The global fire suppression system market size is expected to reach USD 31.64 billion by 2032, according to a new study by Polaris Market Research. The report “Fire Suppression System Market Share, Size, Trends, Industry Analysis Report, By Product (Fire Extinguisher, Fire Sprinkler); By Fire Extinguisher Type; By Application; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Increased fire safety concerns in a variety of end-use industries, such as the commercial, industrial, and residential sectors, as well as government regulations requiring the installation of fire suppression systems in specific buildings and facilities are some of the factors driving the market.
Technological advancements in fire suppression systems, such as the development of smart fire suppression systems and the integration of these systems with building management systems, also drive market growth. For instance, in August 2022, in order to increase building and human safety, Honeywell has announced the release of the Morley MAx fire detection and alarm system. Installers and end users may take advantage of a highly sophisticated variety of capabilities that are simple to install, commission, and maintain thanks to the intelligent fire alarm control panel's small size, power, and performance focus
Have Questions? Request a sample or make an Inquiry before buying this report by clicking the link below: https://www.polarismarketresearch.com/industry-analysis/fire-suppression-system-market/request-for-sample
Additionally, the increasing adoption of fire suppression systems in the transportation sector, particularly in aircraft and trains, also drives market growth. For instance, in November 2022, the trial run for Delhi-Meerut Regional Rapid Transit System (RTSS) were done.It will become operational by 2025. Each coach of the RTSS will be fitted with an intercom, CCTV camera, fire and smoke detector, fire extinguisher and an exterior camera.
There were a variety of changes to the fire suppression industry during the COVID-19 pandemic. Due to the suspension of industrial and building activities, demand decreased dramatically during the first several months of the lockdown. This was eventually compensated for by the removal of limitations. On the residential and commercial fronts, however, demand grew as hospitals and houses-imposed fire safety measures to reduce the likelihood of fatalities in the event of accidents.
Fire Suppression System Market Report Highlights
Polaris Market Research has segmented the Fire Suppression System Market report based on product, fire extinguisher type, application, and region:
Fire Suppression System, Product Outlook (Revenue - USD Billion, 2019 - 2032)
Fire Suppression System, Fire Extinguisher Type Outlook (Revenue - USD Billion, 2019 - 2032)
Fire Suppression System, Application Outlook (Revenue - USD Billion, 2019 - 2032)
Fire Suppression System, Regional Outlook (Revenue - USD Billion, 2019 - 2032)