Global Fire Suppression Systems Market Report 2022: Market to Reach $26.6 Billion by 2027 – Rising Investments in Real Estate Projects Extend New Opportunities – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Fire Suppression Systems – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.

Global market for Fire Suppression Systems estimated at US$19 Billion in the year 2020, is projected to reach a revised size of US$26.6 Billion by 2027, growing at a CAGR of 4.9% over the analysis period 2020-2027.

Dry Chemical-Based, one of the segments analyzed in the report, is projected to grow at a 5.6% CAGR to reach US$10.8 Billion by the end of the analysis period.

After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Water-Based segment is readjusted to a revised 4.6% CAGR for the next 7-year period. This segment currently accounts for a 28.7% share of the global Fire Suppression Systems market.

The U.S. Accounts for Over 29.7% of Global Market Size in 2020, While China is Forecast to Grow at a 6.7% CAGR for the Period of 2020-2027

The Fire Suppression Systems market in the U.S. is estimated at US$5.6 Billion in the year 2020. The country currently accounts for a 29.69% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$3.8 Billion in the year 2027 trailing a CAGR of 6.7% through 2027.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.5% and 4.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.1% CAGR while Rest of European market (as defined in the study) will reach US$3.8 Billion by the year 2027.

Other Product Types Segment Corners a 32.6% Share in 2020

In the global Other Product Types segment, USA, Canada, Japan, China and Europe will drive the 4.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$4.9 Billion in the year 2020 will reach a projected size of US$6.5 Billion by the close of the analysis period.

China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$3 Billion by the year 2027, while Latin America will expand at a 4.9% CAGR through the analysis period.

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
• Innovative Fire Safety Applications in Pipes
• 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

Select Competitors (Total 332 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/mh1je3

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