The global fire suppression systems market is envisaged to gather pace with swelling demand from fire risk-prone industries such as energy and power, oil and gas exploration, and manufacturing.
[USPRwire, Thu Jun 27 2019] Emerging economies witnessing a rise in the number of construction activities are envisioned to substantially contribute to the growth of the global Fire Suppression Systems Market. Mandatory building safety codes and increasing consumer awareness about fire safety could push market growth in the near future. The market is foreseen to gain impetus from the growing demand for sophisticated technologies used for the automation of fire safety systems.
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The global fire suppression systems market is envisaged to gather pace with swelling demand from fire risk-prone industries such as energy and power, oil and gas exploration, and manufacturing. These industries could significantly up the demand for fire prevention and protection systems. The market could see strong growth rising on the back of the need to minimize human loss and safeguard structures. Organizations are largely adopting fire suppression systems with rising awareness about their advantages and benefits across different industry verticals. Improved fire safety standards supported by tight regulations are expected to set the tone for valuable growth in the market.
The automation process could be simplified with the use of wireless sensory networks in the construction of smart cities. Market growth is also foretold to propel as it rides on the increasing requirement of centralized protection system with modern detectors and sensors connected via WAN/LAN networks.
FactMR’s new report on the global fire suppression market provides a comprehensive market outlook during forecast period of 2018 - 2027. The report delivers an in-depth analysis of the past, current, and future trends of the industry which can assist stakeholders in assessing the opportunities in the market.
Based on the extinguishing agents used to suppress the fire, the fire suppression systems are of three types -- water-based, chemical-based, or gas-based. Within these categories, based on specific requirements, different delivery systems are found such as water pipe, sprinklers, and manual or automated suppression systems. Apart from this, the fire suppression system also includes detection systems, alarms, and emergency control system.
Fire incidences lead to several disastrous impacts such as threats to livelihood, destruction of public as well as private properties. To prevent such damage, fire suppression systems are highly adopted in the commercial sectors. The International Fire Suppression Alliance (IFSA) data suggested that approximately 135.8 million units of sprinklers were installed worldwide in 2016. Further, the highest installation was reported in Asia, followed by North America and Europe.
Increased construction activities in commercial, residential as well as industrial sectors have contributed significantly in this record breaking installations. Increased industrialization and on-going construction of new infrastructures are set to influence the future adoption of the fire suppression systems market.
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According to the National Fire Protection Association (NFPA), over 1.3 million fire incidences were reported in the United States. These incidences caused over 3000 deaths and property loss of worth US$ 10.6 billion. Due to this, NFPA has enacted guidelines for commercial business infrastructures to deploy fire suppression system such as sprinklers and clean agent suppression systems. Further, NFPA has included two important requirements of regular maintenance and training of personnel of the clean agent fire suppression system. Moreover, IFSA has recently published an article that includes the FM Global data sheet that included technology updates for installation of sprinkler systems in automated storage facilities. Recently announced new US federal tax reform will support small business annually and large business entities over the span of five years for retrofitting of sprinkler systems. Such government reforms will enhance the adoption of fire suppression systems at larger geographical locations.
Victualic VortexTM is a fire suppression system launched by Victaulic, a global provider of mechanical pipe joints, fire protection systems, and innovative engineering and construction solutions. This is a new hybrid fire suppression system that involves combination of water and nitrogen extinguishers that efficiently suppresses the fire.
Other key companies in the global fire suppression market include Minimax, Lubrizol, Bristol Fire Engineering, Halma PLC, SFFECO, NAFFCO, TYCO, United Technologies Corporation, Master Fire Preventions Ltd., Firetronics, National Fire Equipment Ltd. and Amerex Corporation.
As manufacturers are aligning their product launch to the evolving regulatory reforms and changing building infrastructures, adoption of advanced fire suppression systems is likely to grow. Further, a need for developing effective method of fire safety has led to the development of innovative solutions that are superior as well as environmental-friendly. In addition, technology innovations and integration of IoT and cloud-based solutions are driving the demand for fire suppression systems in the new smart building constructions globally.
Overall, the report offers holistic analysis and insights on the global fire suppression systems market. Stakeholders can gain a wealth of information on the key factors likely to shape the market during the assessment period 2018-2027.
This analytical research study imparts an all-inclusive assessment on the market, while propounding historical intelligence, actionable insights, and industry-validated & statistically-upheld market forecast. Verified and suitable set of assumptions and methodology has been leveraged for developing this comprehensive study. Information and analysis on key market segments incorporated in the report has been delivered in weighted chapters.
Compilation of authentic and first-hand intelligence, insights offered in the report are based on quantitative and qualitative assessment by leading industry experts, and inputs from opinion leaders & industry participants around the value chain. Growth determinants, macroeconomic indicators, and parent market trends have been scrutinized and delivered, coupled with the market attractiveness for each market segment encompassed. Qualitative impact of growth influencers on the market segments across regions has also been mapped by the report.
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