Press release
Global Fire Sprinklers Market To Be Driven By The Surge In Development Of Construction Industry In The Forecast Period Of 2021-2026
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter's Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
Historical Market Size (2020): USD 10 Billion
Forecast CAGR (2021-2026): 1%
Forecast Market Size (2026): USD 16 Billion
The growth in the global fire sprinklers market is induced by rapid expansion of the construction industry around the world as it leads to rise in demand for protection from fire. The increasing demand for domestic automation, as well as rapid development and improving living standards, are driving factors behind the industry's growth.
Additionally, the other factors responsible for the growth of the global fire sprinklers market are rise in smart buildings, technological advances, and environmental benefits. Governments across the globe are now imposing strict controls on fire sprinkler installations in both private and public entities.
Industry Definition and Major Segments
A fire sprinkler is a component of a sprinkler device that extinguishes the fire and prevents it from re-emerging with a proper volume of water. When a fire starts, the air condenses and rises to the ceiling. Since the sprinklers are powered by fire, as hot air hits the sprinkler, a chain reaction arises.
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Based on product type, the market is divided into:
Wet Pipe Fire Sprinklers
Dry Pipe Fire Sprinklers
Deluge Systems
Pre-Action Systems
Others
Based on service, the industry is segmented into:
Engineering Services
Installation
Design Maintenance
Inspection
Managed Services
Others
Based on component, the market can be categorised as:
Stop Valve
Alarm Valve
Fire Sprinkler Head
Alarm Test Valve
Motorized Alarm Bell
Based on technology, the market is divided into:
Active Fire Protection
Passive Fire Protection
Based on end-use, the market is divided into:
Commercial
Residential
Industrial
On the basis of region, the market is divided into:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Market Trends
The rise in smart home construction is the primary driver of the global fire sprinklers industry. Such homes adhere to the building codes of the countries in which fire sprinkler systems are installed. Furthermore, technological developments have resulted in the introduction of smart, high-performance models that are well-known by customers.
These models employ motion-sensing technology, panic buttons, and infrared security cameras to transmit instant alerts to users' smartphones. Sales of dung fire suppression systems are growing globally as a result of the various benefits associated with their use. Such systems have a high reliability, shorter activation times, less water leakage, and a greater potential for oxygen displacement.
Key Market Players
The major players in the market are Johnson Controls, APi Group, Minimax USA LLC., Siemens AG, Hochiki America Corporation, Honeywell International Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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