Description
The global automatic fire sprinkler market was valued at USD 12,200 million in 2020 to USD 21,595.73 million by 2027, at a CAGR of 8.9% from 2021 to 2027. Automatic fire sprinklers are used in various commercial and residential applications for protecting areas from catching fire. A frangible bulb is attached to the sprinkler head, filled with a liquid, and releases water once it is heated. Automatic fire sprinklers detect the heat in advance, initiate an alarm, and spray water finely in the area that is prone to fire. The sprinklers release the water since it can cool down and suppress the fire and is an easily available resource.
Moreover, it is a very economical and efficient way of fire suspension. The sprinklers can detect smoke and fire in advance and reduce the damage caused by fire, thereby preventing the injuries caused by fire and safeguarding lives and property. The automatic fire sprinklers help in reducing the severity of the fire and prevent the fire from spreading.
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The major driving factors of the automatic fire sprinklers market are the protection of life and property, reduction in risk of damage, and increasing investment across organizations in safeguarding the infrastructure. Moreover, various government initiatives help in supporting the growth of the market. However, the high cost of installing and maintaining fire sprinklers is expected to hamper this market's development. Various technological innovations in automatic fire sprinklers and the increasing trend of automation are expected to provide lucrative opportunities for the market.
The factors affecting the global automatic fire sprinklers market include protecting life and property, reducing the risk of damage, increasing investments across organizations related to fire safety, and rising awareness regarding life safety. These major factors have boosted the installation of automatic fire sprinklers. Installation of automatic fire sprinklers helps in reducing the spread of fire and decreases the risk of damaging life and property, which is why they are mostly installed. The automatic fire sprinklers use less water and provide maximum fire protection due to safeguarding the environment.
Global Automatic Fire Sprinker Market Dynamics
Drivers: Increasing investments across organizations for fire safety
Fire protection is one of the major concerns for organizations as it can lead to loss of lives and property and can cause serious injuries to the employees and the whole organization. Automatic fire sprinklers are installed in various commercial buildings such as offices, industries, hotels, schools, and hospitals to minimize the damage caused by fire. Therefore, organizations invest heavily in fire protection and installing various sprinklers that provide a safer work environment. Moreover, fire sprinklers are an investment in the business since they are tax-deductible. Fire sprinklers are widely being installed in warehouses to protect against the loss of damage caused by fire. Moreover, automatic fire sprinklers help businesses reduce fire damage by up to 90%, fueling the market growth.
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Restraints: High initial cost of retrofitting automatic fire sprinklers in current buildings
Automatic fire sprinklers can prevent the loss of lives and property, but the high initial cost of installing them has proved to be a major drawback in the automatic fire sprinkler market. The cost of installing a basic fire sprinkler system in a new building is around $1-2 per square feet, whereas installing a sprinkler system can go up to $10 per square feet for buildings as retrofitting a present building is a costly affair. The cost of installing a new fire sprinkler system is nearly about 1-2% of constructing a house. The installation of sprinklers is expensive, but the repair and maintenance charges are high, hampering the market growth.
Opportunities: Rising awareness regarding fire safety
Various companies are initiating awareness regarding employee safety, spreading awareness in training, and providing safety brochures that contain proper guidelines regarding what needs to be done in case of a fire. Moreover, various government initiatives regarding public fire safety, such as NFPA’s “Learn not to burn” and “Risk Watch,” are the best examples of creating awareness among people to be safe. If such an accident occurs, then they should be prepared to fight against the fire. All these factors are expected to provide lucrative opportunities for the automatic fire sprinkler market.
Scope of the Report
The study categorizes the automatic fire sprinkler market based on type, industry vertical, and regions.
By Type
- Wet Fire Sprinklers
- Dry Fire Sprinklers
- Preaction
- Deluge
By Industry Vertical
- Commercial
- Residential
- Energy and Power
- Industrial & Manufacturing
- Oil, Gas, and Mining
- Transportation & Logistics
- Others
By Region
- North America (US, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
- Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
- The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)
Wet sprinklers, by type, is estimated to be the fastest-growing segment during the forecast period
By type, the automatic fire sprinkler market is segmented into wet fire sprinkler, dry fire sprinkler, deluge sprinkler, pre-action fire sprinkler, and others. All these product types have different functionalities, but the same aim is to suppress the fire and reduce the damage caused by fire. In 2020, wet sprinklers accounted for the fastest-growing segment with a CAGR of 11.5% in the global automatic fire sprinkler market and a revenue share of 40.54% during the forecast period.
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Wet fire sprinklers are installed in the areas that are not vulnerable to freezing, i.e., where the temperature is above 40 degrees. Wet fire sprinklers are the most common and famous fire suppression methods available in the market. The wet fire sprinklers consist of significantly less components and are easy to maintain, and therefore the chances of its malfunctioning are comparatively less than other fire sprinkler systems. It ensures reliability and complete security of the areas prone to fire. Moreover, wet fire sprinklers are considered an economical option for various businesses and commercial sectors since they are easy to install and maintain.
Asia Pacific accounts for the highest CAGR during the forecast period in the automatic fire sprinkler market
Based on region, the global automatic fire sprinkler market has been segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa. The Asia Pacific has a growth rate of 11.8% during the forecast period 2021-2027 and has a revenue share of 22.49% globally. Asia-Pacific comprises countries such as India, China, Australia, Japan, and the Rest of Asia-Pacific. The growth in infrastructure facilities and consumers' willingness to spend on fire protection systems, including automatic sprinklers, is expected to drive the market growth.
The middle-class population in the countries of Asia-Pacific, such as India and China, is rising at a very fast pace. According to the Organization for Economic Co-operation and Development (OECD), in 2009, the middle-class population in Asia-Pacific was around 28% globally and is expected to increase to 54% in 2030, with the highest growth in India and China. High infrastructural investments, including railway, mining, commercial buildings, are expected to increase the market growth. The The government of India has issued contracts worth INR 1,861 crore on these projects, due to which the infrastructural facilities are growing, which in turn are increasing the market growth.
Key Market Players
The leading companies in the global automatic fire sprinklers market, namely APi Group, Cosco Fire Protection, Koorsen Fire & Security Inc., Adams Fire Protection, United Technologies Corporation, American Fire Technologies, Johnson Controls International Plc., Kaufman Fire Protection Systems, Inc. ., and Grundfos. The parameters considered for the representation are geographical reach, key strategies adopted, the company's revenue, and their focus on manufacturing and assuming the automatic fire sprinklers market. United Technologies Corporation accounts for the highest revenue with maximum geographic presence. UTC registered a total annual growth of 2.0% in the year 2016. Followed by UTC, Honeywell International Inc. registered a growth rate of 1.9% in 2016, and Johnson Controls International PLC. registered a growth rate of 1.3% in 2016.
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