The global fire sprinkler system market research report covers market sizing and forecast, market share, industry trends, growth drivers, and vendor analysis. The market study includes insights on market segmentation by products (Wet sprinklers, dry sprinklers, deluge sprinklers, pre-action sprinklers, and others), end-users (commercial, industrial, residential, educational institutions, government agencies), technology type (non-smart/ traditional and smart), and geography (APAC, Europe, North America, Latin America, and MEA).
The penetration of AI, RPA, ML, and IoT in the commodity and services market has led to disruption across the market
The global fire sprinkler system market has witnessed tremendous progress in the last couple of years. Growth in home automation, liberalization of the insurance sector, and the increasing popularity of connected fire safety equipment are prime factors driving the global fire sprinkler system market. The penetration of Artificial Intelligence (AI), Robotic Process Automation (RPA), Machine Learning (ML), and Internet of Things (IoT) in the commodity and services market in Europe has triggered a disruption wave in the sprinkler market. For example, Germany, which displayed strong economic stability during the Eurozone crisis, is heavily influencing the market due to strong growth in the construction industry and the high penetration of IoT in consumer products.
Further, the advent of technology has increased the range of fire safety products such as sprinkler systems, home alarm systems, water leakage detection devices, and smoke detectors. IoT is adding to the reach of these systems. Organizations are testing IoT-enabled smart fire sprinklers with smart smoke alarms, which have increased accuracy in terms of fire detection and suppression. Also, a high growth market potential, rapid penetration of IoT in various industries, and increasing spending power of consumers in countries such as China, Japan, and Australia are expected to drive the fire sprinkler system market further. The global fire sprinkler system market is expected to reach $15 billion by 2024, growing at a CAGR of close to 10%.
Fire Sprinkler System Market: Dynamics
Artificial Intelligence and Internet of Things have emerged as a boon for smart fire sprinkler systems
The global market is undergoing a major shift as vendors are working toward leveraging the power of AI and IoT. Nowadays, vendors are developing products and services that revolve around consumers’ requirements. The heightened competition and the increasing demand for safe and high-quality goods have pushed vendors to integrate these products with smart digital assistants as they are capable of detecting, analyzing, and warning during anomalies and exigencies. Rapid advancements in AI and growing penetration of connected devices are expected to propel next-generation fire sprinkler systems, thereby generating new streams of revenues for vendors. Most vendors prefer to grow organically through M&As or through strategic alliances, which are expected to add substantial growth of the fire alarms market during the forecast period.
This market research report includes a detailed market segmentation by product types, end-users, technology types, and geography.
Fire Sprinkler System Market: Product
Wet sprinkler systems are effective and reliable with low installation and maintenance cost
The global fire sprinkler system market by product types consists of wet sprinklers, dry sprinklers, deluge sprinklers, pre-action sprinklers, and others. The wet sprinkler segment has captured more than half of the global market, and the segment is expected to grow at a CAGR of around 10% during 2018–2024. Wet sprinklers are the most widely adopted systems across industries due to their effectiveness, reliability, ease of modification, and low installation and maintenance cost.
Dry sprinklers are the second fastest growing segment and are generally used in warehouses, garages, and other unheated spaces. They require high maintenance and are ideal for facilities that require to maintain a temperature above 40-degree Celsius.
Fire Sprinkler System Market: End-users
The compliance to stringent safety norms and building codes has positively affected the sprinkler system market
The commercial, industrial, residential, educational institutions and government sectors are the largest end-users of the global fire sprinkler system market. The commercial sector dominated the market, growing at a CAGR of close to 10% during 2018–2024. The implementation of stringent safety norms and building codes mandated by regulatory bodies worldwide has positively affected the sprinkler system market. The adoption of fire sprinkler systems in offices, warehouses, retail stores, workshops, and other commercial environments is immensely contributing to the revenue of the in the commercial sector.
The industrial sector was the second largest adopter of fire sprinkler systems. Industrial sectors such as oil and gas, mining, manufacturing, plants, and powerhouses are the most significant industrial end-users of fire alarm systems. Further, the increased emphasis on smart homes that are equipped with smart fire alarm systems has increased the revenue of the residential sector significantly.
Fire Sprinkler System Market: Technology
Smart fire sprinkler systems are gaining popularity with the growing application of IoT, AI, and blockchain
The global fire sprinkler system market by technology is segmented as smart and non-smart. A non-smart/traditional sprinkler covers maximum market share and is growing at a CAGR of more than 9% during 2018–2024. New-age non-smart fire sprinkler systems are designed on the CAD system and are prefabricated before installation.
Smart sprinkler systems, on the other hand, are gaining popularity with growing applications of IoT, AI, and blockchain. Many regions are moving toward mandating automatic fire sprinkler system in the residential sector as they are more effective during contingencies and exigencies — these systems proactive safety after they are connected to the cloud platform.
Fire Sprinkler System Market: Geography
North America Captures the largest share of the global fire sprinkler system market due to stringent fire safety regulations
The global market by geography has been divided into APAC, Europe, North America, Latin America, and MEA. North America dominates the fire sprinkler system market, followed by Europe and APAC. North America has been at the forefront of technological innovations for a long period. The intense market competition and the increasing demand for high-quality goods at competitive prices have compelled several industries to adopt fire sprinkler systems.
Europe is known for its stringent fire safety norms. The growing construction industry has provided positive growth opportunities for the global fire sprinkler system market in the region.
Key Vendor Analysis
The global fire sprinkler system market is moderately fragmented, and leading players have occupied a significant portion of the market share. Vendors are leveraging innovative technology to create unique products and sustain the competition in the market. Prominent companies are greatly emphasizing on expanding their businesses to fast-developing countries in APAC and Latin America, thereby increasing their market shares in the global fire sprinkler system market. The introduction of advanced solutions will help leading players to acquire new consumers and gain a competitive edge in the market. The rapid increase in product/service extensions, technological innovations, and M&As will intensify the competition in the market during the forecast period.
Major Vendors in the Global Fire Sprinkler Market:
Other prominent vendors are Schneider Electric, Emerson Electric, Senju Sprinkler, Viking Group, Smith-Cooper International, Erico (Nvent), Reliable Automatic Sprinkler, Globe Fire Sprinkler, Uponor, Plumis, HD Fire Protect, MÜPRO, Lubrizol, Fireline Sprinkler, and Todd Morris.
Key Market Insights
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