The Europe Fire Suppression System Market would witness market growth of 5% CAGR during the forecast period (2021-2027).
In Europe, the fire suppression system market is witnessing a significant increase in demand. Among the various types of fire suppression systems available in the market, the demand for fire sprinklers is gradually increasing. Fire sprinklers comprise water supply and distribution piping systems on walls or ceilings. These systems provide high-level coordination among the building-wide communications, active fire systems, and interactive smoke control systems in the case of a sudden fire outbreak. In comparison to manual fire safety systems, fire sprinklers systems are more helpful in reducing the loss caused during a fire emergency. The number of benefits offered by these systems is augmenting their applications in the residential, transportation, healthcare, and commercial sectors.
Additionally, the fire suppression system market is mainly increasing due to the surge in casualties in this region. The growing number of refurbishment projects for old infrastructures and raising awareness about fire safety systems in the region are also fueling the demand for a fire suppression system. Moreover, the European Union (EU) is conducting various seminars and drafting regulations to facilitate the adoption of these systems. Further, there is a rise in the adoption of advanced fire suppression systems in various industries like manufacturing, steel, and oil & gas, for reducing fire hazards. Thus, these factors are accountable to drive the growth of the regional fire suppression system market in the upcoming years.
The Germany in the Europe Commercial Fire Suppression System Market by Country would achieve a market value of $543.5 million by 2027. The UK market is exhibiting a CAGR of 4.4% during (2021 - 2027). Additionally, The France market is anticipated to grow at a CAGR of 6% 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Fire Suppression System Market Size will Hit $23.5 Billion by 2027, at a CAGR of 5.4%
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.
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