Rising Investment in Heavy Industries as well as Increasing Awareness Regarding Fire Safety Would be the Key Drivers for the Growth of Global Water Mist Fire Protection Systems Market - 6Wresearch
The market for water mist systems is gaining significant importance fire protection systems market. Water mist systems, which were primarily used in marine applications have evolved largely land based applications as well. The demand for water mist fire protection systems is likely to increase across multiple applications including data centers, tunnels and oil & gas plants during 2018-24. This growth in demand is mainly due to certain key advantages that these offer such as less water consumption and less space requirement- over their traditional counterparts.
According to 6Wresearch, Global Water Mist Fire Protection Systems Market revenues are projected to grow at a CAGR of 10.9% during 2018-24. Presently, the services market for water mist systems dominates the overall global market in terms of revenue share. Since these systems have been in heavy use in the shipbuilding industry for the past several decades, services such as maintenance and repair are common and recurrent phenomenon in the global marine landscape.
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According to Ravi Bhandari, Assistant Manager, 6Wresearch, "The high pressure water mist system is the leading revenue generating segment in the overall global water mist systems market on account of its widespread applications across industrial, commercial and residential verticals. In addition, efforts made by the governments of several countries such as Sweden, India and Norway, for developing transportation infrastructure in their respective nations would further strengthen the market for such systems during the forecast period."
"Europe is the highest revenue contributing region in the global water mist fire protection systems market primarily due to strict monitoring by fire authorities, presence of a strong shipbuilding industry and rising awareness about fire safety among end users," Ravi further added.
According to Akash Jain, Research Analyst, 6Wresearch, "The demand for low and high pressure water mist system is expected to remain strong due to rising construction activities in the industrial and transportation infrastructure segments. Low pressure systems are highly effective in suppressing fire in applications such as underground stations and tunnels on account of a better cooling and misting effect along with less installation space requirements.
"With the growth of shipbuilding industry slowing down in recent years, coupled with increasing awareness about the advantages of water mist fire protection systems, land based installations of water mist fire protection systems are expected to exhibit healthy growth in future," Akash concluded.
Some of the major players in Global Water Mist Fire Protection Systems market include- Marioff, Fogtec, Danfoss SEMCO, Securiplex and Tyco.
"Global Water Mist Fire Protection Systems Market (2018-2024)" provides in-depth analysis with 382 figures and 51 tables covered in more than 400 pages. The report estimates and forecast the overall global water mist fire protection systems market's components and services, by pressure, types, applications, regions and countries. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.
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