Press release
Fire Suppression Equipment Market Grows Significantly $32.9 billion at 4.7% CAGR by 2027
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The fire suppression equipment market is segmented by equipment type, fire type, application, and region. Based on equipment type, the market is categorized into fire detectors, fire alarms, fire suppressors, sprinklers, nozzles, caps, and control heads, and others. The fire suppressors segment dominated the market share for 2019 followed by fire detectors. Fire detectors segments is forecasted to grow at a higher CAGR owing to increased awareness and government regulations regarding installation of proper fire safety systems.
Based on fire type, the market is divided into class A, class B, class C, class D, and class K/F. Class A fire type segment dominated the market share for 2019 owing to large number of category A fires caused from wood, paper, plastics and others. Class B segment is expected to grow at a higher CAGR during the forecast period.
On basis of application, the market was bifurcated into commercial, residential, forest and agriculture, and industrial. Industrial segment dominated the market share for 2019 growing at a CAGR of 5.0% and is expected to grow at the highest CAGR during the forecast period. This is owing to rising incidents of fire in the oil & gas, mining, manufacturing, and energy & power industry.
The market for FE-13 clean agent is expected to reach the highest CAGR during the forecast period. Clean agent fire suppression systems are waterless and deploy immediately without leaving oily residue or water that can damage irreplaceable assets.
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Region-wise, the fire suppression equipment market analysis is done across North America, Europe, Asia-Pacific, and LAMEA (Latin America, Middle East, and Africa). North America dominated the market share for 2019 owing to strict rules and regulation regarding fire safety and protection in the region. However, Asia-Pacific is expected to grow at a higher CAGR during the forecast period owing to rising awareness for fire safety and protection and increasing rules and regulations for the same
The key players operating in the fire suppression equipment market are
• Consilium AB
• Seimens AG
• Carrier Global Corporation
• Halma plc
• Semco Maritime A/S
• Hochiki Corporation
• Honeywell International Inc.
• Johnson Controls
• Gentex Corporation
• Robert Bosch Gmbh
Get detailed COVID-19 impact analysis on the Fire Suppression Equipment Market @ https://www.alliedmarketresearch.com/request-for-customization/7183?reqfor=covid
COVID-19 Impact
• Productions halt and decreased R&D investments across the world have impacted the global fire suppression equipment market negatively.
• Nevertheless, relaxations are now being levied on the current regulations, which is expected to help the market to go back to its position soon.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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