Fire Suppression Equipment -Global Market Outlook (2020-2028)
According to Stratistics MRC, the Global Fire Suppression Equipment Marketis accounted for $24.90 billion in 2020 and is expected to reach $43.79 billion by 2028 growing at a CAGR of 6.7% during the forecast period due to the significant increase in fire related accidents especially in the oil & gas industry, commercial, residential, mining, healthcare and other sector is the major factorsdriving the market growth. However, a higher installation and maintenance cost is restraining the market growth.
Fire suppression equipment alert the environment about a hazardous situation, fire break out, or smoke by automatic or manual detection systems.
Based on application, the industrial segment is estimated to have a lucrative growth during forecast period owing to various manufacturing and production activities involve chemicals and machinery that are flammable and can lead to fires.By geography, North Americais going to have high growth during forecast period due to presence of several regulations regarding fire protection and safety that are to be followed by residential, commercial and industrial sectors.
Some of the key players profiled in the Fire Suppression Equipment Market include Consilium AB, Gentex Corporation, Halmaplc, Hochiki Corporation, Honeywell International Inc, Johnson Controls, Robert Bosch Gmbh, Seimens AG and Semco Maritime A/S Company.
Estimated Market Size in 2020:
USD 24.90 billion
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 43.79 billion
Tables, Graphs & Figures
Labeling Technique, Product, Application, End User, Treatment Type, Type, Method, Sales Channel and Region
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
Equipment Types Covered:
• Control Heads
• Fire Alarms
• Fire Detectors
• Fire Suppressors
• Class A
• Class B
• Class C
• Class D
• Class K/F
• Forest and Agriculture
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years (2019, 2020, 2021, 2025, and 2028)
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Fire Suppression Equipment Market is majorly driven by increase in fire related accidents especially in the oil & gas industry, commercial, residential, mining, healthcare and other sector.
The industrial segment is growing at a highest CAGR owing to growing fire incidences in industrial areas that have risen several concerns regarding the safety measures has propel the demand of fire suppression equipment in industrial segment.
Asia Pacific dominated with a significant market share due to the factors such as increasing number of manufacturing activities across emerging economies such as China and India cross the region.
North America market is growing at a highest CAGR owing to the presence of several regulations regarding fire protection and safety that are to be followed by residential, commercial and industrial sectors in the region.
Key players in Fire Suppression Equipment Market include onsilium AB, Gentex Corporation, Halmaplc, Hochiki Corporation, Honeywell International Inc, Johnson Controls, Robert Bosch Gmbh, Seimens AG and Semco Maritime A/S Company.
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