Global Wet Fire Sprinkler Systems Market 2016-2020

Global outlook of the wet fire sprinkler systems market

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.

Competitive landscape and key vendors

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 -

• Global Fire Sprinkler
• Minimax Viking
• Reliable Automatic Sprinkler
• Siemens
• Tyco
• United Technologies

Segmentation by certification and analysis of the wet fire sprinkler systems market

• FM global (Factory Mutual Research Corporation)
• LPCB (Loss Prevention Certification Board)
• UL (Underwriters Laboratories)
• VdS (VdS Schadenverhütun)

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.

Geographical segmentation and analysis of the wet fire sprinkler systems market

• Americas
• APAC
• EMEA

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.

Key questions answered in the report include

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the global wet fire sprinkler systems market?
• What are the key market trends impacting the growth of the global wet fire sprinkler systems market?
• What are the challenges to market growth?
• Who are the key vendors in the global wet fire sprinkler systems market?
• What are the market opportunities and threats faced by the vendors in the global wet fire sprinkler systems market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global wet fire sprinkler systems market?

Technavio also offers customization on reports based on specific client requirement.

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