Portland, OR, Sept. 21, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global fire rated doors market generated $42.22 billion in 2019, and is estimated to reach $60.12 billion by 2027, registering a CAGR of 6.1% from 2020 to 2027. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenarios.
Surge in awareness regarding safety from fire incidents and increase in non-residential & residential construction activities across the globe drive the growth of the global fire rated doors market. However, variations in raw material prices and high cost of investment associated with automatic fire rated doors hinder the market growth. Furthermore, surge in government investment in the infrastructure development activities is expected to create new growth opportunities for market players during the forecast period.
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Covid-19 scenario:
- Several major fire rated doors manufacturers across the globe have halted their production due to raw material supply chain disruption amidst the lockdown due to the Covid-19 pandemic.
- Lockdown in several countries amid Covid-19 pandemic have halted several ongoing residential and commercial construction projects, due to which, the demand for fire rated doors has been declined.
- The government of various countries such as China and India are now lifting the lockdown restrictions and the infrastructural development activities have resumed.
The report offers a detailed segmentation of the global fire rated doors market based on material type, mechanism, end-user, and region.
Based on material type, the metal segment contributed to the largest share in 2019, accounting for nearly half of the total share, and is estimated to maintain its dominant position during the forecast period. However, the glass segment is estimated to portray the highest CAGR of 7.2% during the forecast period.
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Based on end-user, the non-residential segment accounted for the largest share in 2019, holding nearly three-fourths of the total share, and is expected to maintain the largest share throughout the forecast period. However, the residential segment is expected to register the highest CAGR of 6.7% from 2020 to 2027.
Based on region, Asia-Pacific contributed the highest share, accounting for more than one-third of the total market share in 2019, and will maintain its dominance throughout the forecast period. In addition, this region is expected to grow at the highest CAGR of 6.8% from 2020 to 2027. The research also analyzes regions including Europe, North America, and LAMEA.
Leading market players analyzed in the research include Assa Abloy Group, Agta Record Ltd, Godrej & Boyce Manufacturing Company Limited, Geze GmbH, Jeld-Wen Holding, Inc, Griffon Corporation Inc., Manusa Gest S.L., Lindner Group KG, Sanwa Holdings Corporation, and Nabtesco Corporation.
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