Enjoy complimentary customisation on priority with our Enterprise License!
Technavio’s market research analysts have predicted that the global wet fire sprinkler systems market will grow steadily during the predicted period and post a CAGR of more than 9% by 2020. This industry research report identifies the growing awareness of the potential benefits of fire sprinklers to be one of the major factors that will have a positive impact on the growth of this market in the coming years. The installation of fire sprinklers is one of the easiest and most effective ways to reduce the loss of life and property, which has compelled the local government authorities to promote the use of fire sprinklers among commercial and residential building developers. The introduction of the regulations that insist on providing fire safety information and the benefits of fire sprinklers systems to students, demonstrations on the life-saving impacts of fire sprinklers, and the mobile application launched by the Illinois Fire Sprinkler Coalition to educate and create awareness about the benefits of home fire sprinklers will lead to a rise in their adoption in the coming years.
HI-FOG technology uses less water than traditional sprinkler systems and is based on the fast evaporation of water, which cools down the flame and surrounding gasses and also displaces oxygen locally. This helps to control the room temperature and also converts the droplet into steam, suppressing the fire. Moreover, the water damage from these water mist systems is comparatively low when compared to ordinary water sprinklers and will soon find significance in several end-user sectors such as machinery spaces, industrial pump rooms, turbine enclosures, and commercial kitchens.
The market is characterized by the presence of a few players who have a strong presence in the global market. The increasing demand from the government and commercial sectors to install fire sprinkler systems at minimum cost increases the competition among wet fire sprinkler manufacturers to offer products at a competitive price. The vendor competition in the market is moderate. Though vendors with a strong geographical presence and economies acquire maximum revenue shares, they face stiff competition from the local vendors who provide cost-effective wet fire sprinklers to residential customers. Owing to a rise in the number of households installing wet fire sprinkler systems, the competitive environment in the market will intensify in the coming years. Fire sprinkler companies have started increasing their investments in R&D to introduce innovative products and are also sponsoring various events organized by fire safety associations to establish their market presence and increase their geographical reach.
The key vendors in the market are -
During 2015, the UL certification segment accounted for more than 57% of the total market shares and dominated the market. This mainly attributes to the fact that the Underwriters Laboratories is one of the oldest organizations developing safety standards and is recognized by insurance companies all over the world, which has resulted in the majority of the vendors providing fire suppression systems with UL certification.
This market study predicts that in terms of geographical regions, the Americas will dominate the market throughout the forecast period and estimates the region to account for almost 42% of the total market shares by 2020. The growth of the construction industry in Mexico and continuous researches in the Americas aimed at improving the efficiency of fire sprinkler systems will propel the growth of the market. Canada, Mexico, and the US will be the major revenue contributors to the market in this region.
Technavio also offers customization on reports based on specific client requirement.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market analysis
PART 07: Market segmentation by application
PART 08: Geographical segmentation
PART 09: Impact of macroeconomic factors
PART 10: Market drivers
PART 11: Impact of drivers
PART 12: Market challenges
PART 13: Impact of drivers and challenges
PART 14: Market trends
PART 15: Vendor landscape
PART 16: Appendix
PART 17: Explore Technavio
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.