Trends, opportunities and forecast in fire suppression market to 2026 by product type (chemical, gaseous, water, and foam based), by end use industry (industrial, commercial, transportation, and others), and by region (North America, Europe, Asia Pacific, and the Rest of the World).
New York, June 14, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Fire Suppression Market Report: Trends, Forecast and Competitive Analysis" - https://www.reportlinker.com/p06095157/?utm_source=GNW
The future of the fire suppression market looks promising with opportunities in the industrial, commercial, transportation, and residential markets. The fire suppression market is expected to reach an estimated $18.3 billion by 2026 with a CAGR of 4.4% from 2020 to 2026. The major drivers for this market are increasing fire incidents, stringency in fire safety norms, and growth in the construction industry.
An emerging trend, which has a direct impact on the dynamics of the industry, includes development of sound based fire extinguisher, video image smoke detector, and development of voice evacuation system. Johnsons Control, United Technology Corporation, Minimax, Robert Bosch, Halma PLC, Siemens, Hochiki, Firefly AB, Honeywell, Fike Corporation, and 3S Incorporated are among the major fire suppression system providers.
The study includes trends and forecast for fire suppression market by product type, end use industry, and by region as follows:
By Product Type [$M shipment analysis from 2015 to 2026]:
By End Use Industry [$M shipment analysis from 2015 to 2026]:
By Region [$M shipment analysis from 2015 to 2026]:
• North America
• United States
• United Kingdom
• Asia Pacific
• South Korea
• The Rest of the World
In this market, gaseous based suppression systems will emerge as the largest market due to higher effectiveness, faster response in extinguishing fire, and ability to leave no residue after fire suppression. Growing installation of carbon-dioxide and clean agent gas based suppression systems in the industrial and commercial applications will drive the market.
Industrial segment will remain the largest end use industry during the forecast period due to rapid industrialization in emerging economies, increasing demand of fire suppression systems in oil & gas, mining, and chemical industries, and strict fire safety regulation. Growing oil and gas projects in US, Africa, Kuwait, Russia, and Australia is expected to foster the demand for large scale installation of fire suppression systems in these projects.
Asia Pacific is expected to witness the highest growth over the forecast period supported by rapid industrialization, growing residential and commercial construction, and government regulation toward fire safety. China, India, and South Korea are expected to drive the demand for suppression system considering economic advancement and development projects in industrial and commercial sectors.
Some of the features of “Global Fire Suppression Market: Trends, Forecast and Competitive Analysis” Include:
• Market size estimates: Global fire suppression market estimation in terms of value ($M) shipment.
• Trend and forecast analysis: Market trends (2015-2020) and forecast (2021-2026) by product type and end use industry.
• Segmentation analysis: Global fire suppression market size by various segments, such as product type and end use industry
• Regional analysis: Global fire suppression market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth opportunities: Analysis on growth opportunities in different end use industries and regions for the fire suppression coating market.
• Strategic analysis: This includes M&A, new product development, and competitive landscape for fire suppression coating market.
• Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
This report answers following 11 key questions:
Q.1 What are some of the most promising, high-growth opportunities for the global fire suppression market by product type (chemical, gaseous, water, and foam based), by end use industry (industrial, commercial, transportation, and others), and by region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and reasons behind them?
Q.7 What are the changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via product substitution?
Q.11 What M&A activity has occurred in the last 5 years?
Read the full report: https://www.reportlinker.com/p06095157/?utm_source=GNW
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