Global Fire Suppression Systems Market: Overview
Fire suppression systems are used to prevent or extinguish fires in buildings. General fire suppression agents or media are water, foam, carbon dioxide, steam, inert gases, and dry chemical powders. Fire suppression systems consist of fire detection alarm systems and extinguishing systems. Alarm systems and extinguishing systems are fixed installations. Fire detection alarm systems consist of heat detectors, temperature detectors, optical detectors, and flame detectors. Installation of fire suppression systems is made mandatory for buildings in many countries.
The global fire suppression systems market can be segmented based on product type, end-use, and region. In terms of product type, the fire suppression systems market can be classified into sprinkler, extinguisher hydrants, and others. Fire sprinkler has a heat sensing device; one end of the device is pointed toward the floor or the area most susceptible to fire, while the other end is connected to a series of network of pipes storing water. Water stored in pipes is usually kept at high pressure. When a fire breaks, the bulb inside the sprinkler burst and water flows through the sprinkler with high pressure directly on to the affected area. Fire sprinkler systems are designed to be automated; human intervention is not required.
Fire extinguishers are used to extinguish small fires. Fire extinguisher is a hand-held device that is operated manually. Two types of fire extinguishers are available in the market: cartridge operated and stored pressure. Cartridge type fire extinguishers contain expellant in a separate cartridge. Cartridge type of extinguishers are primarily used for industrial applications. In stored pressure fire extinguishers, the expellant is stored in the same chamber of the extinguisher. Stored pressure is the commonly used fire extinguisher in residential, commercial, and industrial applications. Fire hydrants are firefighting systems fixed around buildings. Water is stored in a well, and fire hydrant systems are connected to the well with pipes and valves. Fire hydrant systems are also operated manually. The sprinkler segment holds major share of the fire suppression systems market.
In terms of end-use, the fire suppression systems market can be segregated into residential, commercial, and industrial. The residential segment offers lucrative opportunities to the fire suppression systems market.
In terms of region, the fire suppression systems market can be split into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America held the major share of the fire suppression systems market owing to the implementation of government regulations regarding the safety of the public. The market in Asia Pacific is projected to expand at a fast-paced CAGR during the forecast period owing to the growth in the building & construction industry in the region. China accounts for significant share of the fire suppression systems market in Asia Pacific. It is followed by India. This trend is likely to continue throughout the forecast period.
Global Fire Suppression Systems Market: Key Players
Key players operating in the global fire suppression systems market are Minimax, Cosco Fire Protection, Tyco Fire Protection Products, Amerex Corporation, Master Fire Preventions Ltd, National Fire Equipment Ltd, and Buckeye Fire Equipment.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.