In 2022, it’s expected that sales of automatic fire suppression systems (AFSS) will top US$ 17 billion. Sales are anticipated to increase at a 5% CAGR over the assessment period due to growing worries about the security of professionals working in the industrial and commercial sectors.
The system is easily integrated with the vehicles, due to its low weight. Automatic fire suppression system is also used in vehicles to control and extinguish fire. The system is specially designed for vehicles to withstand vibrations of vehicles and the system doesn’t require any power supply to make them use anywhere and anytime.
The automatic fire suppression system contains infrared optical detection, fire suppressing storage cylinders, alarm unit and other components to prevent the assets and lives from the fire. There are different types of automatic fire suppression system available such as fire detectors, fire extinguisher and sprinklers.
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Global Automatic Fire Suppression System Market: Drivers and Challenges
The demand for automatic fire suppression is growing with the expansion of various industries globally, especially in the Asia Pacific, Western Europe and North America. The automatic fire suppression system is already being implemented in various industries such as manufacturing, mining, automotive, oil & gas. Implementation of stringent government regulations to create a safe environment by encouraging the installation of automatic fire suppression system market is fueling the growth for the global automatic fire suppression system market. Growing demand for safety features in vehicles in developing countries and above factors are propelling the growth for global automatic fire suppression system market.
Though, the demand for automatic fire suppression system is increasing in the developing countries, the system has low awareness in underdeveloped countries. The automatic fire suppression systems requires higher capital investment, this is inhibiting the growth of the Global Automatic Fire Suppression System market.
Key Takeaways:
- The increasing demand for automatic fire suppression systems (AFSS) in various industries such as manufacturing, automotive, and oil & gas is driving the growth of the market.
- Technological advancements in AFSS, such as the development of intelligent systems with remote monitoring capabilities, are further boosting market growth.
- The Asia Pacific region is expected to witness significant growth in the AFSS market due to the increasing industrialization and growing awareness about fire safety.
- Government regulations regarding fire safety and building codes are also contributing to the growth of the market.
- The key players in the AFSS market include Johnson Controls International Plc, Halma Plc, Robert Bosch GmbH, Honeywell International Inc., and Siemens AG.
Global Automatic Fire Suppression System Market: Overview
The Global Automatic Fire Suppression System market by value is expected to expand at a CAGR of around 7-9% during the forecast period (2022-2032), due to stringent government safety regulations, growing demand from various industries, etc.
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Global Automatic Fire Suppression System Market: Region-wise Outlook
The global automatic fire suppression system market is expectedto register a single-digit CAGR for the forecast period. Depending on geographic regions, the global automatic fire suppression system market is segmentedinto seven key regions: North America, South America, Eastern Europe, Western Europe, Asia-Pacific, Japan, and Middle East & Africa. In terms of market volume and revenue, Asia Pacific automatic fire suppression market is projectedto register a significant CAGR during the forecast period. Growing demand for the system from industries such as Mining and Oil & Gas, especially in the economies like India and China, is fueling the growth of the global automatic fire suppression system market in Asia Pacific. Western Europe is also forecast to register a significant growth in the global automatic fire suppression system market, due to stringent government regulations to increase the safety.
Global Automatic Fire Suppression System Market: Key Players
Some of the key market participants in global automatic fire suppression system market are Siemens AG, Tyco, Robert Bosch GmbH, Johnson Controls, Honeywell International Inc., Halma PLC, etc.
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Key Segments Profiled in the Automatic Fire Suppression System (AFSS) Industry Survey
Product Type:
- Engineered Automatic Fire Suppression Systems
- Pre-Engineered Automatic Fire Suppression Systems
End-Use Industry:
- Oil and Gas
- Mining
- Manufacturing
- Automotive
Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- APEJ
- Japan
- Middle East & Africa
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