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The fire sprinkler systems market size is estimated to grow at a CAGR of 13.77% between 2023 and 2028. The market size is forecast to increase by USD 8,461.33 million. The growth of the market depends on several factors such as a decline in insurance expenditure, increased government support with regard to fire sprinkler installation and a rise in the development of infrastructure. Our report examines historic data from 2018 to 2022, besides analyzing the current market scenario.
Fire Sprinkler Systems Market Forecast 2024-2028
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In the realm of construction and urban planning, adherence to stringent fire safety regulations is paramount, driving the integration of technological advancements in building design and infrastructure. Compliance with building construction codes and thorough risk assessment are essential for ensuring the safety of occupants and properties, while meeting insurance requirements. Embracing environmental sustainability principles in construction practices addresses both safety and environmental concerns, aligning with evolving urbanization trends towards greener cities. Market analysts conduct thorough market growth and forecasting, providing insights into industry trends and opportunities for strategic decision-making based on accurate market forecasting. This encompasses various sectors including commercial buildings, the residential sector, and industrial facilities, reflecting the diverse landscape of construction and real estate development.
Market Driver- Rise in development of infrastructure
Emerging economies, such as India and China, have witnessed a rapid increase in the urban population over the past decade. The increase in the global urban population has propelled infrastructure construction activities such as the construction of residential buildings, roads, malls, and commercial properties. Urban areas have been expanding, in terms of area and height, with the growth in the urban population. The construction of high-rise buildings is encouraging fire sprinkler system manufacturers to respond to the increasing demand from the construction sector. These are essential devices at residential homes and buildings, restaurants, hotels and motels, and educational institutions. Even a small fire can be very hazardous to the people in these commercial spaces, owing to high footfall.
For instance, a fire accident at Delhi Coaching Institute resulted in the death of 22 students in June 2023. The government asked all the commercial spaces to strictly comply with fire safety standards after the incident. Thus, the growing number of fire incidents will drive the demand for fire sprinkler systems, which, in turn, is anticipated to drive the growth of the market in focus during the forecast period.
Market Trends- Augmented use of deluge systems
Conventional fire systems are now being replaced with next-generation deluge systems. A deluge is an open nozzle, which means all nozzles within the fire area are opened simultaneously. The triggering of the deluge system releases larger amounts of water, thereby making it easier to extinguish the fire. Deluge systems are increasingly being adopted in industrial facilities, owing to their effectiveness in extinguishing fires. A deluge system does not use a pipe with pressurized air. The water supply is provided through a deluge valve that opens automatically to detect smoke and heat. The detection system is installed in the same area as sprinklers.
Moreover, with the growing adoption of deluge systems, the need for wet and dry fire sprinkler systems will slowly be replaced. These deluge systems adopt open nozzles that have a large coverage area while extinguishing a fire. This will further lower the demand for fire sprinklers during the forecast period. Therefore, the adoption and incorporation of next-generation deluge systems will have a positive impact on the market during the forecast period.
Market Challenge- Threat of substitutes
The threat of substitutes in the market is high, mainly originating from the threat of fire suppression systems. Though the fire protection systems are similar, their working mechanisms are entirely different. The main difference between the two systems is that fire sprinkler systems use just water to douse or control the fire, whereas fire suppression systems use chemical, gaseous, or foam agents to suppress the fire. Despite their differences, the purpose of both fire sprinkler systems and fire suppression systems is to control or extinguish a fire.
Moreover, based on the type of fire hazard and code requirements, there is a fire sprinkler or fire suppression system solution to fit your facility's needs. This lack of demarcation leads to a high threat of substitutes to the global market during the forecast period.
In the realm of real estate and construction, various sectors such as commercial buildings, the residential sector, and industrial facilities are influenced by factors like the hospitality industry, healthcare facilities, educational institutions, and retail spaces. Meeting insurance requirements is essential for mitigating risks associated with property ownership and operation, while prioritizing environmental sustainability aligns with evolving urbanization trends towards greener and more efficient buildings. Thorough market growth analysis and market research and growth provide insights into industry trends and opportunities for strategic decision-making. By staying informed and adaptable to market dynamics, stakeholders can navigate the diverse landscape of real estate and construction with confidence.
The market share growth by the deluge fire sprinkler systems segment will be significant during the forecast period. In deluge systems, the pipe system is empty until the deluge valve operates to dispense pressurized water from sprinklers. Due to the installation of additional parts, these systems are more complex than wet and dry pipe systems. Deluge fire sprinklers are deployed in buildings and industrial parks.
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The deluge fire sprinkler systems segment was the largest and was valued at USD 2,500.68 million in 2018. The market is witnessing an increase in demand from industries such as aviation (aircraft hangars), power plants, and chemicals (chemical storage and processing). These systems are also used for exterior protection of high-value equipment crucial to the continuity of business operations such as high-value or long-lead-time-to-replace equipment. Thus, the growing demand for such systems in the end-user segment is expected to drive the growth of the deluge system segment of the market in focus during the forecast period.
Based on end-user, the market has been segmented into commercial, industrial, and residential. The commercial segment will account for the largest share of this segment.? The commercial sector includes office setups, shopping malls, airports, and hotels. The growth of construction activities will have a positive impact on the installation of fire sprinklers during the forecast period. In addition, another factor that will contribute to the growth in demand for fire sprinklers is the growing cruise industry, owing to the increased number of people opting for cruise travel as well as increased investments in the industry. This investment is expected to grow during the forecast period. The overall growth of the commercial sector will contribute to the new and retrofit demand for fire sprinklers during the forecast period, which in turn will drive the commercial segment of the market during the forecast period.
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APAC is estimated to contribute 48% to the growth by 2028. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. Rising investments in the real estate sector will boost the adoption of this in APAC. The construction market is at its peak in this region; economies are in constant demand for infrastructure projects, excelling in both quality and quantity. In APAC, the major contribution to infrastructural development is anticipated to arise from India and China. The real estate industry is growing in developing countries such as China and India in APAC. Investments are driven by infrastructure development, especially in the residential sector. A large number of people are likely to shift to urban dwellings in the next decade, leading to rapid urbanization and infrastructure developments.
In addition, rapid urbanization in most APAC countries, including India, China, Australia, and Japan, has led to growth in the construction market in APAC. With the growing corporate sector in APAC, corporate and office spaces are being filled at a rapid rate in Hong Kong, Bangkok, Shanghai, Dubai, Bengaluru, Tokyo, Beijing, Singapore, and Mumbai, among other cities. The expansion of the corporate sector in the region will facilitate the sales of fire sprinklers, thereby driving the regional market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AI Fire LLC - The company offers products such as wet sprinkler systems and dry sprinkler systems.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
AI Fire LLC, API Group Corp., Cox Fire Protection Inc., Fields Fire Protection, G.w. Sprinkler A S, Grundfos Holding AS, HD Fire Protect Pvt. Ltd., HOCHIKI Corp., Honeywell International Inc., Johnson Controls International Plc, Kauffman Co., Midwest Automatic Fire Sprinkler Co., Minimax GmbH, NAFFCO FZCO, Pryor Automatic Fire Sprinkler Inc., Siemens AG, Siron Fire Protection, The Reliable Automatic Sprinkler Co. Inc., Victaulic Co., and SFP Holding, Inc.
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The fire sprinkler systems market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Fire Sprinkler Systems Market Scope |
|
Report Coverage |
Details |
Page number |
172 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 13.77% |
Market Growth 2024-2028 |
USD 8,461.33 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
12.72 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 48% |
Key countries |
US, China, India, Germany, and Russia |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AI Fire LLC, API Group Corp., Cox Fire Protection Inc., Fields Fire Protection, G.w. Sprinkler A S, Grundfos Holding AS, HD Fire Protect Pvt. Ltd., HOCHIKI Corp., Honeywell International Inc., Johnson Controls International Plc, Kauffman Co., Midwest Automatic Fire Sprinkler Co., Minimax GmbH, NAFFCO FZCO, Pryor Automatic Fire Sprinkler Inc., Siemens AG, Siron Fire Protection, The Reliable Automatic Sprinkler Co. Inc., Victaulic Co., and SFP Holding, Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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