According to the latest report by IMARC Group, titled “Fire Sprinklers Market Report 2022: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast Till 2027”, the global fire sprinklers market reached a value of US$11.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$16.9 Billion by 2027, exhibiting at a CAGR of 6.7% during 2022-2027. A fire sprinkler is a component of the fire sprinkler system that discharges an appropriate amount of water to extinguish the fire and prevent it from reigniting. In case of a fire breakout, the air heats up and rises along the ceiling. Since the sprinklers are triggered by heat, a chain reaction is activated when the hot air reaches the sprinkler system. These systems are utilized across residential and commercial spaces to avoid any fire-related injuries or deaths. They serve as the first line of defense against the fire by providing sufficient time for people to escape the imminent danger by following the pre-approved evacuation plan of the particular building or space.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Market Trends:
The global market is primarily driven by an increase in the construction of smart homes. These homes abide by the building codes of the respective countries, which mandate the installation of fire sprinkler systems. Additionally, the increasing demand for automation in the residential sector, along with rapid urbanization and improved living standards, is providing a thrust to the market growth. Moreover, technological advancements have led to the introduction of high-performance smart variants, which are gaining widespread popularity among users. These variants employ panic buttons, motion sensing technology and infrared monitoring sensors that send automated notifications to smartphones to alarm the users. The sales of mist fire suppression systems are also escalating across the globe, owing to the numerous advantages associated with their usage. These systems are highly efficient, have quicker activation rates, enable minimal water loss and have enhanced oxygen displacement capabilities. Furthermore, the adoption of these systems in high-risk industry verticals, including oil and gas, mining, and petrochemical, is also expected to create a positive outlook for the market.
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Key Market Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Honeywell International
- Johnson Controls
- Minimax GmbH & Co. KG
- API Group Inc.
- United Technologies Corporation
- Robert Bosch GmbH
- Hochiki Corporation
- VT MAK
- Siemens AG
Breakup by Product Type:
- Wet Pipe Fire Sprinklers
- Dry Pipe Fire Sprinklers
- Deluge Systems
- Pre-Action Systems
- Others
Breakup by Service:
- Engineering Services
- Installation
- Design Maintenance
- Inspection
- Managed Services
- Others
Breakup by Component:
- Stop Valve
- Alarm Valve
- Fire Sprinkler Head
- Alarm Test Valve
- Motorized Alarm Bell
Breakup by Application:
- Commercial Applications
- Residential Applications
- Industrial Applications
Breakup by Technology:
- Active Fire Protection
- Passive Fire Protection
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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