Pune, India -- (SBWIRE) -- 07/28/2018 -- The Fire Suppression Market 2023 is Opportunities, Current Trends, Market Challenges & Global Industry Analysis report added on ReportsnReports.com. The 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.

Download PDF Brochure of Fire Suppression Market spread across 143 Pages, Profiling 10 Companies and Supported with 63 Tables and 46 Figures is now available at http://www.reportsnreports.com/contacts/requestsample.aspx?name=1575869

Key Target Audience:
- Fire protection systems component manufacturers
- Fire protection systems product manufacturers (ODMs)
- Fire protection systems original equipment manufacturers (OEMs)
- ODM and OEM technology solution providers
- Assembly, testing, and packaging vendors
- Distributors and traders
- Research organizations, fire protection organizations, forums, alliances, and associations

Fire Suppression market is 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. High installation and maintenance costs of fire suppression systems and the lack of integrity in system interfaces restrain the growth of the fire suppression market.

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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.

Fire suppression market for fire detectors and control panels to grow at highest CAGR during forecast period
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.

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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.

Fire suppression market to grow at highest CAGR in RoW during forecast period
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.

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%

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