the forecast period
Asia Pacific, on the contrary, is expected to grow the fastest during the forecast period. Rising manufacturing industries, low labor costs, and rapid economic growth have all contributed to the region's fire prevention system pipes market expansion. Japan, China, South Korea, and India are the top producers of raw materials used in fire prevention system pipes. All of these countries are working hard to increase consumer spending, which is expected to play a significant influence in increasing demand for fire prevention system pipes over the forecast period.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Fire Protection System Pipes Market include Johnson Controls, Tata Steel, Simona AG, Astral Pipes, China Lesso, Octal Steel, Jindal Industries Pvt. Ltd., Aquatherm, Zekelman Industries, TPMC Steel, Engineered Fire Piping S.L., Guardian Fire Equipment, Inc., Triangle Fire Systems Ltd, Rawhide Fire Hose, Federal Steel Supply, and among others.
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Recent Developments
On April 2023, REV Fire Group, a division of REV Group, Inc., announces that Fire Apparatus Solutions (FAS) has acquired the REV Fire California dealership and will expand its coverage as the state's new FerraraTM and KME® authorized dealer. This acquisition by Fire Apparatus Solutions contributes to REV Fire Group's strategic strategy to provide a more customer-centric company model entirely focused on selling and servicing fire apparatus and equipment in California.
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