The Global Market for Fire Suppression Systems is Projected to Reach US$2.4 Billion by 2022

Rising Emphasis on End-to-End Fire Safety & Tightening Regulatory Scenario to Drive Growth in the Global Fire Suppression Systems Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry trends, growth drivers, market share, size and demand forecasts on the global Fire Suppression Systems market. The global market for Fire Suppression Systems is projected to reach US$2.4 billion by 2022, driven by tightening regulations and growing emphasis on fire safety in industrial, commercial, institutional and residential structures.

Automatic fire suppression systems are fire safety equipment that use fire suppression materials such as water, watermist, gaseous agents, foam, wet agents or dry chemicals to extinguish and control the spread of fire in a structure. Available in various configurations and design formats, fire suppression systems function automatically through detectors and sensors for instantaneous suppression of fire without any human involvement. Implemented as an interconnected comprehensive system in a building or facility, automatic fire suppression systems can successfully deal with large fires occurring due to gas leaks, electrical short circuits, power supply fluctuations, boiler bursts, and Arson crimes, among others.

Fire suppression systems market, comprising water based systems, gaseous based systems and specialty systems, is poised to exhibit substantial growth in the coming years. While mandatory installation of fire safety equipment in industrial/manufacturing facilities, warehouses & distribution sites, oil & gas facilities, mining locations, commercial and large residential buildings is expected to drive market momentum, growing awareness over the benefits achieved through a comprehensive fire protection strategy will spur future deployments. Regulatory legislations and mandatory building codes such as NFPA 13 and BS EN 12845:2015, seeking comprehensive fire safety in industrial, commercial, institutional, residential buildings and general infrastructure, are expected to play a pivotal role in the future growth of the market. The market is also poised to benefit from recovering investment growth in new construction projects in both residential and non-residential segments, especially in developing nations including China and India among others. Further, availability of fire suppression systems in innovative, robust and rugged designs will also influence market expansion. The ongoing thrust towards next generation technology concepts such as building automation, smart cities and Industry 4.0, which emphasize a centralized protection system incorporated with sophisticated interconnected sensor and detection solutions, will amplify market opportunities for fire suppression systems in the coming years.

As stated by the new market research report on Fire Suppression Systems, Europe represents the largest market worldwide. Asia-Pacific ranks as the fastest growing market, demonstrating a CAGR of 7.1% over the analysis period led by factors such as positive macro-economic cues, expansion of the manufacturing base in emerging Asian countries, increased focus on occupational safety and growing policy led support for safe and healthy working environment, and increased investments in advanced building technologies against the backdrop of rising costs of non-compliance to safety regulations in the form of higher penalties and expensive legal services and guidance.

Major players covered in the report include AFEX Fire Suppression Systems, APi Group Inc., Chubb Fire & Security Ltd., Eusebi Impianti s.r.l, Fike Corporation, Fireboy®- Xintex® Inc., Halma plc, Hochiki Corporation, Johnson Controls International Plc, Jomarr Products Inc., Kidde Fire Systems, Marioff Corp. , Minimax GmbH & Co. KG, NAFFCO FZCO, Semco Maritime A/S, Siemens Building Technologies, and UTC Climate, Controls & Security, among others.

The research report titled “Fire Suppression Systems: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections in value terms for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America) and Rest of World. The report also analyzes the market by Segments – Water Based Systems, Gaseous Based Systems and Specialty Systems.

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