Richmond, Feb. 29, 2024 (GLOBE NEWSWIRE) -- According to a research report "Fire Suppression System Market”, by System Type (Water-Based Fire Suppression Systems{Wet Pipe Systems, Dry Pipe Systems}, Gaseous Fire Suppression {Clean Agent Systems ,Inert Gas Systems}, Foam-Based Fire Suppression Systems{Aqueous Film-Forming Foam (AFFF), Protein Foam, High-Expansion Foam, Alcohol-Resistant (AR) AFF Foam, Fluoroprotein Foam, Low-Expansion Foam}, Powder-Based Fire Suppression Systems{Dry Chemical Systems, Class D Powder Systems}), End Use(Residential, Commercial{BFSI, Data Centers, Academics & Research Institutes, Retail Stores, Hospitality, Healthcare, Office Buildings, Entertainment Venues, Government Buildings, Transportation Terminals} Industrial{Manufacturing Facilities, Oil & Gas Refineries, Chemical & Petrochemical Plants, Food & Beverage Processing, Paper & Textile Mills, Others}), and Region - Global Forecast to 2030.
Global Fire Suppression System Market Report Scope:
| Report | Details |
| Market size value in 2023 | USD 23.4 Billion |
| Market size value in 2030 | USD 32.9 Billion |
| CAGR (2023-2030) | 5.0% |
| Forecast Period | 2023–2030 |
| Historic Data | 2019 |
| Forecast Units | Value (USD Million/USD Billion) |
| Segments Covered | System Type, Gaseous Fire Suppression, Powder-Based Fire Suppression Systems,Industrial and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and RoW |
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| Sample of Companies Covered |
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TOC Covers in Depth & Breath on Fire Suppression System Market
170 - Market Data Tables
65 - List of Figures
225 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
Market Overview
The global fire suppression system market continues to witness steady growth, driven by increasing awareness of fire safety measures and stringent regulatory standards across various industries. Fire suppression systems are crucial components of building infrastructure, offering protection against potential fire hazards and minimizing risks to lives and property. As businesses and governments prioritize safety, the demand for advanced fire suppression solutions equipped with smart technologies and eco-friendly agents is on the rise. The dynamics of the fire suppression system market are shaped by evolving regulatory landscapes, technological advancements, and industry-specific requirements. With growing emphasis on early detection and rapid response, there's a shift towards intelligent fire suppression systems that offer real-time monitoring, remote management, and predictive capabilities. The market features numerous regional and international players offering a diverse array of products and solutions. Opportunities for growth stem from increased awareness, advancements in technology, and supportive government initiatives. With urbanization, industrialization, and the pressing need for improved fire safety measures across sectors worldwide, the fire suppression system market is poised for continuous expansion.
Major vendors in the global Fire Suppression System Market:
- AFS-FireSafety
- Amerex Corporation
- Emerson Electric Co
- Fike
- FIREBOY-XINTEX (UNITED SAFETY & SURVIVABILITY CORPORATION)
- FirePro Systems
- Gielle Group
- Halma Plc
- Hochiki America Corporation
- Honeywell International Inc
- Johnson Controls
- Koorsen Fire & Security
- Marioff Corporation Oy (Carrier)
- Minimax USA LLC
- NAFFCO
- NOHMI BOSAI LTD
- Rotarex
- Siemens
- Victaulic Company
- Wormald Australia
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Growing Awareness of Fire Safety
The increasing awareness of fire safety plays a pivotal role as a driver for the fire suppression system market. With a greater emphasis on safeguarding lives, property, and critical assets, organizations and individuals are increasingly recognizing the importance of investing in robust fire protection measures. Heightened awareness of the devastating impact of fire incidents, both in terms of human casualties and economic losses, prompts stakeholders to prioritize proactive fire safety strategies. This awareness is particularly evident across industries such as healthcare, manufacturing, hospitality, and commercial real estate, where the risk of fire hazards is significant. Consequently, there is a growing inclination towards adopting advanced fire suppression systems that offer rapid detection, effective containment, and minimal environmental impact. As regulations become more stringent and insurance requirements stricter, the demand for innovative fire suppression solutions is expected to escalate, driving market growth and encouraging continuous advancements in fire safety technology.
Market Dynamics
Drivers:
- Growing Awareness of Fire Safety
- Rapid Urbanization and Infrastructure Development
Opportunities:
- Advancements in Fire Suppression Technologies
- Artificial Intelligence and Machine Learning Advancement in Fire Suppression System
Advancements in Fire Suppression Technologies
Advancements in fire suppression technologies present significant opportunities for the fire suppression system market. As technological innovations continue to reshape the landscape of fire safety, there is a growing array of sophisticated solutions offering enhanced efficiency, reliability, and sustainability. From the development of advanced extinguishing agents to the integration of smart sensors and IoT-enabled systems, these innovations enable more precise and effective fire detection, containment, and suppression. Moreover, advancements such as water mist systems, gas-based suppression agents, and eco-friendly alternatives address concerns about environmental impact and regulatory compliance. The emergence of artificial intelligence and machine learning further enhances predictive capabilities, enabling proactive fire prevention measures. Additionally, the integration of cloud-based monitoring and remote management platforms facilitates real-time monitoring and management of fire suppression systems, offering improved responsiveness and operational efficiency. With the increasing emphasis on fire safety across various sectors and the continuous evolution of technology, the fire suppression system market is poised to capitalize on these opportunities by offering cutting-edge solutions that meet the evolving needs of customers and regulatory requirements.
North America dominates the market for Fire Suppression System.
North America accounts for the largest revenue share in 2023 in the global Fire Suppression System Market owing to rising number of construction projects, particularly those involving new buildings. Both the US and Canada enforce strict fire safety regulations, particularly for high-rise and multi-story structures. These regulations mandate the installation of fire suppression systems, significantly impacting market demand. The continuous growth of various industries, especially those handling flammable materials or posing a higher fire risk, necessitates the adoption of advanced fire suppression systems to ensure worker safety and minimize property damage.
Asia-Pacific, region is undergoing rapid industrialization and urbanization, resulting in increased construction activities across various sectors such as manufacturing, commercial, residential, and infrastructure development. Asia Pacific hosts some of the world's largest economies, including China, Japan, India, and South Korea. Regulations mandating the installation of fire suppression systems in commercial and residential buildings, along with stringent government mandates, drive market demand. The abundance of domestic and international manufacturers and suppliers offering a diverse array of fire suppression products and solutions enhances market growth and competitiveness in the region.
The Water-based fire suppression systems Segments is anticipated to hold the Largest Market Share during the Forecast Period
Water-based fire suppression systems, comprising wet pipe and dry pipe systems, constitute a significant segment in the fire suppression system market, offering reliable and efficient protection against fires in various environments. Wet pipe systems feature pipes filled with water under constant pressure, ready to discharge immediately upon activation by a fire alarm or detection system. They are commonly used in areas where freezing temperatures are not a concern, providing quick response and effective suppression of fires. Dry pipe systems offer a similar level of protection as wet pipe systems but require additional time for water to reach the sprinkler heads once activated. Both wet pipe and dry pipe systems are essential components of fire safety infrastructure, offering versatile solutions for protecting lives and property in a wide range of settings, from residential buildings to industrial facilities and commercial spaces. As regulatory standards continue to evolve and awareness of fire safety grows, the demand for water-based fire suppression systems is expected to remain robust, driving market growth and innovation in this segment.
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