The market for fire suppression systems was valued at nearly US$ 17 Bn as of 2021, and is expected to surge Y-o-Y at a rate of 5.8% in 2022, reaching US$ 18 Bn. By the end of the forecast period 2022-2032, the market is likely to have grown 1.6x in value terms to reach US$ 30 Bn.
Toughening fire safety regulations combined with technological advancements in firefighting capabilities are some factors expected to steer market growth. By product, fire extinguishers will account for 52% of total revenue, while dry chemical powder based fire suppression systems will account for 1/3rd of global market share.
Competitive Landscape
Key fire suppression system manufacturers are leveraging approaches such as strategic collaborations, partnerships and new product launches. Toughening fire safety regulations across countries are providing opportunities for players to introduce fire suppression systems equipped with the latest technologies. Some notable developments are as follows:
- In August 2020, Robert Bosch GmbH introduced the Avenar panel 2000 and 8000 next-generation fire alarm panels. Driven by IoT, the system is fully backwards compatible with current fire alarm system components. Users can fully control the equipment via the eMatrix feature
- In January 2021, Gentex Corporation announced the acquisition of a new nanofiber sensing technology, capable of detecting a wide variety of chemicals, from explosives to VOCs, with applications across a multitude of end use industries. The initiative compliments its expertise in the commercial fire protection industry
Key Companies Profiled
- Robert Bosch GmbH
- Gentex Corporation
- Minimax Viking GmbH
- Honeywell International
- Raytheon Technologies (United Technologies Corporation)
- Halma Plc
- Siemens AG
- Johnson Controls International
Key Segments Covered
- By Product
- Fire Extinguisher
- Fire Sprinkler
- By Fire Extinguisher Type
- Gas Fire Suppression Systems
- Water Fire Suppression Systems
- Dry Chemical Powder Fire Suppression Systems
- Other Fire Extinguisher Types
- By Application
- Commercial Applications
- Industrial Applications
- Residential Applications