According to the latest report by IMARC Group, titled "Fire Sprinklers Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028," the global fire sprinklers market reached a value of US$ 12.2 Billion in 2022. Fire sprinklers are an active fire protection method, providing sufficient pressure and flow rate to a water distribution piping system upon which the fire sprinklers are connected. They are generally installed as per building codes or recommended by insurance companies to lower property losses or business interruption. The main component of a fire sprinkler system discharges water when the fire is detected. It is a principal fire protection component used in several places, such as residential or commercial buildings, hospitals, factories, office spaces, schools, colleges, and sports stadiums, to protect assets and human lives. It can detect fire at the initial stage and, therefore, restrict the spread of fire with minimal water usage. The system installed on ceilings comprises a water source, sprinkler head, and a pipe for water distribution. The fire sprinkler automatically releases water from the pipe when the fire is detected. The essential components of a fire sprinkler system include an alarm test valve, alarm valve, fire sprinkler head, mechanized alarm bell, and stop valve.
Global Fire Sprinklers Market Trends:
The global market is majorly driven by significant growth in the construction industry. In line with this, the rising concerns regarding workers' safety at construction sites significantly contributes to the market growth. Furthermore, rapid technological advancements, such as BIM (building information modeling), the Internet of Things (IoT), alarms, and advanced sensors, are offering numerous growth opportunities in the market. Apart from this, several governments worldwide are enforcing stringent regulations on fire sprinkler installations in public and private establishments, which, in turn, is creating a positive outlook for the market. Moreover, the growing smart home construction and the increasing demand for domestic automation are catalyzing the market. Besides, the improved standards of living are propelling the market expansion. Additionally, the escalating need to safeguard life and the environment from fire emergencies is favoring the product adoption. Some of the other factors driving the market include considerable growth in the real estate industry and the augmenting awareness regarding decreased insurance expenditure. On account of the factors above, the market is anticipated to reach a value of US$ 18.0 Billion by 2028, exhibiting a CAGR of 6.6% during 2023-2028.
- On the basis of the product, the market has been categorized into wet pipe fire sprinklers, dry pipe fire sprinklers, deluge systems, pre-action systems, and others.
- Based on the service, the market has been classified into engineering services, installation, design maintenance, inspection, managed services, and others.
- Based on the component, the market has been segmented into stop valves, alarm valves, fire sprinkler heads, alarm test valves, and motorized alarm valves.
- Based on the application, the market has been divided into commercial, residential, and industrial applications.
- Based on the technology, the market has been categorized into active fire protection and passive fire protection.
- On the basis of the region, the market has been divided into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market. Some of the key 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.
|Base Year of the Analysis
||Product Type, Service, Component, Application, Technology, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||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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