Global Fire Suppression Market 2017-2021

Overview of the fire suppression market

According to the fire protection market analysis, Technavio’s market research analyst has predicted that the global fire suppression market will witness exponential growth at a CAGR of more than 9% over the forecast period. The implementation of stringent fire safety regulations across most developed countries in North America and Western Europe is a major factor driving this market’s growth. Despite several measures to reduce the incidence of fires to minimize injuries and losses, the number of fire incidences has declined significantly since 2010. This has led to the various safety authorities at the local level to introduce stringent regulations and practices to minimize the destruction caused by fires considerably. For instance, in EMEA, in2016, disaster training exercises to spread awareness about fire safety were held in Europe. Also, the government of the UK passed a regulation that involved firefighters and police officers from London conducting a rescue operation and disaster management session for building collapses. Such programs assist countries in dealing with fire hazards in a better way and will, in turn, propel the growth prospects for the fire protection systems market until the end of 2021.

One of the recent fire protection industry trends gaining significant traction in the market is the increasing focus on the use of micro-environment fire suppression systems. These fire suppression systems are specially designed for application areas that are highly vulnerable to fire explosions. Enclosed areas such as server racks and electrical panels equipped with such fire suppression systems are deployed with the most advanced activation and fire detection technology, making the detection of the fire and the activation of the system extremely quickly. Such a system is not only highly reliable in dousing fire but also helps in protecting expensive equipment around the flame-lit area. The installation of such fire suppression systems will contribute to this market’s growth over the next four years.

Competitive landscape and key vendors

The global fire suppression market is characterized by the presence of fierce competition among the vendors. Intense competition, rapid technological advances, and frequent changes in consumer preferences are the significant risk factors for vendors in the market. This market is also witnessing consolidation because of the increased competition. Moreover, there is an increased influx of private labels in the market. Therefore, it becomes imperative for the vendors to distinguish their product and service offerings through a clear and unique value proposition to survive and succeed in this intensely competitive market. Vendors are also adopting advanced materials and technologies that enable them to offer high-performance products. Thus, competition is based on the technology applied and price.

Key vendors in this market are -

• Amerex
• BRK
• Tyco Fire Protection Products
• Minimax

Other prominent vendors in the market include ANAF, Buckeye Fire Equipment, Britannia Fire, Cosco Fire Protection, Douze It, Fire Fighter Industry, Globe Fire Sprinkler, Hochiki, Kidde, NAFFCO, Reliable Fire Sprinklers, Safex Fire, Strike First, and United Technologies.

Product segmentation and analysis of the fire suppression market

• Fire extinguishers
• Fire sprinklers

During 2016, the fire sprinklers segment accounted for the majority of market shares and will continue to lead the market in the coming years. The growing penetration of fire sprinklers in the industrial end-user segment such as the manufacturing, energy, power, mining, oil and gas industries and the commercial and residential segments will boost this segment’s growth until the end of 2021.

Geographical segmentation and analysis of the fire suppression market

• Americas
• APAC
• EMEA

In terms of geography, the EMEA region dominated the market and is anticipated to lead the market over the next four years. The fire suppression market in the region is witnessing moderate growth as the market in the region is reaching its maturity level. However, the market still has potential, especially in the residential sector. The Eastern European countries, where obsolete fire protection standards are still prevalent, is a potential market for fire suppression products. The growth of this market in the EMEA region is attributed to the presence of stringent fire safety regulations and awareness in the region. Moreover, increasing investments in the logistics and warehousing sector are also driving the fire suppression market in Europe.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global fire suppression market?
• What are the key market trends impacting the growth of the global fire suppression market?
• What are the challenges to market growth?
• Who are the key vendors in the global fire suppression market?
• What are the market opportunities and threats faced by the vendors in the global fire suppression market?
• What are the 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 fire suppression market?

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