Fire Sprinkler Market Demand Makes Room for New Growth Story | Honeywell International, Johnson Controls, Minimax
Updated · Jun 04, 2023
Published Via 11Press : According to HTF MI, “Global Fire Sprinkler Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2029″. The Global Fire Sprinkler Market is anticipated to grow at a compound annual growth rate (CAGR) of 7.49% from 2023 to 2028, reaching USD 12.49 Billion in 2023 and USD 22.26 Billion by 2028.
A fire sprinkler, often referred to as a sprinkler head, is part of a fire sprinkler system that releases water when the signs of a fire are noticed, such as when a certain temperature is exceeded. Over 40 million sprinkler heads are deployed annually, and fire sprinklers are widely utilized worldwide. In structures that were properly planned and maintained, fire sprinklers alone were able to put out almost 99% of fires.
A sprinkler system, which is used in fire protection, prevents a building from catching on fire by automatically discharging water, often from pipes near the ceiling. The Parmelee sprinkler head was developed as a solution to this system’s frequent water damage to areas of a room or structure that had not experienced a fire. Any method or tool used to safeguard people and property from dangers including theft, fire, accidents, espionage, sabotage, subversion, and attack is referred to as a security and protection system.
Most security and protection measures give some hazards more weight than others. The main security issues in a retail setting, for instance, are stealing and staff dishonesty (such as theft, embezzlement, and fraud).
The specific categories to be protected include the personal safety of people who work for the company, such as employees, clients, or residents; tangible assets, such as the plant, hardware, finished goods, cash, and securities; and intangible items, such as highly confidential organizations or “proprietary” information (for example, trade secrets) of private organizations.
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Key and developing players who have been highlighted as part of the coverage
- Honeywell International Inc. (United States),
- Johnson Controls (United States),
- Minimax GmbH & Co. KG (Germany),
- API Group Inc. (United States),
- United Technologies Corporation (United States),
- Robert Bosch GmbH (Germany),
- Hochiki Corporation (Japan),
- Siemens AG (Germany),
- Viking Group Inc. (United States).
Major Developments Activities in the Market:
The ITM Division of Summit Fire & Security has been acquired by Pye Barker Fire & Safety, a top US supplier of fire safety goods and services, as of October 2021. With the purchase, Pye Barker hoped to expand its fire safety offerings into Montana and launch a new service line of sprinkler testing across the US.
The industry’s first smart fire sprinkler monitoring system, known as Open Supervised Device Protocol for wet chemical systems, will go live in November 2020, according to Johnson Controls, a global leader in building technology and solutions. In order to promote safety and reliability, the launch sought to offer a solution that is intelligent and offers real-time monitoring of fire sprinkler systems.
The global market for fire sprinklers is regulated by a number of regulations to guarantee that they are correctly built, installed, and maintained to maximize their effectiveness in the event of a fire.
The National Fire Protection Association (NFPA) has established standards for fire sprinkler systems and provides guidance for installing sprinkler systems in structures.
By regulating the usage of sprinkler systems and other fire safety precautions, the SHA (Occupational Safety and Health Administration) is in charge of making that workplace secure. To ensure a safe workplace and that fire sprinkler systems are installed and maintained properly, employers must adhere to OSHA regulations.
- The demand for sophisticated fire safety solutions is growing, as is knowledge of those solutions. To safeguard safety and lessen property damage, property owners are now making investments in fire protection equipment like sprinklers.
- The growth of the building and construction industry is the main factor driving the market for fire sprinklers.
- There is an increasing need for fire prevention systems, such as fire sprinklers, to meet building codes and standards.
- The market for fire sprinklers is expanding as a result of increased insurance regulations that mandate the installation of fire sprinkler systems in commercial buildings in order to reduce the risk of fire damage.
- Particularly in locations where traditional sprinkler systems would not be suitable, the use of water mist fire-suspending systems is growing in prominence.
- This innovation uses less water while being more effective at putting out fires. In an effort to decrease the adverse environmental effects of their products and services, firms are incorporating the trend and growing emphasis on sustainability into the fire sprinkler sector.
- Today’s fire sprinkler systems make use of recycled materials and the least amount of water possible. The systems are improved in terms of effectiveness and efficiency by minimizing damage and using less water thanks to advancements in their design and substance.
- The high installation costs for fire sprinkler systems may prevent their widespread use in buildings with tight budgets. Installation and upkeep of fire sprinkler systems require specialized and technical expertise.
- The global fire sprinkler market’s expansion is constrained by the lack of awareness of this information.
- Due to a lack of qualified people in the industry, businesses that seek to expand their operations may run into problems. In order to ensure proper operation and functioning, fire sprinkler systems also require ongoing maintenance and inspection.
- The potential global market expansion is constrained by larger systems, which can make this costly and time-consuming.
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Market Breakdown by Applications:
- Pre-action Sprinkler,
- Dry Sprinkler,
- Wet Sprinkler,
- Deluge Sprinkler
Market Breakdown by Types:
|The Market size value in 2023||USD 12.49 Billion|
|Revenue Forecast by 2033||USD 22.26 Billion|
|Growth Rate||CAGR Of 7.49%|
|Regions Covered||North America, Europe, the Middle East and Africa, Latin America, and the rest of the world|
|Short-Term Projection Year||2028|
To investigate the pertinent market dynamics in various parts of the world, HTF Market Intelligence has utilized a focused and practical research approach for the fire sprinkler industry.
Additionally, our experts do thorough analyses of specific geographic areas in order to give clients and companies the chance to excel in Fire Sprinkler Market niche markets and grow in developing nations.
The analysis of the global fire sprinkler market also demonstrates how the shifting player dynamics are influencing the market’s expansion. In addition, our market researchers thoroughly examine the goods and services provided by various companies in the fire sprinkler market that are vying for market dominance.
Customization in the Report
HTF Market Intelligence provides not only detailed market projections but also substantial value-added analysis on the following topics: – Market Maturity Indicators for Fire Sprinklers –
Analysis of New Entrants in the Fire Sprinkler Market & Entry/Exit Barriers –
Growth Drivers and Constraints in the Fire Sprinkler Market – To Seize Lucrative Market Chances –
An Objective View of Market Performance Indicators: Fire Sprinkler Industry Key Business Segments, Market Proposition, and Gap Analysis
Against this Challenging Backdrop, Fire Sprinkler Study Sheds Light on
The state of the Fire Sprinkler Market and its main features. HTF Market Intelligence analysts organized and conducted surveys of the companies in the fire sprinkler business to put an end to this. The resulting snapshot provides a platform for comprehending why and how the sector is likely to change. —
Future direction and growth trend of the fire sprinkler industry. Financial analysis, polls, and industry consultants are used to reach conclusions.
How can each organization in this broad group of competitors negotiate the Fire Sprinkler Market’s growing competitive landscape and adopt a business strategy to maintain and advance the position they may claim or seize the new addressable opportunity?
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Craig Francis (PR & Marketing Manager)
HTF Market Intelligence Consulting Private Limited
Phone: +1 434 322 0091
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