Fire Sprinkler Systems Market Size, Share & Trends Analysis Report By Component (Product, Service), By Product (Wet-pipe Sprinkler, Dry-pipe Sprinkler), By End-use, By Region, And Segment Forecasts, 2023 - 2030

Fire Sprinkler Systems Market Size, Share & Trends Analysis Report By Component (Product, Service), By Product (Wet-pipe Sprinkler, Dry-pipe Sprinkler), By End-use, By Region, And Segment Forecasts, 2023 - 2030

Fire Sprinkler Systems Market Growth & Trends

The global fire sprinkler systems market size is projected to reach USD 15.11 billion by 2030 and grow at a CAGR of 8.0% from 2023 to 2030, according to a new report by Grand View Research, Inc. The market is set to experience substantial growth due to increasing reconstruction activities globally and stringent government regulations pertaining to fire safety equipment. Likewise, an increase in the number of hospitals and commercial/business centers is resulting in the high deployment of fire sprinkler systems to mitigate the risk associated with unexpected fire outbreaks. This factor is expected to support the growth of the market globally. Factors such as the high cost associated with the system installation and the low reliability of these systems by end-users are expected to restrain the growth of the market. A high cost is associated with installing fire sprinklers in old buildings. Factors such as establishing a new water tank, water distribution piping system, etc., increase the fire protection expendi

ture.

Advanced features have revolutionized the performance of modern fire sprinklers, incorporating smart detection systems and targeted water distribution for more efficient fire suppression. Smart detection systems are advanced technologies & sensors used in fire sprinklers to detect and identify potential fire hazards more efficiently. Water distribution patterns pertain to sprinkler heads' specific arrangement and design in a fire suppression system, ensuring optimal coverage and effective water distribution to control or extinguish fires. Water distribution patterns have seen notable progress through innovative design and engineering. Fire sprinklers are capable of dispersing water in a more optimized and targeted manner, ensuring quick and efficient coverage of required areas. This maximizes their firefighting potential while minimizing collateral damage.

Detection capabilities have also played a vital role in improving fire sprinkler systems. Newer models are equipped with highly sensitive and accurate detectors that promptly identify the presence of smoke, heat, or flames. This enhanced detection accuracy ensures precise activation of the sprinkler system when needed, reducing false alarms and enabling efficient utilization of resources. These advancements have elevated the performance and reliability of fire sprinklers, making them crucial tools in fire safety.

Fire Sprinkler Systems Market Report Highlights

• In terms of component, the product segment held the largest market share of over 73% in 2022 and is anticipated to register the fastest CAGR of 8.7% over the forecast period. The need for effective fire protection and safety measures in buildings and industrial facilities drives the growth of this segment
• In terms of product, the dry-pipe sprinkler system segment is anticipated to grow at a considerable CAGR over the forecast period. The dry-pipe sprinkler system protects areas with freezing temperatures or conditions where water-filled pipes could be at risk of freezing and bursting, allowing for the use of pressurized air or nitrogen in the pipes to prevent water damage
• In terms of end-use, the residential sector is anticipated to register a favorable growth rate over the forecast period. The sector’s growth is attributed to population growth, urbanization, and government policies promoting sustainable housing and energy efficiency
• In terms of region, Asia Pacific is anticipated to register the fastest CAGR of 9.7% over the forecast period. The main driving factor for adopting fire sprinkler systems in the Asia Pacific region is increasing urbanization and growing awareness of the importance of fire protection in preventing loss of life and property

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