The market for fire suppression systems was valued at nearly US$ 17 Billion as of 2021, and is expected to surge Y-o-Y at a rate of 5.8% in 2022, reaching US$ 18 Billion. By the end of the forecast period 2022-2032, the market is likely to have grown 1.6x in value terms to reach US$ 30 Billion.
Fact.MR, in its latest business intelligence study, depicts the nuts and bolts of the global Fire Suppression System market. The report presents detailed information regarding the drivers, restraints, opportunities and trends affecting market growth.
Each segment along with its sub-segment is analyzed in terms of value and volume. Further, the report elaborates the market behavior of each vendor operating in the Fire Suppression System market.
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Key findings of the Fire Suppression System market study:
- Regional breakdown of the Fire Suppression System market based on predefined taxonomy.
- Innovative manufacturing processes implemented by Fire Suppression System vendors in detail.
- Region-wise and country-wise fragmentation of the Fire Suppression System market to grasp the revenue, and growth outlook in these areas.
- Changing preferences among consumers across various regions and countries.
- Factors (Positive and Negative) impacting the growth of the global Fire Suppression System market.
Key Companies Profiled
- Robert Bosch GmbH
- Gentex Corporation
- Minimax Viking GmbH
- Honeywell International
- Raytheon Technologies (United Technologies Corporation)
- Halma Plc
- Siemens AG
- Johnson Controls International
Competitive Landscape
Key fire suppression system manufacturers are leveraging approaches such as strategic collaborations, partnerships and new product launches. Toughening fire safety regulations across countries are providing opportunities for players to introduce fire suppression systems equipped with the latest technologies. Some notable developments are as follows:
- In August 2020, Robert Bosch GmbH introduced the Avenar panel 2000 and 8000 next-generation fire alarm panels. Driven by IoT, the system is fully backwards compatible with current fire alarm system components. Users can fully control the equipment via the eMatrix feature
- In January 2021, Gentex Corporation announced the acquisition of a new nanofiber sensing technology, capable of detecting a wide variety of chemicals, from explosives to VOCs, with applications across a multitude of end use industries. The initiative compliments its expertise in the commercial fire protection industry
Key Segments Covered in the Fire Suppression System Market Report
- By Product
- Fire Extinguisher
- Fire Sprinkler
- By Fire Extinguisher Type
- Gas Fire Suppression Systems
- Water Fire Suppression Systems
- Dry Chemical Powder Fire Suppression Systems
- Other Fire Extinguisher Types
- By Application
- Commercial Applications
- Industrial Applications
- Residential Applications
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Queries addressed in the Fire Suppression System market report:
- Why are the Fire Suppression System market players targeting region for increased product sales?
- What patented technologies are the players utilizing in the global Fire Suppression System market?
- Which regions are displaying the fastest growth in the Fire Suppression System market?
- What are the underlying micro- macroeconomic factors affecting the global Fire Suppression System market?
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