Automatic Fire Sprinkler Market worth USD 21,595.73 million by 2027

The Market Statsville Group (MSG) publishes the new report on the "Automatic fire sprinkler Market by Type (Wet Fire Sprinklers, Dry Fire Sprinklers, Preaction, and Deluge), by Industry Vertical (Commercial, Residential, Energy and Power, Industrial & Manufacturing, Oil, Gas, and Mining, Transportation & Logistics, Others), and by Region - Global Trends, Market Share, and Forecast to 2027". 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. 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.

Global Automatic Fire Sprinker Market Segmentation

The overall automatic fire sprinkler market has been segmented into type, industry vertical, and region.

• By Type (Wet Fire Sprinklers, Dry Fire Sprinklers, Preaction, and Deluge)
• By Industry Vertical (Commercial, Residential, Energy and Power, Industrial & Manufacturing, Oil, Gas, and Mining, Transportation & Logistics, Others)
• By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)

Commercial, by industry vertical, is estimated to hold the largest market share during the forecast period

Based on the component, the global automatic fire sprinkler market has been segmented into software, hardware, and services. In 2020, Commercial accounted for the largest market share of 46.132% in the global automatic fire sprinkler market and had a CAGR of 34.36% during the forecast period.

Fire protection is one of the basic and most important factors for every commercial space. Fire can cause damage to various merchandise, property, and people, which are the most important asset of any organization. In order to safeguard lives and property, automatic fire sprinklers are installed that require certain standards to be followed. Owing to the increasing awareness regarding fire safety and the deaths occurring due to fire hazards, various commercial sectors such as healthcare, hospitality, consumer goods & retail, banking, and financial services are expected to install automatic fire sprinklers to reduce the damage caused by fire. Hotels and leisure industries are also widely adopting the installation of fire sprinklers to protect the occupants and prevent them from various fire injuries and accidents.

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North America accounts for the largest market share during the forecast period in the automatic fire sprinkler market

Based on the regions, the global automatic fire sprinkler market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2020, North America was accounted for the highest market share of 38.71% in the global automatic fire sprinkler market. It was anticipated to maintain its dominance throughout the forecast period, followed by Europe and the Asia Pacific.

The North American region includes countries such as the U.S., Canada, and Mexico. Stringent government regulations & mandates and infrastructural developments drive the market for automatic fire sprinklers systems. High-rise buildings are in need of fire protection systems, and strict fire safety codes are being implemented to minimize the risks and losses that would be caused by fire. The U.S. and Canada have witnessed major infrastructural developments owing to high population growth rates in these regions. The growth of automatic fire sprinklers in the U.S. is high due to increased construction activities and improving solid economic conditions, and willingness to spend on fire protection of homes. In addition, increasing housing and job markets supported the growth of automatic fire sprinklers. Moreover, high NFPA regulations and mandates have made it compulsory for newly constructed homes to install fire sprinklers.

The leading global automatic fire sprinklers market are API Group, Koorsen Fire & Security Inc., Cosco Fire Protection, Adams Fire Protection, American Fire Technologies, Johnson Controls International Plc., United Technologies Corporation Kaufman Fire Protection Systems, Inc., and Grundfos.

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