News

Oct 25, 2024

Steel Fire Sprinkler Pipes Market to Grow by USD 2.43 Billion (2024-2028), AI Impact and Infrastructure Development Driving Revenue- Technavio | | news-journal.com

NEW YORK, Oct. 24, 2024 /PRNewswire/ -- Report on how AI is driving market transformation - The global steel fire sprinkler pipes market size is estimated to grow by USD 2.43 million from 2024-2028,

NEW YORK, Oct. 24, 2024 /PRNewswire/ -- Report on how AI is driving market transformation - The global steel fire sprinkler pipes market size is estimated to grow by USD 2.43 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 7.24% during the forecast period. Increasing urbanization and infrastructure development is driving market growth, with a trend towards lack of consistent mandates for retrofitting. However, instances of functionality failure of steel fire sprinkler pipes poses a challenge. Key market players include Apollo Pipes Ltd., ArcelorMittal SA, ASC Engineered Solutions, Atkore Inc., Bull Moose Tube Co., Engineered Fire Piping, Hi Tech Pipes Ltd., InfraBuild Trading Pty Ltd., Johnson Controls International Plc., LINHUI, Mueller Industries Inc., Nucor Corp., Southern Steel Berhad, Tata Steel Ltd., Tenaris SA, Tianjin Profound Multinational Trade Co. Ltd., Victaulic Co., World Iron and Steel Co. Ltd, and Zekelman Industries.

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report.

Steel Fire Sprinkler Pipes Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 - 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 7.24%

Market growth 2024-2028

USD 2430 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

6.31

Regional analysis

APAC, North America, Europe, Middle East and Africa, and South America

Performing market contribution

APAC at 46%

Key countries

US, China, Germany, UK, and India

Key companies profiled

Apollo Pipes Ltd., ArcelorMittal SA, ASC Engineered Solutions, Atkore Inc., Bull Moose Tube Co., Engineered Fire Piping, Hi Tech Pipes Ltd., InfraBuild Trading Pty Ltd., Johnson Controls International Plc., LINHUI, Mueller Industries Inc., Nucor Corp., Southern Steel Berhad, Tata Steel Ltd., Tenaris SA, Tianjin Profound Multinational Trade Co. Ltd., Victaulic Co., World Iron and Steel Co. Ltd, and Zekelman Industries

Market Driver

The retrofitting process of updating existing fire sprinkler systems in old buildings to meet new safety standards presents complexities in the steel fire sprinkler pipes market. Inconsistent regulations across regions create complications for manufacturers and installers. For instance, in Maryland, US, the Department of Fire Marshal announced in January 2024 that there will be no enforcement for retrofitting in existing residential and commercial buildings. In contrast, Honolulu introduced new laws after a fire incident in 2017, but effective implementation has been delayed, allowing building owners and associations more time to comply. These factors will reduce the demand for steel fire sprinkler pipes and hinder market growth during the forecast period.

The Steel Fire Sprinkler Pipes market is experiencing significant growth due to increasing safety requirements in various sectors. Smart home technologies and high-rise apartments are driving demand for advanced fire detection systems and fire safety measures. Infrastructure projects, including multifamily housing, construction, and commercial buildings, are incorporating fire safety pipe systems made from materials like carbon steel, ductile iron, and galvanized steel pipes. These pipes are known for their tensile strength and resistance to corrosion, thanks to coatings like zinc rich primers and epoxy-based coatings. Fire safety laws mandate the use of fire suppressing agents transported via water in fire sprinkler systems. Seamless pipes and welded steel tubes are preferred for their durability and resistance to thermal radiation and HI-FOG technology. Fire prevention is a priority in sectors like oil and gas, mining, petrochemical, and industrial applications. Fittings and quality control are essential components of fire safety pipe systems. Flammable materials pose a risk, making fire safety a top priority.

Request Sample of our comprehensive report now to stay ahead in the AI-driven market evolution!

Market Challenges

Discover how AI is revolutionizing market trends- Get your access now!

Segment Overview

This steel fire sprinkler pipes market report extensively covers market segmentation by

1.1 Welded steel pipe- The Steel Fire Sprinkler Pipes market is experiencing steady growth due to increasing safety regulations and building codes. These pipes are essential for fire protection systems in commercial and residential structures. Key players in this market include Watts Water Technologies, Tyco International, and Victaulic. They offer various types of steel pipes, such as black steel and stainless steel, to cater to diverse customer needs. The market's future looks promising, with rising demand from the construction industry and ongoing infrastructure development projects.

Download a Sample of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics

Research Analysis

The Steel Fire Sprinkler Pipes market encompasses the production and supply of fire safety pipes made from carbon steel and ductile iron. These pipes are essential components of fire protection systems, including sprinkler systems and fire suppression systems. The market caters to various industries such as oil and gas, mining, petrochemical, and the fire safety industry. Quality control is paramount to ensure the pipes meet safety standards and can transport fire suppressing agents effectively. Flammable materials and public safety are primary concerns, leading to stringent fire safety regulations. Commercial and residential developments adhere to building codes and safety requirements, necessitating high-performance buildings and materials. Outdoor installations may require galvanized steel pipes for added protection. Tensile strength and infrastructure development are also significant factors.

Market Research Overview

The Steel Fire Sprinkler Pipes Market encompasses a range of fire safety products, including pipes made of carbon steel and ductile iron, as well as fire safety fittings. These pipes are essential for protecting structures from the risk of fire, particularly in industries that handle flammable materials such as oil and gas, mining, and petrochemical. The market includes various types of sprinkler systems, such as wet pipe systems, dry pipe systems, deluge systems, pre-action systems, and HI-FOG technology, which utilizes fine water mist for faster fire suppression. Quality control is paramount in this industry, with rigorous testing and adherence to safety standards and regulations. Other technologies include thermal radiation technology and water mist technology. Seamless steel pipes and welded steel tubes offer superior corrosion resistance and durability. The market caters to both commercial and residential sectors, as well as transportation and logistics. Fire safety audits are crucial for ensuring compliance with safety requirements and building codes. Smart sensors, Internet of Things, and automation are increasingly being integrated into fire protection solutions. Corrosion resistance, durability, and safety are key considerations for infrastructure protection. The market also includes various building materials, water transport, and fire suppressing agents. Construction projects must adhere to stringent fire safety measures and laws, with seamless pipes and corrosion resistant coatings providing long-term protection.

Table of Contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation

7 Customer Landscape

8 Geographic Landscape

9 Drivers, Challenges, and Trends

10 Company Landscape

11 Company Analysis

12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email: [email protected]

Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/steel-fire-sprinkler-pipes-market-to-grow-by-usd-2-43-billion-2024-2028-ai-impact-and-infrastructure-development-driving-revenue--technavio-302285499.html

SOURCE Technavio

Originally published on the BLOX Digital Content Exchange.