Persistence Market Research’s latest research report on ‘Automatic Fire Sprinkler Systems Market’ delivers a comprehensive study on current market trends. The outcome also includes revenue forecasts, statistics, market valuations which illustrates its growth trends and competitive landscape as well as the key players in the business.
New York, NY -- (SBWIRE) -- 05/07/2019 -- Fire sprinkler system is used as one of fire protection measure. Fire sprinkler system consists of water supply system, providing required pressure and flow to the water distribution piping system where the fire sprinklers are connected. Sprinklers systems are majorly installed on building codes or on the recommendation of the insurance company to reduce loss of property or potential business damage. Buildings having more than 100 people or place where people stay for overnight such as hotels, nursing homes, dormitories and hospitals are equipped with automatic fire sprinkler system under local building codes.
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In the past automatic fire sprinkler system were only used in commercial building or factories to protect properties or potential business loss. Recently, automatic fire sprinkler system has gained its important in hotels, motels, residential buildings and other similar institution. According to working system automatic fire sprinkler system can be bifurcated into wet (used in residential buildings), dry (used in the cold weather region), deluge and pre-action sprinklers systems. Commercial and residential are the major end-users of automatic fire sprinklers systems. Other end-users include hotels, motels, nursing homes, dormitories, hospitals and other similar institutions.
North America has the largest market share for automatic fire sprinklers system, followed by Europe and Asia-Pacific. North America is expected to maintain its dominance in the forecasted period. The U.S. market alone holds the largest market globally accounting for more than one third of global market. Asia-pacific region is expected to witness double digit growth in coming future. Developing countries such as India and China may boost the Asian automatic fire sprinklers systems market.
Increasing number of fire related deaths and loss of property is driving the global automatic fire sprinklers system market. Additionally, government regulations coupled with insurance company recommendation to equipped commercial, residential or other similar building with proper fire security system to protect loss of property is driving the global market to some extent. In 1990 the U.S. government passed an act "The Hotel and Motel Safety Act" which requires that any hotel, motels, meeting hall and similar places which receives federal monetary benefits (government traveler's overnight stay or for a conference) must meet the required fire and other safety measures. Since then automatic fire sprinklers systems demand has increased in major developed countries. Also, multinational companies who have started their operation in the developing countries such as India and China might demand better fire security system. This may further increase the demand for automatic fire sprinklers system.
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Some of the major companies operating in the global automatic fire sprinklers system are APi Group, Cosco Fire Protection, Tyco International, Adams Fire Protection, Heiser Logistics, Koorsen Fire and Security and American Fire Technologies.