The global automatic fire suppression system (AFSS) market size is forecast to surpass USD 17 Billion in 2022. Rising concerns regarding the safety of working professionals in industrial and commercial sectors are expected to boost sales at a 5% CAGR over the assessment period.
| Report Attribute | Details |
|---|---|
| Expected Market Value (2022) | USD 17 Billion |
| Projected Growth Rate (2022 to 2032) | 5% |
Surging demand for effective fire protection systems from manufacturing industries and sectors such as oil & gas, energy, and power, automotive, and packaging are expected to drive the automatic fire suppression system market.
Regulations regarding the adoption of fire protection systems due to the increasing number of accidents worldwide are expected to boost the adoption of these systems in residential and commercial centers. Insurance agencies in various countries are also making it mandatory to install these systems before insuring buildings.
Driven by this, automatic fire suppression systems are increasingly being installed in apartments, homes, hospitals, restaurants, schools, hotels, and offices. Increasing establishments of such projects are anticipated to boost sales of automatic fire suppression systems.
Rapid urbanization in countries such as Japan, China, India, and the United Kingdom will continue driving the adoption of automatic fire suppression systems. In addition to this, technological advancements in these systems to make them more intelligent and sophisticated will augment the growth in the market over the forecast period.
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Manufacturers of automatic fire suppression systems are investing in research and development to integrate connective technologies such as big data and the internet of things (IoT) to improve the functionality and efficiency of products.
The concept of smart smoke detectors is expected to further lead to the high adoption of automatic fire suppression systems. Smart smoke detectors can be connected to wi-fi networks at homes and offices to provide smoke detection alerts. They can be controlled through mobile phones and allow consumers to monitor the battery and operations remotely.
Further, increasing demand from the oil and gas sector is expected to bode well for the market. Sectors such as oil and gas and mining involve dealing with flammable materials such as crude oil, petroleum, butane, and coal.
As these materials are highly flammable, manufacturers are adopting automatic fire suppression systems to avoid accidents. Highly efficient systems like pre-engineered automatic fire suppression systems are essential in the oil and gas sector, which in turn is expected to continue pushing sales over the forecast period.
One of the main challenges in installing these systems is the integration of user interfaces while multiple technologies are being used in the control mechanism. Automatic fire suppression systems are cost-effective and efficient if they are integrated directly into the building's control system.
A lack of awareness regarding the complexity of these systems might hamper the growth of the market. High initial investments in the implementation of these systems due to the complexity of networks is a restraining factors.
As per FMI, demand in the Asia Pacific automatic fire suppression system market is expected to remain high over the forecast period. Increasing urbanization and the development of various commercial and residential projects in various countries in the region are expected to place it as an attractive market.
Increasing investments in the development of residential and public infrastructures in countries such as India, China, Japan, and South Korea are anticipated to fuel the adoption of automatic fire suppression systems.
In addition to this, regulations mandating the adoption of fire protection systems issued by governments and authorities will continue pushing sales in the market over the forecast period.
The rapid adoption of technologically advanced safety solutions in North America is expected to boost the market in the forthcoming years. Manufacturers in the USA are launching automatic fire suppression systems with sensors and IoT, enabling consumers to access these systems remotely.
The expansion of the oil and gas sector in the USA is also expected to drive the market over the forecast period. These systems are being adopted in the oil and gas and mining sector to improve the safety of workers and to avoid accidents, thereby augmenting the growth in the market.
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Johnson Controls, Siemens AG, Honeywell International Inc., Robert Bosch GmbH, and Halma PLC are some of the key players operating in the global automatic fire suppression system (AFSS) market.
Players are investing in research and development to integrate connective technologies in these systems to improve their product portfolios. Honeywell International and Johnson Controls are launching smart fire suppression systems, which are expected to bode well for the market.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 5% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Product Type, End-Use Industry, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; Asia Pacific; Middle East and Africa |
| Key Countries Profiled | USA, Canada, Brazil, Argentina, Germany, United Kingdom, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASIAN, GCC Countries, South Africa |
| Key Companies Profiled | Johnson Controls; Halma PLC; Siemens AG; Honeywell International Inc.; Robert Bosch GmbH |
| Customization | Available Upon Request |
The global automatic fire suppression (AFSS) system market is expected to surpass USD 17 Billion in 2022, expanding at a 5% CAGR.
Asia Pacific is expected to emerge as the most lucrative region in the global automatic fire suppression system (AFSS) market in the forthcoming years.
Halma PLC, Johnson Controls, Honeywell International Inc., Siemens AG, and Robert Bosch GmbH are some of the leading players operating in the automatic fire suppression system (AFSS) market.
| Market Size Value in 2023 | USD 5.1 billion |
|---|---|
| Market Forecast Value in 2033 | USD 9.3 billion |
| Global Growth Rate (2023 to 2033) | 6.2% CAGR |
| Expected Market Value (2023) | USD 3,026.2 million |
|---|---|
| Market Value (2033) | USD 4,614.8 million |
| Projected Growth Rate (2023 to 2033) | 4.8% CAGR |
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Automatic Fire Suppression System (AFSS) Market
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