The global Aspirating Smoke Detector market is projected to grow from US$ 289.3 million in 2023 to US$ 394 million by 2029, at a Compound Annual Growth Rate (CAGR) of 5.3% during the forecast period. Please leave a note in the Comment Section to know about our subscription plans. We have introduced a tailor-made subscription for our customers. During the projected period, it is anticipated that this aspect would increase market demand.īuy Now for Single User + Covid-19 Impact: Consumers' increasing purchasing power and the government's and regulatory bodies' greater focus on raising fire safety standards. This is due to both expanding consumer knowledge of fire safety and increasing and driving demand for multifamily housing activities. The most lucrative region is anticipated to be North America. Still one of the most economical solutions for fireproofing structures is cementitious material. The sector of cementitious materials formerly occupied the majority of the market for passive fire protection, and it is anticipated that it will continue to dominate over the projection period. PASSIVE FIRE PROTECTION (PEP) MARKET SHARE ANALYSIS: This factor is expected to drive the growth of the Passive Fire Protection Market. A passive fire prevention system's potential to reduce danger in LPG (liquefied petroleum gas) vehicle transport was looked at. A fire on board must be found and put out as soon as possible in order to safeguard your possessions. The dangers are increased by long working hours, challenging working environments, hot engine and exhaust components, and other factors. One of the biggest risks to the security of transport and haulage trucks, the cargo they carry, and the places they deliver to is fire. Every year, hundreds of thousands of automobile fires take place all over the world, claiming thousands of lives and causing billions of dollars worth of physical damage. Transportation vehicle fires pose a serious risk to people's lives and property. Gas stations and oil rigs are only two of the places where activities in the oil and gas sector take place. Due to this, steel may continue to support loads during a fire for up to four hours longer, providing crucial time for occupants to flee the structure and for firefighters to put out the fire. When exposed to high temperatures, coatings used in industrial oil and gas facilities expand to create an insulating layer of carbon char. Coatings that provide passive fire protection are becoming more significant in the oil and gas sector. This factor is expected to drive the growth of the Passive Fire Protection (PFP) MarketĬoating, cladding, or free-standing system that offers thermal protection against fire and doesn't require human, mechanical, or other forms of igniting, replenishing, or maintaining. There can be redundant levels of protection to protect building inhabitants and property during a fire if all passive (and active) fire protection systems are designed, installed, and maintained correctly over the course of the structure's life. Generally speaking, passive fire protection elements consist of a fire-resistant design that compartmentalizes the structure and confines the fire to a particular floor or region. The safety of building inhabitants and the protection of property during a fire event will be guaranteed by a balanced fire and life safety design strategy including passive and active systems. In the construction business, implementing a safety and health management system is far more difficult. TRENDS INFLUENCING THE GROWTH OF THE PASSIVE FIRE PROTECTION (PEP) MARKET The need for passive fire prevention coatings in equipment protection and other offshore and onshore applications is driven by the oil and gas industry.Īdditionally, the Passive Fire Protection (PFP) Market is expected to be driven by a rise in demand from end-use industries like building & construction, and transportation. This Passive Fire Protection (PFP) Market is anticipated to be driven by rising oil & gas industry spending in exploration and production as well as technical advancements over the forecast period. Major factors driving the Growth of the Passive Fire Protection (PFP) Market The global Passive Fire Protection (PFP) Market size was 4.1 Billion USD in 2022 and it is expected to reach about 6.67 billion USD in 2029, with a CAGR (2022-2029) of 7.2%.
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