The Global Fire Sprinkler market is valued at $7.5 billion in 2014 with CAGR of 10.31% it is expected to reach $15.19 billion by 2022. The Fire Sprinkler market is expected to have high demand for its commercial applications. The fire sprinkler services in manufacturing, oil & gas, mining, commercial applications are driving the market growth. High cost of sprinklers and lack of integrity in system interfaces are the major factors restraining the growth of the market.
The opportunity for growth in fire sprinkler market lies in government mandates and technological innovations. The challenges faced by the market are advanced solution for Fire security by Government. North America has the largest market for fire sprinklers and expected to hold its share till 2022, where U.S. occupies the major market share in the region. Asia Pacific and Europe also seem to be the promising markets driven by countries such as China, UK, and Germany.
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Global Fire Sprinkler market is segmented by technology, by product, by service, by application, by components and by Geography. Based on technology, market is segmented into Active Fire Protection (AFP) and Passive Fire Protection (PFP). Based on product, market is segregated into wet sprinkler system, deluge sprinkler system, dry sprinkler system, pre-action sprinkler system and others. Based on service, market is classified into installation and design, inspection, management and engineering services. Based on application, Fire Sprinkler market is categorized into industrial, residential and commercial. Fire Sprinkler market by geography is segmented into North America, Europe, Asia Pacific, and Rest of the World.
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The Key players in the market include, Siemens AG, Vtmak, Halma PLC, API Group, Inc., Minimax GmbH & Co. KG, Johnson Controls, Gentex Corporation, United Technologies Corporation (UTC), and Honeywell International, Inc.
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