Fire Protection System Pipes Global Market Report 2023: Periodic Revision of Regulatory Compliance to Increase Fire Safety Presents Opportunities

Global Fire Protection Systems Market

Dublin, March 07, 2023 (GLOBE NEWSWIRE) -- The "Fire Protection System Pipes Market by Type (Seamless, Welded), Material (Steel, CPVC, Copper), Application (Fire Suppression System, Fire Sprinkler System), End-use Industry(Residential, Industrial, Commercial), and Region- Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The fire protection system pipes market size is projected to reach USD 28.5 billion by 2027 at a CAGR of 6.7% from USD 20.6 billion in 2022. The steel pipes, by material segment is estimated to account for the largest share of the fire protection system pipes market in 2022.

Welded pipes, by type accounted for the largest segment of fire protection system pipes market

The welded segment accounted for the larger share of the market in 2021. The higher demand for welded pipes is mainly attributed to their lower price when compared to seamless pipes. Asia Pacific is the fastest-growing region for welded pipes in the fire protection system pipes market. The growth of this market is attributed to the rising demand from the domestic market and rapid growth in end-use industries, such as oil & gas, marine, and construction.

Steel pipes, by material accounted for the largest segment of fire protection system pipes market

The steel pipes segment accounted a largest share in the fire protection system pipes market and thus dominated the market. Steel pipes have high demand from the chemical, oil & gas, petrochemical, automotive, and mechanical & engineering industries, owing to which these tubes account for a higher market share. The increasing demand from the commercial vertical is expected to drive the segment. Asia Pacific is the fastest-growing market for steel pipes. The growth is attributed to the high demand for steel in the region and relatively lower prices than in other regions. The rapidly increasing demand from maintenance applications, especially in China and South Korea, further increases the demand for steel pipes.

Fire sprinkler system, by application accounted for the largest segment of fire protection system pipes market

Based on application, the fire sprinkler system segment is expected to account for the larger share of the market during the forecast period. The fire sprinkler system segment market size was USD XX million in 2021 and is projected to reach USD XX million by 2027, at a CAGR of XX%, in terms of value, between 2022 and 2027. Rise in commercial buildings, smart buildings, and industries is boosting the demand of fire sprinkler system and hence driving the fire protection system pipes market. The wet fire sprinklers segment is expected to account for the largest share of the fire sprinklers market during the forecast period. This large share can be attributed to the growth of the industrial sector, where the probability of a fire disaster is more due to the presence of flammable materials, such as oil and gas.

Industrial, by end-use industry accounted for the largest segment of fire protection system pipes market

Based on end-use industry, the industrial segment is expected to account for the largest share of the market during the forecast period. Fire breakouts in offshore oil platforms, oil pumping stations, refineries, gasoline storage tanks, compressor stations, gas processing plants, and liquefied natural gas receiving facilities could become unmanageable due to harsh environments and remote locations. Thus, the industrial segment has a high demand for the installation of these systems in the oil & gas sector to prevent such fire breakouts

North America, by region is forecasted to be the largest segment of fire protection system pipes market during the forecast period

North America has been leading the fire protection systems pipes market due to a rise in strategic collaboration and innovation among market participants and demand from various end-use industries such as residential, commercial, and industrial. The US is expected to account for the largest share of the fire protection system pipes market in North America during the forecast period. Supportive government regulations, the adoption of advanced fire protection technologies, and a rise in concerns related to fire protection are driving the market. The US government has laid down certain norms for building fire protection systems, which real estate developers and construction companies must follow. This factor is propelling the fire protection system pipes market in the US.

Research Coverage:

The fire protection system pipes market has been segmented based on by Type (Seamless Pipes, Welded Pipes), By Material (Steel, CPVC, Copper, Others), By Application (Fire Suppression System, Fire Sprinkler System), By End-use Industry (Residential, Industrial, Commercial), and by Region (Asia Pacific, North America, Europe, South America, and Middle East & Africa).

Market Dynamics

Drivers

Increasing Urbanization and Infrastructure Development

Rising Number of Fire Incidents

Strict Government Regulations Pertaining to Fire Protection

Growing Adoption of Wireless Technology in Fire Detection Systems

Technological Advancements and Innovations in Construction Industry

Restraints

High Installation and Maintenance Costs

Issues of False Alarms and Detection Failures

High Cost of Smart Detectors

Opportunities

Periodic Revision of Regulatory Compliance to Increase Fire Safety

Challenges

Lack of Integration and Configuration in Fire Protection Solutions

Design and Maintenance of Fire Sprinklers

Report Attribute

Details

No. of Pages

202

Forecast Period

2022 - 2027

Estimated Market Value (USD) in 2022

$20.6 Billion

Forecasted Market Value (USD) by 2027

$28.5 Billion

Compound Annual Growth Rate

6.7%

Regions Covered

Global

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Fire Protection System Pipes Market, by Type

7 Fire Protection System Pipes Market, by Material

8 Fire Protection System Pipes Market, by Application

9 Fire Protection System Pipes Market, by End-Use Industry

10 Fire Protection System Pipes Market, by Region

11 Competitive Landscape

12 Company Profiles

13 Appendix

Companies Mentioned

Aquatherm

Astral Ltd.

Borusan Mannesmann

Bull Moose Tube Company

China Lesso

Engineered Fire Piping

Federal Steel Supply

Guardian Fire Equipment Inc.

Jakob Eschbach

Jindal Industries Pvt. Ltd.

Johnson Controls

Kan-Therm GmbH

Mercedes Textiles

Minimax

Newage Fire Protection Industries Pvt. Ltd.

Octal Steel

Rawhide Fire Hose LLC

Simona Ag

Tata Steel

Tpmcsteel

Triangle Fire Systems

Weifang East Steel Pipe

Zekelman Industries

Zinchitalia Spa

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Global Fire Protection Systems Market