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Fire Suppression Equipment Market to Reach $32.9 Bn, Globally, by 2027 at 4.7% CAGR: Allied Market Research

- Rise in demand for fire protection systems across various industry domains, growth of automation in residential and commercial buildings, and rise in the number of in fire-related incidents in the oil & gas industry fuel the global fire suppression equipment market

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Allied Market Research

Sep 17, 2020, 09:15 ET

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PORTLAND, Ore., Sept. 17, 2020 /PRNewswire/ -- Allied Market Research published a report titled, "Fire Suppression Equipment Market by Equipment Type (Fire Detectors, Fire Alarms, Fire Suppressors, Sprinklers, nozzles, caps, control heads, and Others), Fire Type (Class A, Class B, Class C, Class D, and Class K/F), and Application (Commercial, Residential, Forest and Agriculture, and Industrial): Global Opportunity Analysis and Industry Forecast, 2020–2027."According to the report, the global fire suppression equipment industry was estimated at $24.9 billion in 2019, and is expected to hit $32.9 billion by 2027, registering a CAGR of 4.7% from 2020 to 2027.

Drivers, restraints, and opportunities-

Rise in demand for fire protection systems across various industry domains, growth of automation in residential and commercial buildings, and rise in the number of fire-related incidents in the oil & gas industry fuel the global fire suppression equipment market. On the other hand, higher installation and maintenance costs impede the growth to some extent. Nevertheless, high-end technological advancements and innovations in networking are expected to create lucrative opportunities in the industry.

COVID-19 impact-

  • Productions halt and decreased R&D investments across the world have impacted the global fire suppression equipment market negatively.
  • Nevertheless, relaxations are now being levied on the current regulations, which is expected to help the market to go back to its position soon.

Download Report Sample (286  Pages PDF with Insights) @ https://www.alliedmarketresearch.com/request-sample/7183

The fire suppressors segment to maintain the lion's share by 2027-

Based on equipment type, the fire suppressors segment contributed to more than half of the global fire suppression equipment market revenue in 2019 and is expected to rule the roost by the end of 2027. This is because they are easy to operate. At the same time, the fire detectors segment would register the fastest CAGR of 5.0% throughout the forecast period. Increase in instances of fires have led to strict regulations from government to equip and install proper fire safety measures. This factor has driven the segment growth.

The class A segment to dominate during the estimated period-

Based on fire type, the class A segment accounted for more than two-fifths of the global fire suppression equipment market share in 2019 and is projected to lead the trail till 2027, owing to increased class A fire incidences. The class B segment, on the other hand, would grow at the fastest CAGR of 5.0% from 2020 to 2027, due to growing fire incidences in industrial sites and storage areas.

Get detailed COVID-19 impact analysis on the Fire Suppression Equipment Market: https://www.alliedmarketresearch.com/request-for-customization/7183?reqfor=covid

North America to dominate in terms of revenue-

Based on region, North America garnered the major share in 2019, holding nearly half of the global fire suppression equipment market, owing to the presence of several regulations regarding fire protection and safety that are to be followed by residential, commercial and industrial sectors. Simultaneously, Asia-Pacific would manifest the fastest CAGR of 5.5% till 2027. Increasing number of manufacturing activities across emerging economies such as China and India fuels the market growth in the region.

Frontrunners in the industry-

  • Consilium AB
  • Seimens AG
  • Carrier Global Corporation
  • Halma plc
  • Semco Maritime A/S
  • Hochiki Corporation
  • Honeywell International Inc.
  • Johnson Controls
  • Gentex Corporation
  • Robert Bosch Gmbh

Interested in Procure Data? Visit Here: https://www.alliedmarketresearch.com/fire-suppression-equipment-market/purchase-options

Access AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/library-access

Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.

Avenue Library Subscription | Request for 14 days free trial of before buying:

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Similar Reports We Have:   

Fire-rated Doors Market: Global fire-rated doors market is expected to reach $60,129 million in 2027, growing at a CAGR of 6.1% from 2020 to 2027.

Fire Protection Systems Market: Global fire protection systems market is projected to reach $1, 31,274.5 million by 2027, registering a CAGR of 5.2% from 2020 to 2027.

Fire Hydrant Market : Global Fire Hydrant Market is projected to reach $1,574.5 million by 2027, registering a CAGR of 4.9 % from 2020 to 2027.

Automatic Fire Sprinklers Market : Global Automatic Fire Sprinkler Systems Market is projected to reach $1,148 million by 2023, growing at a CAGR of 10.6% from 2017 to 2023.

Smoke Detector Market: Global Smoke Detector Market is expected to reach $3,405.7 million in 2027, growing at a CAGR of 8.3% from 2020 to 2027.

Pre-Book Now with 12% Discount:

Fire Sprinkler Market: - Global Opportunity Analysis and Industry Forecast, 2020-2027  

Global Aerial Ladder Fire-Fighting Vehicle Market - Global Opportunity Analysis and Industry Forecast, 2020-2027

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact us:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285
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[email protected] 
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