According to the latest report by IMARC Group, titled "Fire Sprinklers Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the global fire sprinklers market reached a value of US$ 10.7 Billion in 2020. Fire sprinklers refer to a fire protection system that contains water, which activates once the sprinkler head reaches the activation temperature. They usually consist of pipes, a stop and alarm valve, and a fire sprinkler head that are commonly installed on the sidewalls or ceilings to spray high-pressure water over the flames to extinguish them during fire outbreaks. These systems are widely used across commercial and residential spaces in an attempt to reduce the risks of damage caused by fire. As a result, they are considered to be one of the safest methods for suppressing fire breakouts at an early stage, thus preventing the situation from escalating any further.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Fire Sprinklers Market Trends:
The global market is primarily driven by the increasing incidences of sudden fire outbreaks across numerous sectors. Along with this, the introduction of stringent safety norms by the governments of numerous countries in an attempt to reduce the risks of death or injury from a fire breakout is providing a boost to the market growth across the globe. Moreover, the widespread installation of fire sprinklers across sectors that are prone to fire accidents, such as mining, oil and gas and petrochemical industries, is acting as another major growth-inducing factor. Furthermore, the rising adoption of the product across public and private establishments is positively influencing the market growth. Additionally, various technological advancements, including the widespread integration of heat-proof sensors, the Internet of Things (IoT) technology, and alarms with fire sprinkler systems, are providing an impetus to the market growth. Other factors, including increasing investments in infrastructural development projects and the introduction of improved product variants in the market, are further contributing to the market growth. On account of the aforementioned factors, the market is anticipated to exhibit moderate growth during the forecast period (2021-2026).
- On the basis of the product type, the market has been segmented into wet pipe fire sprinklers, dry pipe fire sprinklers, deluge systems, pre-action systems and others.
- Based on the service, the market has been segregated into engineering services, installation, design maintenance, inspection, managed services and others.
- On the basis of the component, the market has been classified into stop valve, alarm valve, fire sprinkler head, alarm test valve and motorized alarm bell.
- Based on the application, the market has been categorized into commercial applications, residential applications and industrial applications.
- On the basis of the technology, the market has been bifurcated into active fire protection and passive fire protection.
- Based on the region, the market has been divided into North America, Asia Pacific, Europe, the Middle East and Africa and Latin America.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include Honeywell International, Johnson Controls, Minimax GmbH & Co. KG, API Group Inc., United Technologies Corporation, Robert Bosch GmbH, Hochiki Corporation, VT MAK, and Siemens AG.
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