Global Fire Suppression System Market by Application (Commercial, Industrial, Residential) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global fire suppression market was valued at USD 15.91 million in 2020. It is projected to grow at a compound annual rate (CAGR of 5.0%) between 2021 and 2028. This growth is due to increasing awareness about fire protection systems and the increased emphasis on preventing infrastructure damage and casualties from fire breakouts. One of the most important systems that can be installed in buildings and establishments is fire suppression systems. These systems are vital in protecting properties and infrastructure from fire damage. Market impact has been moderately affected by the COVID-19 pandemic, and subsequent lockdowns in various parts of the globe as part of efforts to stop the spread of coronavirus.

Particularly, the restrictions on movement have made it difficult to install fire suppression systems in various places. The supply chain disruptions have also caused delays in the installation of fire suppression equipment. Production activities were temporarily suspended. The market is expected to grow moderately over the forecast period, as restrictions are gradually eased.

Over the forecast period, there will be an increase in demand for fire suppression systems from manufacturers and incumbents in various industries. The adoption of fire safety standards is expected to be a catalyst for both residential and commercial establishments. Insurance companies are now requiring that fire suppression systems be installed before they insure any building. These systems are being installed more frequently in homes, apartments, hotels, schools and hospitals as well as offices.

Market growth is expected to be buoyed by the unabated infrastructure and construction activity, and growing awareness about fire hazards. Fire suppression systems will be pushed by aggressive infrastructure development in both developed and developing countries, including India, Japan, France and the U.K. However, technological advances are driving the demand to implement intelligent fire suppression systems.

Market growth is expected to be accelerated by the growing demand for eco-friendly fire suppression systems. Win Time Technology of Taiwan presented a new, eco-friendly fire extinguisher earlier in 2020 at the annual meeting of NoAW (No Agriculture Waste), an EU Horizon 2020 research development project. The product was widely recognized in more than 20 countries later. The market is expected to grow at a steady pace over the forecast period thanks to the increasing preference for environment-friendly fire suppression systems for newly built infrastructure.

Product Insights

The market for fire suppression systems has been further divided by product into fire extinguishers (fire sprinklers) and fire extinguishers (fire sprinklers). In 2020, the market was dominated by fire extinguishers. They accounted for more than half of the revenue. Fire extinguishers are in high demand due to technological advancements in fire safety equipment and aggressive spending on fire safety systems installation in industrial establishments. Fire extinguishers are also being demanded by government regulations that require workers to be protected from fire accidents.

Fire sprinklers are expected to experience the highest CAGR at 5.4 percent between 2021 and 2028. Fire sprinkler systems have lower installation costs, which is why this segment has grown. Fire sprinklers are preferred by establishments such as hospitals, factories, schools, commercial buildings, hospitals, and hotels. The market will see new growth opportunities over the next few years due to continuous advancements in smart home automation technology and subsequent launch intelligent fire alarm and fire detector systems that can send alerts via IP connectivity.

Fire Extinguisher Type Information

The market can be further divided by fire extinguisher type into water, gas, dry chemical powder and others. In 2020, the market was dominated by dry chemical powder with a greater than 30% revenue share. The dry chemical powder extinguishers are a non-flammable substance which can extinguish many types of fires. They form a layer and cut off the air supply. These extinguishers are more cost-effective than clean agent ones.

From 2021 to 2028, the water segment will experience the second-highest expected CAGR. Water is the most widely used fire extinguishing agent. Water is the preferred method for extinguishing fires of class A that are caused by ordinary solid combustibles such as paper, wood, plastics and plastics. Water can be used to cool the fire and penetrate into bedding and upholstery.

Application Insights

The market can be further divided into three segments based on its application: residential, commercial and industrial. In 2020, the industrial segment was the dominant market and held around 49% of all market share. The implementation of fire suppression systems within various industries and verticals is covered by the industrial segment. This includes oil and gas, transport, energy and power, manufacturing, and others. Recognizing the danger of industrial fire accidents, incumbents in these industries and verticals have been putting a lot of emphasis on installing fire suppression systems to control fires within heavy machinery. Heavy machinery requires large investments. Therefore, industrial establishment owners and operators are placing a high priority on protecting it from fire hazards. Fire suppression equipment is also required by government regulations to protect workers.

Over the forecast period, the residential segment will see the greatest CAGR. In recent years, residential fire sprinkler systems have gained significant popularity. It is expected that the residential sector will grow due to the aggressive campaigns of prominent manufacturers of fire protection equipment, and consequently the increasing awareness among end users about fire safety.

Regional Insights

North America was the dominant market, with an estimated 40% revenue share in 2020. Numerous North American governments have established strict rules and regulations that require the installation of fire suppression systems within buildings. A fire safety plan, which is based on the type and use of the building, is required for all U.S. buildings. The plan is developed according to the national, state, and provincial fire safety codes. Some of the most prominent manufacturers of fire suppression systems in America are Honeywell International Inc. and Gentex Corporation.

The highest expected CAGR for Asia Pacific over the forecast period is expected. This is due to growing awareness of fire safety and growing construction activity in emerging countries like China and India. The rising demand for intelligent homes and smart buildings, which provide maximum safety and security, will drive fire suppression systems to be adopted in Asia Pacific.

Market Share Insights & Key Companies

Market players are focused on growing their businesses, taking various strategic initiatives and implementing new growth opportunities. Market players are able to create innovative solutions that integrate the most recent technologies through aggressive research and development. Each player can increase the value of the end-deliverables through marketing strategies, innovation, R&D, and aesthetics. OEMs are in high demand due to the changing NFPA norms for FM and UL fire sprinklers being adopted in residential and industrial buildings. These players are also highly competitive in retrofitting fire sprinklers systems into existing buildings or older buildings due to regulations in healthcare, restaurants and hotels, as well as in the market for institutional fire suppression system. The following are some of the major players in the global market for fire suppression systems:

• Gentex Corporation

• Halma PLC

• Hochiki Corporation

• Honeywell International Inc.

• Johnson Controls

• Robert Bosch GmbH

• Siemens AG

• United Technologies Corporation

Up Market Research published a new report titled “Fire Suppression System Market research report which is segmented by Application (Commercial, Industrial, Residential), By Players/Companies Hochiki Corporation, Halma PLC, United Technologies Corporation, Honeywell International Inc, Johnson Controls, Siemens AG, Gentex Corporation, Robert Bosch GmbH”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Fire Suppression System Market Report Segments:

The market is segmented by Application (Commercial, Industrial, Residential).

Fire Suppression System Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Fire Suppression System Market

Overview of the regional outlook of the Fire Suppression System Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Fire Suppression System Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Fire Suppression System Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Commercial

                2. Industrial

                3. Residential

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Fire Suppression System Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
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• Product & Brand Management
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Reasons to Purchase the Fire Suppression System Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.