Title: Fire Suppression Market to surpass USD 16 billion by 2024
1Fire Suppression Market Global Industry
Analysis Report, Share, Growth, Price Trends and
Forecast, 2024 Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
2Key Insights from Fire Suppression Market
- Growing commercial floorspace along with
introduction of safety codes and standards will
stimulate the product penetration. - As per American Chemistry Council, the fire codes
set by NFPA and IFC states that all areas with
upholstered furniture including healthcare
facilities and educational institutes must have
sprinkler system installed. - U.S. is projected to reach over annual
installation of 150 million units by 2024. - Upsurge in construction industry along with
technological advancement in the product design
and development will embellish the U.S. fire
suppression market share. Increasing demand for
environment friendly, less toxic, automatic and
new generation systems will propel the product
growth.
3 Continued...
- Germany fire suppression market is set to
experience substantial growth on account of
enhancement and improvisation of safety
standards. - China fire suppression market is set to witness
growth over 3 by 2024. Expansion of industrial
and commercial sector along with growing measures
to reduce the fire accidents will positively
influence the business landscape. - Notable players in global fire suppression market
include TYCO, United Technologies Corporation,
Minimax, Lubrizol, Bristol Fire Engineering,
Halma PLC, SFFECO, Firetronics, NAFFCO, Master
Fire Preventions Ltd., National Fire Equipment
Ltd. and Amerex Corporation.
4U.S. Fire Suppression Market, By End-Use, 2016
2024 (Million Units)
5Industry Coverage
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7360 Analysis
- Product Analysis
- Increasing expenditure towards safety primarily
across industrial and commercial establishments
will drive the fire extinguisher market. Varying
capacity, diverse chemicals and portability are
some of the key parameters which will make its
adoption preferable over the forecast timeframe. - Regional Analysis
- China market is set to reach over 80 million
units by 2024. Expansion of manufacturing
industry coupled with increasing investments
toward advanced building technologies will propel
the business outlook. - UK market share is set to witness growth over 3
by 2024. Stringent government policies and norms
toward safety across industrial, commercial and
residential sector along with adoption of smart
building technologies will drive the business
outlook. - Competitive Market Share
- Eminent players in fire suppression market
include Amerex Corporation, TYCO, National Fire
Equipment Ltd., United Technologies Corporation,
Master Fire Preventions Ltd., Minimax, NAFFCO,
Lubrizol, Firetronics, Bristol Fire Engineering,
SFFECO and Halma PLC.
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