Market Overview

$29.13 Bn Fire Suppression Market Analysis 2018 - Global Forecast to 2023

Share:

$29.13 Bn Fire Suppression Market Analysis 2018 - Global Forecast to 2023

PR Newswire

DUBLIN, July 25, 2018 /PRNewswire/ --

The "Fire Suppression Market by Product (Fire Suppressors, Fire Detectors and Control Panels, Sprinklers, Nozzles, Caps, and Control Heads), Suppression Reagent, Sector (Residential, Commercial, Industrial), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

Research and Markets Logo

The fire suppression market is estimated to be worth USD 22.97 billion in 2018 and is projected to reach USD 29.13 billion by 2023, at a CAGR of 4.87% between 2018 and 2023.

Key factors such as technological advancements and innovations in the construction industry; increasing policies, regulations, and government mandates; and increased damage to human life and property due to fire breakouts are driving the fire suppression market growth. The fire suppression market has been segmented on the basis of suppression reagent, product, sector, and geography.

FM200 (fire suppression reagent) accounted for the largest market size in 2017. FM200 is a clean, colorless, and environmentally friendly fire suppression agent that is electrically nonconductive and safe for humans. It extinguishes flame primarily through heat absorption, leaving no residue, and thus minimizing downtime after a fire. FM200 agent is stored in a cylinder as a liquid and pressurized with nitrogen, which makes it a highly compact fire suppression system.

The use of FM200 does not affect aluminum, brass, steel, cast iron, lead, stainless steel, copper, etc., as well as rubber, plastic, and electronic components. Due to this, it is used in telecommunication facilities, computer rooms, control rooms, museums and art galleries, historical archive storage, and pharmaceutical and medical facilities.

Oil & gas and mining accounted for the largest market size in 2017. Fire breakouts in offshore oil platforms, oil pumping stations, refineries, gasoline storage tanks, compressor stations, gas processing plants, and liquefied natural gas receiving facilities could become unmanageable due to harsh environments and remote locations. Thus, fire suppression systems are in high demand for installation in oil & gas to prevent such fire breakouts.

Asia Pacific held the largest share of the fire suppression market in 2017. Growing urbanization in this region has increased construction activities, contributing significantly to the growth of the fire suppression market. The expansion of the manufacturing base in Asian countries has also led to the growth of the fire suppression market.

China Fire Protection Association, Fire and Security Association of India (FSAI), and Japan Fire Retardant Association (JFRA) have developed fire safety norms. HOCHIKI, Nittan Company, Nitin Fire Protection Industries, Firetronics, Ningbo DSW International, Yamato Protec, and Nohmi Bosai are some of the companies in APAC that manufacture, design, install, and maintain fire suppression systems.

Major factors restraining the fire suppression market growth are high installation and maintenance costs of fire suppression systems and the lack of integrity in system interfaces.

Major companies in the fire suppression market are Johnson Controls, United Technologies, Robert Bosch, Siemens, Halma, Hochiki, Firefly, Minimax Viking, Honeywell, and S&S Fire Suppression Systems. Key innovators in the market are EMS Security Group, Electro Detectors, Napco Security Technologies, Fike, and Gentex.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Fire Suppression Market
4.2 Fire Suppression Market, By Product (2018-2023)
4.3 Market, By Suppressionreagent (2018-2023)
4.4 Fire Suppression Market, By Sector (2018-2023)
4.5 Key Regions to Invest in During Forecast Period

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Technological Advancements and Innovations in Construction Industry
5.2.1.2 Increasing Policies, Regulations, and Government Mandates
5.2.1.3 Increased Damage to Human Life and Property Due to Fire Breakouts
5.2.2 Restraints
5.2.2.1 High Installation and Maintenance Costs of Fire Suppression Systems
5.2.2.2 Lack of Integrity in System Interfaces
5.2.3 Opportunities
5.2.3.1 Improvement in Hmi Solutions
5.2.3.2 Amendments in Rules and Mandatory Standards
5.2.4 Challenges
5.2.4.1 Declining Prices of Oil & Gas

6 Fire Suppression Market, By Product
6.1 Introduction
6.2 Fire Detectors and Control Panels
6.3 Fire Sprinklers, Nozzles, Caps, and Control Heads
6.4 Fire Suppressors

7 Fire Suppression Market, By Suppression Reagent
7.1 Introduction
7.2 Chemical
7.2.1 Dry Chemical
7.2.2 Wet Chemical
7.3 Gaseous
7.3.1 Clean Agent
7.3.1.1 Carbon Dioxide (CO2) Clean Agent Fire Suppression System
7.3.1.2 FM200 Clean Agent Fire Suppression System
7.3.1.3 Other Clean Agent Fire Suppression Systems
7.4 Water
7.4.1 Water Mist
7.5 Foam
7.5.1 Foam Water

8 Fire Suppression Market, By Sector
8.1 Introduction
8.2 Residential
8.3 Commercial
8.3.1 Telecommunications and Data Center
8.3.2 Healthcare
8.3.3 Government
8.3.4 Academic and Institution
8.3.5 Hospitality
8.3.6 Banking, Financial Services, and Insurance (BFSI)
8.3.7 Retail
8.4 Industrial
8.4.1 Manufacturing
8.4.2 Oil & Gas and Mining
8.4.3 Energy & Power
8.4.4 Transportation & Logistics

9 Geographic Analysis
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 UK
9.3.2 France
9.3.3 Germany
9.3.4 Rest of Europe
9.4 Asia Pacific
9.4.1 China
9.4.2 Japan
9.4.3 India
9.4.4 Australia
9.4.5 Rest of APAC
9.5 Rest of the World (RoW)
9.5.1 Middle East & Africa
9.5.2 South America

10 Competitive Landscape
10.1 Overview
10.2 Market Player Ranking Analysis
10.3 Competitive Situations & Trends
10.3.1 Agreements, Contracts, Collaborations, and Mergers, 2015-2017
10.3.2 Product Launches and Developments, 2015-2017
10.3.3 Expansions, 2015
10.3.4 Acquisitions, 2015-2017

11 Company Profiles
11.1 Key Players
11.1.1 Johnson Controls
11.1.2 United Technologies
11.1.3 Robert Bosch
11.1.4 Siemens
11.1.5 Halma
11.1.6 Hochiki
11.1.7 Firefly
11.1.8 Honeywell
11.1.9 Minimax Viking
11.1.10 S&S Fire Suppression Systems
11.2 Key Innovators
11.2.1 EMS Security Group
11.2.2 Electro Detectors
11.2.3 Napco Security Technologies
11.2.4 Fike
11.2.5 Gentex
11.3 Other Key Players
11.3.1 Encore Fire Protection
11.3.2 Noha Norway
11.3.3 Sterling Safety Systems
11.3.4 Fireprotec
11.3.5 Fire Suppression Limited

For more information about this report visit https://www.researchandmarkets.com/research/l26l4c/29_13_bn_fire?w=5

Media Contact:


Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com   

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

 




Cision View original content:http://www.prnewswire.com/news-releases/29-13-bn-fire-suppression-market-analysis-2018---global-forecast-to-2023--300686313.html

SOURCE Research and Markets

View Comments and Join the Discussion!