Fire sprinklers: Key market research findings
- Growing need to reduce GHG emission spurs market growth
- The Americas dominate the market geographically
- Key vendors – Hochiki, Minimax Viking, Tyco, and United Technologies
Technavio’s market research analysts predict the global fire sprinklers market to grow at a CAGR of more than 9% between 2016 and 2020. The demand for fire sprinklers is stimulated by the increasing demand to reduce the emission of greenhouse gasses (GHG). Fire sprinklers help reduce the amount of GHGs released into the environment from burning of materials in buildings and infrastructure. They also help to prevent fire-related deaths and in the conservation of water. During 2015, the Americas dominated the global fire sprinkler market by accounting for around 46% of the overall market share. Continuous encouragement from the US government for the installation of automatic fire sprinkler systems in buildings and the upgradation of the existing sprinkler systems by both the commercial and residential sector is expected to fuel growth in the fire sprinkler market in the Americas during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of fire sprinklers based on the product type.
“Recently, there has been an increase in the use of water-efficient fire sprinklers. Fire sprinkler manufacturers and construction companies focus more on the development and use of fire sprinklers that are water efficient. As a result, there is a large-scale adoption of techniques that can control the water consumption during its use. Pressure adjustment and reduction of the water sprayed by sprinklers by installing an automatic controller can help reduce wastage,” says Sunil Kumar Singh, Lead Analyst, Hardware & Semiconductor, Technavio Research.
By 2020, wet pipe sprinkler systems are projected to account for around 60% of the total market share. The wet system employs fixed fire sprinkler heads and sprinkler piping that is filled with pressurized water supplied from a dependable source at all times. These systems have a relatively low installation cost and can be modified easily during renovations. This simple, yet reliable system also involves low maintenance costs.
Hochiki, Minimax Viking, Tyco, and United Technologies are the leading vendors in the global fire sprinklers market. Owing to the presence of a number of small and large scale global firms and several smaller regional and local companies, the fire sprinklers market is highly fragmented. Since all fire sprinkler manufacturers compete to gain a greater share of the industry, the market appears to be highly competitive. Due to the increased level of competition in this market, the coming years will gradually witness market consolidation. Vendors mainly compete on the basis of product pricing, product capacity, breadth of their product line, training, support, and product delivery. To survive and succeed in this competitive industry, vendors have to distinguish their product and service offerings through clear and unique value propositions.
A more detailed analysis is available in the Technavio report, Global Fire Sprinklers Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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