According to Technavio’s latest market research study, the global fire suppression market is expected to grow at a CAGR of more than 9% during the forecast period, 2017-2021.
This report by Technavio provides an in-depth analysis of the global fire suppression market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
Technavio research analysts categorize the market based on the end-user type
Source: Technavio
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The top three revenue contributing end-user segments are discussed below:
Global fire suppression market for industrial end-users: The manufacturing, oil and gas, automotive, mining, and construction sectors account for a majority of the demand for fire suppression from industrial end-users. The rapid industrial growth across APAC, EMEA, and the Americas is anticipated to reflect positively on the growth of this market during the forecast period.
“Due to the increase in industrial hazards caused by various manufacturing processes, the norms subjected to regulations for this segment are much more stringent, thereby propelling the demand for fire suppression,” says Abhay Sinha, a lead analyst at Technavio.
Global fire suppression market for commercial end-users: The commercial end-user segment is the fastest growing segment. The commercial segment includes offices, restaurants, and malls. It accounts for 33% of the overall revenue of fire suppression products. The rising number of commercial establishments and congested spaces and subsequent increase in the threats of fire explosions are expected to foster the growth of this fire suppression market in the coming years.
Global fire suppression market for residential end-users: The residential end-user segment consists of residential housing units. The increase in the number of high-rise residential buildings is the driving force behind the demand for fire suppression products in the residential sector. The residential market is projected to experience growth at a higher pace due to the affordable housing policies laid out by the governments.
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The top vendors operating in the global fire suppression market are:
- Amerex
- BRK
- Tyco Fire Protection Products
- Minimax
Other prominent vendors in the market include ANAF, Buckeye Fire Equipment, Britannia Fire, Cosco Fire Protection, Douze It, Fire Fighter Industry, Globe Fire Sprinkler, Hochiki, Kidde, NAFFCO, Reliable Fire Sprinklers, Safex Fire, Strike First, and United Technologies.
A more detailed analysis is available in the Technavio report titled, ‘Global Fire Suppression Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Fire Hydrant Systems Market 2017-2021
- Global Airport Fire Safety Equipment Market 2017-2021
- Global Commercial Building Fire Extinguisher Market 2016-2020
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