The fire suppression market is estimated to be worth 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.
Key factors such as technological advancements and innovations in the construction industry; increasing policies, regulations, and government mandates; and increased damage to human life and property due to fire breakouts are driving the fire suppression market growth.Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=8212480Fire suppression reagent FM200 to hold largest market share between 2018 and 2023FM200 is a clean, colorless, and environmentally friendly fire suppression agent that is electrically nonconductive and safe for humans.
FM200 agent is stored in a cylinder as a liquid and pressurized with nitrogen, which makes it a highly compact fire suppression system.
Due to this, it is used in telecommunication facilities, computer rooms, control rooms, museums and art galleries, historical archive storage, and pharmaceutical and medical facilities.Oil & gas and mining to hold largest share of fire suppression market between 2018 and 2023The use of fire suppression systems is prevalent in the oil & gas industry.
However, various existing fire detection and suppression systems used in the industry need regular maintenance, repair, and replacement of parts due to protocols established in the industry, which would result in the growth of the fire suppression market.
Rising urbanization in emerging markets such as China, India, Indonesia, and Nigeria is expected to accelerate infrastructure spending for vital infrastructure sectors, which include transportation, water & wastewater treatment, and power.
The fire suppression market is estimated to be worth 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.
Key factors such as technological advancements and innovations in the construction industry; increasing policies, regulations, and government mandates; and increased damage to human life and property due to fire breakouts are driving the fire suppression market growth.Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=8212480Fire suppression reagent FM200 to hold largest market share between 2018 and 2023FM200 is a clean, colorless, and environmentally friendly fire suppression agent that is electrically nonconductive and safe for humans.
FM200 agent is stored in a cylinder as a liquid and pressurized with nitrogen, which makes it a highly compact fire suppression system.
Due to this, it is used in telecommunication facilities, computer rooms, control rooms, museums and art galleries, historical archive storage, and pharmaceutical and medical facilities.Oil & gas and mining to hold largest share of fire suppression market between 2018 and 2023The use of fire suppression systems is prevalent in the oil & gas industry.
However, various existing fire detection and suppression systems used in the industry need regular maintenance, repair, and replacement of parts due to protocols established in the industry, which would result in the growth of the fire suppression market.
Rising urbanization in emerging markets such as China, India, Indonesia, and Nigeria is expected to accelerate infrastructure spending for vital infrastructure sectors, which include transportation, water & wastewater treatment, and power.