openPR Logo
Press release

Fire Suppression Market worth 29.13 billion USD by 2023

04-22-2021 08:03 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: MarketsandMarkets

According to the new market research report "Fire Suppression Market by Product (Fire Suppressors, Fire Detectors and Control Panels, Sprinklers, Nozzles, Caps, and Control Heads), Suppression Reagent, Sector (Residential, Commercial, Industrial), and Region - Global Forecast to 2023", the fire suppression market is estimated to be worth USD 22.97 billion in 2018 and is projected to reach USD 29.13 billion by 2023, at a CAGR of 4.87% between 2018 and 2023. Key factors such as technological advancements and innovations in the construction industry; increasing policies, regulations, and government mandates; and increased damage to human life and property due to fire breakouts are driving the fire suppression market growth.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=8212480

Fire suppression reagent FM200 to hold largest market share between 2018 and 2023

FM200 is a clean, colorless, and environmentally friendly fire suppression agent that is electrically nonconductive and safe for humans. It extinguishes flame primarily through heat absorption, leaving no residue, and thus minimizing downtime after a fire. FM200 agent is stored in a cylinder as a liquid and pressurized with nitrogen, which makes it a highly compact fire suppression system. The use of FM200 does not affect aluminum, brass, steel, cast iron, lead, stainless steel, copper, etc., as well as rubber, plastic, and electronic components. Due to this, it is used in telecommunication facilities, computer rooms, control rooms, museums and art galleries, historical archive storage, and pharmaceutical and medical facilities.

Oil & gas and mining to hold largest share of fire suppression market between 2018 and 2023

The use of fire suppression systems is prevalent in the oil & gas industry. Hence, the decrease in investment in the industry affects the fire suppression market. However, various existing fire detection and suppression systems used in the industry need regular maintenance, repair, and replacement of parts due to protocols established in the industry, which would result in the growth of the fire suppression market. Oil & gas companies are focusing on improving operational efficiency, and companies are expected to be streamlined in terms of improving operational efficiency and working with fewer resources after they overcome the current oil price situation.

Asia Pacific held largest share of fire suppression market in 2017

Asia Pacific held the largest share of the fire suppression market in 2017. Rising urbanization in emerging markets such as China, India, Indonesia, and Nigeria is expected to accelerate infrastructure spending for vital infrastructure sectors, which include transportation, water & wastewater treatment, and power. This, in turn, will urge infrastructure financing toward consumer sectors, which would include manufacturing and transportation that facilitate the production and distribution of raw materials for consumer goods. In India and Japan, substantial rebound in transportation spending, which includes rail and air upgrades, is expected to triple the annual infrastructure spending in the aforementioned sectors. Growing urbanization in APAC has increased construction activities, contributing significantly to the growth of the fire suppression market. The expansion of the manufacturing base in Asian countries has also led to the growth of the fire suppression market.

Speak to Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=8212480

Major companies in the fire suppression market are Johnson Controls (Ireland), United Technologies (US), Robert Bosch (Germany), Siemens (Germany), Halma (UK), Hochiki (Japan), Firefly (Sweden), Minimax Viking (Germany), Honeywell (US), and S&S Fire Suppression Systems (US). Key innovators in the market are EMS Security Group (UK), Electro Detectors (UK), Napco Security Technologies (US), Fike (US), and Gentex (US). Other key players are Noha Norway (Norway), Sterling Safety Systems (UK), FireProTec (US), Fire Suppression Limited (UK), and Encore Fire Protection (US).

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Fire Suppression Market worth 29.13 billion USD by 2023 here

News-ID: 2273637 • Views:

