Fire Sprinkler Systems Market size to increase by USD 8.46 billion during 2024-2028; Rise in development of infrastructure to drive the growth - Technavio

NEW YORK, Nov. 9, 2023 /PRNewswire/ -- The fire sprinkler systems market size is expected to grow by USD 8.46 billion between 2023 and 2028. However, the growth momentum of the market will progress at a CAGR of 13.77% during the forecast period. In our report, the market is segmented based on product (Deluge fire sprinkler systems, Wet pipe fire sprinkler systems, Pre-action fire sprinkler systems, and Dry pipe fire sprinkler systems), end-user (Commercial, Industrial, and Residential), and geography (APAC, North America, Europe, Middle East and Africa, and South America). The rise in the development of infrastructure drives the fire sprinkler systems market. Emerging economies, such as India and China witnessed a rapid increase in the urban population over the past decade and the increase in the global urban population has propelled infrastructure construction activities. 

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Key Highlights:

• The report recognizes the following as some of the key players in the fire sprinkler systems market: AI Fire LLC, API Group Corp., Cox Fire Protection Inc., Fields Fire Protection, G.w. Sprinkler A S, Grundfos Holding AS, HD Fire Protect Pvt. Ltd., HOCHIKI Corp., Honeywell International Inc., Johnson Controls International Plc, Kauffman Co., Midwest Automatic Fire Sprinkler Co., Minimax GmbH, NAFFCO FZCO, Pryor Automatic Fire Sprinkler Inc., Siemens AG, Siron Fire Protection, The Reliable Automatic Sprinkler Co. Inc., Victaulic Co., and SFP Holding, Inc.
• Fire Sprinkler Systems Market is fragmented in nature.
• Market to observe 12.72% YOY growth in 2024.

Market Dynamics:

Trend

• The augmented use of deluge systems is an emerging fire sprinkler systems market trend.
• Conventional fire systems are now being replaced with next-generation deluge systems, which are open nozzles.
• They are within the fire area and are opened simultaneously.
• Furthermore, deluge systems are increasingly being adopted in industrial facilities because of their effectiveness in extinguishing fires and not using a pipe with pressurized air.

Challenge

• The threat of substitutes challenges the fire sprinkler systems market.
• The threat is high, mainly originating from the threat of fire suppression systems.
• Furthermore, although the fire protection systems are similar, their working mechanisms are entirely different.
• Additionally, based on the type of fire hazard and code requirements, there is a fire sprinkler or fire suppression system solution to fit your facility's needs.

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Keg Segments:

The deluge fire sprinkler systems segment of the fire sprinkler systems market will be significant during the forecast period. The pipe system is empty until the deluge valve operates to dispense pressurized water from sprinklers in deluge systems. The installation of additional parts makes these systems more complex than wet and dry pipe systems. Most commonly, these systems are deployed in buildings and industrial parks.

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The Fire Protection System Market size is estimated to grow by USD 14,406.41 million at a CAGR of 7.07% between 2022 and 2027.

The fire pits market size is estimated to grow at a CAGR of 6.71% between 2022 and 2027. The market size is forecast to increase by USD 2,131.07 million.

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Product

Market Segmentation by End-user

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio