Fire Suppression Market

Product Launches and Developments, Acquisitions, and Collaborations to Enhance their Product Offerings and Expand their Businesses in the Fire Suppression Market

The fire suppression market is expected to be valued at USD 22.97 billion in 2018 and is projected to reach USD 29.13 billion by 2023, at a CAGR of 4.87% between 2018 and 2023. Fire suppression systems help prevent fire accidents and subsequently the damages caused by them, reduce the impact of uncontrolled fires, and thus save lives and property. A fire suppression system comprises fire detectors, fire extinguishers or suppressors, and fire dissipation equipment required in emergencies.

Key players in the fire suppression market are Johnson Controls, United Technologies, Robert Bosch, Siemens, Halma, Hochiki, Firefly, Minimax Viking, Honeywell, and S&S Fire Suppression Systems. Key innovators in the market are EMS Security Group, Electro Detectors, Napco Security Technologies, Fike, and Gentex. These are focusing on strategies such as product launches and developments, acquisitions, and collaborations to enhance their product offerings and expand their businesses.

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Johnson Controls recently started concentrating on its core business by acquiring nonprofit companies. This helped the company grow its revenue and expand its presence in emerging markets, including India, China, and some countries in the Middle East and Latin America. Johnson Controls offers fire detection and alarm systems, and fire response systems. Fire detection and alarm systems offered by the company are fire alarm panels and fire alarm peripheral devices such as detectors, sounders, and manual call points. Fire response systems include mass notification devices. The company has a business unit committed to developing and providing quality products, services, and solutions related to fire suppression safety and security. As a leading innovative firm, the company is focused on delivering value to shareholders and meeting the needs of its customers. Tyco and Johnson Controls merged to form Johnson Controls (US) after the spin-off of automotive seating company Adient plc (Ireland). After the merger, Johnson Controls became a leading provider of building and energy storage solutions and services with estimated revenue of ~USD 30 billion in the financial year 2017.

UTC Climate, Controls & Security has been offering a broad portfolio of fire suppression products for various applications. The company follows an organized approach toward fire security. It focuses on enhancing its technology business through product launches, partnerships, and acquisitions. For instance, in August 2016, the company launched linear heat detectors that are suitable for use in hazardous environments. Furthermore, in July 2015, Chubb Edwards (Canada), a subsidiary of UTC Climate, Controls & Security, acquired Fahrenheit 451 (Canada), a fire safety solution provider, to fortify its presence in the country. The company aims to enhance its production of fire suppression and detection solutions. In 2016, the company opened a research and design center in India. It has also opened a center of excellence in France. These R&D centers focus on the development of new products to strengthen their customer base.

Other companies in the fire suppression market are Noha Norway, Sterling Safety Systems, FireProTec, Fire Suppression Limited, and Encore Fire Protection.

Related Reports:

Fire Suppression Market by Product (Fire Suppressors, Fire Detectors and Control Panels, Sprinklers, Nozzles, Caps, and Control Heads), Suppression Reagent, Sector (Residential, Commercial, Industrial), and Region - Global Forecast to 2023

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Report Code
SE 6467
RI Published ON
7/18/2018
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