[Latest Report] Global Fire Sprinkler System Market is expected to surpass US$ 15.2 billion by 2028 and is expected to register a significant CAGR of 6.3% during the forecast period till 2028

Increasing investment of companies to safeguard the infrastructure and to reduce the loss of life and property is the key driver of the global fire sprinkler systems market, detailed market research done by RationalStat

| Source: Rationalstat LLC Rationalstat LLC

Wilmington, Delaware, Aug. 14, 2023 (GLOBE NEWSWIRE) -- The report by RationalStat titled “Global Fire Sprinkler System Market Analysis and Forecast, 2019-2028” assesses the regional market based on basis of product, response time, hazard, technology, application, and region. A detailed market analysis report provides an overall historical and future market size in terms of Market Value (US$ Million) and Market Volume (‘000 units) with a comprehensive market trend analysis (year-on-year growth).

In addition, the report also deals with the market share analysis, growth of the industrial automation & equipment industry, an overview of the competition, strategic imperatives, plans and strategies, key applications, potential growth drivers, recent R&D of fire sprinkler systems across the globe, and competition analysis for the target players evaluated in the global fire sprinkler system market study.

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Market Overview and Dynamics

The global fire sprinkler system market is expected to grow at a moderate growth rate of around 6.3% during the forecast period 2022-2028. The major factor driving the demand for fire sprinkler systems are increasing companies' investment to safeguard the infrastructure and reduce the loss of life and property in various applications.


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Market Drivers and Trends of the Global Fire Sprinkler Systems Market

Governments of different nations are working on formulating stringent norms for the installation of fire sprinkler systems in the properties which also drives the demand for fire sprinkler systems globally. Moreover, the increase in construction and industrial areas will increase the demand for fire protection systems.

Due to stringent rules governing the installation of fire suppression systems in non-residential and residential buildings around the world, the market for fire sprinkler systems is expected to grow. In the commercial and industrial sectors, fire sprinkler systems are an essential part of fire safety. Concerns about public safety and a higher danger of property loss from fire disasters are other contributing factors to the sector's growth.

The penetration of fire sprinkler systems in the industrial sector is also expected to experience rapid growth of high risk associated with various sectors such as manufacturing, oil & gas, mining, and energy & power.

North America holds a significant share of the fire sprinkler systems market and is anticipated to dominate the global fire sprinkler systems market during the forecast period. Growing smart houses and building with innovative appliances in the US are also expected to drive the demand for the fire sprinkler systems market. Asia Pacific region has shown steady market growth due to rising urbanization and awareness in developing countries like India, China, and Japan.

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Segmental Analysis: Global Fire Sprinkler Systems Market

  • On the basis of product, the wet pipe systems should be inspected monthly to ensure that they are in good condition and that normal water supply pressure is being maintained, whereas dry, pre-action, and deluge systems should be inspected weekly to ensure that normal air and water pressures are being maintained.
  • Based on technology, Early-Suppression Fast Response (ESFR) system is dominating the global fire sprinkler systems market due to its property of covering a large area and simplifying installation.

Competition Analysis and Market Share Overview for the Global Fire Sprinkler System Market

The global fire sprinkler system market is fragmented in nature with the presence of various players and startups in the market. Companies are engaged in developing innovative technologies coupled with providing a wide range of services to drive the demand for fire sprinkler systems across the globe.

Moreover, such prominent players adopt various strategies to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers and acquisitions, product launches, partnerships, and collaborations are some of the strategies followed by prominent industry players. Some of the key developments in the global fire sprinkler system market include,

  • In January 2023, Honeywell announced that it is expanding its strategic alliance with Nexceris, developer of Li-ion Tamer lithium-ion gas detection solutions, to help make electric vehicles (EVs) safer.
    • Honeywell and Nexceris will offer advanced automotive sensing technology to help prevent conditions leading to thermal runaway in EV batteries, a phenomenon that causes extremely high temperatures within the battery cell and can result in a fire.
  • In January 2023, Johnson Controls India (JCI), in collaboration with their UK operations, has been the implementation and maintenance partner for the Heating, Ventilation and Air Conditioning (HVAC) equipment and system for INS Vikrant, India’s first indigenously designed and built aircraft carrier.

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Some of the key players operating in the global fire sprinkler systems market include,

  • Johnson Controls International
  • Eaton Corporation plc
  • Robert Bosch GmbH
  • Agni Devices Pvt. Ltd
  • Honeywell International Inc
  • Tokyo Hochiki Co., Ltd.
  • Kauffman Co.
  • Emerson Electric Co.
  • McWane, Inc.
  • Globe Fire Sprinkler Corp.
  • and Siemens Industry Software Inc. among others.

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RationalStat has segmented the global fire sprinkler system market on the basis of product, response time, hazard, technology, application, and region.

  • Global Fire Sprinkler System Market Value (US$ Million), Volume (‘000 Units), and Market Share (2019-2028) Analysis by Product
    • Wet pipe Sprinkler Systems
    • Dry pipe Sprinkler Systems
    • Pre-action Sprinkler Systems
    • Deluge Sprinkler Systems
    • Water-mist Systems
    • Standpipe System
    • Clean Agent System
  • Global Fire Sprinkler System Market Value (US$ Million), Volume (‘000 Units), and Market Share (2019-2028) Analysis by Response Time
    • Standard (RTI: 50 or less)
    • Quick (RTI: 80 or more)
  • Global Fire Sprinkler System Market Value (US$ Million), Volume (‘000 Units), and Market Share (2019-2028) Analysis by Hazard
    • Light Hazard (16-20ft) (areas with low concentrations of flammable materials)
    • Ordinary Hazard (12-20ft) (areas with moderate concentrations of flammable materials)
    • Extra Hazard (14-15 ft) (areas with a high concentration of flammable materials)
  • Global Fire Sprinkler System Market Value (US$ Million), Volume (‘000 Units), and Market Share (2019-2028) Analysis by Technology
    • CMSA: Control-mode special application sprinkler
    • ESFR: Early-suppression fast-response sprinklers
    • CMDA: control-mode density area sprinklers
    • In-rack fire sprinklers
  • Global Fire Sprinkler System Market Value (US$ Million), Volume (‘000 Units), and Market Share (2019-2028) Analysis by Application
    • Commercial
    • Industrial
    • Residential
    • Government and Institutional
    • Others
  • Global Fire Sprinkler System Market Value (US$ Million), Volume (‘000 Units), and Market Share (2019-2028) Analysis by Region
    • North America Fire Sprinkler Market
      • US
      • Canada
    • Latin America Fire Sprinkler Market
      • Brazil
      • Mexico
      • Rest of Latin America
    • Western Europe Fire Sprinkler Market
      • Germany
      • UK
      • France
      • Spain
      • Italy
      • Benelux
      • Nordic
      • Rest of Western Europe
    • Eastern Europe Fire Sprinkler Market

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About RationalStat LLC

RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports along with customized strategy and consulting studies.  The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.

RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client’s needs. Additional services offered by the company include consumer research, country reports, risk reports, valuations and advisory, financial research, due diligence, procurement and supply chain research, data analytics, and analytical dashboards.

Research Methodology

RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.

RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:

  • Defining the problem by understanding the type of market and data required by the client.
  • Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
  • Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
  • Evaluating and analyzing the data by referring to data sources utilized and leveraged.
  • Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.

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