DUBLIN, Dec. 24, 2015 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/x978rl/fire_sprinkler) has announced the addition of the "Fire Sprinkler Market by Type, Service, Component, Application, and Geography - Forecast to 2020" report to their offering.
The global market was valued at $6,470.99 Million in 2014 and is expected to reach $11,045.29 Million by 2020, at a CAGR of 9.36% between 2015 and 2020.
The fire sprinkler market has been gaining momentum over the last few years because of the increasing expenditure on fire protection by enterprises to prevent the loss of life and property. Various norms of government agencies for installing fire sprinklers in commercial, residential, and industrial areas are also expected to foster the growth of the market.
However, the high cost of installation of fire sprinklers and the lack of integrity in system interfaces are restraining the growth of the global market. The globalization of the market and rules and mandates for its installation in various sectors present a huge opportunity for the growth of the market.
There is a growing demand for fire sprinkler systems in various sectors, especially industrial, as there is a greater risk of fire hazard in this sector due to the presence of various flammables such as oil, gas, fuel, electricity, and many more. The said market in APAC is expected to grow at the highest CAGR of 10.37% between 2015 and 2020, mainly owing to the continuous growth and expansion of the construction and real estate sectors in the developing APAC countries.
Fire security is a major concern in this region due to which, there is a greater emphasis on the installation of fire sprinkler systems. Moreover, there are a large number of companies in the fire sprinkler market in this region who provide innovative solutions to address the fire safety related demands of the end-users.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Market By Type
8 Market By Component
9 Market By Application
10 Market, By Geography
11 Competitive Landscape
12 Company Profiles
- Hochiki Corporation
- Honeywell International, Inc.
- Johnson Controls
- Robert Bosch GmbH
- Siemens AG
- United Technologies Corporation
- VT MAK
For more information visit http://www.researchandmarkets.com/research/x978rl/fire_sprinkler
Laura Wood, +353-1-481-1716, email@example.com
SOURCE Research and Markets