Fire Sprinkler Market Witness Exponential Growth To Reach USD 14.5 Billion By 2027

Fire Sprinkler Market Expected to Reach $14.5 Billion by 2027

PORTLAND, OR, UNITES STATES, March 20, 2023 / — Top Companies Outlook

The key players profiled in the fire sprinkler market report include AG Fire Sprinkler, American Fire Technologies, APi Group, GW Sprinkler A/S, Honeywell International Inc., Johnson Controls International Plc, Minimax GmbH & Co. KG, Robert Bosch GmbH, Siemens AG, and SIRON Fire Protection.

AMR Says, the global fire sprinkler market size was valued at $10,200.0 million in 2019, and is projected to reach $14,525.5 million by 2027, registering a CAGR of 6.5% from 2020 to 2027.

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Key Points of the Market:
Governments and fire safety authorities around the globe has implemented strict fire safety regulations to ensure the safety of property and human lives against the risk of fire hazards. For instance, National Fire Protection Association (NFPA) based in the U.S. has made compulsory to install fire sprinklers for all new commercial and residential buildings as per regulations laid down in NFPA 13. Similarly, in the UK, according to the ADB (Approved Document B) of Building Regulations 2006, installation of fire sprinklers are compulsory for buildings having height of more than 30m. These strict norms are expected to accelerate the growth of fire sprinkler market during the forecast period.

Rapid urbanization and industrialization has resulted in increase in residential and nonresidential construction activities in the developed and developing countries such as the U.S., Canada, the UK, Russia, India, China, and Brazil. For instance, in August 2020, Statistics Canada, a national statistical agency of Canada, released a report on economy of Canada. According to this report, total investments in building construction registered an increase of 12% in June 2020 as compared to May 2020. This is expected to result in the need for safety and security from fire hazards, which is anticipated to accelerate the growth of the market during the forecast period.

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Covid-19 Analysis:

Fluctuations in raw material prices are anticipated to reduce in the future, owing to intense competition among players in the market. COVID-19 has affected the demand for fire sprinklers, which is expected to cause a negative impact on the market growth throughout the year. Moreover, demand for fire sprinklers has drastically declined in developing countries such as India and China, which had limited production of fire sprinklers and components & accessories. Furthermore, disruption of logistics and supply chains hampers installation of fire sprinkler systems across the globe.
Key Segments of the Fire Sprinkler:

By Type
• Products
• .Services

• Stop Valve
• Alarm Valve
• Fire Sprinkler Head
• Alarm Test Valve
• Motorized Alarm Bell

• Active fire protection
• Passive fire protection

• Residential
• Commercial
• Industrial

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David Correa
Allied Analytics LLP
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