Fire Protection Systems Market to Reach US$8.93 Billion by 2023 With Rising Cases of Property Loss Due to Fire, Noted TMR
Get PDF Brochure for Research Insights at: https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=2879
According to experts from TMR, the global fire protection systems market is expected to gain revenue worth US$8.93 bn by the end of 2023. The market was valued US$5.08bn in 2014. Experts project this growth to occur at a promising CAGR of 6.48% during the forecast period from 2015 to 2023.
Among various sectors in the market, the downstream operational sector is expected to boost the global fire protection systems market during the forecast period in terms of revenue growth. With respect to geography, North America is expected to account for a leading share in the global fire protection systems market in the coming years. This is attributed to flourishing oil and gas industries in the region and growing demand from the U.S and Canada for fire protection systems.
Request a Sample of Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=2879
Rapid Adoption of Fire Safety Equipment in Oil and Gas Industry Stokes Demand in Market
Fire protection systems are mainly emergency response equipment which are used to curb fire outbreaks. These systems are utilized for extinguishing and detecting fire. Emergence of fire protection systems help in responding accurately and quickly to fire, compared to the conventional heat or smoke devices. Such USPs are driving the global fire protection systems market. Apart from this, rapid modernization and technological advancements in construction sector, increasing number of deaths, and rising cases of property loss due to fire breakouts are chief factors fueling demand in the global fire protection systems market.
Furthermore, rapid adoption of fire detection equipment in the oil and gas industry, and growing demand for fire suppression systems among workers in various industries are also boosting growth in the global fire protection systems market. Moreover, application of strict rules in fire control through fire-fighting organizations, and rapid development of wireless technologies in detecting and controlling fire are further propelling the global fire protection systems market.
Have Any Query? Ask Our Industry Expert: https://www.transparencymarketresearch.com/sample/sample.php?flag=ASK&rep_id=2879
High Investment in Complicated Fire Protection Systems Hinder Market Growth
A few challenges hindering the growth of the global fire protection systems market are high costs for designing fire detection equipment, and additional investment to fulfill complicated fire protection requirements. Nonetheless, a persistent demand for energy in various industries and increasing number of installations in offshore oil rigs and onshore drilling are believed to help overcome these challenges in the near future.
The review is based on a market research report by TMR, titled, "Fire Protection Systems Market - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2015 - 2023".
Request for Discount On This Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=D&rep_id=2879
The segmentation of global fire protection systems market is based on:
North America
Europe
Middle East and Africa
Asia Pacific
South and Central America
Browse More Factory Automation Market Research Reports
Popular Report by TMR:
About Us
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision."
Contact
Mr. Rohit Bhisey
Transparency Market Research
State Tower
90 State Street,
Suite 700,
Albany, NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: [email protected]
Website: https://www.transparencymarketresearch.com
Research Blog: https://tmrblog.com/
https://mma.prnewswire.com/media/664869/Transparency_Market_Research_Logo.jpg
