Fire Sprinkler Market Size, Growth And Forecast To 2030

(MENAFN- Straits Research) A fire sprinkler system is a simple yet crucial active component of the fire protection system in a home or commercial building. Sprinkler heads, a water source, and a water distribution system make up the system, which is mounted on side walls or ceilings. When a fire is detected, the sprinkler automatically discharges water. A fire detection and suppression system can detect and suppress the fire.
Market Dynamics
Increased Awareness of Fire Safety and Booming construction Activity Stimulates the Market
The fire sprinkler market growth rate depends on the investments made in residential and commercial construction. Building new residential and commercial complexes are more necessary than ever because of increased disposable income and population growth. The need for fire sprinklers has increased due to the expansion of residential and commercial construction sectors, which is expected to continue. In addition, the introduction of stringent requirements for installing fire suppression systems in non-residential and residential buildings globally is expected to expand the fire sprinkler industry.
Fire sprinklers are essential to fire safety in the commercial and industrial sectors. Concerns about public safety and a rise in the likelihood of property loss from fire disasters are other factors driving the sector's growth. Fire sprinklers are mostly made from essential elements, including metal, glass, and plastic. Over the past few years, the price of these raw materials has fluctuated due to numerous economic and speculative variables. Government-led rigorous regulations, tariffs, and controls against deforestation, metals, and other commodities used in fire sprinklers have negatively impacted manufacturers' earnings and profits.
Regional Insights
North America commands the market, growing at a CAGR of 5.68% during the forecast period. The installation of fire sprinkler systems in the manufacturing, textile, chemical, oil & gas, and other industries falls under the industrial category. Due to the nature of the industrial procedures used in industries, fire risks are a significant concern. For instance, the production of oil and gas involves the usage of highly combustible materials. As fire safety and security awareness rise due to increased fire accidents, the market for fire sprinklers is predicted to grow. Governments have also set stringent fire safety regulations to install fire sprinkler systems across North America. Additionally, it is projected that rising government investment in commercial construction will fuel the growth of the fire sprinkler industry. These circumstances are anticipated to support the local fire sprinkler market's expansion during the forecasted period.
Europe is the second largest market and is expected to generate USD 2,813 million by 2030, growing at a CAGR of 7.19%. The European market comprises the United Kingdom, Germany, France, Spain, Sweden, Russia, and the rest of Europe. Germany holds the most market share. Fire safety is a top priority in Europe for residential and non-residential buildings. For instance, Fire Safe Europe, a European organization for fire safety in buildings (FSEU), determined that at least 5,000 fire events occur daily in Europe. These fire calamities are estimated to have cost 1% of the European GDP. The market for fire sprinklers is also expected to benefit from growing government spending on the construction of commercial and industrial buildings over the projected period.
China, India, and Japan make up Asia-Pacific. Due to an increase in fire incidents in residential and commercial settings across Asia-Pacific, particularly in China and India, concern over fire safety has risen. For instance, China recorded 192,000 fire incidences in 2018, resulting in 38,000 injuries and 500 civilian fatalities. These tragedies seriously question the requirement for China to implement efficient fire safety measures. Additionally, the Chinese government released its "Made in China 2025" strategy in 2015, laying out its objective to raise industrial production from the electronics sector to USD 305 billion by 2030. These measures are expected to encourage the growth of the fire sprinkler industry.
Key Highlights

The global fire sprinkler market had a revenue holding of USD 12,492 million in 2021. It is expected to reach USD 22,263 million by 2030, growing at a CAGR of 7.49% during the forecast period (2022–2030).
Type-wise, the global fire sprinkler market includes Products and Services. The Product segment dominates the market and is expected to grow at a CAGR of 6.42% during the forecast period.
Component-wise, the global fire sprinkler market includes Stop Valve, Alarm Valve, Fire Sprinkler Head, Alarm Test Valve, and Motorized Alarm Bell. The Stop Valve segment dominates the market and is expected to grow at a CAGR of 8.55% during the forecast period.
Technology-wise, the global fire sprinkler market includes Active Fire Protection and Passive Fire Protection. The Active Fire Protection segment dominates the market and is expected to grow at a CAGR of 7.6% during the projected period.
Application-wise, the global fire sprinkler market includes Residential, Commercial, and Industrial. The Commercial segment dominates the market and is expected to grow at a CAGR of 8.53% during the forecast period.

Market News

In March 2022, KOMTES GROUP attended fire sprinkler Europe in Madrid with AG fire sprinkler.
In March 2022, Standard and custom printed cover plates for use with flat plate residential, commercial, and specialty concealed sprinklers have been introduced, according to Reliable Automatic Sprinkler Co., Inc.
In January 2022, API Group Corporation announced the acquisition of the Chubb Fire & Security division.

Competitive Landscape
The major players in the market are ag fire sprinkler, American fire technology, API group, GW sprinkler a/s, Honeywell International Inc, Johnson controls international, minimax GmbH &co. Kg, Robert Bosch GmbH, Siemens AG, Siron fire protection, and Reliable Automatic Sprinkler Co., Inc.
Global Fire Sprinkler Market Segmentation
By Type

Products
Services

By Component

Stop Valve
Alarm Valve
Fire Sprinkler Head
Alarm Test Valve
Motorized Alarm Bell

By Technology

Active Fire Protection
Passive Fire Protection

By Application

Residential
Commercial
Industrial

By Regions

North America
Europe
Asia-Pacific
LAMEA

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