According to a new report, published by KBV research, The Global Preformed Firestop Devices Market size is expected to reach $490.4 million by 2031, rising at a market growth of 5.8% CAGR during the forecast period.
The Fire Brick, Blocks, & Plugs segment is registering a CAGR of 6% during (2024 - 2031). Fire bricks, blocks, and plugs are known for their superior fire-resistant properties. They provide robust sealing around penetrations, effectively preventing the spread of fire, smoke, and heat through walls, floors, and ceilings. This enhanced protection is critical for maintaining building safety and compliance with stringent fire safety regulations.
The Commercial segment is leading the Global Preformed Firestop Devices Market by End User in 2023; thereby, achieving a market value of $257.1 million by 2031. Commercial buildings are subject to rigorous fire safety codes and regulations, which mandate firestop solutions. Adherence to these regulations is imperative to ensuring the safety of residents, obtaining the required permits, and passing inspections. Preformed firestop devices are critical for meeting these regulatory requirements.
The Electrical segment would capture a CAGR of 6% during (2024 - 2031). Modern buildings require extensive electrical wiring and cabling for power, data, and communication systems. Each penetration through these cables' walls, floors, and ceilings creates potential pathways for fire and smoke, necessitating effective fire-stopping solutions. The sheer volume of electrical penetrations drives demand for preformed firestop devices.
Full Report: https://www.kbvresearch.com/preformed-firestop-devices-market/
The North America region dominated the Global Preformed Firestop Devices Market by Region in 2023; thereby, achieving a market value of $183.4 million by 2031. The Europe region is poised to grow at a CAGR of 5.6% during (2024 - 2031). Additionally, The Asia Pacific region would witness a CAGR of 6.4% during (2024 - 2031).
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