Dublin, Dec. 07, 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
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 5.4% CAGR and reach US$11.8 Billion by the end of the analysis period. Growth in the Water-Based segment is estimated at 4.8% CAGR for the next 8-year period.
The pandemic has brought increased attention to fire safety and security, but it has also disrupted supply chains and operations.
In this competitive market, manufacturers are focusing on providing end-to-end support services to their customers. Asian companies are actively seeking to expand their business footprint in the global fire industry. The market for fire suppression systems is highly competitive, with key competitors vying for market share. Competitive market presence varies among players, with some having a strong presence, while others are more niche or trivial.
Recent market activity reflects ongoing developments and innovations in the fire suppression systems industry. World brands in this sector are actively engaged in meeting the evolving needs of customers and enhancing fire safety and security. Fire safety and security are of paramount importance, and various manual and automatic technologies are employed to ensure comprehensive fire safety strategies. Different types of fire suppression systems are available to address various fire hazards.
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.
What`s New?
- Special discussions on the global economic climate and market sentiment
- Coverage on global competitiveness and key competitor percentage market shares
- Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and trademarked research platform
- Complimentary updates for one year
- Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes
Key Attributes:
| 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 | $28.8 Billion |
| Compound Annual Growth Rate | 4.9% |
| Regions Covered | Global |
MARKET TRENDS & DRIVERS
- Fire Safety Equipment Gain Traction as Safety and Security become Top Priorities Among Property Owners
- Percentage Distribution of Causes of Fire: 2022
- Direct Property Damage (In US$ Billion) Caused by Fires in the US for the Years 2011-2021
- Breakdown of Structure Fires by Property Type in the US (2021)
- 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
- Completions of 200-Meter-Plus Buildings: 2010-2021
- 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
- Global Data Center Storage Capacity: Amount of Data Stored in Data Centers (in Exabytes) for the Years 2015, 2017, 2019 and 2021
- 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
- Global Smart Cities Market in US$ Billion: 2020, 2022, 2024, and 2026
- 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
- Global Smart Homes Market by Category in US$ Billion for the Years 2020 and 2022
- 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
- World Urban Population in Million and as Percentage of Total Population for the Period 1950-2050P
FOCUS ON SELECT PLAYERS(Total 229 Featured)
- AFEX Fire Suppression Systems
- APi Group Inc.
- Carrier Global Corporation
- Chubb Fire & Security Ltd.
- Eusebi Impianti s.r.l
- Fike Corporation
- Fireboy- Xintex LLC
- Halma plc
- Hochiki Corporation
- Johnson Controls International Plc
- Jomarr Products, Inc.
- Kidde Fire Systems
- Marioff Corporation Oy
- Minimax GmbH & Co. KG
- NAFFCO FZCO (UAE)
- Saudi Sicli Company
- Semco Maritime A/S
- Siemens Building Technologies
For more information about this report visit https://www.researchandmarkets.com/r/z123k7
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