The global fire detection and suppression systems market size is expected to grow by USD 5.91 billion as per Technavio. This marks a significant market growth compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. Moreover, healthy growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of 4%. Request Free Sample Report on COVID-19 Impacts
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Technavio has announced its latest market research report titled Global Fire Detection and Suppression Systems Market 2020-2024 (Graphic: Business Wire)
Read the 120-page report with TOC on "Fire Detection and Suppression Systems Market Analysis Report by End-user (Commercial buildings, Industrial sector, Residential buildings, Government buildings, and Educational buildings) and Geography (North America, Europe, APAC, MEA, and South America), and the Segment Forecasts, 2020-2024".
https://www.technavio.com/report/fire-detection-and-suppression-systems-market-industry-analysis
The market is driven by the stringent regulations supporting improved fire safety standards. In addition, the emergence of eco-friendly products is anticipated to boost the growth of the fire detection and suppression systems market.
The implementation of stringent fire safety regulations in developed regions, such as North America and Western Europe, is a major factor that is driving the adoption of fire detection and suppression systems. Most countries are working to reduce incidents of fire outbreaks. As a result, governments have regularized fire control systems in the residential, commercial, and industrial sectors. As per regulations, buildings must be equipped with proper emergency handling systems, the most important being the fire detection and suppression systems. For instance, awareness initiatives by federal governments and the NFPA association in the US are promoting the adoption of fire prevention measures among end-users in the country. Many countries, such as Australia, France, Austria, Germany, Japan, Indonesia, the UK, and few states of the US, have mandated the installation of fire alarms in all buildings irrespective of the height of the building. For the industrial sector, almost all countries have regulations to deploy fire alarms in the structure.
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Major Five Fire Detection and Suppression Systems Companies:
AFEX Fire Suppression Systems
AFEX Fire Suppression Systems provides pre-engineered fire protection solutions used across industries such as agriculture, coal, construction, mining, oil, gas and energy, waste management, and steel and slag. The company offers liquid agent, dry chemical, and dual agent-based pre-engineered manual and automated fire suppression systems.
API Group
API Group has business operations under three segments: safety services, specialty services, and industrial services. The company offers end-to-end fire protection solutions, including design, installation and service of fire protection systems such as sprinkler systems, fire pumps, and fire extinguishers.
Carrier Global Corp.
Carrier Global Corp. operates its business through various segments such as HVAC, refrigeration, and fire and safety. The company offers wide range of residential, commercial and industrial systems that includes fire and carbon monoxide detection system, fire, gas and water suppression system, and fire and gas safety solutions.
Emerson Electric Co.
Emerson Electric Co. has business operations under automation solutions and commercial and residential solutions. The company offers a range of flame detection systems under the Rosemount brand such as Rosemount 975UR Ultraviolet Infrared Flame Detector, Rosemount 975UF Ultra Fast Ultraviolet Infrared Flame Detector, Rosemount 975HR Multi-Spectrum Infrared Hydrogen Flame Detector and Rosemount 975MR Multi-Spectrum Infrared Flame Detector.
Globe Fire Sprinkler Corp.
Globe Fire Sprinkler Corp. offers sprinklers, accessories, valves, and electronic products such as pressure switches and tamper switches. The company offers a wide range of sprinkler systems such as S1 standard coverage fire hose, S2 extended coverage, S5 dry, S6 Special Sprinkler and S7 high Pressure, S8 sprinkler patterns/warning and accessories.
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Fire Detection And Suppression Systems End-user Outlook (Revenue, USD bn, 2020-2024)
- Commercial buildings
- Industrial sector
- Residential buildings
- Government buildings
- Educational buildings
Fire Detection And Suppression Systems Regional Outlook (Revenue, USD bn, 2020-2024)
- North America
- Europe
- APAC
- MEA
- South America
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