Fire Sprinkler Market Trends, Share, Growth, Opportunity To Reach $14.52 Bn by 2027

Rise in residential and non-residential construction activities, growing awareness regarding safety from fire, stringent regulations for installation of fire sprinkler systems, and loss of human and property drive the growth of the global fire sprinkler market. On the other hand, fluctuations in raw material prices and high initial costs and lack of skilled manpower hinder the growth to certain extent. Nevertheless, technological advancements in fire suppression systems and government investments in the building infrastructure sector create new opportunities in the coming years.

According to the report published by Allied Market Research, the global fire sprinkler market generated $10.20 billion in 2019, and is estimated to reach $14.52 billion by 2027, registering a CAGR of 6.5% from 2020 to 2027. The report offers an extensive analysis of changing market trends, top winning strategies, key segments, Porter's Five Forces, and business performance of key market players.

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The global fire sprinkler market is classified on the basis of type, component, technology, application, and region.

Based on type, the market is bifurcated into products and services. The products segment contributed to the largest share in 2019, accounting for more than two-thirds of the global market, and is estimated to maintain its dominant position during the forecast period. On the other hand, the services segment is expected to register the highest CAGR of 8.4% from 2020 to 2027.

Based on component, the stop valve segment accounted for the largest share in 2019, holding for nearly half of the global market, and is expected to maintain the largest share throughout the forecast period. In addition, the segment is estimated to portray the highest CAGR of 7.6% during the forecast period. Other segments in the report include alarm valve, fire sprinkler head, alarm test valve, and motorized alarm bell.

Based on region, the North America region contributed to the highest share, accounting for more than two-fifths of the global fire sprinkler market in 2019, and will maintain its dominance throughout the forecast period. Moreover, the Asia-Pacific region is expected to grow at the highest CAGR of 9.3% from 2020 to 2027. The market is also analyzed across Europe and LAMEA region.

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Key Findings Of The Study
• The report provides an extensive analysis of the current and emerging fire sprinkler market trends and dynamics.
• Depending on type, the products segment dominated the fire sprinkler market, in terms of revenue in 2019, and is projected to grow at a significant CAGR during the forecast period.
• By component, the stop valve segment registered highest revenue in 2019.
• On the basis of technology, active fire protection has garnered highest share of revenue in 2019.
• Depending on application, the commercial segment dominated the fire sprinkler market, in terms of revenue in 2019, and is projected to grow at a significant CAGR during the forecast period.
• Asia-Pacific region is projected to register the highest growth rate in the coming years.
• The key players within the fire sprinkler market are profiled in this report, and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the fire sprinkler industry.

Key Players:
The key players profiled in the fire sprinkler market report include AG Fire Sprinkler, American Fire Technologies, APi Group, GW Sprinkler A/S, Honeywell International Inc., Johnson Controls International Plc, Minimax GmbH & Co. KG, Robert Bosch GmbH, Siemens AG, and SIRON Fire Protection.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, DE. 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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