More Releases from MarketsandMarkets

Laser Interferometer Market Set to Grow at the Fastest Rate- Time to Grow your Revenue
Laser Interferometer Market Set to Grow at the Fastest Rate- Time to Grow your R …
The global laser interferometer market is expected to be valued at 315 million in 2024 and is projected to reach USD 447 million by 2029, at a CAGR of 7.2% from 2024 to 2029. Emerging applications in industries push the market's growth due to the growing demand for precision in the manufacturing sector. However, challenges such as higher initial investments and maintenance costs cause problems. Despite these, opportunities arise for
With 19.6% CAGR, Battery Testing, Inspection, and Certification Market Growth to Surpass USD 36.7 billion
With 19.6% CAGR, Battery Testing, Inspection, and Certification Market Growth to …
The battery testing, inspection, and certification market is projected to reach USD 36.7 billion by 2029 from USD 14.9 billion in 2024 at a CAGR of 19.6% during the forecast period. Increasing adoption of EVs and energy storage systems, rising enforcement of stringent standards to ensure battery safety, thriving portable electronics industry, and rapid advances in battery technology are the major factors contributing to the market growth. Download PDF Brochure @
Real-Time Location Systems Revolutionize Healthcare: Insights from MarketsandMarkets
Real-Time Location Systems Revolutionize Healthcare: Insights from MarketsandMar …
The global RTLS market for healthcare is projected to grow from USD 2.3 billion in 2024 to USD 5.7 billion by 2029, at a compound annual growth rate of 19.6% from 2024 to 2029. As it attracts more and more players who enter this market with innovative RTLS features for customers, the market for RTLS technology is rapidly increasing. Top companies in this market focus on healthcare, retail, and manufacturing
Offsite Data Center Power Infrastructure Market Size to Reach $35.4 billion by 2030 | Leading key players are ABB, Schneider Electric, Eaton, Vertiv
Offsite Data Center Power Infrastructure Market Size to Reach $35.4 billion by 2 …
According to a research report "Offsite Data Center Power Infrastructure Market by Component (Solutions and Services), Vertical (BFSI, Media & Entertainment, Government & Defence, Healthcare, Manufacturing, IT & Telecom, Retail) and Region - Global Forecast to 2030" published by MarketsandMarkets, the market size for global offsite data center power infrastructure market is projected to reach approximately USD 35.4 billion by the year 2030, as compared to the estimated value of

All 5 Releases


More Releases for Suppression

Electric Vehicles Transient Suppression Diodes Market
Electric Vehicles Transient Suppression Diodes Market Analysis: The global Electric Vehicles Transient Suppression Diodes Market size was estimated at USD 122 million in 2023 and is projected to reach USD 559.32 million by 2030, exhibiting a CAGR of 24.30% during the forecast period. North America Electric Vehicles Transient Suppression Diodes market size was USD 31.79 million in 2023, at a CAGR of 20.83% during the forecast period of 2025 through 2030. To Read
EMI Suppression Capacitor Market
EMI Suppression Capacitor Market Overview EMI suppression capacitors reduce the amount of electro magnetic interference (EMI) generated in equipment. They protect against surges and can be used for AC filtering. EMI suppression capacitors are used in a wide variety of applications, for example, for RFI suppression and prevention of electrical shock to humans and animals. This report provides a deep insight into the global EMI Suppression Capacitor market covering all its essential
Data Center Fire Detection and Suppression Market Safeguarding the Digital Age: …
Global Data Center Fire Detection and Suppression Market worth $2.30 Bn by 2031 - Exclusive Report by InsightAce Analytic Pvt. Ltd. InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Data Center Fire Detection and Suppression Market - (By Fire Safety Systems (Fire Detection and Fire Suppression), By Deployment Locations (Technical Space and Other Spaces) Trends, Industry Competition Analysis, Revenue and Forecast To 2031." According to
Fire Suppression Market - Advancing Safety and Innovation
The Fire Suppression Market size was estimated at USD 21.5 billion in 2023 and is expected to reach USD 31.5 billion by 2031 at a CAGR of 4.85 % during the forecast period of 2024-2031. The global fire suppression market is experiencing significant growth, driven by rising safety concerns, stringent regulations, and technological advancements. This press release provides a comprehensive overview of market dynamics, key drivers, opportunities, and challenges shaping
Fire Suppression System Market
𝐔𝐒𝐀, 𝐍𝐞𝐰 𝐉𝐞𝐫𝐬𝐞𝐲-  Fire Suppression System Market size is growing at a faster pace with substantial growth rates over the last few years and is estimated that the market will grow significantly in the forecasted period i.e. 2021 to 2028. The growth of the fire suppression system market is primarily driven by the increasing emphasis on safety regulations and the rising incidence of fire hazards across various industries. Stricter government regulations
Fire Suppression Market Growth Framework 2028
Fire Suppression Market – Introduction Fire suppression is defined as the process of reducing heat released from the fire and limiting it from spreading further. A fire suppression system is a product that extinguishes and prevents the spread of fire across an enclosure or facility. The global fire suppression market is anticipated to accelerate at a rapid pace owing to the swelling demand from fire risk-prone industries, including oil and gas