Fire Suppression Market - 150 million units annual installation in U.S. by 2024

Industrial Fire Suppression Market will witness more than 3% CAGR from 2017 to 2024 impelled by ongoing expansion of industrial base.

OCEAN VIEW, Del., Nov. 9, 2017 /PRNewswire-iReach/ --  

Global Fire Suppression Market is set to be valued USD 16 billion by 2024, as reported in the latest study by Global Market Insights, Inc. Stringent government regulations towards public safety along with growing consumer awareness will drive the fire suppression market size.

Growing commercial floorspace along with introduction of safety codes and standards will stimulate the product penetration.  As per American Chemistry Council, the fire codes set by NFPA and IFC states that all areas with upholstered furniture including healthcare facilities and educational institutes must have sprinkler system installed.

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Growing awareness toward the adoption of fire protection systems to mitigate the hazards and accidents will foster the fire suppression market share. Introduction of green buildings in Europe coupled with stringent safety regulations will fuel the business growth. As per European Commission, 70,000 people are hospitalized due to severe injuries caused by fire with an estimated damage of USD 148.6 billion every year.

Rapid industrialization across developing economies along with increasing demand for safety equipment will drive the global fire suppression market. Ongoing investments across Asia-Pacific and Africa towards the expansion of industrial, commercial and residential establishments will boost the product demand. As per Central Banks and Governments' statistics bureau, investments across Asia Pacific for the development of Industrial sector was USD 10.6 billion in 2016.

Germany fire suppression market is set to experience substantial growth on account of enhancement and improvisation of safety standards. As per European Commission, in Germany, any office or residential building with height of over 60 m must be provided with two stair cases as a safety exit and a sprinkler system must be installed to meet the safety standards.

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China fire suppression market is set to witness growth over 3% by 2024. Expansion of industrial and commercial sector along with growing measures to reduce the fire accidents will positively influence the business landscape. In 2015, China surpassed the U.S. as the world's major safety and security products market with an annual rise of 10.8%.

Saudi Arabia fire suppression market in 2016 was valued over 150 million. Ongoing O&G projects along with expansion and establishment of other available industries will boost the demand for suppression systems. In 2015, number of operating industrial units have reached up to 7,007 with the investment of USD 290 billion.

Notable players in global fire suppression market include TYCO, United Technologies Corporation, Minimax, Lubrizol, Bristol Fire Engineering, Halma PLC, SFFECO, Firetronics, NAFFCO, Master Fire Preventions Ltd., National Fire Equipment Ltd. and Amerex Corporation.

Browse key industry insights spread across 300 pages with 580 market data tables & 9 figures & charts from the report, "Fire Suppression Market Size By Product (Fire Sprinkler, Fire Extinguisher {By Capacity (<5, 5-15, >15), By Chemical (Dry Chemical, Foam, Carbon Dioxide, Others)}, By End Use (Residential, Industrial, Commercial (Education, Healthcare, Retail, Logistics & Transportation, Offices, Hospitality, Others)) Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany, UK, Italy, Russia, France, Spain, China, India, Japan, South Korea, Australia, Brazil, Argentina, Saudi Arabia, UAE, South Africa), Application Potential, Competitive Market Share & Forecast, 2017 – 2024" in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/fire-suppression-market

Chapter 3. Fire Suppression Market Industry Insights

3.1. Industry segmentation

3.2. Industry landscape, 2013 - 2024

3.3. Industry ecosystem analysis

3.3.1.   Vendor matrix

3.4. Technology & Innovation landscape

3.5. Regulatory landscape

3.5.1.   U.S.

3.5.2.   Europe

3.5.3.   UK

3.5.4.   China

3.5.5.   India

3.5.6.   UAE

3.6. Europe government expenditure on public order and safety, 2015

3.7. Fire hazards and accidents landscape for the U.S., 2016

3.8. Industry impact forces

3.8.1.   Growth drivers

3.8.1.1.      North America

3.8.1.1.1.         Increasing fire hazards

3.8.1.1.2.         Stringent government norms towards fire protection

3.8.1.2.      Europe

3.8.1.2.1.           Favorable government legislations and safety standards

3.8.1.2.2.           Growing construction and refurbishment activities

3.8.1.3.      Asia Pacific

3.8.1.3.1.         Rapid industrialization and urbanization

3.8.1.3.2.         Increasing awareness towards fire protection systems

3.8.1.4.      Rest of World

3.8.1.4.1.         Increase in infrastructural spending

3.8.2.   Industry pitfalls & challenges

3.8.2.1.      Lack of consumer awareness

3.9. Growth potential analysis

3.10.          Porter's analysis

3.11.          Competitive landscape, 2016

3.11.1. Strategy dashboard

3.11.2. Mergers & acquisitions

3.12. PESTEL analysis

Browse Full TOC @ https://www.gminsights.com/toc/detail/fire-suppression-market

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Media Contact: Arun Hegde, Global Market Insights, Inc., +13028467766, sales@gminsights.com

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SOURCE Global Market Insights, Inc.



2017

Categories

Science & Tech


Tags

Gas, Utilities, Construction & Building, HVAC (Heating, Ventilation and Air-Conditioning)



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