In terms of revenue, the Global Fire Window Market is expected to reach USD 1.3 Million by 2028, growing at a Compound Annual Growth Rate (CAGR) of 3.5% from 2022 to 2028.
Over the forecast period, the market is expected to grow at a higher rate than average due to factors such as the increased incidence of fires and the development of the building industry. In addition, governments around the world have boosted expenditures to better protect residential and commercial structures from fire in response to rising fire incidents.
Key Drivers in the Industry:
· Saint-"Grow Gobain's & Impact" strategy led to the signing of an acquisition deal with Portuguese firms Falper and Fibroplac in May 2022. This tactic has been very successful in the Portuguese market.
· In May of 2022, AGC Inc. revealed plans to increase production at its newly formed Thai subsidiary, AGC Vinythai Public Company Limited. More than 100 billion yen in total investments are planned for this growth.
· A partnership between The NSG Group and Cohda Design Limited (UK) to create conductive glass was announced in October 2021. The use of wires for transferring energy to gadgets will be diminished thanks to this development in the glass sector.
· For the sake of development and growth, Pyroguard moved its UK headquarters to a new location in August 2021. The new location is about 62,000 square feet in size, making it more than three times as large as the old one.
As people move closer to cities for work and recreation, developers have responded by creating a range of high-rise housing options that adhere to stringent fire safety regulations. Over the projected time period, the market is expected to be driven by the reasons mentioned above.
The United States Fire Administration (USFA) reports that 1,291,500 fires occurred in the United States in 2019, resulting in 3,704 deaths, 16,600 injuries, and a loss of USD 14.8 billion. Increased demand for fire-resistant glass is expected in the future years as a result of this increased consciousness about the importance of fire safety measures in the construction industry. Over the projected period, the market is expected to be driven by factors such as rising consumer spending power and an increase in fire accidents. In addition, the aftermarket for automobiles is driving the market forward, and rising defence budgets are also contributing to the industry's expansion.
The construction industry's increasing need for fire-resistant glasses can be attributed to their widespread application in areas like windows, glazing, and doors. These products' ability to prevent the spread of smoke, heat, and fire is a key differentiator for the industry. As a result, spending on new private buildings in the United States is expected to average over USD 1,245 billion per month in 2021.Fireproof glass is widespread in the auto industry, particularly indoor and rear window panels. The need for fire-resistant glass in cars is the result of rising consumer expectations for safety and dependability. It was reported by the International Organization of Motor Car Manufacturers that vehicle sales jumped 4.9% from 2020 to 2021.
Strict government rules imposed on the production of fire-resistant glass, as well as the rising cost of the raw materials used in glass production, are anticipated to act as a restraint on the development of the market. The rise in defence spending, on the other hand, could open up new markets for fireproof glass.
During the forecast period, the Fire Window market in North Americais anticipated to develop at the quickest rate.A number of factors, including rising infrastructure spending, rising consumer disposable income, and a greater emphasis on fire safety by government and regulatory organisations is propelling the regional market.
The Global Fire Window Market is Segmented as follows:
- Metal Windows
- Wood Windows
- Plastic Windows
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
List of the Key Players of the Global Fire Window Market is:
Assa Abloy (Sweden), Vetrotech, YKK AP (US), Rehau Group (Switzerland), Sankyo Tateyama (Japan), Lixil Group (Japan), Schuco (Germany), IMS Group (Norway), Van Dam (Netherlands), Optimum Window (US), Safti First (Australia), Alufire, Promat (Australia), Hope’s Windows Inc. (US), Aluflam (US), Hendry, Fyre-Tec (US), Golden Glass, Hefei Yongtai, Shandong Fire-proof Door
The Global Fire Window Market Scope can be Tabulated as below:
|Market Size Provided for Years||2016-2028|
|Regions & Counties Covered||
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis|