Firestop Cable Transit System: Market Outlook
Firestop cable transit system is a mechanical pipe and cable sealing system used to protect or seal off cables from fire, water, smoke and blast pressures at the entry/through points in building walls and floors. Firestop cable transit systems protect the building or equipment infrastructure by preventing the spread of possible fire and gas leaks. These systems usually contain modules, seals/plug seals enclosed in a structural frame or sleeve along with few other accessories like wedge puller, anchor plates, wedge compression kits and module squeezers. Hazardous environments and operations that are prone to fire accidents have high demand for firestop cable transit systems. Hence, applications like oil & gas, chemical plants, refineries, offshore platforms, wind farms, solar farms and marine widely use firestop cable transit systems. Measures for preserving human life and the need to avoid accidents at workplace are the biggest factors impacting the firestop cable transit system market.
Firestop Cable Transit System: Market Dynamics
Firestop cable transit system are complex yet simple solutions to provide protection from hazardous accidents in industrial operations. Oil & gas, petrochemicals and power generation industries are some of the highly accident prone industries given the nature of operations involved. Given the unpredictability nature of operations in these industries, there is a great need for installing measures to avoid incidents that can cause collateral damage and harm to human life. This is expected to be one of the main drivers impacting the growth firestop cable transit system market. Casted mounted firestop cable transit systems have been a prominent trend among commercial buildings, which integrate the complete system into walls and floors, while welded and bolted are more preferred in industrial operations.
Complex installation procedures, high entry barrier and limited aftermarket for accessories are some of the concerns plaguing the firestop cable transit system market. However, given the irreplaceable nature of the products, the firestop cable transit system market is expected to flourish in the coming years.
Firestop Cable Transit System: Market Segmentation
The overall firestop cable transit system market can been segmented on the basis of components as:
The overall firestop cable transit system market can been segmented on the basis of mounting type as:
The overall firestop cable transit system market can been segmented on the basis of installation structure as:
The overall firestop cable transit system market can been segmented on the basis of application as:
Firestop Cable Transit System Market: Regional Outlook
Europe and North America are heavily driven by stringent government regulations to implement safeguarding procedures at workplace to protect employees. These two regions are market leaders in the number of industries in power generation, oil & gas and petrochemicals industries. This coupled with strict regulations imposed by government, greater concern for human life and the drive to safeguard operational equipment in the region is expected to peg Europe and North America as market leaders in the global firestop cable transit system market. Incremental growth in the number of end use industries in China and India, owing to rapid industrialization in the region is expected to drive the firestop cable transit system market growth in the region at a rapid pace. Latin America and MEA are expected to create mediocre demand for firestop cable transit system, but are expected to grow at a healthy pace in the coming years.
Firestop Cable Transit System Market: Market Participants
Some of the key market participants identified in the Firestop cable transit system market across the globe are:
Brief Approach to Research
The research report presents a comprehensive assessment of the Firestop cable transit system market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to Firestop cable transit system market segments such as geographies, application and industry.
The report covers exhaustive analysis on:
Regional analysis includes:
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with Firestop cable transit system market attractiveness as per segments. The report also maps the qualitative impact of various market factors on Firestop cable transit system market segments and geographies.