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Fire Suppression Market Growth Trends & Revenue Forecast to 2024

Author : Rahul Varpe | Published Date : 2019-10-14 

Fire Suppression Market report, added by Global Market Insights, unveils the current & future growth trends of this business sphere in addition to outlining details regarding the myriad geographies that form a part of the regional spectrum of Fire Suppression industry. Intricate details about the supply & demand analysis, contributions by the top players, and market share growth statistics of the industry are also elucidated in the report.

Rapid industrialization across the developing nations coupled with growing demand for safety equipment will embellish the fire suppression market share. Ongoing investments across Africa and Asia-Pacific towards the expansion of commercial, industrial, and residential establishments will further propel the product penetration. As per the statistics bureau of Central Banks and Governments, Asia Pacific has witnessed investment of USD 10.6 billion for the development of Industrial sector in 2016.

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The U.S. Fire Suppression Market is projected to exceed 150 million units of annual installation by 2024. Technological advancement in the product design and development coupled with growing construction industry will foster the industry outlook. Rising demand for less toxic, environment friendly, new generation and automatic systems will further enhance the business growth. In the U.S., National Fire Protection Association (NFPA) has set regulations and codes to standardize the protection systems and equipment in the country.

Fire Suppression Market is predicted to exceed USD 16 billion by 2024. strict government norms towards public safety coupled with rising consumer awareness will stimulate the fire suppression industry size. Introduction of safety standards and codes along with growing commercial floorspace will further boost the product penetration. As per the American Chemistry Council (ACC), the fire codes set by IFC and NFPA states that zones with upholstered furniture must be installed with sprinkler system.

Fire suppression market in Germany is set to witness substantial growth owing to the improvisation and enhancement of safety standards. As per European Commission, offices and residential buildings with height of over 60 meters must be installed with a sprinkler system to meet the safety standards in Germany.

Global Fire Suppression Market, by Product:

  1. Fire extinguisher
  2. Fire sprinkler

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Saudi Arabia Fire suppression market was valued over 150 million in 2016 on account of ongoing oil & gas projects coupled with establishment and expansion of other available industries. In 2015, the total number of industrial units reached up to 7,007 with an investment of USD 290 billion. Growing investments toward advanced building technologies along with government regulations to reduce natural hazards will further boost the product adoption.

Key players in global fire suppression market include:

  1. United Technologies Corporation
  2. TYCO
  3. Minimax
  4. Bristol Fire Engineering
  5. Lubrizol
  6. Halma PLC
  7. Firetronics
  8. SFFECO
  9. NAFFCO
  10. Master Fire Preventions
  11. National Fire Equipment
  12. Amerex Corporation

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Global Market Insights, Inc.

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About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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