Fire Suppression Market Overview:
The Fire Suppression market analysis provides a comprehensive picture of competition, including the market share and company profiles of the worldwide industry's top rivals. The research scope covers a complete analysis of the Fire Suppression Market, as well as the causes for variances in the industry's growth in various places.
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Fire Suppression Market size was valued at US$ 24.58 Bn. in 2021 and the total revenue is expected to grow at a CAGR of 5.12% from 2022 to 2029, reaching nearly US$ 36.65 Bn.
Market Scope:
To identify and collect material suitable for this study, this research study makes considerable use of secondary sources, directories, and databases, such as annual reports, press releases, journals, corporate websites, and databases.
Drivers:
As industrialization increased, there were an increasing number of fire-related accidents that led to fatalities as well as sizable monetary losses. According to statistics from the National Fire Protection Association, fire departments in the US alone extinguished 1,342,000 fires in 2016. (NFPA). 3,390 civilians perished in the fires, 14,650 were hurt, and 10.6 billion dollars' worth of property was destroyed. In 2016, there were 475,500 fire outbreaks in the US, with one civilian fire fatality occurring every two hours and 35 minutes. Therefore, there is a growing need for improved fire security systems across a range of locations to stop such losses.
Segmentation:
The market is divided based on product into three categories: fire sprinklers, nozzles, caps, and control heads; fire suppressors; and fire detectors and control panels. Wet pipe fire sprinklers use heat-activated sprinkler heads to release water that has been directly stored in the pipes. This type of fire sprinkler can activate instantly and without delay when the sprinkler heads are open. A piping system that transports nitrogen gas or compressed air instead of water is connected to a dry pipe sprinkler system. Dry pipe sprinkler systems are typically installed in locations where wet pipe systems might not be suitable. In commercial freezers, loading docks, residential attics, parking lots used for both commercial and residential purposes, and industrial warehouses, for example, these are frequently installed.
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Key Players: The key players are
• Johnson Controls
• United Technologies
• Robert Bosch
• Siemens
• Halma
• Hochiki
• Firefly
• Honeywell
• Minimax Viking
• S&S Fire Suppression Systems
• Encore Fire Protection
• Noha Norway
• Sterling Safety Systems
• Fireprotec
• Consilium AB
• Semco Maritime A/S
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Regional Analysis:
Individual market influencing elements and changes in market legislation that affect current and future market trends are also included in the regional component of the Fire Suppression market study. Current and future trends are examined to assess the entire market potential and uncover profitable trends to get a more stable footing. The geographical market assessment is based on the present environment and expected developments.
COVID-19 Impact Analysis on Fire Suppression Market: The report also includes a detailed analysis of COVID-19 on the Fire Suppression market.
Key Questions Answered in the Fire Suppression Market Report are:
- Which sub-segment had the largest share in the Fire Suppression market?
- How is the competitive landscape of the Fire Suppression market in 2020?
- Which are the key drivers impacting the Fire Suppression market growth?
- Which region holds the maximum share in the Fire Suppression market?
- What will be the CAGR of the Fire Suppression market during the forecast period (2021-2027)?
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