Europe is also claimed to be another lucrative ground for fire suppression market growth, with U.K at its foray. In fact, U.K fire suppression industry, is estimated to witness a y-o-y growth of 3% over 2017-2024.

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Fire Suppression Market Future Demand & Emerging Trends
by 2024
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 As reported by Global Market Insights, Inc., fire suppression market size will exceed a
valuation of USD 16 billion by 2024, with the overall target annual installation to
surpass 500 million units by 2024. Tremendous increase in the number of fire accidents
and hazards over the last couple of years across the globe is stupendously driving fire
suppression market size. Validating this crucial fact- International Rescue Services in
one of the latest reports estimated that over 60000 injuries and 20000 casualties were
recorded in the year 2014, due to fire.
 Strong positive outlook toward building safety codes along with growing incidence of
fire hazards is expected to stimulate the product penetration in this country. If experts’
estimations are to be relied on, U.S. fire suppression industry is anticipated to exceed
an annual installation of 150 million units in the coming seven years.

2.  The percentage is increasing day by day, which proves to be a significant contributing
factor contributing to the regional fire suppression market share. The British
government in this regard, has taken substantial steps toward the development of
workplace safety especially across residential and commercial sectors.
 For Instance, The BAFSA (British Automatic Fire Sprinkler Association) deals with
building codes that standardize the installation, design, and sprinklers in residential
complexes of U.K. The British government has also mandated that the premises with
heavy electrical equipment should have installations of 5kg CO2 extinguisher. For fire
suppression industry players, this is a vital factor to be taken into consideration.
 Europe is also claimed to be another lucrative ground for fire suppression market
growth, with U.K at its foray. In fact, U.K fire suppression industry, is estimated to
witness a y-o-y growth of 3% over 2017-2024. Spreading awareness among the
Europeans with regards to increasing adoption of fire protection system has fostered
the regional market proliferation. Additionally, the European Commission estimates
that approximately over 70000 people get hospitalized every year from fire hazards
with a subsequent damage of almost USD 148.6 billion.
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 Fire Suppression Market Scenario:
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 Competitive Analysis:
 Global fire suppression market is characterized by the participation of some of the
renowned biggies like TYCO, Amerex Corporation, United Technologies Corporation,
National Fire Equipment Ltd., SFFECO, Minimax, and Master Fire Preventions Ltd.
These giants are increasingly focusing on product innovations which are endowed
with advanced technological affluences.
 Regional Analysis:
 The U.S. government, for instance, has established NFPA (National Fire Protection
Association) codes and protocols for the standardization of equipment and
protection systems across the country. Undoubtedly, it has brought remarkable
proceeds in the regional fire suppression market trends. U.S. is one of those fire-
accident prone regions where the record is noticeably high. In fact, National Fire
Protection Association, in its latest report, stated that in the year 2015, America
accounted for almost 1,345,500 fire accidents.

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