Asia Pacific Fire Suppression System Market By Product (Fire Extinguisher and Fire Sprinkler), By Application (Industrial, Commercial and Residential), By Country, Growth Potential, COVID-19 Impact Analysis Report and Forecast, 2021 - 2027
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Get in-depth analysis of the COVID-19 impact on the Asia Pacific Fire Suppression System Market
Market Report Description
The Asia Pacific Fire Suppression System Market would witness market growth of 5.5% CAGR during the forecast period (2021-2027).
Asia-Pacific is witnessing an increase in urbanization in developing nations like India, Indonesia, Japan, and China due to which, there is an increase in the number of construction projects, which is leading to increasing the demand for fire suppression systems in this region. Also, the expanding manufacturing industries in various nations of this region are accelerating the installation of the fire suppression system. In addition, the growing number of technological and economic advancements is also driving the demand for fire suppression systems.
Moreover, the increasing number of cases of fire accidents has compelled the ruling governments of various nations to lay down fire safety norms, which mandates the installation of fire suppression systems in buildings, schools, hospitals, hotels, and others, to reduce the losses of lives due to the outbreak of fire. Further, the growing awareness about fire safety systems among the increasing population is considered to fuel the demand for fire suppression systems in this region, and thereby, bolstering the growth of the regional market.
The rising awareness about prevention from fire hazards and constantly increasing construction & infrastructure development activity are considered to bolster the market growth of the fire suppression systems in the upcoming years. Moreover, rapidly increasing infrastructure development majorly in developed and developing nations would offer lucrative opportunities for the adoption of fire suppression systems. Additionally, the advancement in technology is also boosting the demand for global fire suppression systems.
The China in the Asia Pacific Fire Suppression System Dry Chemical Powder Market by Country would achieve a market value of $336.2 million by 2027. The Japan market is showcasing a CAGR of 4.1% during (2021 - 2027). Additionally, The India market is poised to grow at a CAGR of 5.3% during (2021 - 2027).
Based on Product, the market is segmented into Fire Extinguisher and Fire Sprinkler. Fire Extinguisher segment is further bifurcated across Dry Chemical Powder, Water, Gas, and Others. Based on Application, the market is segmented into Industrial, Commercial and Residential. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Robert Bosch GmbH, Honeywell International, Inc., Siemens AG, Carrier Corporation, Johnson Controls International PLC, Hochiki Corporation, Gentex Corporation, Halma PLC, Minimax Viking GmbH, and Fike Corporation.
Scope of the Study
Market Segments Covered in the Report:
- Fire Extinguisher
- Dry Chemical Powder
- Fire Sprinkler
- South Korea
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Robert Bosch GmbH
- Honeywell International, Inc.
- Siemens AG
- Carrier Corporation
- Johnson Controls International PLC
- Hochiki Corporation
- Gentex Corporation
- Halma PLC
- Minimax Viking GmbH
- Fike Corporation
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