With the emergence and long-term Impact of COVID-19, Global Fire Sprinkler Systems Market to reach USD 15.52 Billion by 2030
Bizwit Research & Consulting LLP’s Recent Analysis on Global Fire Sprinkler Systems Market is poised to raise up to USD 15.52 Billion by 2030. Fire sprinkler systems are active fire protection measures designed to suppress or extinguish fire in buildings or structures. These systems consist of a network of pipes, water supply, and sprinkler heads strategically placed throughout a building. The primary purpose of a fire sprinkler system is to control the spread of a fire, allowing occupants to evacuate safely and minimizing property damage.
Moreover, growing awareness among individuals, businesses, and governments about the importance of fire safety, growing rapid urbanization and infrastructure development, and growing construction industry that anticipated to create the lucrative demand for the market during forecast period 2023-2030. Moreover, technological integration with building management systems, and ongoing technological advancements in fire sprinkler system design and technology is anticipated to create lucrative opportunities for the market. However, the high cost of retrofitting fire sprinklers stifles market growth throughout the forecast period of 2023-2030.
Geographically, the global Fire Sprinkler Systems market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). North America dominated the market in 2022 with largest market share owing to the stringent building codes and regulations, supportive government initiatives and incentives, and the presence of key market players. Whereas, Asia Pacific region is expected to grow with the fastest growth rate during the forecast period, owing to factors such as the growing urbanization and infrastructure development, increased awareness and education, and increasing construction activities.
The global Fire Sprinkler Systems market is highly competitive owing to the presence of several key market players such as HD Fire Protect Pvt. Ltd., Honeywell HBT, Minimax GmbH & Co. KG, Potter Electric Signal Company, LLC, Rapidrop Global Ltd., and others.
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Key findings of the study suggest:
- Global Fire Sprinkler Systems Market is anticipated to grow with a healthy growth rate of more than 8.2% over the forecast period 2023-2030.
- In the Component segment, Product emerged out as the leading market segment in 2022.
- In the Product segment, Wet-pipe Sprinkler System emerged out as the leading market segment in 2022.
- North America is anticipated to drive regional growth owing to the stringent building codes and regulations, supportive government initiatives and incentives, and the presence of key market players.
- Asia-Pacific is expected to grow at higher rate followed by North America during 2023-2030.
Bizwit Research & Consulting has considered following segments for the study:
Component:
- Product
- Service
Product:
- Wet-pipe Sprinkler System
- Dry-pipe Sprinkler System
- Pre-action Sprinkler System
- Deluge Sprinkler System
End-use:
- Residential
- Commercial
- Industrial
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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