Global Fire Suppression Systems Market Size Analysis, 2019-2028
|REPORT ID: BKR1055
|Domain: Chemicals & Materials
|Published Date: June 2019
Global Fire Suppression Systems market size is estimated to be valued over USD 18.8 billion in 2019 and will register a CAGR of 4.3% to create high revenue opportunity for industry players during the forecast period.
Fire suppression systems demand is increasing with technological advancement and stringent regulatory norms mandating installation at requisite sites. These systems uses materials such as water, gaseous agents, watermist, foam, wet agents or dry chemicals to control the spread of fire in various premises. Office complexes as well as residential houses are also seen installing fire suppression systems. One major factor driving the demand is emergence of housing societies. In developing regions, majority of houses are managed independent. This structure is changing with rise in population, higher urbanization rate, leading to emergence of apartment based societies. As per the estimates, there are over 51 million apartment in North America. China has the highest apartment in world. In 2017, around 7.1 million new apartments were sold. This is expected to continue its momentum throughout the forecast period. Another key destination – India – is expected to witness high sales of apartment in another ten years. This is largely attributed to urbanization and government initiatives towards providing housing for below poverty line population. Several such initiatives can be seen worldwide. This will largely boost the fire suppression systems market worldwide.
Regulatory measures also plays a key role in overall sales of fire suppression systems. For instance, in 2018, EU mandated the installation of fire suppression systems in engine compartment of new Class III buses and coaches. Technological advancement is another key factor boosting fire suppression systems sale. Emergence of smart cities, interconnected sensors has created favorable ecosystem for product sales.
Global Fire Suppression Systems Market Size and Forecast: Regional Analysis
Globally, Western Europe dominated the global share in 2018. The region is expected to account for 37% of global share in 2019. Germany, UK and France are key countries accounting for majority of the share in Western Europe. Stringent regulations has played a key role in overall implementation of these systems. Asia Pacific is rated as the fastest growing market worldwide. The region is expected to register a CAGR of 6.5% during the forecast period. Growth in Asia Pacific is attributed to rising construction activities.
Global Fire Suppression Systems Market Size and Forecast: Competition Landscape
Industry players are emphasizing on product innovation to stay agile and generate high ROI.
Key Fire Suppression Systems players are:
- Siemens Building Technologies
- NAFFCO FZCO
- Hochiki Corporation
- APi Group Inc.
- Eusebi Impianti s.r.l
- Semco Maritime A/S
- Halma plc
- Fike Corporation
- Johnson Controls International Plc
- AFEX Fire Suppression Systems
- Minimax GmbH & Co. KG
- Jomarr Products, Inc.
By Product Type:
- Fire Detection Systems
- Fire Management Systems
- Fire Response Systems
By End-use Industry:
- Automotive and Transportation
- Energy and Power
- Residential Complex
- Commercial Complex
What Will You Discover in the Report?
- An in-depth analysis of the Fire Suppression Systems market across regions – North America, Latin America, Western Europe, Central and Eastern Europe, Asia Pacific, Middle East, and Africa.
- How the Fire Suppression Systems market sales is expected to grow throughout the forecast period.
- How geopolitical policies and technological changes will affect the Fire Suppression Systems market in near future
- Where the stakeholders should invest to generate higher profit margins
- How consumers (end-users) will reflect to the Fire Suppression Systems industry during the forecast period
- Who are the Fire Suppression Systems industry leaders and what are the key initiatives taken by them for long term growth
Who will benefit from the Report?
- Fire Suppression Systems Industry Suppliers
- Fire Suppression Systems Industry Manufacturers
- Consultants and Analysts
- Industry Specialists
Analyst access with Bekryl Market Analysts
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