Fire Suppression Systems Market Is Expected To Reach A Valuation Of US$ 30 Bn By 2032

As of 2021, the market for fire suppression systems was estimated to be worth close to US$ 17 billion. In 2022, it is anticipated to grow Y-o-Y at a rate of 5.8%, reaching US$ 18 billion. The market is anticipated to have increased 1.6 times in value by the end of the projection period (2022-2032), reaching US$ 30 Bn.

From 2015 to 2021, sales of fire suppression systems increased at a CAGR of 4.8%, reaching US$ 17 Bn at the end of the aforementioned historical period. Demand for sophisticated fire safety measures is growing, which is encouraging the usage of fire suppression systems as construction and industrial activity continue to increase.

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Key Players:

• Robert Bosch GmbH
• Gentex Corporation
• Minimax Viking GmbH
• Honeywell International
• Raytheon Technologies (United Technologies Corporation)
• Halma Plc
• Siemens AG
• Johnson Controls International

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Key Segments Covered in the Fire Suppression System Market Report

• By Product

o Fire Extinguisher
o Fire Sprinkler
• By Fire Extinguisher Type
o Gas Fire Suppression Systems
o Water Fire Suppression Systems
o Dry Chemical Powder Fire Suppression Systems
o Other Fire Extinguisher Types

• By Application

o Fire Suppression Systems for Commercial Applications
o Fire Suppression Systems for Industrial Applications
o Fire Suppression Systems for Residential Applications

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Regions covered in report:

• North America (U.S. and Canada)
• Europe (U.K., Germany, France, Spain, Italy, and Rest of Europe)
• Asia Pacific (China, Japan, India, Indonesia, and Rest of Asia Pacific)
• Latin America (Brazil, Mexico, and Rest of Latin America)
• Middle East & Africa (GCC, South Africa and Rest of Middle East & Africa)

Drivers and Risks Analysis:

The global Sprockets market is characterized by several leading factors, with each factor playing a crucial role in the growth of the industry. The growing demand for products coupled with easy availability of the same has helped the industry flourish across the globe.

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