Dublin, Aug. 15, 2024 (GLOBE NEWSWIRE) -- The "Australia Fire Doors Market 2023-2029 Share, Trends, Value, Analysis, Outlook, Forecast, Growth, Industry, Companies, Size & Revenue: Market Forecast by Mechanism, By Product Type, By Application, By Mode of Application and competitve landscape" report has been added to ResearchAndMarkets.com's offering.
The Australia Fire Doors market experienced growth driven by an escalating demand for fire safety products, due to the implementation of stricter building codes and a thriving construction sector.
Total construction activities in Australia amassed revenues exceeding $350 billion in 2019, with commercial construction projects, including industrial and hospitality sectors, experiencing a noteworthy 4.3% increase since 2018. However, the year 2020 brought challenges as the COVID outbreak led to government-mandated lockdowns, disrupting supply chains and economic slowdown in 2020 resulting in a decline in GDP by -0.1 per cent that adversely impacted the Australia Fire Doors market.
Despite these setbacks, the market has rebounded positively with the resumption of paused projects and the realization of pent-up demand, particularly fueled by the upswing in infrastructure projects.
The Australia Fire Doors Market size is projected to grow at a CAGR of 3.4% during 2023-2029. The Fire Doors market is anticipated to experience substantial growth in the upcoming years, propelled by the flourishing construction and infrastructure sector, including the construction of commercial buildings like the 59-storey Sydney hotel tower - a $700 million project - and various mixed-use development initiatives such as the Emerald City in 2023 and the Ivanhoe Estate Town Centre scheduled between 2023 and 2025.
As per the Australian Construction Industry Forum (ACIF), Infrastructure Construction has continued to grow by 3.8% in 2022-23, which is mainly due to infrastructure development programs pursued by the government and its plan as per budget 2022-23 to make an infrastructure investment of $4.4 billion in over four years period till 2025-26 to sustain a smooth construction activity, which in turn would propel the demand for fire Doors in Australia. These factors stimulate the Australia fire Doors market growth.
Market Segmentation by Mechanism
The swinging segment is poised to achieve the highest growth rate in the Australia fire Doors industry in the coming years. This is primarily due to the versatility, ease of egress, durability, and lower maintenance requirements associated with swinging fire Doors. Their alignment with safety standards positions them favourably for widespread use across various commercial, industrial, and institutional applications.
Market Segmentation by Product Type
The dominance of the interior doors segment in the market is expected to grow due to the increasing emphasis on safety regulations and compliance with building codes. This is particularly evident in major infrastructure projects like the Construction of Western Sydney Airport, which involves a significant investment of $3.5 billion. Interior fire doors play a crucial role in creating fire-resistant zones, protecting lives by delaying the spread of fire and facilitating safe evacuation for passengers.
Market Segmentation by Application
In the Australia fire Doors market, the non-residential building segment dominates the revenue share, fueled by a substantial demand for fire doors in locations such as hospitals, schools, and office buildings. This preference is influenced by the frequent occupancy of non-residential buildings by large numbers of people, highlighting the paramount importance of fire safety in such environments. Moreover, upcoming hotels and office construction projects such as 59-storey Sydney Hotel Tower, 360 Queen Street Office Tower, would further boost the fire Doors market across the country
Market Segmentation by Mode of Application
Australia's construction sector anticipates a positive outlook in the upcoming years, marked by the initiation of a significant number of 5,500 infrastructure projects from 2021-22 to 2025-26. These projects hold a significant value of approximately $647 billion, representing around 57% of the country's estimated construction market during the same timeframe.
Key Attractiveness of the Report
- 11 Years of Market Numbers.
- Historical Data Starting from 2019 to 2022.
- Base Year: 2022
- Forecast Data until 2029.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
Key Highlights of the Report
- Australia Fire Doors Market Outlook
- Historical Data and Forecast of Australia Fire Doors Market Revenues & Volume for the Period 2019 - 2029F
- Australia Fire Doors Market Evolution & Trends
- Australia Fire Doors Market Drivers & Restraints
- Australia Fire Doors Market Porter's Five Forces
- Australia Fire Doors Market Industry Life Cycle
- Historical Data and Forecast of Australia Fire Doors Market Revenues, By Mechanism for the Period 2019 - 2029F
- Historical Data and Forecast of Australia Fire Doors Market Revenues, By Product Type for the Period 2019 - 2029F
- Historical Data and Forecast of Australia Fire Doors Market Revenues, By Application for the Period 2019 - 2029F
- Historical Data and Forecast of Australia Fire Doors Market Revenues, By Mode of Application for the Period 2019 - 2029F
- Key Performance Indicators
- Market Opportunity Assessment
- Australia Fire Doors Market Top Companies Market Ranking
- Australia Fire Doors Market Competitive Benchmarking By Technical and Operational Parameters
- Company Profiles
- Key Strategic Recommendations
Market Scope and Segmentation
The report provides a detailed analysis of the following market segments:
By Mechanism
- Sliding
- Swinging
- Folding
By Product Type
- Interior Doors
- Exterior Doors
By Application
- Residential
- Non-Residential
By Mode of Application
- New Construction
- After-market
Companies Profiled
- Firemex Pty Ltd
- Spartan Doors Pty Ltd
- ARA Group Limited
- Radiant Enterprise NSW Pty Ltd
- Protec Doors Pty Ltd
- Holland Fire Door Installations Pty Ltd
- Dortek Limited
- Hume Doors & Timber Group
- Pyropanel Developments Pty Ltd
- Complete Fire Doors Australia Pty Ltd
For more information about this report visit https://www.researchandmarkets.com/r/509yh7
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