Overview
and Scope
An automatic fire suppression system is a specialized mechanism designed to
detect, control, and extinguish fires without human intervention. These systems
are essential for ensuring fire safety in diverse environments and responding
promptly to sudden increases in heat or fire incidents in buildings, vehicles,
or enclosed spaces where fire hazards could endanger lives or property.
Sizing and Forecast
The automatic fire suppression system market size has grown strongly in recent
years. It will grow from $16.60 billion in 2023 to $17.56 billion in 2024 at a
compound annual growth rate (CAGR) of 5.6%. The growth in the
historic period can be attributed to stringent safety regulations, increasing
awareness of fire hazards, growth in infrastructure development, demand for
property protection, insurance requirements, industrialization trends,
urbanization.
The automatic fire suppression system market size is expected to see strong
growth in the next few years. It will grow to $22.31 billion in 2028 at a
compound annual growth rate (CAGR) of 6.2%. The growth in the forecast
period can be attributed to adoption in emerging economies, rise in commercial
construction, focus on life and property safety, expansion of manufacturing
facilities, heightened emphasis on fire prevention, retrofitting in existing
buildings, integration with smart building systems. Major trends in the
forecast period include adoption of advanced detection technologies, expansion
of systems in commercial sectors, integration of smart sensors, growth in
demand for environmentally friendly agents, development of modular systems,
collaboration between providers and contractors, expansion in vehicle
applications, adoption of remote monitoring capabilities, increasing emphasis
on compliance..
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Segmentation & Regional Insights
The automatic fire suppression system market covered in this report is
segmented –
1) By Type: Engineered Fire Suppression Systems, Pre-Engineered Fire
Suppression Systems
2) By Application: CO2 Fire Suppression Systems, Water Fire Suppression
Systems, Clean Agent (Gaseous) Fire Suppression Systems, Aqueous (Foam) Fire
Suppression Systems, Other Applications
3) By End-Use Industry: Oil And Gas, Mining, Manufacturing, Automotive
North America was the largest region in the automatic fire suppression system
market in 2023. Asia-Pacific is expected to be the fastest-growing region in
the forecast period. The regions covered in the automatic fire suppression
system market report are Asia-Pacific, Western Europe, Eastern Europe, North
America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The increasing construction activities are expected to propel the growth of the
automatic fire suppression system market going forward. Construction activities
encompass a broad range of tasks and processes involved in creating, altering,
or renovating physical structures and infrastructure. Construction activities
are increasing due to population growth, urbanization, infrastructure
investment, and rising housing demand. Automatic fire suppression systems are
extensively used in construction settings to protect assets, equipment, and
personnel from fire hazards and rapidly detect and extinguish fires, minimizing
damage, injuries, and potential loss of life. For instance, in March 2024,
according to reports published by the United States Census Bureau, a US-based
government agency, construction spending surged from $1,825.7 billion in
January 2023 to $2,102.4 billion in January 2024, marking a substantial
increase of $276.7 billion. Therefore, increasing construction and industrial
activities are driving the growth of the automatic fire suppression system
market.
Key Industry Players
Major companies operating in the automatic fire suppression system market are
Hochiki Corporation, Siemens AG, United Technologies Corporation, Honeywell
International Inc., Johnson Controls International plc, Tyco International, The
Chemours Company, Minimax Viking GmbH, Halma plc, Gentex Corporation, Ansul
Incorporated, Rotarex SA, Amerex Corporation , Fike Corporation, Cosco Fire
Protection, Potter Electric Company, Grundfos Holding A/S, TOMCO2 Systems,
Heiser Inc., FireTrace Ltd., Robert Bosch GmbH, American Fire
Technologies, Janus Fire Systems, SEVO Systems, BlazeCut USA, Edwards Fire
Safety , Solberg Scandinavian AS
The automatic fire suppression system market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
.
.
.
27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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