The North America Preformed Firestop Devices Market would witness market growth of 5.3% CAGR during the forecast period (2024-2031).
The US market dominated the North America Preformed Firestop Devices Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $130,077.6 Thousands by 2031. The Canada market is exhibiting a CAGR of 7.6% during (2024 - 2031). Additionally, The Mexico market would experience a CAGR of 6.6% during (2024 - 2031).
Preformed firestop devices are specialized components or assemblies that seal openings or penetrations in fire-rated walls, floors, and ceilings. These devices are manufactured off-site in controlled environments, ensuring consistency in quality and performance. They are usually installed to preserve the integrity of fire-rated barriers and stop the spread of hazardous gases, smoke, and fire during construction or retrofitting.
Furthermore, preformed firestop devices are crucial in enhancing fire safety across various applications, ensuring the protection of buildings, occupants, and critical infrastructure. Their versatility and effectiveness make them indispensable in a wide range of settings. Preformed firestop devices are extensively used in commercial buildings such as offices, retail spaces, hotels, and shopping malls. These buildings typically have complex layouts with numerous penetrations through walls, floors, and ceilings for utilities like electrical cables, plumbing, and HVAC systems. In the event of an emergency, firestop devices are placed around these penetrations to preserve the integrity of fire-rated barriers and stop smoke and fire from spreading. This helps protect occupants and limits property damage, ensuring business continuity and safety compliance.
Mexico's growing renting and leasing sector is witnessing increased commercial and residential real estate activity. Urbanization, economic development, and rising population drive demand for new construction and renovation projects across major cities like Mexico City, Guadalajara, Monterrey, and Puebla. As more buildings are constructed or refurbished for rental purposes, there is a heightened emphasis on fire safety measures, including the installation of preformed firestop devices.
As per the data from the Government of Mexico, in the first quarter of 2024, real estate and rental and leasing recorded a gross domestic product of $2.78T MX. Thus, the rising real estate sector and increasing investments in North America will increase demand for preformed firestop devices in the region. Hence, increasing construction and the region's rising rent & lease sector are driving the market's growth.
Free Valuable Insights: The Preformed Firestop Devices Market is Predict to reach USD 490.4 Million by 2031, at a CAGR of 5.8%
Based on Type, the market is segmented into Sleeves & Pathways, Fire Brick, Blocks, & Plugs, and Others. Based on End User, the market is segmented into Commercial, Residential, and Industrial. Based on Application, the market is segmented into Plumbing, Electrical, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By Type
By End User
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