The automatic fire suppression system global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Automatic Fire Suppression System Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The automatic fire suppression system market size has grown strongly in recent years. It will grow from $16.60 billion in 2023 to $17.56 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to stringent safety regulations, increasing awareness of fire hazards, growth in infrastructure development, demand for property protection, insurance requirements, industrialization trends, urbanization.
The automatic fire suppression system market size is expected to see strong growth in the next few years. It will grow to $22.31 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to adoption in emerging economies, rise in commercial construction, focus on life and property safety, expansion of manufacturing facilities, heightened emphasis on fire prevention, retrofitting in existing buildings, integration with smart building systems. Major trends in the forecast period include adoption of advanced detection technologies, expansion of systems in commercial sectors, integration of smart sensors, growth in demand for environmentally friendly agents, development of modular systems, collaboration between providers and contractors, expansion in vehicle applications, adoption of remote monitoring capabilities, increasing emphasis on compliance..
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The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
The increasing construction activities are expected to propel the growth of the automatic fire suppression system market going forward. Construction activities encompass a broad range of tasks and processes involved in creating, altering, or renovating physical structures and infrastructure. Construction activities are increasing due to population growth, urbanization, infrastructure investment, and rising housing demand. Automatic fire suppression systems are extensively used in construction settings to protect assets, equipment, and personnel from fire hazards and rapidly detect and extinguish fires, minimizing damage, injuries, and potential loss of life. For instance, in March 2024, according to reports published by the United States Census Bureau, a US-based government agency, construction spending surged from $1,825.7 billion in January 2023 to $2,102.4 billion in January 2024, marking a substantial increase of $276.7 billion. Therefore, increasing construction and industrial activities are driving the growth of the automatic fire suppression system market.
Market Trends –
Major companies operating in the automatic license plate recognition market are focused on developing high-resolution cameras, such as Autovu Sharp V ALPR (automatic license plate recognition) cameras, to boost revenue in the market. Autovu Sharp V ALPR cameras are high-resolution cameras with a high pixel count that allows for creating images with significant clarity and detail. For instance, in August 2021, Genetec Inc., a Canada-based software development company, launched the next generation of Autovu Sharp V ALPR (automatic license plate recognition) cameras. The next generation features motorized lenses for simple deployment and incorporates 4G, LTE, and GPS, providing a future-proof fixed solution. SharpV’s machine learning-based ALPR and vehicle analytics on the edge, along with its built-in illuminators, global shutter, and high-resolution sensors, ensure high performance in a variety of conditions to provide clear, accurate images day or night and across multiple lanes, minimizing the need for multiple devices and lowering the total cost of ownership.
The automatic fire suppression system market covered in this report is segmented –
1) By Type: Engineered Fire Suppression Systems, Pre-Engineered Fire Suppression Systems
2) By Application: CO2 Fire Suppression Systems, Water Fire Suppression Systems, Clean Agent (Gaseous) Fire Suppression Systems, Aqueous (Foam) Fire Suppression Systems, Other Applications
3) By End-Use Industry: Oil And Gas, Mining, Manufacturing, Automotive
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Regional Insights –
North America was the largest region in the automatic fire suppression system market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automatic fire suppression system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the automatic fire suppression system market are Hochiki Corporation, Siemens AG, United Technologies Corporation, Honeywell International Inc., Johnson Controls International plc, Tyco International, The Chemours Company, Minimax Viking GmbH, Halma plc, Gentex Corporation, Ansul Incorporated, Rotarex SA, Amerex Corporation , Fike Corporation, Cosco Fire Protection, Potter Electric Company, Grundfos Holding A/S, TOMCO2 Systems, Heiser Inc., FireTrace Ltd., Robert Bosch GmbH, American Fire Technologies, Janus Fire Systems, SEVO Systems, BlazeCut USA, Edwards Fire Safety , Solberg Scandinavian AS
Table of Contents
1. Executive Summary
2. Automatic Fire Suppression System Market Report Structure
3. Automatic Fire Suppression System Market Trends And Strategies
4. Automatic Fire Suppression System Market – Macro Economic Scenario
5. Automatic Fire Suppression System Market Size And Growth
…..
27. Automatic Fire Suppression System Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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