NEWARK, Del, May 10, 2023 (GLOBE NEWSWIRE) -- The fire sprinkler system market is predicted to be worth US$ 12,973.4 million in 2023 and rise to US$ 22,695.8 million by 2033. The global industry was expanding at a CAGR of 5.4% from 2018 to 2022.
The market has gained popularity from the expansion of the residential and commercial construction sectors. This trend is likely to increase demand for fire sprinkler systems. Another factor influencing the fire sprinkler system adoption globally is the creation of stringent criteria for the installation in buildings. This is being worked on by governments from different nations.
The primary issues preventing the industry from expanding are the expensive cost of upgrading fire sprinklers in already-existing structures, and the lack of integrity in system interfaces.
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Profitable Market Opportunity:
The products put in the building that are standardized and designed to detect the onset of a fire are the fire protection system. A smoke detector and other devices are used by the system to find and put out the fire. Real-time data is detected and tracked by the fire protection systems. The fire sprinkler system industry is going to see new opportunities through the incorporation of cutting-edge technology like AI and the IoT.
Key Takeaways:
- By 2033, the fire sprinkler system market in the United Kingdom is likely to expand, with a CAGR of 3.8%.
- In 2023, the United States is likely to dominate the fire sprinkler system sector, with a share of 21.8%.
- The fire sprinkler system market was significantly expanding, with a size of US$ 12,046.5 million in 2022.
- By 2033, the fire sprinkler system industry in China is likely to expand, with a CAGR of 6.5%.
- In 2023, Australia is projected to expand in the fire sprinkler system business, with an expected share of 1.3%.
- The market is expected to grow at a US$ 15,194.04 million valuation by 2026, with rising technologies like smart sensors.
- By 2033, India is projected to expand significantly in the fire sprinkler system sector, with a share of 7.1%.
- Japan's fire sprinkler system market share is likely to expand significantly, with a 6.2% share in 2023.
- In 2023, the commercial segment is expected to dominate the market with a leading share of 42.1%. It is anticipated to control the market by 2033 in terms of application.
- Based on product type, wet fire sprinkler systems are expected to dominate the market with a share of 29% in 2023.
Effective Approaches by Key Players:
Manufacturers of fire sprinkler systems strive to build strong distribution networks that can efficiently reach potential clients. To do this, they are collaborating with wholesalers and distributors, who help them market their products and services to customers.
Recent Developments:
- For fire sprinkler systems, Johnson Controls produced TYCO corrosion control solutions. The product helps wet and dry fire sprinkler systems last longer. Additionally, it has an in-line detector that monitors the system and transmits corrosion early warning signals.
- Plumis Inc., a firm established in the United States, provides the "Automist Smartscan Hydra" smart fire sprinkler system. This system consumes 90% less water than traditional fire sprinkler systems.
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Key Segments Profiled:
By Product:
- Wet pipe Sprinkler Systems
- Dry pipe Sprinkler Systems
- Clean Agent System
- Deluge Sprinkler Systems
- Water-mist Systems
- Pre-action Sprinkler Systems
- Standpipe System
By Response Time:
- Standard
- Quick
By Hazard:
- Light
- Ordinary
- Extra
By Technology:
- Control-mode specific application sprinkler (CMSA)
- Early-suppression fast-response sprinklers (ESFR)
- control-mode density area sprinklers (CMDA)
- In-rack fire sprinklers
By Application:
- Residential
- Industrial
- Commercial
- Government and Institutional
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East & Africa (MEA)
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Table of Content (ToC):
1. Executive Summary | Fire Sprinkler System Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.2. Scenario Forecast
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2023 to 2033
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Product, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Product, 2023 to 2033
5.4. Y-o-Y Growth Trend Analysis By Product, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Product, 2023 to 2033
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Response Time
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Response Time, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Response Time, 2023 to 2033
6.4. Y-o-Y Growth Trend Analysis By Response Time, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By Response Time, 2023 to 2033
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