Fire Sprinklers Market Outlook
According to a new report by Expert Market Research titled, “Global Fire Sprinklers Market Share, Size, Analysis, Report and Forecast 2023-2028″, the fire sprinklers market reached a value of about USD 11.69 billion in 2022. Aided by increase in smart home constructions and growing demand for domestic automation, the market is projected to further grow at a CAGR of 8.20% between 2023 and 2028 to reach a value of around USD 18.7 billion by 2028.
Fire sprinklers, crucial components in fire safety systems, automatically discharge water when they detect a substantial rise in ambient temperature, commonly due to fire. These devices are indispensable in commercial buildings, residential complexes, industries, and other infrastructures, providing a first line of defence against the catastrophic effects of fire, ensuring the safety of life and property.
The fire sprinklers market growth can be attributed to various factors, including the heightened awareness about fire safety and the perilous repercussions of fire-related incidents. Urbanisation and the consequent increase in high-rise structures, particularly in emerging economies, amplify the demand for comprehensive fire safety solutions, with fire sprinklers at the forefront.
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Complementing this rising fire sprinklers market demand is the institutional framework worldwide. Governments, cognisant of the dire consequences of inadequate fire safety measures, have been rigorously implementing fire safety norms. These often mandate the installation of fire sprinklers in new constructions and in certain scenarios, even in existing structures. Such regulatory muscle invariably propels the market forward.
Emerging technological advancements also provide a fresh impetus to the fire sprinklers market trends. Innovations now allow for the integration of fire sprinklers with smart home systems, enabling remote monitoring and control. These advances not only enhance safety but also offer conveniences that appeal to modern consumers.
The fire sprinklers market analysis reveals an increasing shift towards eco-friendly solutions. The development of water-efficient sprinklers, which minimise water usage while ensuring optimal fire suppression, is gaining traction. Such innovations not only conserve a precious resource but also reduce post-fire water damage.
Furthermore, as global infrastructure continues its relentless expansion, especially in developing regions, the need for fire safety is paramount. Fire sprinklers, with their proven efficacy and reliability, remain the cornerstone of fire protection systems. Global fire sprinklers market encapsulates a dynamic interplay of safety concerns, technological advancements, and regulatory frameworks.
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Fire Sprinklers Market Segmentation
The market can be divided based on product type, service, component, technology, end use, and region.
Market Breakup by Product Type
- Wet Pipe Fire Sprinklers
- Dry Pipe Fire Sprinklers
- Deluge Systems
- Pre-Action Systems
Market Breakup by Service
- Engineering Services
- Design Maintenance
- Managed Services
Market Breakup by Component
- Stop Valve
- Alarm Valve
- Fire Sprinkler Head
- Alarm Test Valve
- Motorized Alarm Bell
Market Breakup by Technology
- Active Fire Protection
- Passive Fire Protection
Market Breakup by End Use
Market Breakup by Region
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global fire sprinklers market. Some of the major players explored in the report by Expert Market Research are as follows:
- Johnson Controls
- APi Group
- Minimax USA LLC.
- Siemens AG
- Hochiki America Corporation
- Honeywell International Inc.
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