The global fire sprinkler market is expected to grow at a CAGR of around 6.5% during the forecast period of 2023-2028 and was valued at around US$ 11 billion in 2022.
A fire sprinkler is used in fire protection systems to find and put out fires in structures or other enclosed areas. It is an essential part of fire suppression systems and is made to react to fires rapidly, control their spread, and lessen damage to property and human life.
Construction activities have increased due to global population expansion, rapid urbanization, and infrastructural development. Fire sprinkler systems are frequently incorporated into new construction projects to ensure compliance with fire safety regulations from the design phase onward. The market for fire sprinkler systems has grown as a result of the rise of the construction sector.
Fire Safety Regulations and Building Codes Driving Fire Sprinkler Market
Governments and regulatory agencies worldwide have tightened building standards and fire safety rules. Installing fire sprinkler systems is frequently mandated by these rules for use in office buildings, high-rise structures, apartment buildings, and other facilities. The demand for fire sprinkler systems has increased as a result of the increased implementation of these laws.
Many insurance providers give discounts or lower premiums to buildings with installed fire sprinkler systems. Building owners and developers have been motivated by this incentive to invest in fire sprinkler systems to save insurance costs and prevent potential property damage. Fire sprinklers can reduce fire-related losses, saving building owners and insurance companies a lot of money.
North America Significantly Drives Global Fire Sprinkler Market Growth
The market for fire sprinkler systems in North America, especially the US, is developed and well-established. Fire sprinklers must be installed in all commercial, industrial, and residential buildings according to strict building norms and laws for fire protection.
Fire sprinkler system producers, suppliers, and contractors are widely spread throughout the US. The industry is fueled by a mix of insurance obligations, regulatory compliance, and an emphasis on life safety. Fire sprinkler systems are frequently retrofitted into pre-existing structures and frequently included from the beginning of new construction projects. In North America, there is a rising need for modern fire sprinkler systems, such as water mist systems and quick-response sprinklers.
Market Structure and Competitive Landscape
The global fire sprinkler market is fragmented in nature with the presence of various players operating in the market. Some of the prominent players operating in the fire sprinkler market include AG Fire Sprinkler, American fire technology, Api Group, GW Sprinkler A/S, Honeywell International Inc, Johnson Controls International, Minimax GmbH & Co KG, Robert Bosch GmbH, Siemens AG, Siron Fire Protection, and Reliable Automatic Sprinkler Co. Inc., among others.
These players are majorly regional players and maintain a healthy competitive environment. Following are some of the expansions of the fire sprinkler market:
- In March 2022: Reliable Automatic Sprinkler Co., Inc. introduced standard and custom printed cover plates for use with flat plate residential, commercial, and specialty concealed sprinklers.
Key Market Segmentation
RationalStat has segmented the global fire sprinkler market based on type, component, technology, application and region.
- By Type
- By Component
- Stop Valve
- Alarm Valve
- Fire Sprinkler Head
- Alarm Test Valve
- Motorized Alarm Bell
- By Technology
- Active Fire Protection
- Passive Fire Protection
- By Application
- By Region
- North America
- Latin America
- Rest of Latin America
- Western Europe
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific
- South Korea
- ASEAN (Indonesia, Vietnam, Malaysia, etc.)
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of the Middle East & Africa
- North America
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- Industry and market-related documents available in the public domain
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Frequently Asked Questions (FAQs)
The global fire sprinkler market is anticipated to grow at a CAGR of approximately 6.49% during the forecast period 2023-2028.
The global fire sprinkler market was estimated at US$ 11 billion in 2022.
Fire safety regulations and building codes driving fire sprinkler market.
China holds the major share of the global fire sprinkler market.
Leading Companies operating in the global fire sprinkler market include AG Fire Sprinkler, American fire technology, Api Group, GW Sprinkler A/S, Honeywell International Inc, Johnson Controls International, Minimax GmbH & Co KG, Robert Bosch GmbH, Siemens AG, Siron Fire Protection, Reliable Automatic Sprinkler Co., Inc etc.