The world's largest market research store has recently released the "Fire Sprinkler Market by Type, Service, Component, Application, and Geography - Forecast to 2020" report.
According to their press release in PR News Wire, the fire sprinkler market has been on demand for the last few years because of the increased awareness on fire protection by enterprises to prevent the loss of life and property. Several Governments also imposes strict laws that require the installation of fire sprinklers in commercial, residential, and industrial areas. This mandatory installation of fire sprinklers is considered to be a huge opportunity for the possible of the global fire sprinkler market.
Despite the steady gain in momentum, the fire sprinkler market is being restricted due to some factors including the high cost of installation and lack of integrity in system interfaces.
The "Fire Sprinkler Market by Type, Service, Component, Application, and Geography - Forecast to 2020" reported that the global market was valued at $6,470.99 Million in 2014 and is expected to reach $11,045.29 Million by 2020, at a CAGR of 9.36% between 2015 and 2020.
Fire security is a major concern in the United States due to which, there is a greater emphasis on the installation of fire sprinkler systems. Moreover, there many companies in the fire sprinkler market in this region that provide modern solutions to address the fire protection related demands of the end-users.
Fire sprinkler systems play a crucial role in the reduction of fire risk in commercial, industrial, and residential buildings. These systems are being increasingly installed in several sectors due to the capability of the systems to detect, restrict, and extinguish fires in the early stages.
The fire sprinkler report by Research and Market presents an in depth insight into the fire sprinkler market and identifies the key trends that pertains to various segments of the market, in addition to providing detailed quantitative and qualitative information.
