USD 20.50 billion
Fire Suppression System Market Size, Share, Growth Analysis, By Product(Fire Extinguisher, Fire Sprinkler), By Fire Extinguisher(Gas, Water, Dry Chemical Powder, Others), By Application(Commercial, Industrial, Residential), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15E2389 |
Region:
Global |
Published Date: March, 2024
Pages:
184
|Tables:
90
|Figures:
76
Fire Suppression System Market Insights
Global Fire Suppression System Market size was valued at USD 20.50 billion in 2022 and is poised to grow from USD 21.53 billion in 2023 to USD 31.80 billion by 2031, growing at a CAGR of 5.00% during the forecast period (2024-2031).
The expansion of the market is predicted to be propelled by the escalating significance of adhering to fire safety regulations in various contexts, including high-rise structures, industrial environments, and commercial sectors. The advent of the COVID-19 pandemic has significantly transformed the business landscape not just for 2020, but for the forthcoming years across diverse sectors. Despite this paradigm shift, the mounting occurrences of fire-related incidents and the deepening concerns regarding safety have positioned the industry for notable growth throughout the projected time frame.
The upsurge in fire-related events has presented alluring opportunities for the integration of these systems within both commercial and residential spaces. In the United States, the demand for fire suppression equipment, particularly fire sprinklers, is forecasted to rise across industrial sectors like energy, manufacturing, and oil & gas. This is due to the inherently high fire risks associated with materials such as crude oil, coal, petroleum, and inflammable gasses that are widely employed within these industries. Amplified purchasing power of consumers, coupled with governmental and regulatory agencies' amplified focus on elevating the overall fire safety benchmarks of buildings within the region, is anticipated to contribute to the surge in product demand.
Consequently, this trend is poised to fuel the regional market's expansion over the projected period. Moreover, the mounting construction activities in the U.S. and a substantial emphasis on modernizing sprinkler systems are projected to drive the market's growth trajectory. For instance, according to Construct Connect, the U.S. witnessed a total construction growth of 8.8% and residential construction growth of 6.7% in 2021, further bolstering the demand for these products
US Fire Suppression System Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Industrial
Fastest Growth
Industrial
Growth Rate
5.00% CAGR
Global Fire Suppression System Market ($ Bn)
Country Share for North America Region (%)
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Fire Suppression System Market Segmental Analysis
The global fire suppression system market is segmented on the basis of product, type, application, region. By product, the market is segmented into fire extinguisher, fire sprinkler. By fire extinguisher type, the market is segmented into gas, water, dry chemical powder, others. By application, the market is segmented into commercial, industrial, residential. By region, the market is segmented into North America, Europe, Latin America, Asia- Pacific, Middle East and Africa.
Fire Suppression System Market Analysis By Fire Extinguisher
The dry chemical powder category led the sector in 2022, commanding the largest portion of global revenue at over 37.15%. The ascendancy of dry chemical powder fire extinguishers is fueled by heightened awareness among end-users regarding their advantages. These extinguishers have gained popularity due to their versatility in combating various fire types and their convenient storage, eliminating the need for pressurized equipment.
Meanwhile, the water segment is anticipated to exhibit a consistent CAGR throughout the forecast period. Advances in water extinguisher technology are set to underpin segmental expansion. Among these advancements is the water mist system, which optimizes water use by dispersing it in mist form. Other fire extinguisher segments encompass wet chemical and foam varieties.
Fire Suppression System Market Analysis By Application
In 2022, the industrial segment spearheaded the market, commanding a substantial 49.10% share of the global revenue. This segment encompasses fire suppression systems that find application in diverse industrial settings like manufacturing plants, warehouses, storage facilities, and data centers. The surge in industrial complex expansion and the perpetual evolution of fire safety regulations worldwide are poised to exert a significant influence on the global appetite for fire suppression systems. A case in point is the U.S. Government's introduction of the America Creating Opportunities for Manufacturing, PreEminence in Technology, and Economic Strength (COMPETES) Act in February 2022. This legislation centers on providing funding to domestic small- and medium-sized manufacturing enterprises and reinvigorating the manufacturing landscape in the country.
Concurrently, the residential segment is anticipated to exhibit a steady CAGR over the forecast period. A global surge in awareness regarding fire safety protocols pertinent to residential settings is anticipated to fuel demand for fire suppression systems tailored to residential buildings. Simultaneously, the amplifying emphasis on fire safety protocols and regulatory compliance in commercial establishments is projected to galvanize growth within the commercial segment.
Global Fire Suppression System Market By Application
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Fire Suppression System Market Regional Insights
In 2022, North America took the lead in the industry, commanding a significant 36.9% share of the global revenue. The region's forward trajectory is propelled by the escalating production endeavors in offshore domains and robust exploration activities, set to provide continued impetus to the regional market across the forecast period. Moreover, recent oil and gas initiatives within the area are poised to exert a positive influence on the market's trajectory in the forthcoming years.
Across Europe, the economy is anticipated to experience gradual expansion, buoyed by strategic measures like the European Green Deal and the Horizon 2020 program, initiated by the government. Factors such as escalating wages, consistent job creation, and augmented public spending, especially directed towards digital and transportation infrastructure, are collectively expected to contribute positively to the region's economic growth. Concurrently, private investments, particularly within the construction sector, are projected to act as drivers of economic expansion.
