Fire Suppression Market: Market Size, Trends and Growth Analysis

Fire Suppression Market: Market Size, Trends and Growth Analysis

Fire Suppression Market Trends and Forecast

The future of the fire suppression market looks promising with opportunities in the industrial, commercial, transportation, and residential markets. The fire suppression market is expected to reach an estimated $24.4 billion by 2027 with a CAGR of 4% from 2021 to 2027. The major drivers for this market are increasing fire incidents, stringency in fire safety norms, and growth in the construction industry.

Emerging Trends in the Fire Suppression Market

An emerging trend, which has a direct impact on the dynamics of the industry, includes development of sound based fire extinguisher, video image smoke detector, and development of voice evacuation system.

A total of 107 figures / charts and 68 tables are provided in this 205-page report to help in your business decisions. A sample figure with insights is shown below. To learn the scope of benefits, companies researched, and other details of the fire suppression market report, please download the report brochure.

Fire Suppression Market by Segment

The study includes trends and forecast for the global fire suppression market by product type, end use industry, and region as follows:

Fire Suppression Market by Product Type [$M shipment analysis from 2016 to 2027]:

• Chemical
• Gaseous
• Water Based
• Foam Based

Fire Suppression Market by End Use Industry [$M shipment analysis from 2016 to 2027]:

• Industrial
• Commercial
• Transport
• Others

Fire Suppression Market by Region [Value ($M) shipment analysis for 2016 – 2027]:

• North America
• US
• Canada
• Mexico
• Europe
• Germany
• The United Kingdom
• France
• Italy
• Asia Pacific
• China
• Japan
• India
• Australia
• The Rest of the World

List of Fire Suppression Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies fire suppression companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the fire suppression companies profiled in this report includes.

• Johnsons Control
• United Technology Corporation
• Minimax
• Robert Bosch
• Halma PLC
• Siemens
• Hochiki
• Firefly AB
• Honeywell
• Fike Corporation
• 3S Incorporated

Fire Suppression Market Insight

• Lucintel forecasts that industrial will remain the largest end use industry during the forecast period due to rapid industrialization in emerging economies, increasing demand of fire suppression systems in oil & gas, mining, and chemical industries, and strict fire safety regulation. Growing oil and gas projects in US, Africa, Kuwait, Russia, and Australia is expected to foster the demand for large scale installation of fire suppression systems in these projects.
• Gaseous based suppression systems is expected to witness the highest growth due to higher effectiveness, faster response in extinguishing fire, and ability to leave no residue after fire suppression. Growing installation of carbon-dioxide and clean agent gas based suppression systems in industrial and commercial applications will drive the market.
• Asia Pacific is expected to witness the highest growth over the forecast period supported by rapid industrialization, growing residential and commercial construction, and government regulation towards fire safety. China, India, and South Korea are expected to drive the demand for suppression system considering economic advancement and development projects in the industrial and commercial sectors.

Features of Fire Suppression Market

• Market Size Estimates: Fire suppression market size estimation in terms of value ($B)
• Trend and Forecast Analysis: Market trends (2016-2021) and forecast (2022-2027) by various segments and regions.
• Segmentation Analysis: Market size by product type and end use industry
• Regional Analysis: Fire suppression market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth Opportunities: Analysis of growth opportunities in different product type, end use industry, and regions for the fire suppression market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the fire suppression market.
• Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ

Q1. What is the fire suppression market size?

Answer: The global fire suppression market is expected to reach an estimated $24.4 billion by 2027.

Q2. What is the growth forecast for fire suppression market?

Answer: The fire suppression market is expected to grow at a CAGR of 4% from 2021 to 2027.

Q3. What are the major drivers influencing the growth of the fire suppression market?

Answer: The major drivers for this market are increasing fire incidents, stringency in fire safety norms, and growth in the construction industry.

Q4. What are the major applications or end use industries for fire suppression?

Answer: Industrial and commercial are the major end use industries for fire suppression.

Q5. What are the emerging trends in fire suppression market?

Answer: An emerging trend, which has a direct impact on the dynamics of the industry, includes development of sound based fire extinguisher, video image smoke detector, and development of voice evacuation system.

Q6. Who are the key fire suppression companies?

Answer: Some of the key fire suppression companies are as follows:

• Johnsons Control
• United Technology Corporation
• Minimax
• Robert Bosch
• Halma PLC
• Siemens
• Hochiki
• Firefly AB
• Honeywell
• Fike Corporation
• 3S Incorporated

Q7.Which fire suppression product segment will be the largest in future?

Answer: Lucintel forecasts that gaseous based suppression systems is expected to witness the highest growth due to higher effectiveness, faster response in extinguishing fire, and ability to leave no residue after fire suppression. Growing installation of carbon-dioxide and clean agent gas based suppression systems in industrial and commercial applications will drive the market.

Q8: In fire suppression market, which region is expected to be the largest in next 5 years?

Answer: Asia Pacific is expected to remain the largest region and witness the highest growth over next 5 years.

Q9. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions

Q.1 What are some of the most promising potential, high growth opportunities for the global fire suppression market by product type (chemical, gaseous, water, and foam based), by end use industry (industrial, commercial, transportation, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q. 2 Which segments will grow at a faster pace and why?

Q.3 Which regions will grow at a faster pace and why?

Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?

Q.5 What are the business risks and threats to the market?

Q.6 What are the emerging trends in this market and the reasons behind them?

Q.7 What are the changing demands of customers in the market?

Q.8 What are the new developments in the market? Which companies are leading these developments?

Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?

Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?

Q.11 What M & A activities have taken place in the last 5 years in this market?

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