Fire Suppression System Market - Opportunity Analysis and Industry Forecast, 2020–2027
A07990 | Pages: NA | Feb 2021 | 57 Views | | |
Author(s) : NA | Tables: NA | Charts: NA | Formats*: | |
COVID-19
Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Fire Suppression System Market
Request Now !A fire suppression system is an engineered group of units that are built to extinguish fires through the application of a substance. Most commonly, a fire suppression system has built-in components that detect fires at the beginning stages through heat, smoke, and other warning signals. The global fire suppression systems market is expected to witness substantial growth, owing to rise in demand for fire protection and prevention system in the fire risk prone industries, including manufacturing, oil & gas exploration, and energy & power. Increase in awareness among organizations related to fire protection, including safeguarding the structure and minimizing human loss are expected to be the key drivers for the global fire suppression system market. In addition, stringent regulations supporting improved fire safety standards due to rise in disasters are expected to propel the market growth. Fire suppression system is used in power plants for fire protection in various locations, including control rooms, cable trays, coal handling, turbine areas, electrical equipment’s, boiler buildings, cooling towers, transformers, and fuel storage & 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 concentrated solar power plants to provide fire protection in solar field. It is also used in healthcare facilities, 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, rise in market competition to manufacture high-quality & cost-competitive products with improved efficiency is expected to be a major challenge for the fire suppression systems market growth.
Market scope and structure analysis:
Report Metric | Details |
Market size available for years | 2019–2027 |
Base year considered | 2019 |
Forecast period | 2020–2027 |
Forecast unit | Value (USD Million) |
Segments covered | Product, Services, Vertical |
Regions covered | North America (the U.S. and Canada), Europe (Germany, the UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM), and the Middle East and Africa |
Companies covered | Minimax, Cosco Fire Protection, Tyco Fire Protection Products, Amerex Corporation, Master Fire Preventions Ltd, National Fire Equipment Ltd, and Buckeye Fire Equipment |
COVID-19 scenario analysis:
- COVID-19 pandemic has shut-down the production of various products in the fire suppression system market, owing to the prolonged lockdown in major countries. This has hampered the growth of the fire suppression system market significantly from last few months, and is likely to continue during 2020.
- COVID-19 has already affected the sales of equipment and machinery in the first quarter of 2020, and is likely to cause a negative impact on the market growth during the year.
- The major demand for equipment and machinery was previously noticed from giant manufacturing countries, including the U.S., Germany, Italy, the UK, and China, which are badly affected by the spread of coronavirus, thereby halting the demand for equipment and machinery.
- Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on their cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans.
- Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond to immediate crises and find new ways of working after COVID-19.
Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
The fire suppression system market has several applications due to its high demand, thereby leading to the market growth.
Rise in demand for advanced technologies
Growing infrastructure activities particularly in developing countries are expected to augment the market growth over the forecast period. Rise in consumer awareness regarding fire safety coupled with mandatory building safety codes is likely to augment the fire suppression systems market growth. Rise in demand for advanced technologies related to automation of fire safety systems is anticipated to drive the 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
Fire concealment frameworks are fire insurance frameworks, which utilize a mix of dry synthetic substances and wet operators to control and stifle the fire. Most broadly utilized fire concealment framework is programmed with fire sprinkler framework, vaporous fire concealment, and consolidated airborne fire concealment. Fire sprinkler framework is the most generally utilized fire security framework inferable from its huge scope of use in industrial facilities, enormous business structures, schools, and medical clinics attributable to relatively low arrangement cost. The utilization of vaporous fire concealment and dense vaporized fire concealment is attributable to improved fire smothering capacities. Assembling enterprises utilize the largest amount of the fire concealment framework due to its huge scope of use in businesses, including car, steel, and concrete to help control the harm and loss of hardware. The oil & gas industry contributed a noteworthy piece of the overall industry due to huge scope of use in coastal & seaward fire assurance, gas plants, treatment facilities, and synthetic & petrochemical plants fire security.
Key segments covered:
Segments | Sub-segments |
Product |
|
Services |
|
Vertical |
|
Key benefits of the report:
- This study presents the analytical depiction of the fire suppression system market along with the current trends and future estimations to determine the future of the market
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the fire suppression system market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the fire suppression system market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years.ss
We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:
- Consistent, valuable, robust and actionable data & analysis that can easily be referenced for strategic business planning
- Technologically sophisticated and reliable insights through well audited and veracious research methodology
- Sovereign research proceeds that present a tangible depiction of marketplace
With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.
Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, web-casts and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators and relevant press releases for market estimates and forecast
Primary research
Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develops analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth and forecasts
Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:
- Chief executives and VPs of leading corporations specific to industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)
Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
Access from any device, anywhere
Clients can easily download both quantitative as well as
qualitative reports in PDF and excel formats.
REQUEST TOC/SAMPLE
Purchase Full Report of
Fire Suppression System Market- Opportunity Analysis and Industry Forecast, 2020–2027
- Online Only
-
$3,456$3,110 - Online cloud access only
- Restricted print, copy, paste & download
- Read only
- Free quarterly industry update
- Free report update (Within 180 days)
- Subscription model sign in
10%
Discount
- Data Pack
-
$3,840$3,456 - Restricted to one authorized user
- One print only
- Available in
Excel - Free quarterly industry update
- Free report update (Within 180 days)
- Subscription model sign in
10%
Discount
- Single User
-
$5,769$5,192 - Restricted to one authorized user
- One print only
- Available in Excel & PDF
- Free quarterly industry update
- Free report update (Within 180 days)
- Subscription model sign in
10%
Discount
- Five Users
-
$6,450$5,805 - Limited to five authorized users
- Print upto five copies
- Available in Excel & PDF
- Free quarterly industry update
- Free report update (Within 180 days)
- Subscription model sign in
10%
Discount
-
Enterprise
License/PDF -
$8,995$8,096 - Unlimited
within
company/enterprise - Available in Excel & PDF
- Free quarterly industry update
- Free report update (Within 180 days)
- Subscription model sign in
10%
Discount
- Library Membership
- $ 699/mo
- Published Content
E-access - Company Profiles
E-access - Newly Added Content Access
- 10 PDF
Downloads - 5 Excel Data
Pack Downloads - 250 Company Profiles PDF Downloads
-
Start reading.
Buy Now
This title and over 12,000+ are available on the Avenue Library. T&C*.
*Taxes/Fees, if applicable will be added during checkout. All prices in USD
Why Allied Market Research?
Infallible Methodology
To ensure high-level data integrity, accurate analysis, and impeccable forecasts
Analyst Support
For complete satisfaction
Customization
On-demand customization of scope of the report to exactly meet your needs
TARGETED MARKET VIEW
Targeted market view to provide pertinent information and save time of readers
Featured Reports
Get fresh content delivered
Get insights on topics that are crucial for your business. Stay abreast of your interest areas.
Why Allied Market Research?
Infallible Methodology
To ensure high-level data integrity, accurate analysis, and impeccable forecasts
Analyst Support
For complete satisfaction
Customization
On-demand customization of scope of the report to exactly meet your needs
TARGETED MARKET VIEW
Targeted market view to provide pertinent information and save time of readers