At a CAGR of 10.6% Automatic Fire Sprinklers Systems Market Grow And Reach $2.1 Billion by 2026 [164 Pages Report]

PORTLAND, UNITED STATES, UNITED STATES, February 16, 2023 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, Automatic Fire Sprinkler System Market by Product type and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2019-2026, the automatic fire sprinkler systems market was valued at $1,575 million in 2020, and is projected to reach at $2,148 million by 2026, growing at a CAGR of 10.6% from 2019 to 2026. North America is expected to be the leading contributor to the global automatic fire sprinkler systems market, followed by Europe and Asia-Pacific.

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In 2021, the wet fire sprinkler system, accounted for the maximum revenue share in the overall automatic fire sprinkler systems market as they ensure reliability and are easy to maintain. Moreover, due to less maintenance cost they are widely preferred by various residential and commercial sectors. Residential segment is expected to grow at a fastest CAGR of 11.9% owing to growth in urbanization and various investments in infrastructure facilities. Moreover, the commercial segment in the global automatic fire sprinkler systems market is expected to generate maximum revenue during the forecast period (2019-2026).

The global automatic fire sprinkler systems market is segmented based on type, application, and region. By type, the market is divided into Wet Pipe, Dry Pipe, Deluge, Pre-Action, and Others. By application, the market is segmented into Industrial, Commercial, and Residential. Regionally, the market is divided into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa (LAMEA).

The wet pipe segment is anticipated to dominate the global automatic fire sprinkler systems market during the forecast period. The wet pipe sprinkler systems are the most widely used type of sprinkler systems and are suitable for a wide range of applications, including industrial, commercial, and residential. Moreover, the wet pipe systems are the most cost-effective type of fire sprinkler systems and are relatively easy to install and maintain.

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Asia-Pacific is expected to be the fastest-growing regional segment during the forecast period due to the rising demand for fire safety systems from the industrial and commercial sectors in the region. Increasing urbanization and industrialization, along with the rising awareness of fire safety, are fueling the growth of the market in the region. Moreover, the government regulations for fire safety are also driving the growth of the market in the region.

The key players profiled in the automatic fire sprinkler systems market include APi Group, Cosco Fire Protection, Tyco International, Adams Fire Protection, Heiser Logistics, Vfp Fire Systems, American Fire Technologies, Viking Group Inc., Kaufman Fire Protection Systems, Inc., and Grundfos. Market players have adopted various strategies such as product launch, collaboration & partnership, and acquisition to expand their foothold in the market.

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In conclusion, the global automatic fire sprinkler systems market is expected to witness significant growth over the forecast period due to the increasing awareness of fire safety, the growing demand for safety systems from industrial and commercial sectors, and the stringent government regulations for fire safety.

David Correa
Allied Analytics LLP
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