26 June 2019 –
The Global Automatic Fire Suppression Systems Market
is expected to grow at a significant CAGR in the upcoming period as the scope
and its applications are rising enormously across the globe. Automatic fire
suppression systems extinguish and control fires without human intervention.
The factors that are playing a major role in the growth of
automatic fire suppression system market are the expansion of industries across
the globe, the rising awareness among industries regarding fire protection and
minimizing human loss, and the increasing awareness among consumers regarding
fire safety coupled with mandatory building safety codes. However, the high
investment and lack of awareness among underdeveloped countries may restrain
the overall market growth in the years to come. The market is segmented based on
type, product type, end-user, and region.
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Pre-engineered and engineered automatic fire suppression
systems are the types that could be explored in automatic fire suppression
systems in the forecast period. Condensed aerosol fire suppression, fire
sprinkler system, gaseous fire suppression, and other product types could be
explored in automatic fire suppression systems market in the forecast period.
Globally, Asia Pacific accounted for the significant share
of automatic fire suppression systems industry and is estimated to lead the
overall market in the years to come. In addition, the region is estimated to
grow at the highest CAGR in the years to come. The reason behind the overall
market growth could be the rising demand from end-users. The developing
countries like India and China are the major consumers of automatic fire
suppression systems in this region.
The key players of automatic fire suppression systems market
are Halma PLC, Siemens AG, Honeywell International Inc., Tyco, Robert Bosch
GmbH, and Johnson Controls. These players are concentrating on inorganic growth
to sustain themselves amidst fierce competition.
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