About Fire Suppression System
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.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 7.2% |
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. Analyst at AMA Research estimates that European Players will contribute the maximum growth to Global Fire Suppression System market throughout the forecasted period. Established and emerging Players 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 (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 coverage 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).
Segmentation Overview
AMA Research has segmented the market of Global Fire Suppression System market by Type (Fire Suppression, Fire Response, Fire Sprinkler System, Fire Analysis and Fire Detection), 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 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). If we see Market by Service, the sub-segment i.e. Maintenance Services will boost the Fire Suppression System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing human and property loss due to fire breakouts and Growth in the construction industry
Market Growth Drivers:
High Demand due to Stringent Government Regulations and Mandates and High Adoption from wireless technology in fire detection
Challenges:
Integration of user interfaces with fire protection solutions
Restraints:
The Concern related to High Initial Expenditure and set up challenges
Opportunities:
Increasing Demand for the water mist systems and Periodic revision of regulatory compliances
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.
Key Target Audience
Manufacturers Suppliers and Distributors, Venture Capitalists and Private Equity Firms, New Entrants/Investors, Strategic Business Planners, Government Regulatory, Research Organizations and End-Use Industries
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.