Fire Suppression Systems Market 2021 Analysis, Opportunities and Overview Forecast till 2025: Johnson Controls International PLC(Tyco), Consilium AB Publ, Fike Corporation, Semco Maritime A/S, and Marioff Corporation Oy among others

The “Fire Suppression Systems Market” report is an in-depth study of the market, along with an analysis of its key segments. The relationship is built through extensive primary and secondary research. In-depth market data is generated through interviews and data collection from industry experts and professionals. The study is a detailed document on key aspects of the markets including trends, segmentation, growth prospects, opportunities, challenges, and competitive analysis.

The Fire Suppression Systems Market is expected to grow at a CAGR of 7.2% over the forecast period 2020 to 2025.

The report is updated with the impact of the currently ongoing COVID-19 pandemic. The pandemic has dynamically affected key market segments and changed the growth pattern and demands in the Fire Suppression Systems market. The report covers an in-depth analysis of these changes and provides an accurate estimate of the market growth forecast after the impact of the pandemic.

The report presents the market competitive landscape and a corresponding detailed analysis of the major vendor/key players in the market. Top Companies in the Global Fire Suppression Systems Market: Johnson Controls International PLC(Tyco), Consilium AB Publ, Fike Corporation, Semco Maritime A/S, and Marioff Corporation Oy among others.

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Industry news and Developments:

- Oct 2019 - Marioff delivered and commissioned a HI-FO high-pressure water mist suppression system for the new Pijt-Hme Central Hospital. The HI-FOG system will protect the entire building, which spans 33,600 square meters and is supplied with a HI-FOG Electric Pump Unit (EPU) and 2,300 sprinklers.

- June 2019 - Fike Corporation, launched 3MTM Novec TM 1230 Fire Protection Fluid in its patented Impulse Valve Technology fire suppression system. 3M Novec 1230 fluid is waterless, discharged as a gas, leaves no residue, and is electrically non-conductive, making it an ideal solution for quickly extinguishing fires in spaces occupied by electronics or irreplaceable assets and where business continuity is critical.

Key Market Trends

Commercial Segment to Register Significant Growth

- The commercial sector is projected to witness rapid growth subject to rising investments toward the construction of offices, educational institutes, and the hospitality industry. According to the World Bank, in 2018, the construction industry spending worldwide amounted to USD 11.4 trillion. Construction expenditures are expected to reach USD 14 trillion in 2025. These factors are expected to boost the sales of fire suppressors.

- Rapid industrialization and urbanization in developing nations, coupled with increasing office floorspace, will foster the commercial segment's fire suppression market demand. For instance, as per the World Bank, in 2019, approximately a third of the total population in India lived in cities. According to the Population Reference Bureau, in 2019, the degree of urbanization worldwide was at around 54% and is projected to increase to 70% of the global population by 2050.

- Strict regulations about public safety, coupled with the commercial base's ongoing expansion, will positively influence the Fire Suppression Systems business landscape. For example, according to Samadhi Partners, in 2018, the retail database market is forecast to fall to USD 25 billion.

APAC to Dominate the Market

- The Asia Pacific added to a meaningful market share due to substantial growth in building infrastructure and growing investment in offshore development. Besides, increasing industrialization in developing economies like India and China, coupled with a notable number of floating liquefied natural gas vessels intended to be set up in Australia, is anticipated to increase the global fire suppression systems market over the forecast period.

- Besides, in the region, India has been increasing the investment in infrastructure-related projects over the past few years. For instance, in the recent union budget for 2019-20, India's government has designated around USD 63.20 billion for the infrastructure sector. The infrastructure sector in India witnessed investments worth USD 1.97 billion from private equity and venture capitals in 2018.

- The region is anticipated to dominate the Fire Suppression Systems Market owing to the considerable recognition of building safety codes coupled with growing hazards and accidents, stimulating product penetration. Assertive macroeconomic ideas, along with strengthening customer awareness toward the selection of safety equipment, will drive product penetration.

- The Chinese government has pledged to restore fire suppression measures to promote cultural relics preservation. National Cultural Heritage Administration (NCHA) reported about 6 fire accidents at heritage sites in China in 2019. To prevent similar fire accidents at other heritage sites, the Chinese government is deploying firefighters and providing fire suppression measures, fostering market growth.

- Expansion of the manufacturing industry linked with growing investments toward superior building technologies will drive the business outlook. Strict government measures and policies for creating a safe and healthy work environment will fuel the business landscape. Also, article 13 of the Fire Protection Law of China mandates the use of protection systems in industrial, commercial, and residential buildings across the nation.

For a comprehensive understanding of market dynamics, the global Fire Suppression Systems market is analyzed across key geographies namely: United States, China, Europe, Japan, South-east Asia, India, and others. Each of these regions is analyzed on basis of market findings across major countries in these regions for a macro-level understanding of the market.

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Influence of the Fire Suppression Systems market report:

-Comprehensive assessment of all opportunities and risks in the Fire Suppression Systems market.

–Fire Suppression Systems market recent innovations and major events.

-Detailed study of business strategies for growth of the Fire Suppression Systems market-leading players.

-Conclusive study about the growth plot of Fire Suppression Systems market for forthcoming years.

-In-depth understanding of Fire Suppression Systems market-particular drivers, constraints, and major micro markets.

-Favourable impression inside vital technological and market latest trends striking the Fire Suppression Systems market.

What are the market factors that are explained in the report?

-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

-Analytical Tools: The Global Fire Suppression Systems Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

The research includes historic data from 2015 to 2021 and forecasts until 2026 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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