Fire suppression systems market is expected to witness substantial growth owing to rising demand for fire protection and prevention system in fire risk prone industries including manufacturing, oil and gas exploration, energy & power.. Increasing awareness among organizations related to fire protection including safeguarding the structure and minimizing human loss are expected to be the key drivers for growth of global fire suppression market. In addition, stringent regulations supporting improved fire safety standards due to rising disasters are expected to propel market growth. Furthermore, growing infrastructure activities particularly in developing is expected to augment the market growth over the forecast period. Rising consumer awareness regarding fire safety coupled with mandatory building safety codes is likely to augment market growth. Rising demand for advanced technologies related to automation of fire safety systems is anticipated to drive market growth. In addition, construction of smart cities with wireless sensory networks is likely to simplify the automation process. Rise in demand for centralized protection system with advanced sensors and detectors connected through LAN/WAN networks is expected to propel the market growth owing to higher efficiency standards. Fire suppression systems are fire protection systems which uses a combination of dry chemicals and wet agents to control and extinguish the fire. Most widely used fire suppression system is automatic fire suppression system including fire sprinkler system, gaseous fire suppression and condensed aerosol fire suppression. Fire sprinkler system is the most widely used fire protection system owing to its large scale use in factories, large commercial buildings, hotels, schools and hospitals owing to comparatively low setup cost. in addition, use of gaseous fire suppression and condensed aerosol fire suppression is on a rise owing to improved fire extinguishing capabilities. Manufacturing industries accounted the largest market share for fire suppression system owing to its large scale use in industries including automotive, steel and cement to help control the damage and loss of equipment. Oil and gas industry contributed a significant market share owing to large scale use in onshore and offshore fire protection, gas plants, refineries, chemical and petrochemical plants fire protection. Fire suppression system is used in power plants for fire protection in various locations including control rooms, cable trays, coal handling, turbine areas, electrical equipments, boiler buildings, cooling towers, transformers and fuel storage and handling. In addition, fire suppression system is used in photovoltaic solar power plants to provide fire protection in switchgear rooms used in photovoltaic facility and in concentrated solar power plants to provide fire protection in solar field. Fire suppression system is also used in healthcare mainly in hospitals for protection against fire due to HVAC and electrical fire where the main focus is on safety of patients in the hospital. However rising market competition for manufacturing high quality and cost competitive products with improved efficiency is expected to be a major challenge for the market growth over the forecast period.
Europe accounted for largest market share for fire suppression system owing to stringent government rules and regulations supporting the installation of fire protection system in buildings. Stringent fire safety norms in Norway and UK have also pushed offshore oil and gas operators in the region to increase their investment to improve fire safety arrangements. Asia Pacific contributed to a significant market share owing to considerable growth in building infrastructure and rising investment in offshore development in the region. In addition, rising industrialization in emerging economies like India and China coupled with significant number of floating liquefied natural gas vessels proposed to be setup in Australia is expected to augment the global market for fire suppression system over the forecast period. Increasing oil and gas projects in Brazil and West Africa coupled with preplanned offshore projects initiated by governments of several economies is expected to augment global fire suppression system market growth.
Major players in fire suppression market include Consilium AB, Semco Maritime A/S, Marioff Corporation, Knowsley SK Ltd, Johnson Controls, Robert Bosch GmbH, Gentex Corporation, Halma PLC, United Technologies Corporation, VT MAK, Siemens AG, Tyco, Cooper Wheelock, Bosch Security System Inc., Napco Security Company Inc., Spectronics Corporation, SimplexGrinnell LP, Fenwal Controls Japan Ltd, Space Age Electronics Inc., RSG/Aames Security Inc., Signal Communications Corporation, Kalb Corp., Master Fire Prevention Systems, Inc., Modular Connections, LLC , EMTEQ, Inc. and Atomizing Systems, Inc.
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