DUBLIN–(BUSINESS WIRE)–The “Fire Suppression Systems – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
Global market for Fire Suppression Systems estimated at US$19 Billion in the year 2020, is projected to reach a revised size of US$26.6 Billion by 2027, growing at a CAGR of 4.9% over the analysis period 2020-2027.
Dry Chemical-Based, one of the segments analyzed in the report, is projected to grow at a 5.6% CAGR to reach US$10.8 Billion by the end of the analysis period.
After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Water-Based segment is readjusted to a revised 4.6% CAGR for the next 7-year period. This segment currently accounts for a 28.7% share of the global Fire Suppression Systems market.
The U.S. Accounts for Over 29.7% of Global Market Size in 2020, While China is Forecast to Grow at a 6.7% CAGR for the Period of 2020-2027
The Fire Suppression Systems market in the U.S. is estimated at US$5.6 Billion in the year 2020. The country currently accounts for a 29.69% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$3.8 Billion in the year 2027 trailing a CAGR of 6.7% through 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.5% and 4.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast…