Global fire sprinkler market is estimated to grow substantially in the forthcoming years due to growing investments by organizations for preserving infrastructure. Fire sprinkler is a fire protection system that supplies adequate water with proper flow and pressure to distributing piping system, to which the sprinkler is connected. They are just not limited to alarming, but also sprinkles water automatically and quickly.
The major driving factors of fire sprinkler market comprise increasing government initiatives for the adoption of fire sprinklers in private and public infrastructures, significant reduction in insurance expenditure, and growing investments by government agencies in the domain. However, significant costs involved in installing fire sprinklers in buildings and infrastructures is hampering the market.
Increasing adoption of automation in smart homes and industrial buildings the developing economies is trending in the fire sprinkler market. Nonetheless, growing awareness for fire safety and technological advancements in fire sprinklers is expected to offer opportunities to the market.
The market is categorized on the basis of product type, component, services, application, and geography. Based on product type, market is divided into dry sprinkler systems, wet sprinkler systems, deluge sprinkler systems, and pre-action sprinkler systems. Wet sprinkler system segment is expected to lead the market in the forecast period due to increase in demand by the residential sector, where there is no freezing risk. Moreover, high-rise buildings and multi-storey buildings are increasingly adopting wet sprinkler systems due to increasing urbanization.
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By component, the market is divided into alarm valve, stop valve, alarm test valve, motorized alarm bell, and fire sprinkler head. Alarm valve segment is expected to hold larger share of the market due to improved efficiency. This component proficiently controls the water flow in the fire sprinkler system. Based on services, fire sprinkler market is divided into installation and design, engineering services, inspection & managed services, maintenance services, and other services.
In terms of application, market is divided into commercial, industrial, residential, oil and gas, mining, and others. Further commercial segment is split into academic and institutional, retail, and consumer goods, hospitality, healthcare, and (BFSI) banking, financial services and insurance. Industrial segment is also bifurcated into manufacturing, energy and power, logistics and transportation.
Geographically, fire sprinkler market is segmented as North America, South America, Europe, Asia Pacific, and Middle East & Africa. North America is projected to hold a considerable share of the market due to constant advancements in technology and high rate of adoption in various public and corporate structures. Furthermore, Europe and Asia Pacific also lead the market in the forecast period due to increasing industrialization and speedy urbanization.
The prominent players in fire sprinkler market comprise API Group Inc., Johnson Controls, Honeywell International, Minimax GmbH & Co. KG, Siemens AG, United Technologies Corporation, Hochiki Corporation, Robert Bosch GmbH, VT MAK, Tyco International, Viking Group Inc., Cosco Fire Protection, Grundfos, Adams Fire Protection, Vfp Fire Systems, Heiser Logistics, Kaufman Fire Protection Systems, Inc., and American Fire Technologies.
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