According to the latest report by IMARC Group, titled “Fire Sprinklers Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024,” the global fire sprinkler market size reached US$ 9.9 Billion in 2019. A fire sprinkler is a component of the fire sprinkler system that discharges an appropriate amount of water to extinguish the fire and prevent it from reigniting. In case of a fire breakout, the air heats up and rises along the ceiling. Since the sprinklers are triggered by heat, a chain reaction is activated when the hot air reaches the sprinkler system. These systems are utilized across residential and commercial spaces to avoid any fire-related injuries or deaths. They serve as the first line of defense against the fire by providing sufficient time for people to escape the imminent danger by following the pre-approved evacuation plan of the particular building or space.
Global Fire Sprinklers Market Trends:
The global market is primarily driven by an increase in the construction of smart homes. These homes abide by the building codes of the respective countries, which mandate the installation of fire sprinkler systems. Additionally, the increasing demand for automation in the residential sector, along with rapid urbanization and improved living standards, is providing a thrust to the market growth. Moreover, technological advancements have led to the introduction of high-performance smart variants, which are gaining widespread popularity among users. These variants employ panic buttons, motion sensing technology and infrared monitoring sensors that send automated notifications to smartphones to alarm the users. The sales of mist fire suppression systems are also escalating across the globe, owing to the numerous advantages associated with their usage. These systems are highly efficient, have quicker activation rates, enable minimal water loss and have enhanced oxygen displacement capabilities. Furthermore, the adoption of these systems in high-risk industry verticals, including oil and gas, mining, and petrochemical, is also expected to create a positive outlook for the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 15.6 Billion by 2025, growing at a CAGR of around 7.8% during 2020-2025.
- On the basis of the product type, the market has been divided into wet pipe fire sprinklers, dry pipe fire sprinklers, deluge systems, pre-action systems and others. Among these, wet pipe fire sprinklers account for the majority of the market share.
- Based on the service, the market has been categorized into engineering services, installation, design maintenance, inspection, managed services and others. At present, installation services represent the leading segment.
- On the basis of the component, the market has been segregated into stop valve, alarm valve, fire sprinkler head, alarm test valve and motorized alarm bell.
- Based on the application, the market has been classified into commercial, residential and industrial applications, wherein the commercial segment dominates the market.
- On the basis of the technology, the market has been bifurcated into active and passive fire protection.
- On the geographical front, North America exhibits a clear dominance in the market. Other regions include Asia Pacific, Europe, Middle East and Africa, and Latin America.
- The competitive landscape of the market has also been examined in the report with the detailed profiles of the key players operating in the market. Some of these players include Honeywell International Inc., Johnson Controls, Inc., Minimax GmbH & Co. KG, APi Group, United Technologies Corporation, Robert Bosch GmbH, HOCHIKI Corporation, VT MAK, and Siemens AG.
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