Asia-Pacific Fire Sprinkler Market

Market Overview

The Asia-Pacific fire sprinkler market size was valued at USD 2,365 million in 2022 and is projected to reach USD 4,977 million by 2031, registering a CAGR of 7.8% during the forecast period (2023-2031).

The Fire Sprinkler is a magnetic fire mitigation system that helps reduce greenhouse gas emissions from structures during fires. Fire sprinklers are widely employed in sectors where loss from fire threats is particularly significant, such as oil and gas, telecommunication, mining, energy and electricity, and data centers.

The Asia Pacific Fire sprinkler market is expected to grow because of technological advancement and more efficient and effective solutions. These technological improvements are anticipated to accelerate the market growth and also because of the growing insurance industry, as insurance companies provide incentives or discounts for buildings that have fire sprinkler systems installed.

Highlights

• Product type dominates the market by type. 
• The Stop Value dominates the market by Components.
• Active Fire Protection dominates the market by technology.
• Commercial dominates the market by the end user.
• China dominates the market by region.

Market Dynamics

Asia-Pacific Fire Sprinkler Market Drivers

Technological Advancement

The design, production, and installation of fire sprinkler systems are all undergoing technical developments in the fire sprinkler sector. For instance, there is growing interest in developing smart sprinkler systems that employ sensors and data analytics to detect and put out fires in the Asia Pacific region. By presenting more effective and efficient fire prevention solutions, these technological improvements are anticipated to accelerate market growth.

Growing Insurance Industry 

Due to a growing understanding of the value of insurance coverage, the insurance market is expanding significantly throughout the Asia Pacific region. Due to the decreased danger of property damage and fire fatalities, many insurance companies provide incentives or discounts for buildings with fire sprinkler systems installed. As a result, building owners and operators may anticipate an increased demand for fire sprinkler systems in the area as they look to lower insurance costs and enhance risk management procedures.

Asia-Pacific Fire Sprinkler Market Restraints

Limited Awareness of Fire Safety

Although many nations enforce stricter fire safety laws, there may still be some areas where building owners and operators are unaware of the value of fire safety. As a result, building owners and operators might prioritize other aspects of building construction and maintenance, which could reduce demand for fire sprinkler systems and other fire safety goods and services.

Asia-Pacific Fire Sprinkler Market Opportunities

Government Investment in Building and Infrastructure Projects

Governments have undertaken several projects related to infrastructure development. The growth of the fire sprinkler industry in infrastructure projects across many sectors is fueled by an increase in real estate investment. For instance, the Kuwaiti government stated in February 2020 that it would invest USD 1.09 billion in residential buildings to address the country's housing needs. Furthermore, Japan allocated USD 367 billion in 2019 for infrastructure development in Southeast Asian nations like Indonesia, Singapore, Thailand, and the Philippines. Therefore, government investments in the building infrastructure sector would likely present growth prospects for the market's participants for fire sprinklers.

Regional Analysis

The Asia-Pacific Fire Sprinkler market is segmented based on the country into India, Japan, Korea, Australia, Taiwan, Southeast Asia, Rest of Asia. China dominates the country market and is expected to grow at a CAGR of 8.1% during the forecast period.

In the upcoming years, the Asia-Pacific (APAC) fire sprinkler market is expected to experience rapid expansion. There are various reasons for this. High-rise construction is one of these, raising people's knowledge of the importance of fire safety in the area. Urbanization and industrialization are occurring quickly in nations like China, India, and Japan. As a result, these nations have a greater requirement for fire safety equipment, boosting the market. In these nations, a rise in construction activity—particularly in the commercial and industrial sectors—is driving a rise in the need for sprinkler systems.

Segmental Analysis

The Asia-Pacific fire sprinkler market is segmented based on type, component, technology, end-user, and country. 

The Asia Pacific sprinkler market has been segmented based on type into product and service. 

The Product type dominated the market and is expected to register a CAGR of 7.9% over the forecast period.

Based on components, the market is further segmented by Stop Value, Alarm value, Fire sprinkler head, Alarm test value, and Motorized alarm bell.

The Stop Value dominated the market and is expected to register a CAGR of 7.8% over the forecast period.

The market is further segmented by Active Fire Protection and Passive Fire Protection based on technology.

Active Fire Protection dominated the market and is expected to register a CAGR of 7.2% over the forecast period.

Based on End-User, the market is further segmented by Commercial, Residential, and Industrial.

The Commercial dominated the market and is expected to register a CAGR of 8.5% over the forecast period.

Recent Developments

• May 2023 - Newage India declared it had been awarded a contract to put fire sprinklers in a brand-new high-rise structure in Mumbai, India. The contract's value is a hundred million yen (US 1.2 million).
• April 2023 - Fire Safety Singapore declared that a new office had been established in Malaysia's Johor Bahru. The company will be able to contact more customers in Malaysia thanks to the new office.