HVAC and Fire Protection Insulation Market Overview:
The HVAC and Fire Protection Insulation Market Size and HVAC and Fire Protection Insulation Market Share are expected to reach USD 6.78 Billion, with a CAGR growth of 7.23%.
Market Highlights
Global HVAC and Fire Protection Insulation Market is projected to grow at a high rate during the forecast period, primarily due to the increasing need for fire safety solutions and stringent government regulations. Moreover, increasing the increasing utilization of fire equipment in smart buildings and cities is expected to present a growth opportunity for the global HVAC and fire protection insulation market.
HVAC and fire protection insulation are used to protect the buildings against harsh environmental conditions such as extreme temperature conditions, dust, noise, fire, and air leakage. Proper insulation in the HVAC system also helps reduce heat gain or heat loss and provides a comfortable, safe, and healthy environment. These insulation systems also absorb the vibration generated by the system and help in preventing the spread of fire. The developments in the overall construction industry are expected to grow exponentially in the coming years, resulting in a surge in the demand for HVAC and fire protection insulation in the construction industry.
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The construction sector is one of the largest economic sectors contributing a considerable share toward the GDP. There are various building construction projects coming up. The renovation of existing buildings and new building construction in various countries of the region will witness significant investments. All these upcoming investments in the construction industry are likely to boost the growth of the global HVAC and fire protection insulation market. As per the Ministry of Commerce Industry, Government of India, the Indian construction industry is expected to become the world’s third largest by 2022. Additionally, as per the Global Construction Perspectives and Oxford Economics (UK), the global volume of construction output is anticipated to grow by 85% to reach USD 15.5 trillion by 2030, especially in the US, China, and India. In the UK, in November 2020, Kier Group plc (UK) awarded a contract worth approximately USD 125 million to build Marylebone Square located in Central London, UK. The growth in the construction industry can be attributed to the improving global economic conditions and the increasing requirement from residential, commercial, and industrial sectors, which increased the demand for HVAC and fire protection insulation in the construction industry.
MARKET SEGMENTATION
By Type
- Glass Wool
- Stone Wool
- Plastic Foam
- Others
By Application
- Ventilation Duct Insulation
- Pipe Insulation
- Others
By End-User
- Industrial
- Commercial
- Residential
Scope of the Report
This study provides an overview of the global HVAC and fire protection insulation market, tracking two market segments across three geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights the market size, and shares for North America, Europe, and Asia-Pacific. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global HVAC and fire protection insulation market by type, application, end user, and region.
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GLOBAL HVAC FIRE PROTECTION INSULATION MARKET SHARE, BY REGION, 2027
- North America:
- Europe:
- Asia-Pacific:
- Rest of the World (RoW):
KEY COMPANIES PROFILED
- Saint-Gobain (France)
- Owens Corning (US)
- Rockwell International A/S (US)
- Kingspan Group (Ireland)
- PPG (US)
- Armacell (Germany)
- Knauf Insulation (US)
- L'ISOLANTE K-FLEX S.p.A. (Italy)
- Fletcher Insulation (Australia)
- Berkshire Hathaway,Inc. (US)
- BASF SE (Germany)
- GAF (US)
- Beijing New Building Material (Group) Co.,Ltd. (China)
- Broad Group (China)
