North America Fire Sprinkler Systems Market Size

North America Fire Sprinkler Systems Market Analysis

The North American fire sprinkler market (henceforth, referred to as the market studied) was valued at USD 2.85 billion in 2019, and it is projected to be worth USD 4.40 billion by 2025, registering a CAGR of 9.81% during the period, 2020-2025. The protection of life and property and prevention of loss or damage due to fire incidents is one of the prominent reasons for the increasing demand of the fire sprinkler system in the North America region.

• According to National Fire Protection Association (NFPA), in 2019, local fire departments responded to an estimated 1.3 million fires that have caused roughly 3,700 civilian fire deaths, and 16,600 reported civilian fire injuries, and property damage was estimated at USD 14.8 billion in the United States. In addition, on average, a fire department responded to a fire somewhere in the United States every 24 seconds in 2019.
• The North American fire sprinkler market is witnessing growth in the services solution, which includes the design, installation, maintenance services, inspection and managed services, among others. According to Manitoba Health Canada, since 2015, Manitoba province has spent CAD 25.5 million in the installation of fire sprinklers at the personal care homes and hospitals. In addition, it has been allocating CAD 7 million annually toward sprinklers and other fire safety equipment in health facilities.
• Among different types of fires system, the wet pipe fire system is witnessing significant growth in the region owing to its nature of installation and components, low maintenance, cost-efficient for owners. In addition, the high rises or commercial buildings with more than one floor commonly installs wet pipe sprinkler systems the most.
• The industrial sector will also witness prominent growth of the market owing to the high fire risk associated with the various sector such as manufacturing, oil & gas, mining, among others where flammable and combustible materials such as petroleum, crude oil, flammable gases (such as butane), coal, and many others are used in these sectors that are highly susceptible to the fire where installation of the fire sprinkler system prevent fires in these sectors.
• According to NFSA, before Covid-19, the fire sprinkler industry was booming in the United States. With the outbreak of the COVID-19, the market for a free sprinkler system in the region is expected to witness significant growth owing to stay at home mandates where there are chances of the home cooking fire. Thus, various associations and government bodies are emphasizing on the importance of using a home sprinkler system to prevent such fire accident causes. As the pandemic pressed in, NFSA reacted swiftly to ensure that states included fire sprinkler contractors on lists of essential workers that has resulted in a positive impact on the market studied.