Smoke And Fire Damper Market Expected to Reach $277.6 Million by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Smoke And Fire Damper Market," The Smoke and Fire Damper Market was valued at $163.20 million in 2022, and is estimated to reach $277.6 million by 2032, growing at a CAGR of 5.5% from 2023 to 2032. 

 Smoke and fire dampers are essential components of building Heating, Ventilation, and Air Conditioning (HVAC) systems that help in improving fire safety and preventing the spread of smoke and fire within a building. In addition, smoke and fire damper are designed to restrict the flow of fire and hard gas within the building they're installed in the building partitions such as wall floor ceiling and automatically closed when exposed to high temperature or high number create a barrier compartmentalize the fire preventing its rapid spread to other areas and allowing more time to evacuation and firefight 

Rapid surge in the population globally and growth in economy have led to increase in infrastructure & development-related projects, especially in emerging economies. Thus, increase in number of residential complexes, construction of roads, and development of infrastructure, especially in emerging economies such as India, China, Bangladesh, and Africa, are expected to drive the market growth. In addition, government programs for affordable housing help boost the demand for properties, which in turn drives the growth of the market. In addition, governments and regulatory bodies around the world are continuously updating and enforcing stricter safety regulations to protect buildings and occupants from fire hazards. Smoke and fire dampers play a crucial role in preventing the spread of fire, smoke, and toxic gases through ventilation systems, thereby providing valuable time for evacuation and reducing property damage.

Growth of the residential construction industry increases the demand for smoke and fire dampers. Residential construction sector is having significant smoke and fire damper market share. For instance, article released by Global Construction and Oxford Economics has stated that the construction sector will grow by 85% to $15.5 trillion across the world by the year 2030, with three countries China, US and India, leading the way and accounting for 57% of all global growth. Hence, the expanding construction sector is one of the key drivers of the country's economic recovery, and as a result, the smoke and fire damper industry is expected to witness growth during the forecast period. In addition, the demand for construction of residential buildings and commercial projects is on the rise, owing to an increase in regulatory developments of the global population. 

Therefore, surge in residential and commercial construction activities is anticipated to drive the growth of the smoke and fire damper market. Moreover, there is a growing awareness among building owners, operators, and occupants about the importance of fire safety. People are more conscious of the potential risks associated with fire incidents and are actively seeking solutions to mitigate those risks. Smoke and fire dampers are seen as essential components of fire protection systems, leading to increased demand.

However, demand for smoke and fire dampers is driven by new construction projects or major building renovation. In established, building the retrofit market limit the growth of potential compared to new construction. As a result, the market growth rate varies depending on the level of construction activity in regions. Furthermore, while compliance with building codes and regulations is an advantage it can also present challenges for the market. Change in fire safety regulation and involving code requirements may impose additional obligation and cost on building owners.

Moreover, ensuring compliances can involve navigating complex and involving standard can be varied for some building owners and such cost variation can propel the growth of the market. In addition to new construction, there is also a significant demand for retrofitting and upgrading existing buildings to meet current fire safety standards. Many older buildings lack proper fire protection measures, including smoke and fire dampers. Retrofitting projects involve the installation of dampers to improve the fire safety of these structures, thereby driving up demand and is helping in expansion of smoke and fire damper market size.

As per the smoke and fire damper market analysis, infrastructure investment requirements are increasing significantly across the globe, particularly in developing economies. Overall, around $78 trillion is expected to be spent globally by 2025 on infrastructural development. Moreover, infrastructure spending has recovered from the global financial crisis, and is expected to grow more than $5 trillion per year by 2025. Furthermore, surge in urbanization in the emerging markets, such as Indonesia, Nigeria, and China, is expected to boost spending for infrastructural sectors such as residential houses and commercial spaces. In addition, increased adoption of smoke and fire damper offers multiple advantages such as fire contaminant, smoke control system, integration customization and flexibility testing, and less manpower requirement. All such instances are anticipated to provide lucrative opportunity for the smoke and fire damper market growth.    

Furthermore, the smoke and fire damper industry has seen technological advancements in recent years. Manufacturers are developing more advanced dampers with improved performance, durability, and ease of installation. These advancements have instilled confidence in buyers, leading to increased adoption and demand for these products.

Key Findings of The Study 

• The report provides an extensive analysis of the smoke and fire damper market forecast along with current and emerging global smoke and fire damper market trends and dynamics.  

• By type, the motorized segment was the largest revenue generator in 2022. 

• By distribution channel, the offline segment generated the highest revenue in 2022. 

• By end user, the commercial segment dominated the market in 2022.  

• Region wise, North America is anticipated to dominate the global smoke and fire dampers market throughout the study period.