Dublin, Jan. 25, 2024 (GLOBE NEWSWIRE) -- The "Fire Suppression Market Report: Trends, Forecast and Competitive Analysis to 2030" report has been added to ResearchAndMarkets.com's offering.
The future of the global fire suppression market looks promising with opportunities in the commercial, industrial, and residential markets. The global fire suppression market is expected to reach an estimated $30.5 billion by 2030 with a CAGR of 5.1% from 2024 to 2030. The major drivers for this market are growing significance of fire safety compliance in commercial, industrial, and high-rise buildings, increasing number of major infrastructure projects, including those for hotels and hospitals, as well as, rising spending capacity of consumers.
Fire Suppression by Segment
The study includes a forecast for the global fire suppression by type, product, application, and region.
Fire Suppression Market by Type [Shipment Analysis by Value from 2018 to 2030]:
- Gas
- Water
- Dry Chemical Powder
- Others
Fire Suppression Market by Product [Shipment Analysis by Value from 2018 to 2030]:
- Fire Extinguisher
- Fire Sprinkler
Fire Suppression Market by Application [Shipment Analysis by Value from 2018 to 2030]:
- Commercial
- Industrial
- Residential
Fire Suppression Market by Region [Shipment Analysis by Value from 2018 to 2030]:
- North America
- Europe
- Asia Pacific
- The Rest of the World
List of Fire Suppression Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies fire suppression companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the fire suppression companies profiled in this report include-
- Gentex
- Halma
- Hochiki America
- Honeywell International
- Robert Bosch
- Siemens
- Minimax USA
Fire Suppression Market Insights
The publisher forecasts that dry chemical powder will remain the largest segment over the forecast period because of the growing awareness among end-users about the advantages of the product, along with its ability to handle different kinds of fires and easy storage without the need for pressurized equipment.
North America will remain the largest region over the forecast period due to supportive government plans and growing demand for better safety products, strict government policies and norms toward safety across industrial, commercial, and residential sectors, along with the adoption of smart building technologies in this region.
Features of the Global Fire Suppression Market
- Market Size Estimates: Fire suppression market size estimation in terms of value ($B).
- Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
- Segmentation Analysis: Fire suppression market size by type, product, application, and region in terms of value ($B).
- Regional Analysis: Fire suppression market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
- Growth Opportunities: Analysis of growth opportunities in different type, product, application, and regions for the fire suppression market.
- Strategic Analysis: This includes M&A, new product development, and competitive landscape of the fire suppression market.
- Analysis of competitive intensity of the industry based on Porter's Five Forces model.
For more information about this report visit https://www.researchandmarkets.com/r/2ouyyk
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