USD 12.49 billion
Fire Sprinkler Market Size, Share, Growth Analysis, By Type(Product (Wet Sprinkler System, Dry Sprinkler System, Pre-Action Sprinkler System, Deluge Sprinkler System), By Component(Stop Valve, Alarm Valve, Fire Sprinkler Head, Alarm Test Valve), By Application(Commercial Applications (Academia & Institutional, Consumer Goods & Retail, Healthcare, Hospitality), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15F2123 |
Region:
Global |
Published Date: August, 2024
Pages:
184
|Tables:
66
|Figures:
75
Fire Sprinkler Market Insights
Fire Sprinkler Market was valued at USD 12.49 billion in 2022 and is expected to rise from USD 13.43 billion in 2023 to reach a value of USD 23.93 billion by 2031, at a CAGR of 7.49% during the forecast period (2024–2031).
The steady expansion of the worldwide fire sprinkler market is propelled by an increasing emphasis on fire safety measures and the implementation of stringent building codes. Crucial contributing factors encompass the ongoing processes of urbanization, industrialization, and the upswing in both residential and commercial construction activities. Noteworthy advancements in sprinkler technology, including the adoption of smart and environmentally friendly systems, are gaining notable traction. While North America and Europe continue to be significant markets, Asia-Pacific is emerging as a substantial player owing to swift infrastructure development. Market participants are directing their efforts towards research and development initiatives aimed at improving product efficiency and aligning with evolving safety standards. The global fire sprinkler market is poised to sustain a positive trajectory in the foreseeable future.
Market Snapshot - 2024–2031
Global Market Size
Largest Segment
Industrial
Fastest Growth
Industrial
Growth Rate
7.49% CAGR
Fire Sprinkler Market $Bn
Country Share for North America(%)
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Fire Sprinkler Market Segmental Analysis
The fire sprinkler market is segmented into type, component, application, and region. Based on type, the market is segmented into Product (Wet Sprinkler System, Dry Sprinkler System, Pre-Action Sprinkler System, Deluge Sprinkler System, Others), Services (Engineering Services, Installation & Design, Maintenance Services, Inspection & Managed Services, Other Services). Based on component, the market is segmented into stop valve, alarm valve, fire sprinkler head, alarm test valve, and motorized alarm bell. Based on technology, the market is segmented into control-mode specific application sprinklers, early-suppression fast-response sprinklers, control-mode density area sprinklers, in-rack fire sprinklers, active fire protection, and passive fire protection. Based on application, the market is segmented into Commercial Applications (Academia & Institutional, Consumer Goods & Retail, Healthcare, Hospitality, BFSI), Residential Applications, Industrial Applications (Energy & Power, Manufacturing, Oil & Gas, Mining, Transportation & Logistics), Other Applications. Based on region, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Analysis By Component
The Stop Valve segment dominates the market during the forecast period. Stop valve is a control instrument used to regulate the flow of fluids in pipe fixtures. The stop valve controls water flow and is one of the essential parts of the fire sprinkler system. As a result, it is predictable that the demand for stop valves will rise during the forecast period because of its simplicity of design, reliability in operation, and longer working life. The need for protection against fire risks would come up as more and more people are likely to engage in residential, commercial and infrastructural construction projects. Manufacturing firms operating in the fluid control industry are also investing in research and development to develop reliable stop valves, which has led to them maintaining their market supremacy.
The Alarm Valve segment is anticipated to grow at the highest CAGR during the forecasted period. Alarm Valves are used for controlling the flow of water in fire sprinkler systems. Further, it is used to open the water supply through the sprinkler heads whenever there is a fire outbreak to extinguish the fire. It prevents backflow of water from the installation through the fire pump room. Fire sprinklers and other fire protection systems employ alarm valves more often to prevent fire risks and perform rescue operations. This is because fire safety authorities have put into practice the use of alarm valves in fire sprinkler systems and therefore, the demand for such valves is expected to rise in the coming years.
Analysis By End-user
The commercial segment is the largest end-user segment of the Fire Sprinkler market, accounting for the largest revenue share of over 50% in 2023. The growth of this segment is driven by the increasing demand for fire sprinkler systems in office buildings, hotels, hospitals, shopping malls, and other commercial buildings.
The industrial segment is the second largest end-user segment of the Fire Sprinkler market, accounting for a revenue share of over 30% in 2023. The growth of this segment is driven by the increasing demand for fire sprinkler systems in factories, warehouses, and other industrial facilities.
Fire Sprinkler Market by End-user
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Fire Sprinkler Market Regional Insights
North America is the largest market for fire sprinklers, accounting for a share of over 35% in 2023. This is due to the high awareness of fire safety in the region, stringent fire safety regulations, and the increasing number of high-rise buildings and industrial facilities. Europe is the second largest market for fire sprinklers, followed by Asia-Pacific. The growth of the fire sprinkler market in Asia-Pacific is being driven by the rising disposable incomes, increasing urbanization, and growing demand for fire safety in developing countries such as China and India. Latin America and Middle East & Africa are the two smallest markets for fire sprinklers. However, these markets are expected to grow at a faster rate than the other regions during the forecast period. This is due to the increasing awareness of fire safety in these regions, and the growing investments in infrastructure development.
