Global Fire Sprinklers Market 2016-2020
About the Fire Sprinkler Market
With technological advances in the construction industry globally, health safety and environment (HSE) has gained significant importance. HSE is gaining popularity in the industrial, civil, commercial, and residential construction sectors.
Fire safety is one of the key aspects of HSE. With the significant increase in the importance and implementation of HSE operations, acceptance of systems such as fire-safety equipment has increased. As a result, the global fire sprinklers market is gaining traction.
Among the different sectors of construction, the demand for fire sprinklers is comparatively high in the commercial, infrastructure, and industrial construction sectors. Electrical equipment and other flammable components that are used in complex and heat-intensive processes are being dealt with extra care to avoid any untoward instances.
Technavio’s analysts forecast the global fire sprinkler market to grow at a CAGR of 9.17% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global fire sprinkler market for 2016-2020. To calculate the market size, we consider the revenue generated from the sale of new fire sprinkler units across the globe in the forecast period.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Fire Sprinkler Market 2016-2020
Technavio recognizes the following companies as the key players in the global fire sprinkler market: Hochiki, Minimax Viking, Tyco, and United Technologies.
Other Prominent Vendors in the market are: APi, Cosco Fire Protection, and Siemens.
Commenting on the report, an analyst from Technavio’s team said: “One trend propelling growth in this market is the use of advanced technologies. Vendors focus on manufacturing sprinkler systems with advanced technologies. For instance, water mist technology was being used in the early 1980s in the US. However, high-pressure water mist can be used in museums, hotels, and data centers, apart from industrial buildings.”
According to the report, one driver spurring growth in this market is the cost benefits of sprinkler systems. The domestic sprinkler system is available at a low cost, with a price range similar to that of a domestic smoke alarm. The cost per life saved by a fire sprinkler system is lesser than that of smoke alarms. The sprinkler system and smoke alarm can be effective in reducing the number of expected fire deaths per year.
Further, the report states that the risks associated with the corrosion of sprinkler pipes will hinder market growth during the predicted period. Sprinkler pipes are prone to corrosion, affecting the operation and performance of the system. Uncontrolled corrosion clogs pipe and control valves, leading to reduced water flow from the sprinklers, while discovered corrosion impacts the performance reliability.
Hochiki, Minimax Viking, Tyco International, United Technologies, API, Automatic Fire Sprinklers, Century Fire Sprinklers, Cosco Fire Protection, DIBOCO Fire Sprinklers, Global Fire Sprinklers, Prairie Fire Sprinklers, REDA Fire & Safety, Rollins Fire Sprinklers, Wayne Automatic Fire Sprinklers.
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