About Fire Extinguishing System
Increasing technological advancements across the globe and growing inclusion of sensor systems in highly sensitive applications such as fire extinguishing. Fire extinguishing systems enable users to automatically detect the fire caused areas as well as minimize human interference which ultimately assists in minimizing demographic losses. In addition to this, the inclusion of fire alarm systems and increasing government reimbursements will create numerous opportunities for business developments. However, unexpected failures of fire extinguishing systems will encourage further research and developments in system development.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
CAGR | 7.51% |
The market is expected to increase in the coming years. The main use of a mobile hotspot router is to provide connectivity to multiple users in order to reduce the overall cost of internet services. The router can also be used while traveling, the increase in average time spent in traveling, including the time spent commuting to work and journeys have boosted the demand of mobile hotspot router market across the globe.The Manufacturers having a strong hold in the market are Johnson Controls, United Technologies (UTC), Honeywell, Siemens, and Halma. Analyst at AMA Research estimates that European Manufacturers will contribute the maximum growth to Global Fire Extinguishing System market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Johnson Controls (Ireland), United Technologies (UTC) (United States), Honeywell (United States), Siemens (Germany), Halma (United Kingdom), Robert Bosch (Germany), Hochiki (Japan), Minimax Viking (Germany), Gentex (United States) and Securiton AG (Switzerland) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Encore Fire Protection (United States), Sterling Safety Systems (United Kingdom), Fire Suppression Limited (United Kingdom), Schrack Seconet AG (Austria), Napco security technologies (United States) and VFP Fire Systems (United States).
Segmentation Overview
AMA Research has segmented the market of Global Fire Extinguishing System market by Type (Automatic Fire Extinguishing System and Non-automatic Fire Extinguishing System), Application (Construction, Vehicles and Others) and Region.
On the basis of geography, the market of Fire Extinguishing 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). North Amercia region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Fire Detection, the sub-segment i.e. Flame will boost the Fire Extinguishing System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Continues Technological Advancements and Upsurging Modernisation in the Construction Industry and Increasing Adoption of Wireless Technologies
Market Growth Drivers:
Increasing Government Reimbursements as well as Stringent Government Regulations and Upsurging Instances of Property Losses and Human Deaths
Challenges:
System Integration Complexities in Replacing Traditional Systems with Smart Detectors
Restraints:
Lack of Reliability of Fire Alarming Systems and Numerous Instances of Unexpected Failures and Significant Initial Investment and Post Purchase Maintenance of Fire Extinguishing Systems
Opportunities:
Continues Product Developments Leading to Rapid Development of Smoke Detectors
Market Leaders and their expansionary development strategies
In September 2023, ACTONE HAS announced the launch of its new range of lithium battery fire extinguishers incorporating FIREBLOCK LITHIUM, which is described as a “revolutionary gel material” offering “unique performance” when it comes to tackling lithium battery fires.
Key Target Audience
Fire Extinguishing System Manufacturers, Fire Extinguishing System Distributors and Traders, Research and Development Institutes, Government Agencies, Non-Profit Organizations, Industry Associations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.