Fire Suppression System Market Scope
Integration of smoke detectors with IoT and big data will help to boost the global Fire Suppression System market in the forecasted period. Fire suppression systems are used to prevent or extinguish fires in buildings. General fire suppression agents or media are water, foam, carbon dioxide, steam, inert gases, and dry chemical powders. According to the World Bank, in 2018, the construction industry spending worldwide amounted to USD 11.4 trillion. Construction expenditures are expected to reach USD 14 trillion in 2025. These factors are expected to boost the sales of fire suppressors.
The Fire Suppression System market study is segmented by Type (Fire Suppression, Fire Response, Fire Sprinkler System, Fire Analysis and Fire Detection), by Application (Commercial [Academia and Institutional, Retail, Healthcare, Hospitality, Banking, Financial Services, and Insurance (BFSI)], Oil, Gas, and Mining, Manufacturing, Transportation & Logistics, Energy & Power, Residential, Government and Others) and major geographies with country level break-up.
The Fire Suppression Systems Market is moderately competitive and consists of several major players. In terms of market share, few of these players currently dominate the market. Major players are concentrating on product developments and the introduction of advanced technologies in the existing product lines to gain a competitive advantage. Research Analyst at AMA estimates that European Players will contribute to the maximum growth of Global Fire Suppression System market throughout the predicted period.
Johnson Controls (Ireland), United Technologies (United States), Honeywell (United States), Siemens (Germany), Halma (United Kingdom), Robert Bosch (Germany), Hochiki (Japan), Gentex (United States), Minimax Viking (Germany) and Securiton (Switzerland) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Encore Fire Protection (United States), Fire Suppression (United Kingdom), Schrack Seconet (Austria), Napco Security Technologies (United States), VFP Fire Systems (United States), S&S Fire Suppression Systems (United States), Fireline (United States), ORR Protection (United States), Argus Fire Protection Company (United Kingdom) and Firetrol Protection Systems (United States).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
AdvanceMarketAnalytics has segmented the market of Global Fire Suppression System market by Type, Application and Region.
On the basis of geography, the market of Fire Suppression System has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
Oct 2019 - Marioff delivered and commissioned a HI-FOG® high-pressure water mist suppression system for the new Päijät-Häme Central Hospital. The HI-FOG system will protect the entire building, which spans 33,600 square meters and is supplied with a HI-FOG Electric Pump Unit (EPU) and 2,300 sprinklers.
June 2019 - Fike Corporation, launched 3MTM Novec TM 1230 Fire Protection Fluid in its patented Impulse Valve Technology fire suppression system. 3M Novec 1230 fluid is waterless, discharged as a gas, leaves no residue, and is electrically non-conductive, making it an ideal solution for quickly extinguishing fires in spaces occupied by electronics or irreplaceable assets and where business continuity is critical.
- Growing human and property loss due to fire breakouts
- Growth in the construction industry
- High Demand due to Stringent Government Regulations and Mandates
- High Adoption from wireless technology in fire detection
- Increasing Demand for the water mist systems
- Periodic revision of regulatory compliances
- The Concern related to High Initial Expenditure and set up challenges
- Integration of user interfaces with fire protection solutions
Frequently asked questions:1. Is it possible to have certain customization in the study?
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a study that suits your business objectives.
2. How big is the Fire Suppression System Market?
Yes, the study does represent market size by key business segment, application/end users and major geographies forecasted till 2025.
3. What is expected growth rate?
According to AMA, the Global Fire Suppression System market is expected to see growth rate of 7.2%.