Fire Suppression Market Potentially Worth $ 29.13 Billion by 2023

PUNE, India, July 30, 2018 /PRNewswire/ --

ReportsnReports.com adds Fire Suppression Market is estimated to be worth USD 22.97 billion in 2018 and is projected to reach USD 29.13 billion by 2023, at a CAGR of 4.87% between 2018 and 2023 driven by propelled by technological advancements and innovations in the construction industry; increasing policies, regulations, and government mandates; and increased damage to human life and property due to fire breakouts.

Browse 63 Market Data Tables and 46 Figures spread through 143 Pages and in-depth TOC on "Fire Suppression Market by Product (Fire Suppressors, Fire Detectors and Control Panels, Sprinklers, Nozzles, Caps, and Control Heads), Suppression Reagent, Sector (Residential, Commercial, Industrial), and Region - Global Forecast to 2023" http://www.reportsnreports.com/reports/1575869-fire-suppression-market-by-product-fire-suppressors-fire-detectors-and-control-panels-sprinklers-nozzles-caps-and-control-heads-suppression-reagent-sector-residential-commercial-industrial-and-region-st-to-2023.html .

Key players operating in the fire suppression market include Johnson Controls, United Technologies, Robert Bosch, Siemens, Halma, Hochiki, Firefly, Minimax Viking, Honeywell, and S&S Fire Suppression Systems. Key innovators in the market are EMS Security Group, Electro Detectors, Napco Security Technologies, Fike, and Gentex. Other key players are Noha Norway, Sterling Safety Systems, FireProTec, Fire Suppression Limited, and Encore Fire Protection.

The fire suppression market is projected to grow at the highest CAGR in RoW during the forecast period. The African fire sprinkler market has the potential to grow due to the development of power plants. For instance, the construction of coal-fired Amu Power plant in Kenya, coal-fired power plant in Ghana, gas-fired power station in Ressano Garcia, coal-fired independent power plant in South Africa, and peat-fired power plant in Southern Rwanda drives the installation of fire suppression systems. Further, there are many government initiatives fostering the growth of the fire suppression market in Africa.

Inquire for DISCOUNT on "Fire Suppression Market by Product (Fire Suppressors, Fire Detectors and Control Panels, Sprinklers, Nozzles, Caps, and Control Heads), Suppression Reagent, Sector (Residential, Commercial, Industrial), and Region - Global Forecast to 2023" research report at http://www.reportsnreports.com/contacts/discount.aspx?name=1575869 .

The market for fire detectors and control panels is expected to grow at the highest CAGR during the forecast period. Fire detectors and control panels (including smoke, heat, flame, and gas detectors) play an important part of fire safety. Fire detectors and control panels are especially used in homes for fire detection. As fires spread, the detector initiates the alarm and warns residents, giving them enough time to get to safety. According to NFPA, a working detector would reduce the chances of fatal fire accidents by 50%. Over 60% of all fire-related deaths happen in the residential space due to the absence of detectors. These devices typically cost ~USD 15-100 and need to be replaced every 10 years.

Fire suppression clean agents to lead fire suppression market between 2018 and 2023

Fire suppression clean agents are expected to account for the largest share of the fire suppression market during the forecast period. The gaseous suppression system is also known as clean agent suppression system that uses inert gases and chemicals to extinguish fire. Clean agent fire suppression systems are waterless and deploy immediately without leaving oily residue or water that can damage irreplaceable assets. Clean agent fire suppression systems use a gaseous agent rather than water to diffuse fires to minimize damage from a fire. These systems are ideal for data centers, manufacturing plants, healthcare offices, chemical storage facilities, museums, IT rooms, etc. These are available in different forms, such as carbon dioxide and FM 200.

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The breakup of the profiles of primary participants for the report has been given below. 

• By Company Type: Tier 1 - 60%, Tier 2 - 30%, and Tier 3 - 10%
• By Designation: C Level - 45%, D Level -30%, and Others - 25%
• By Region:North America -40%, Europe - 20%, APAC- 35%, and RoW- 5%

The Fire Suppression Market report analyzes and forecasts the market based on suppression reagent, product, sector, and geography. Byproduct, the market has been segmented into fire detectors and control panels; fire sprinklers, nozzles, caps, and control heads; and fire suppressors.

Another research titled Flare Monitoring Market Global Forecast to 2023 says, The flare monitoring market is estimated to grow from USD 842.3 million in 2018 to USD 1,251.7 million by 2023, at a CAGR of 8.24% between 2018 and 2023. The factors that drive the growth of the flare monitoring market include stringency in environmental regulations leading to growing need for controlling waste gas combustion parameters, benefits offered by remote flare monitoring systems, and steady expansion of oil, gas, and petrochemicals industries across the world. Companies such as Siemens (Germany), ABB (Switzerland), FLIR Systems (US), Thermo Fisher Scientific (US), Honeywell (US), John Zink Company, LLC (US), Luma Sense Technologies Inc. (US), Zeeco, Inc. (US), MKS Instruments (US), Land Instruments International Ltd. (UK), Eaton HERNIS Scan Systems AS (Norway), Fluenta (UK), Williamson Corporation (US), Extrel CMS, LLC (Pennsylvania, US), Providence Photonics LLC (US), Powertrol Inc. (US), and TKH Security Solutions (Netherlands) have been profiled in this 160 pages research report available at http://www.reportsnreports.com/purchase.aspx?name=1371628 .

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