(EMAILWIRE.COM, August 12, 2023 ) The report “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″, size is projected to reach USD 28.5 billion by 2027 at a CAGR of 6.7% from USD 20.6 billion in 2022. Growth of the market is fueled by the growth of the construction industry, increase in loss of human lives and property due to fire breakouts, stringent regulatory compliances, and rise in the adoption of wireless technology in fire detection systems. High initial costs, concerns about false alarms and detection failures, and the high cost of upgrading traditional fire detectors to smart detectors are restraining market growth.
Browse in-depth TOC on “Fire Protection System Pipes Market
121 – Market Data Tables
46 – Figures
206 – Pages
Download PDF brochure of the Report @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=163933967
Welded pipes, type segment likely to dominate fire protection system pipes market during the forecasted period.
The fire protection system pipes market was dominated by the welded pipes segment in 2021. Welded fire protection system pipes witnessed higher demand from emerging countries 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.
Countries such as China, India, Vietnam, and Indonesia are identified as high-growth markets as there are increasing opportunities and demand for fire protection system pipes. Markets in countries, such as Vietnam and Indonesia, are growing at high rates in product finishes, marine, and other heavy industries.
Steel pipes, material segment likely to dominate the fire protection system pipes market during forecast period.
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.
Steel is subdivided into carbon steel, stainless steel, and alloy steel. These materials are in high demand for pipe manufacturing in different end-use industries. They differ based on properties and characteristics as per the applications where these are required. They differ in prices based on their properties and availability.
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.
During the forecast period, the demand for steel pipes is expected to increase due to the rising demand from end-use industries such as heavy infrastructure, water treatment, oil & gas, shipbuilding, and product finishes. High demand is expected for steel pipes in emerging countries such as Brazil, Thailand, and India due to increased developments in the infrastructure and industrial sectors in these countries.
Get Sample Pages of This Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=163933967
Fire sprinkler system, application segment likely to account the largest share of the fire protection system pipes market during forecasted period.
A fire sprinkler system dominated the fire protection system market in 2021 and is projected to grow faster in forecasted period. Fire sprinkler systems are mostly used in commercial and industrial buildings, apart from homes and smart buildings.Thus rise in commercial buildings, smart buildings and industries is boosting the demad of fire sprinkler systems.
Industrial, end-use industry segment likely to account the largest share of the fire protection system pipes market during forecasted period.
The fire protection system pipes market has been segmented into commercial, residential, and industrial segments. The industrial vertical has been further segmented into energy & power; government; manufacturing; oil, gas, and mining; transportation & logistics; and others (IT and telecom, pharmaceuticals, chemicals, and pulp & paper). The commercial vertical has been further segmented into academia and institutional; office building; healthcare; hospitality; and others (retail, banking, financial services, and insurance).
The industrial segment dominated the fire protection system pipes market in 2021. The industrial segment dominated the fire protection system pipes market in 2021 and is expected to grow faster during the forecasted period. The high growth of the industrial segment is attributed to the increasing demand from the oil, gas & mining industry. 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.
Don’t miss out on business opportunities in Fire Protection System Pipes Market. Speak to Our Analyst and gain crucial industry insights that will help your business grow. https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=163933967
The industrial segment accounted for the largest share, in terms of value, of the fire protection system pipes market in 2021. The dominance of the industrial segment is projected to continue during the forecast period due to the rising demand from various end-use industries such as energy & power, government, manufacturing, oil, gas & mining, and transportation & logistics.
North America likely to account largest share of the fire protection system pipes market during forecasted 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. Increased awareness about fire safety systems and government regulationsare among the significant factorsdriving the North Americas market.
North America is a diversified market and has many fire protection system pipes manufacturing companies. These companies primarily focus on new product developments to cater to the increasing demand from end users. The North American fire protection system pipes market is driven by technological advancements in manufacturing and high-quality end products.
Major Market Players covered in the report Johnson Controls (Ireland), Tata Steel (India), Simona AG(Germany), Astral Pipes (India), China Lesso (China), Octal Steel (China), Jindal Industries Pvt. Ltd. (India), Aquatherm (Germany), Zekelman Industries (US), TPMC Steel (China)
About MarketsandMarkets
MarketsandMarkets is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Ashish Mehra
MarketsandMarkets INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Website: https://www.marketsandmarkets.com