Dublin, Feb. 17, 2023 (GLOBE NEWSWIRE) -- The "Fire Suppression Systems: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Fire Suppression Systems Market to Reach $28.8 Billion by 2030
In the changed post COVID-19 business landscape, the global market for Fire Suppression Systems estimated at US$19.7 Billion in the year 2022, is projected to reach a revised size of US$28.8 Billion by 2030, growing at a CAGR of 4.9% over the analysis period 2022-2030.
Dry Chemical-Based, one of the segments analyzed in the report, is projected to record a 5.4% CAGR and reach US$11.8 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Water-Based segment is readjusted to a revised 4.8% CAGR for the next 8-year period.
The U.S. Market is Estimated at $5.8 Billion, While China is Forecast to Grow at 6.3% CAGR
The Fire Suppression Systems market in the U.S. is estimated at US$5.8 Billion in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$4.2 Billion by the year 2030 trailing a CAGR of 6.3% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.4% and 4.2% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 3.9% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$3.3 Billion by the year 2030.
Key Metrics
| Report Attribute | Details |
| No. of Pages | 664 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $19.7 Billion |
| Forecasted Market Value (USD) by 2030 | $28.8 Billion |
| Compound Annual Growth Rate | 4.9% |
| Regions Covered | Global |
What`s New for 2023?
- Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
Key Topics Covered:
MARKET OVERVIEW
- Drop in Construction Activity and Slowdown in End-Use Market Impacts Demand for Fire Suppression Systems Business
- COVID-19 Pandemic: A Double-Edged Sword for Fire Industry with Future Ramifications
- Competition
- Manufacturers Focus on End-to-End Support Services
- Asian Companies Seek to Expand Business Footprint
- Competitive Market Presence - Strong/Active/Niche for Players Worldwide in 2023 (E)
- Recent Market Activity
- World Brands
- Fire Safety & Security: An Introductory Prelude
- Manual & Automatic Technologies for Comprehensive Fire Safety Strategy: A Snapshot
- Fire Suppression Systems: An Introduction
- Types of Fire Suppression Systems
- Global Market Outlook
- Regional Landscape
MARKET TRENDS & DRIVERS
- Fire Safety Equipment Gain Traction as Safety and Security become Top Priorities Among Property Owners
- Rising Investments in Real Estate Projects Extend New Opportunities
- Implementation of Stringent Regulations and Policies Boost Growth
- Innovations Drive Momentum in Fire Suppression Market
- Sustainable Technologies Gain Spotlight
- Smart Systems Evolve to Rejuvenate Growth
- Next-Generation Smoke Detectors
- Fire Protection Systems Get More Potent with Amazing Innovations
- Fire Safety & Suppression Systems Become Hotter with Latest Technology Trends
- Smart Technology Innovation Takes the Fire Protection Industry by Storm
- Signage, Sensors & Communication as Key Pillars of Fire Detection System Trends
- Innovative Fire Safety Applications in Pipes
- Electrification, Automation & Integration as Mega Trends in Fire Pumps Domain
- High-Rise, Modular Buildings Drive Space-Saving Innovations in Fire Suppression Market
- IoT Gains Prominence in Fire Suppression Technologies
- Automatic Fire Extinguishing Systems Best for Heavy Machinery Protection
- Fire Suppression Systems Remain Crucial to Prevent Major Service Interruptions in Modern Data Center Operations
- Expanding Role of Fire Protection Engineering in Building Architecture Generates Opportunities
- Water Based Systems: A Prominent Market Segment
- Wet Pipe Systems Continue to Widen Audience Base
- Dry Pipe Systems Ideal for Structures Characterized by Sub-Zero Temperatures
- Design, Functional & Cost Limitations Hamper Adoption of Dry Pipe Systems
- Pre-Action Systems Gain Traction in Water-Leakage Sensitive Environments
- Deluge Sprinkler Systems for High-Hazard Sites
- Water Mist Systems Burn Bright in Fire Safety Technology Industry
- New Watermist Technologies Improve Fire Safety
- Gaseous Fire Suppression for Cleaner and Effective Suppression of Fire
- Select Gaseous Fire Suppression Agents by Mechanism Type: A Snapshot
- F-Gas Regulation Curtail HFC-based Gaseous Systems
- CO2 Systems for Fast, Highly Adaptive, Non-Damaging & Eco-Friendly Fire Suppression
- PFAS Free Foams to Increasingly Replace PFAS Based Foams in Fire Suppression Systems for Industrial Facilities
- Specialty Systems Aim to Expand Market Share
- Clean Agents Make Rapid Progress
- Emerging IoT Technologies Enhance Fire Safety in Smart Cities
- Growing Popularity of Smart Buildings Bodes Well for Modernization of Fire Safety Systems
- High Thrust on Building Automation Augments Market Prospects
- Technologies Used in Building Automation Systems (BAS) by Application Area: A Snapshot
- Growing Adoption of Smart Homes Drive Installation of Smart Fire suppression Systems
- Hospitals Integrate Fire Suppression in Building Security Mix
- Healthcare Facility Requirements Drive Demand for Advanced Systems
- Fire Suppression Systems Experience Increasing Demand in Commercial Kitchens
- Fire Suppression Systems Assume Critical Importance in Industrial Manufacturing Sites
- Warehouses & Logistics Sites Prioritize Fire Suppression to Avoid Inventory Losses
- Flammable Nature of Hydrocarbons Necessitates Fire Suppression in Oil & Gas Facilities
- Museums, Historic Buildings & Heritage Sites Extend Potential Opportunities
- Potential Opportunities in the Transportation Sector
- Major Fire Safety Risks at Ports and Docks
- Fire Suppression Systems Seek Role in the Airport Security Mix
- Education Sector: A Lucrative End-Use Sector
- Urbanization Remains a Fundamental Growth Driver
FOCUS ON SELECT PLAYERS (Total 229 Featured)
- AFEX Fire Suppression Systems
- APi Group Inc.
- Carrier Global Corporation
- Chubb Fire & Security Ltd. Kidde Fire Systems
- Marioff Corporation Oy
- Eusebi Impianti s.r.l
- Fike Corporation
- Fireboy- Xintex LLC
- Halma plc
- Hochiki Corporation
- Johnson Controls International Plc
- Jomarr Products, Inc.
- Minimax GmbH & Co. KG
- NAFFCO FZCO
- Semco Maritime A/S
- Siemens Building Technologies
For more information about this report visit https://www.researchandmarkets.com/r/ifd56u
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