Global Fire Suppression Market 2017-2021

Overview of the fire suppression market

According to the fire protection market analysis, Technavio’s market research analyst has predicted that the global fire suppression market will witness exponential growth at a CAGR of more than 9% over the forecast period. The implementation of stringent fire safety regulations across most developed countries in North America and Western Europe is a major factor driving this market’s growth. Despite several measures to reduce the incidence of fires to minimize injuries and losses, the number of fire incidences has declined significantly since 2010. This has led to the various safety authorities at the local level to introduce stringent regulations and practices to minimize the destruction caused by fires considerably. For instance, in EMEA, in2016, disaster training exercises to spread awareness about fire safety were held in Europe. Also, the government of the UK passed a regulation that involved firefighters and police officers from London conducting a rescue operation and disaster management session for building collapses. Such programs assist countries in dealing with fire hazards in a better way and will, in turn, propel the growth prospects for the fire protection systems market until the end of 2021.

One of the recent fire protection industry trends gaining significant traction in the market is the increasing focus on the use of micro-environment fire suppression systems. These fire suppression systems are specially designed for application areas that are highly vulnerable to fire explosions. Enclosed areas such as server racks and electrical panels equipped with such fire suppression systems are deployed with the most advanced activation and fire detection technology, making the detection of the fire and the activation of the system extremely quickly. Such a system is not only highly reliable in dousing fire but also helps in protecting expensive equipment around the flame-lit area. The installation of such fire suppression systems will contribute to this market’s growth over the next four years.

Competitive landscape and key vendors