According to Global Market Insights, Fire Suppression Market provides a comprehensive analysis of the Fire Suppression market segments, including their dynamics, size, growth, regulatory requirements, technological trends, competitive landscape, and emerging opportunities of global industry. This report also provides market landscape and market share information in the Fire Suppression industry.
In a bid to provide occupational health and safety to consumers and employees, various end use sectors such as hospitality, healthcare, educational, transportation, and offices are giving preference for fire suppression systems. Initially, most of the food service operators had not exactly depicted a willingness to implement fire suppression systems, however, to promote the usage of this safety feature, insurance companies have mandated the product deployment at commercial food service centers, which will considerably impact fire suppression market share.
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A report compiled by the National Fire Protection Association claims that in the U.S., a damage of USD 356 million was incurred due to fire accidents in hotels and other hospitality avenues, and in more than 50% of cases, fires sourced from cooking appliances were evidenced to be the primary reason behind property damage. The increasing awareness regarding the negative impact of incidences such as the aforementioned will fuel the demand for fire safety systems, thereby augmenting the revenue graph of fire suppression industry. As per estimates, U.S. fire suppression market size will surpass an installation of 150 million units by the end of 2024.
The prevalence of rapid industrialization across the prominent regions of the globe have had a favorable impact on fire suppression market trends, owing to increasing awareness among various employers coupled with the implementation of strict occupational safety norms. Regulatory organizations such as OSHA have been striving to ensure a safe environment for working professionals, by encouraging and assisting various industries in terms of training, research, education, and information about occupational health and safety, which is likely to propel fire suppression industry.
Pertaining to the benefits of fire suppression systems, many end user companies are renovating their existing fire protection systems, incorporating them with advanced technologies. Many manufacturers have also been developing innovation centers to provide flexible and effective services to consumers. Furthermore, it is prudent to mention that the emergence of advanced technologies such as IoT and AR are slated to considerably influence fire suppression market outlook over the coming years.
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Taking into account the surging adoption rate of fire suppression systems, the renowned giants in fire suppression industry have been partnering with vehicle manufacturers to provide vehicles equipped with factory-installed fire suppression technology. Barely a few months ago, Tyco Fire Protection Products signed an agreement with Caterpillar, one of the leading manufacturers of engines, mining, and construction equipment, to launch factory-made fire suppression technologies. This strategic collaboration is likely to favor the growth of the regional fire suppression market, as both companies possess skilled technical expertise and a strong customer base. Speaking of which, some of the prominent players in fire suppression industry are United Technologies Corporation, Bristol Fire Engineering, Amerex Corporation, Master Fire Prevention Ltd., TYCO, Firetronics, National Fire Equipment Ltd., Halma PLC., Lubrizol – International Fire Protection, Minimax Limited, SFFECO, and naffco.
Partial Chapter of the Table of Content
Chapter 2. Executive Summary
2.1. Fire suppression industry 3600 synopsis, 2013 – 2024
2.1.1. Business trends
2.1.2. Product trends
2.1.3. End-Use trends
2.1.4. Regional trends
Chapter 3. Fire Suppression Market Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 – 2024
3.3. Industry ecosystem analysis
3.3.1. Vendor matrix
3.4. Technology & Innovation landscape
3.5. Regulatory landscape
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3.6. Europe government expenditure on public order and safety, 2015
3.7. Fire hazards and accidents landscape for the U.S., 2016
3.8. Industry impact forces
3.8.1. Growth drivers
126.96.36.199. North America
188.8.131.52.1. Increasing fire hazards
184.108.40.206.2. Stringent government norms towards fire protection
220.127.116.11.1. Favorable government legislations and safety standards
18.104.22.168.2. Growing construction and refurbishment activities
22.214.171.124. Asia Pacific
126.96.36.199.1. Rapid industrialization and urbanization
188.8.131.52.2. Increasing awareness towards fire protection systems
184.108.40.206. Rest of World
220.127.116.11.1. Increase in infrastructural spending
3.8.2. Industry pitfalls & challenges
18.104.22.168. Lack of consumer awareness
3.9. Growth potential analysis
3.10. Porter’s analysis
3.11. Competitive landscape, 2016
3.11.1. Strategy dashboard
3.11.2. Mergers & acquisitions
3.12. PESTEL analysis