Global Automatic Fire Suppression System AFSS Market Set for Rapid Growth And Trend, by 2025
Wednesday, March 23, 2016
Future Market Insights has announced the addition of the “Automatic Fire Suppression System AFSS Market: Global Industry Analysis and Opportunity Assessment 2015-2025" report to their offering.
Unattended breakout of fire damages assets and endanger human lives. At industries or manufacturing plants, damaged machinery/assets are expensive to repair or replace. Most of the times due to fire hazards, businesses cannot continue with the operations, and the business downtime causes financial and goodwill loss. Automatic fire suppression system (AFSS) is used in industries to control and extinguish the fire without human interference. Automatic fire suppression system is largely used in industries to protect life, assets, climate & environment and to ensure business continuity.
An automatic fire suppression system is also used in vehicles to control and extinguish fire. The system is specially designed for vehicles to withstand vibrations of vehicles and the system doesn’t require any power supply to make them use anywhere and anytime. The system is easily integrated with the vehicles, due to its low weight.
The automatic fire suppression system contains infrared optical detection, fire suppressing storage cylinders, alarm unit and other components to prevent the assets and lives from the fire. There are different types of automatic fire suppression system available such as fire detectors, fire extinguisher and sprinklers.
Global Automatic Fire Suppression System Market: Drivers and Challenges
The demand for automatic fire suppression is growing with the expansion of various industries globally, especially in the Asia Pacific, Western Europe and North America. The automatic fire suppression system is already being implemented in various industries such as manufacturing, mining, automotive, oil & gas. Implementation of stringent government regulations to create a safe environment by encouraging the installation of automatic fire suppression system market is fueling the growth for the global automatic fire suppression system market. Growing demand for safety features in vehicles in developing countries and above factors are propelling the growth for global automatic fire suppression system market.
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Though, the demand for automatic fire suppression system is increasing in the developing countries, the system has low awareness in underdeveloped countries. The automatic fire suppression systems requires higher capital investment, this is inhibiting the growth of the Global Automatic Fire Suppression System market.
Global Automatic Fire Suppression System Market: Overview
The Global Automatic Fire Suppression System market by value is expected to expand at a CAGR of around 7-9 percent during the forecast period (2015-2025), due to stringent government safety regulations, growing demand from various industries, etc.
Global Automatic Fire Suppression System Market: Segmentation
The global automatic fire suppression system market can be segmented by end-use industry, by product type and by regions.
Based on end-use industry, the global automatic fire suppression system market is segmented as:
- Oil and gas
- Automotive, and others
Based on product type, the global automatic fire suppression system market is segmented as:
- Engineered Automatic Fire Suppression Systems
- Pre-engineered Automatic Fire Supression Systems
Global Automatic Fire Suppression System Market: Region-wise Outlook
The global automatic fire suppression system market is expectedto register a single-digit CAGR for the forecast period. Depending on geographic regions, the global automatic fire suppression system market is segmented into seven key regions: North America, South America, Eastern Europe, Western Europe, Asia-Pacific, Japan, and Middle East and Africa. In terms of market volume and revenue, Asia Pacific automatic fire suppression market is projected to register a significant CAGR during the forecast period. Growing demand for the system from industries such as Mining and Oil & Gas, especially in the economies like India and China, is fueling the growth of the global automatic fire suppression system market in Asia Pacific. Western Europe is also forecast to register a significant growth in the global automatic fire suppression system market, due to stringent government regulations to increase the safety.
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