Global Fire Suppression System Market Report and Forecast 2024-2032

Global Fire Suppression System Market Outlook

The global fire suppression system market size reached a value of around USD 24.51 billion in 2023. The market is further expected to grow at a CAGR of 5.20% between 2024 and 2032, reaching a value of around USD 38.46 billion by 2032.

Key Trends in the Market

A fire suppression system is designed to suppress or extinguish fire in a particular area, using materials such as water, gas, or foam, depending upon fire type and use. These systems are used to control fire, and prevent it from spreading in any direction, due to which they are commonly used in larger spaces.

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• The demand for fire suppression systems is increasing as a result of the growing use of smart building technologies and development of modern structures. Fire suppression systems increase the safety and security of modern structures, protecting various building systems including HVAC, lighting, and smart building technology, which is increasing the fire suppression system market demand.

• Rising demand from a number of industries, including oil and gas, chemical, and energy, is one of the key fire suppression system market trends fuelling the market expansion. Due to the high danger of fire accidents and stringent safety rules in these sectors, these solutions are generally adopted.

• The increasing significance of fire safety compliance in high-rise structures, industrial settings, and commercial sectors is further propelling the fire suppression system market growth. The market is anticipated to expand significantly during the forecast period as a result of increased fire incidences and growing consumer concerns about safety.

Global Fire Suppression System Market Analysis

Based on product, the market is bifurcated into fire extinguisher and fire sprinkler. On the basis of fire extinguisher type, the market is segmented into water-based, gas-based, and foam-based. The fire suppression system market segmentation, based on application, is commercial, industrial, and residential. The regional markets for fire suppression systems are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model, along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global fire suppression system market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.

• Johnson Controls International PLC

• Fike Corporation

• Honeywell International Inc.

• ORR Protection Systems, Inc.

• Siemens AG

• Hochiki Corporation

• Firetrace International, LLC

• Carrier Corporation

• Minimax USA LLC.

• Halma Plc

• Others

Global Fire Suppression System Market Share by Product

The fire extinguisher product segment accounts for a sizable share of the market for fire suppression systems due to their effectiveness in extinguishing fires, including direct flames. When a fire breaks out, fire extinguisher systems can provide security without endangering or breaking precious equipment, papers, or valuables. Particularly in larger spaces, fire extinguishers can be used in a concentrated manner to target fire and prevent its spread without depositing water on all surfaces.

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Global Fire Suppression System Market Share by Application

Industrial applications of fire suppression systems are anticipated to increase significantly throughout the forecast period due to the expansion of industrial facilities and ongoing global changes to fire safety laws. Fire suppression systems in the industrial sector are utilised in utilised in manufacturing facilities, storage facilities, and data hosting facilities, among others. Meanwhile, the commercial applications segment is expected to witness substantial growth in the fire suppression system global market owing to the increasing number of renovation projects and the increasing adoption of building safety rules.

Competitive Landscape

Fike Corporation, founded in 1945 and headquartered in Missouri in the United States, is a global leader in fire alarm systems, rupture disc technology, explosion protection, and fire suppression solutions. The company also offers personalised customer service for enterprises across the world.

ORR Protection Systems, Inc., established in 1948 and based in Kentucky in the United States, is a specialist in safeguarding mission-critical facility settings against fire loss. They cater to the telecommunication, data processing, cable head-ends, industrial, and power generating sectors.

Firetrace International, LLC, a global innovator and producer of market-leading fire suppression systems, was established in 2000 and has its headquarters in Arizona in the United States. These systems include full room total flooding, engineered clean agent systems, and pre-engineered systems for special hazard enclosures.

Other market players include Johnson Controls International PLC, Honeywell International Inc., Siemens AG, Hochiki Corporation, Carrier Corporation, Minimax USA LLC., and Halma Plc, among others.

Key Highlights of the Report