Meanwhile, Asia Pacific is set to witness the swiftest Compound Annual Growth Rate (CAGR) from 2023 to 2030. This growth is underpinned by an upsurge in fire safety awareness among end-users and a pronounced upswing in construction endeavors within burgeoning economies like India and China. Furthermore, the escalating demand for intelligent home automation systems and smart buildings, renowned for providing optimal security and safety, is predicted to bolster product adoption within the region.
In the Middle East, the governmental focus on curbing dependency on the energy sector, coupled with the drive to enhance domestic production output in key industrial sectors like petrochemicals and chemicals, augments the projected usage of these products. As North America, Europe, Asia Pacific, and the Middle East each contribute unique growth dynamics, the global fire suppression systems market evolves as a landscape shaped by diverse regional trends and opportunities.
Global Micro Inverter Market By Geography
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Fire Suppression System Market Dynamics
Fire Suppression System Market Drivers
Stringent Fire Safety Regulations
- Growing emphasis on fire safety and the enforcement of strict regulations in industries, commercial spaces, and residential areas are compelling organizations to adopt advanced fire suppression systems to comply with safety standards.
Industrial Expansion and Infrastructure Development
- The expansion of industries, particularly in energy, manufacturing, and chemicals, along with infrastructure development projects, is driving the demand for fire suppression systems to ensure safety in high-risk environments.
Smart Building and IoT Integration
- The integration of fire suppression systems with smart building technologies and the Internet of Things (IoT) is becoming a trend, enabling real-time monitoring, early detection, and automated response.
Fire Suppression System Market Restraints
Cost Factors
- The initial investment and ongoing maintenance costs of fire suppression systems can be substantial, especially for advanced technologies, hindering adoption, particularly in smaller businesses.
Complexity and Training
- Complex installation, operation, and maintenance requirements of certain fire suppression systems can pose challenges, necessitating specialized training and skilled personnel.
False Alarms
- Fire suppression systems are prone to false alarms due to various factors like environmental conditions or technical glitches, leading to business disruptions and reduced system reliability.
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Fire Suppression System Market Competitive Landscape
The competitive landscape of the global fire suppression system market is characterized by robust rivalry among key players vying to establish and expand their foothold in this critical industry. Established giants such as Tyco International Ltd., Honeywell International Inc., Siemens AG, and Johnson Controls International plc dominate with their extensive portfolios, technological expertise, and global reach. These industry leaders leverage their comprehensive offerings to cater to diverse fire safety needs across various sectors.
Innovation stands as a cornerstone within this landscape, as companies strive to introduce cutting-edge technologies that enhance system efficiency, detection accuracy, and response speed. Mergers, acquisitions, and strategic collaborations are prevalent strategies to broaden market presence, access new technologies, and tap into diverse customer bases.
Fire Suppression System Market Top Player’s Company Profiles
- Tyco International Ltd. (Switzerland)
- Honeywell International Inc. (USA)
- Siemens AG (Germany)
- Johnson Controls International plc (Ireland)
- United Technologies Corporation (USA)
- Minimax Viking Group (Germany)
- Robert Bosch GmbH (Germany)
- Fike Corporation (USA)
- Kidde Fire Systems (USA)
- Halma plc (United Kingdom)
- Amerex Corporation (USA)
- Securiton AG (Switzerland)
- Marioff Corporation Oy (Finland)
- NAFFCO FZCO (United Arab Emirates)
- The Solberg Company (USA)
- SIRON Fire Protection (Germany)
- Fireboy-Xintex LLC (USA)
- Rotarex SA (Luxembourg)
- Buckeye Fire Equipment Company (USA)
- Gielle Group (Italy)
Fire Suppression System Market Recent Developments
- In 2023, Johnson Controls announced the launch of its new line of addressable fire control panels for the global market.
- In 2023, Siemens Smart Infrastructure launched the Cerberus FIT fire protection system.
- In 2023, Eaton introduced xDetect, the latest fire alarm and detection control panel that decreases cost and installation time.
Fire Suppression System Key Market Trends
- Clean Agent Systems: Clean agent fire suppression systems that use eco-friendly gasses or chemicals are gaining popularity due to their effectiveness in extinguishing fires without leaving residue or causing harm to sensitive equipment.
- Water Mist Systems: Water mist systems, which disperse water in fine droplets, are becoming more prevalent due to their efficient cooling and extinguishing properties, making them suitable for diverse fire types.
- Integration with Building Management Systems: Fire suppression systems are increasingly integrated with building management systems, enabling centralized control, real-time monitoring, and improved emergency response.
Fire Suppression System Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global fire suppression system market analysis, the global fire suppression system market navigates a landscape shaped by a confluence of factors, ranging from stringent safety regulations and heightened awareness to technological innovations and industry expansion. With North America leading in revenue share and industrial sectors spearheading adoption, the market showcases resilience and adaptability. Europe's steady growth driven by supportive initiatives and Asia Pacific's remarkable CAGR fueled by increasing fire safety awareness and construction activities highlight regional dynamics.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 20.50 billion |
| Market size value in 2031 | USD 31.80 billion |
| Growth Rate | 5.00% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| 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 Suppression System 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 Suppression System 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 Suppression System 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 Suppression System 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 Suppression System Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Fire Suppression System 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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