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Fire Suppression Market 2018 Key Players United Technologies Corporation, TYCO, Minimax, Lubrizol, Halma PLC, SFFECO, Firetronics, NAFFCO, Amerex Corporation.

Fire Suppression Market

Fire Suppression Market

As reported by Global Market Insights, Inc., fire suppression market size will exceed a valuation of USD 16 billion by 2024, with the overall target annual installation to surpass 500 million units by 2024. Tremendous increase in the number of fire accidents and hazards over the last couple of years across the globe is stupendously driving fire suppression market size. Validating this crucial fact- International Rescue Services in one of the latest reports estimated that over 60000 injuries and 20000 casualties were recorded in the year 2014, due to fire. Considering these compelling issues, stringent government norms have been mandated on workers associated with mining and petrochemicals sectors to maintain occupational safety and control loss of property, which again has proved to be a major driver for the global fire suppression market outlook.

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Lifeline’s recent launch of the latest edition of Zero 3620 fire suppression system marks another lucrative journey for the car safety giant in fire suppression industry. Post the gala success of its patent Zero 3620 fire suppression series, Lifeline, somewhere toward the end of 2016, introduced Zero 3620 Firemarshal, reported to be the advanced version of the original system. As claimed by the experts, this state-of-the-art fire suppression technology not only offers outstanding performance but also scores a competitive advantage with regards to its cost when compared with other FIA 8865 approved series.

In addition to this, Zero 3620 Firemarshal also meets all the revised fire suppression standards of FIA 8865 and has been especially designed to be used with diesel, unleaded petrol, and E85 fuels, cite reliable sources. Thriving on the foundation of the escalating requirement of fire safety in commercial and industrial sectors, which has pushed leading companies to diversify their product portfolio, fire suppression industry size is certain to widen its horizon in the coming years.

The U.S. government, for instance, has established NFPA (National Fire Protection Association) codes and protocols for the standardization of equipment and protection systems across the country. Undoubtedly, it has brought remarkable proceeds in the regional fire suppression market trends. U.S. is one of those fire-accident prone regions where the record is noticeably high. In fact, National Fire Protection Association, in its latest report, stated that in the year 2015, America accounted for almost 1,345,500 fire accidents. Strong positive outlook toward building safety codes along with growing incidence of fire hazards is expected to stimulate the product penetration in this country. If experts’ estimations are to be relied on, U.S. fire suppression industry is anticipated to exceed an annual installation of 150 million units in the coming seven years.

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Europe is also claimed to be another lucrative ground for fire suppression market growth, with U.K at its foray. In fact, U.K fire suppression industry, is estimated to witness a y-o-y growth of 3% over 2017-2024. Spreading awareness among the Europeans with regards to increasing adoption of fire protection system has fostered the regional market proliferation. Additionally, the European Commission estimates that approximately over 70000 people get hospitalized every year from fire hazards with a subsequent damage of almost USD 148.6 billion. Unfortunately, the percentage is increasing day by day, which proves to be a significant contributing factor contributing to the regional fire suppression market share.

Partial Chapter of the Table of Content

Chapter 2. Executive Summary

2.1. Fire suppression industry 3600 synopsis, 2013 - 2024
2.1.1. Business trends
2.1.2. Product trends
2.1.3. End-Use trends
2.1.4. Regional trends

Chapter 3. Fire Suppression Market Industry Insights

3.1. Fire suppression Industry segmentation
3.2. Fire suppression Industry landscape, 2013 - 2024
3.3. Fire suppression Industry ecosystem analysis
3.3.1. Vendor matrix
3.4. Technology & Innovation landscape
3.5. Regulatory landscape
3.5.1. U.S.
3.5.2. Europe
3.5.3. UK
3.5.4. China
3.5.5. India
3.5.6. UAE

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3.6. Europe government expenditure on public order and safety, 2015
3.7. Fire hazards and accidents landscape for the U.S., 2016
3.8. Industry impact forces
3.8.1. Growth drivers
3.8.1.1. North America
3.8.1.1.1. Increasing fire hazards
3.8.1.1.2. Stringent government norms towards fire protection
3.8.1.2. Europe
3.8.1.2.1. Favorable government legislations and safety standards
3.8.1.2.2. Growing construction and refurbishment activities
3.8.1.3. Asia Pacific
3.8.1.3.1. Rapid industrialization and urbanization
3.8.1.3.2. Increasing awareness towards fire protection systems
3.8.1.4. Rest of World
3.8.1.4.1. Increase in infrastructural spending
3.8.2. Industry pitfalls & challenges
3.8.2.1. Lack of consumer awareness
3.9. Growth potential analysis
3.10. Porter's analysis
3.11. Competitive landscape, 2016
3.11.1. Strategy dashboard
3.11.2. Mergers & acquisitions
3.12. PESTEL analysis

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us:

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com/

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