According to the report published by Allied Market Research, the global fire suppression equipment industry garnered $24.9 billion in 2019, and is estimated to reach $32.9 billion by 2027, manifesting a CAGR of 4.7% from 2020 to 2027. The report offers an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.
Growth in demand for fire protection systems across various industry domains, development of automation in residential and commercial buildings, and increase in the number of fire-related incidents in the oil & gas industry drive the global fire suppression equipment market. However, higher installation and maintenance costs hinder the growth to some extent. Moreover, high-end technological advancements and innovations in networking are anticipated to usher a plethora of opportunities in the near future.
Download Report Sample (286 Pages PDF with Insights) @ https://www.alliedmarketresearch.com/request-sample/7183
The global market is segmented based on equipment type, fire type, application, and region. Based on fire type, the class A segment dominated the market with more than two-fifths of the global fire suppression equipment market share in 2019 and is estimated to rule the roost throughout 2027. On the other hand, the class B segment is expected to manifest the fastest CAGR of 5.0% from 2020 to 2027.
Based on equipment type, the fire suppressors segment accounted for the highest market share with more than half of the global fire suppression equipment market revenue in 2019 and is expected to rule the roost by the end of 2027. However, the fire detectors segment is anticipated to manifest the fastest CAGR of 5.0% throughout the forecast period.
For Purchase Enquiry @ https://www.alliedmarketresearch.com/purchase-enquiry/7183
Region-wise, the fire suppression equipment market analysis is done across North America, Europe, Asia-Pacific, and LAMEA (Latin America, Middle East, and Africa). North America dominated the market share for 2019 owing to strict rules and regulation regarding fire safety and protection in the region. However, Asia-Pacific is expected to grow at a higher CAGR during the forecast period owing to rising awareness for fire safety and protection and increasing rules and regulations for the same
The key players operating in the fire suppression equipment market are Honeywell International Inc., Johnson Controls, Robert Bosch Gmbh, Seimens AG, Carrier Global Corporation, Consilium AB, Gentex Corporation, Halma plc, Hochiki Corporation, and Semco Maritime A/S.
Get detailed COVID-19 impact analysis on the Market: https://www.alliedmarketresearch.com/request-for-customization/7183?reqfor=covid
COVID-19 impact-
• The market has been impacted during the outbreak of covid-19, owing to productions halt and decreased R&D investments all across the world.
• The demand for fire suppression equipment has been decreased during the lockdown.
• However, various regions are undergoing relaxations on the current regulations, which would aid the market to resume with the manufacturing and other processes.
Key findings of the study
- Global fire suppression equipment market size is provided in terms of revenue
- By country, India is projected to grow at the highest CAGR of approximately 6.0%, in terms of revenue, during the forecast period.
- By fire type, the class B segment is anticipated to grow with CAGR 5.0%, in terms of revenue, during the forecast period.
- By application, the industrial segment is anticipated to grow with CAGR 5.0%, in terms of revenue, during the forecast period.
- By region, the U.S. and the UK dominated the market with a revenue share of over 32.0% and 7.4% in 2019 respectively.
- A comprehensive analysis of the factors that drive and restrain the fire suppression equipment market growth is provided
- The qualitative data in this report aims at the fire suppression equipment market trends, dynamics, and developments in the fire suppression equipment industry
- The fire suppression equipment market forecast and estimations are based on factors impacting the market growth
About us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.