Fire protection deliveries to exceed 630 (‘000 units) through
NEW YORK, NEW YORK, USA, September 15, 2022 /EINPresswire.com/ — Logistics and warehousing solutions, in high demand from the e-commerce industry, which include the integration of material handling, warehousing, packaging, transportation, inventory management, supply chain management, procurement and delivery security aspects, drive fire protection sales. systems at the global level.
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Star growth expected for fire protection systems
According to the recently released Persistence Market Research (PMR) analytics, global fire protection sales revenue will exceed US$45.2 billion in 2019. in “fire fighting systems market” started entering emerging markets, the report says.
fire fighting systems market
In the Wheel of Fortune, PMR’s Fire Protection Systems Report placed product types, end uses, and regional segments in different growth quadrants, from slow to fast growth quadrants.
Significant demand for fire extinguishing systems has been identified: In terms of product type, while fire detection systems rank in the sustainable growth quadrant, moderate growth in fire extinguishers and fire extinguishing systems is projected over the forecast period. Fire suppression systems, on the other hand, are in the high growth quadrant due to rising safety standards. Segment analysis shows the largest market share – almost 52 percent – for fire extinguishing systems.
Industrial Deployment for Maximum Revenue: Based on end use, fire protection systems will increasingly be deployed in the industrial sector, which is in the Fast Growth Quadrant. While the commercial sector has shown a moderate pace throughout the evaluation period, the implementation of fire protection systems in the residential sector is in the sustainable growth quadrant. An in-depth analysis of the end use segment shows that approximately 38 percent of the market belongs to the industrial sector.
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Industries such as manufacturing, oil and gas, mining and maritime are expected to see widespread adoption of fire protection systems, given the tightening of government regulations aimed at raising safety standards.
Emerging economies have notable market potential: Southeast Asia and the Pacific and China both occupy positions in the high growth quadrant and are considered the most profitable sources of revenue in the global fire protection systems market. In this region, India is predicted to become the most profitable country in the coming years, given the growing manufacturing sector in the region.
In addition to North America, which occupies a position in the sustainable growth quadrant, Latin America, Europe, the Middle East and Asia (MEA) are represented as moderately growing regions in the global fire protection systems market. Increased investment in new projects at MEA is predicted to drive demand for safety equipment such as fire protection systems. North America and Europe are also expected to generate significant revenue for the global fire protection systems market through stringent security and safety solutions.
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High market fragmentation hinders growth
The global fire protection systems market exhibits a highly fragmented competitive environment due to the wide presence of small and medium tier 2 players, which account for almost 80 percent of the market. On the other hand, Tier 2 players hold approximately 20 percent of the market share. Although the presence of large manufacturers of fire protection systems is limited, they are expected to generate more revenue than smaller manufacturers of fire protection systems, which are estimated to be in excess of US$600 million.
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