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.
China is among the largest fast-developing countries worldwide in the fire protection system Industry. It is also the fastest-growing economy in the Asia Pacific region and the most populous country in the world. China is expected to account for the largest share of the market analysis in the Asia Pacific region during the forecast period. Many fire protection and safety companies are based in China, including multinational and local companies that provide a comprehensive range of fire safety products and services. China’s government is expected to develop strict laws and regulations that would make installing fire protection systems mandatory in buildings.
DRIVERS: Strict government regulations pertaining to fire safety
Fire protection involves the combined efforts of federal custodians, tenants, private sector building owners, and local fire service agencies. Policies and regulations differ from region to region and are meant to safeguard human life and property. An example of this is the Australian Building Codes Board (ABCB) oversees issues related to safety, health, amenity, accessibility, and sustainability in buildings. ABCB is working with Fire and Rescue New South Wales (FRNSW), the Australasian Fire and Emergency Services Authorities Council (AFAC), and the Fire Protection Association of Australia (FPAA) to extend the current deemed-to-satisfy (DTS) provisions for sprinkler protection to medium-rise multistorey residential buildings.
Similarly, the Korean Fire Protection Association was established in 2011 as an outcome of the fire prevention law, the Act on the Indemnification for Fire-caused Loss and the Purchase of Insurance Policies. This association provides fire safety inspection and consulting services to specific buildings, such as manufacturing facilities, educational institutions, schools, and public properties. The governments of most developed economies provide monetary support for the installation and maintenance of fire protection systems, e.g., smoke detectors in homes and commercial buildings.
RESTRAINTS: Issues of false alarms and detection failures
A false alarm is an issue with smoke detectors and other fire detection systems. For instance, a smoke detector located in or near a kitchen may raise a nuisance alarm during the normal operations of kitchen appliances. Heat detectors do not sense the combustion particles and are designed to ring when the heat on their sensors increases at a stipulated rate or reaches a determined level. Due to such factors, fire alarm systems may fail to alert people.
OPPORTUNITIES: Growing adoption of water mist systems
The foam-based fire protection system is an aggregate of air-filled bubbles formed from aqueous solutions. It has a lower density than other flammable liquids. This foam-based system is mainly used to design a coherent floating blanket on flammable and combustible liquids to prevent fires by excluding air and cooling the fuel. This system also helps to prevent re-ignition by suppressing the formation of flammable vapors. Further, it sticks to the surfaces by providing protection from adjacent fires.
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
- Dry Chemical Powder
- By Application
- Commercial Applications
- Industrial Applications
- Residential Applications