Fire Sprinkler Market by Region
- Largest
- Fastest
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Fire Sprinkler Market Dynamics
Drivers
- High Awareness of Fire Safety: Fire safety is crucial for residential as well as commercial structures around the world and rising awareness regarding this is projected to boost market growth in the future. The imposition of stringent building regulations and rising cases of fire incidents are also driving sales of fire sprinklers.
- Urbanization and Infrastructure Development: Governments across the world are investing in new infrastructure development to boost economic growth and this is also slated to benefit fire sprinkler market growth as fire sprinklers are an essential part of the fire safety system of the new infrastructure.
- Insurance Premium Reduction: Incentivisation of property owners with reduced insurance premiums who have good fire safety systems installed on their properties is also a factor that could uplift the demand for fire sprinklers. To gain this financial advantage more property owners are focusing on improving their fire safety.
Restraints
- High Initial Costs: Procuring and installing a fire sprinkler system is an expensive task, which is why the adoption of fire sprinklers is slated to be limited among property owners with tight budgets. This is slated to slow down market development in underdeveloped and developing economies.
- Lack of Retrofitting: Older buildings and structures can be retrofitted with fire sprinkler systems but at an exorbitantly high cost owing to the structural challenges and requirements of different materials. This is also slated to limit fire sprinkler sales in the future.
- Regulatory Variability: Fire safety regulations and building codes are widely different across various countries and this can prove to be a challenge for fire sprinkler manufacturers as they struggle to comply with them. Lack of standard fire safety laws will also hamper fire sprinkler demand.
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Fire Sprinkler Market Competitive Landscape
The global fire sprinkler market features intense competition among key players. Established companies like Tyco Fire Products, Viking Group, and Johnson Controls dominate with their wide product portfolios, extensive distribution networks, and technological advancements. Emerging players, such as Globe Fire Sprinkler Corporation and Reliable Automatic Sprinkler Co., are gaining ground through innovative solutions and strategic partnerships. Regulatory requirements and increasing awareness about fire safety continue to drive market growth. This competitive landscape fosters product innovation, price competitiveness, and market expansion efforts by companies aiming to cater to diverse industry sectors and regions.
Top Player’s Company Profiles
- Tyco International Ltd. (Switzerland)
- Honeywell International Inc. (USA)
- Johnson Controls (USA)
- United Technologies Corporation (USA)
- Siemens AG (Germany)
- Minimax Viking (Germany)
- Reliable Automatic Sprinkler Co., Inc. (USA)
- Viking Group, Inc. (USA)
- Cosco Fire Protection (USA)
- HD Fire Protect Pvt. Ltd. (India)
- NAFFCO (United Arab Emirates)
- Fireman Safety Services Pvt. Ltd. (India)
- Victaulic (USA)
- The Reliable Automatic Sprinkler Co. (USA)
- Potter Electric Signal Company, LLC (USA)
- Fire Fighting Enterprises Ltd. (UK)
- Globe Fire Sprinkler Corporation (USA)
- Speroni SPA (Italy)
- Advanced Fire Protection Services Corporation (USA)
- Automatic Sprinkler Corporation of America (ASCOA) (USA)
Recent Developments
- At a total of USD 5.1 billion, SimplexGrinnell was acquired by Johnson Controls back in January 2023. Through this strategic acquisition, Johnson Controls bolstered its presence in the Middle East and Africa region as well as the rest of the world.
- FirePro, a provider of fire suppression systems was acquired by Viking Group with an undisclosed transaction amount in February 2023. This acquisition bolstered Viking Group's market presence in the United States for the fire sprinkler business.
- Firetrace was acquired by Hochiki for a sum of USD 140 million back in March 2023. Hochiki expanded its market presence in the fire sprinkler business through this strategic acquisition.
Fire Sprinkler Key Market Trends
- Technological Advancements and Smart Sprinkler Systems: Integration of advanced technologies such as artificial intelligence and IoT sensors has resulted in the creation of smart fire sprinkler systems around the world and growing demand for systems with remote monitoring and control capabilities will boost the adoption of smart fire sprinklers in the future.
- Green and Sustainable Fire Suppression Solutions: Fire sprinkler makers are also focusing on incorporating sustainability in their products to comply with the evolving focus on sustainability around the world. Products that are less harmful to the environment as well as human health such as water mist are also being extensively used in the development of novel fire sprinklers.
Fire Sprinkler Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product type of team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, the prospects of the global fire sprinkler market appear promising, driven by an increasing emphasis on fire safety regulations and growing awareness of the importance of fire prevention measures. Factors such as urbanization, infrastructure development, and industrial expansion are expected to boost market growth. Moreover, advancements in sprinkler technology, including smart and eco-friendly systems, are likely to drive adoption. As climate change and the risk of wildfires continue to rise, demand for fire sprinklers in residential and commercial buildings is anticipated to surge. Overall, the market is poised for steady expansion, driven by safety concerns and evolving building standards.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 12.49 billion |
| Market size value in 2031 | USD 23.93 billion |
| Growth Rate | 7.49% |
| Base year | 2023 |
| Forecast period | 2024–2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Fire Sprinkler Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Fire Sprinkler Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Fire Sprinkler Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Fire Sprinkler Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Fire Sprinkler Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Fire Sprinkler Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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