Automatic Fire Sprinklers Market by Current and Future Trends, Top Impacting Factors & demand to 2023
The automatic fire sprinklers are widely used in various residential, commercial, and industrial applications to prevent the fire spreading into the whole area thereby causing threat to life and property. Fire sprinklers help control and eliminate the damage caused by fire.
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Global Automatic Fire Sprinkler Systems Market was valued at $575 million in 2016 and is projected to reach $1,148 million by 2023, growing at a CAGR of 10.6% from 2017 to 2023. Automatic fire sprinklers detect the heat in advance, initiate alarm, and spray water finely into area which is prone to fire. The sprinklers detect the heat in advance and help in smothering the fire area thereby protecting the injuries caused by fire and safeguarding the lives and property.
Increase in Investments Across Organizations for Life Safety
Automatic fire sprinklers are installed in various commercial buildings such as offices, industries, hotels, schools, and hospitals to minimize the damage caused by fire. Therefore, organizations heavily invest money on fire protection and installation of various sprinklers, which provide safer work environment. Moreover, fire sprinklers are an investment to the business since they are tax deductible. Fire sprinklers are widely being installed in warehouses to protect the loss of damage caused by fire.
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The report provides an in-depth analysis of the global automatic fire sprinkler systems market to identify the potential investment pockets.
The key drivers, restraints, and opportunities are provided in the report.
Porters Five Forces model helps analyze the potential buyers and suppliers and the competitive sketch of the global automatic fire sprinkler systems market, which is expected to guide the market players to develop strategies accordingly.
Key Market Players
Cosco Fire Protection
Adams Fire Protection
Vfp Fire Systems
American Fire Technologies
Viking Group Inc.
Kaufman Fire Protection Systems, Inc.
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