The fire sprinkler global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Fire Sprinkler Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The fire sprinkler market size has grown strongly in recent years. It will grow from $11.60 billion in 2023 to $12.42 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to increased construction of commercial and residential buildings, stringent fire safety regulations and building codes, increased awareness about fire safety and prevention, technological advancements in fire sprinkler systems, and growth in the renovation and retrofitting of older buildings.
The fire sprinkler market size is expected to see strong growth in the next few years. It will grow to $16.38 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to continued urbanization and infrastructure development, adoption of smart fire sprinkler systems with IoT integration, increasing investments in industrial and manufacturing facilities, expansion of green building initiatives and sustainable construction practices, rising demand for advanced fire protection in high-risk areas such as data centers and healthcare facilities. Major trends in the forecast period include the integration of smart technologies and IoT in fire sprinkler systems, the adoption of eco-friendly and water-saving sprinkler systems, high-pressure mist systems for fire suppression, automated and remote-controlled fire sprinkler systems, and hybrid fire suppression systems.
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Scope Of Fire Sprinkler Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Fire Sprinkler Market Overview
Market Drivers –
The increasing number of high-rise buildings is expected to propel the fire sprinkler market going forward. High-rise buildings are tall structures, typically over 75 feet (23 meters), designed to accommodate multiple floors for residential, commercial, or mixed-use purposes. The rise in high-rise buildings is driven by increasing urbanization, a need for efficient land use, and a demand for more space in densely populated areas, where vertical construction allows for maximizing limited land. Fire sprinklers in high-rise buildings provide critical fire suppression, enhancing safety by quickly controlling or extinguishing fires to protect occupants and property. For instance, in January 2024, according to the Council on Tall Buildings and Urban Habitat US-based non-profit organization, In 2023, a total of 177 buildings reaching a height of 200 meters or more were completed, marking a new milestone for tall building completions. Therefore, the increasing number of high-rise buildings will drive the fire sprinkler market.
Market Trends –
Major companies operating in the fire sprinkler market are focusing on developing innovative products such as Tamper-proof screws to protect internal components from being accessed or modified. Tamper-proof screws are specially designed fasteners that prevent unauthorized access or tampering, requiring specific tools for installation. For instance, in June 2022, WIKA Instruments India Pvt. Ltd., an India-based technology company, launched the FSFD model, a fire sprinkler flow detector. A fire sprinkler flow detector detects water flow in wet pipe sprinkler systems once the sprinkler is actuated. To eliminate false alerts produced by water surges, this innovative flow detector includes a pneumatic time delay mechanism that can be adjusted between 0 and 70 seconds. The FSFD model additionally has twin microswitches that signal the control panel and trigger local audio alarms, ensuring timely alerts in the event of a fire. Its tamper-proof screws secure the settings from illegal access, offering an additional layer of security.
The fire sprinkler market covered in this report is segmented –
1) By Type: Products, Services
2) By Component: Stop Valve, Alarm Valve, Fire Sprinkler Head, Alarm Test Valve, Motorized Alarm Bell
3) By Technology: Active Fire Protection, Passive Fire Protection
4) By Application: Residential, Commercial, Industrial
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Regional Insights –
North America was the largest region in the fire sprinkler market in 2023. The regions covered in the fire sprinkler market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the fire sprinkler market are Siemens AG, Honeywell International Inc., Johnson Controls International Plc, APi Group Inc., National Fire Fighting Manufacturing, Minimax GmbH &CO. KG, Victaulic Company, Pye-Barker Fire & Safety, LLC, Reliable Automatic Sprinkler Co. Inc., Cosco Fire Protection Inc, Potter Electric Signal Company LLC, Viking Group Inc., HD Fire Protect Pvt. Ltd., Vanguard Fire & Security systems, Hochiki Corporation, Star Fire Systems Private Limited, Fireman Safety Services Pvt. Ltd., Fire Sprinklers Inc., GW Sprinkler A/S, Siron Fire Protection< /b>
Table of Contents
1. Executive Summary
2. Fire Sprinkler Market Report Structure
3. Fire Sprinkler Market Trends And Strategies
4. Fire Sprinkler Market – Macro Economic Scenario
5. Fire Sprinkler Market Size And Growth
…..
27. Fire Sprinkler Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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