South Korea Fire Suppression Market Size & Outlook
South Korea fire suppression market, 2018-2030 (US$M)
Related Markets
South Korea fire suppression market highlights
- The South Korea fire suppression market generated a revenue of USD 213.2 million in 2023 and is expected to reach USD 326.6 million by 2030.
- The South Korea market is expected to grow at a CAGR of 6.3% from 2024 to 2030.
- In terms of segment, fire extinguishers was the largest revenue generating product in 2023.
- Sprinklers is the most lucrative product segment registering the fastest growth during the forecast period.
Fire suppression market data book summary
| Market revenue in 2023 | USD 213.2 million |
| Market revenue in 2030 | USD 326.6 million |
| Growth rate | 6.3% (CAGR from 2023 to 2030) |
| Largest segment | Fire extinguishers |
| Fastest growing segment | Sprinklers |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Fire Extinguishers, Sprinklers |
| Key market players worldwide | Maximus Inc, Gentex Corp, Halma PLC, Hochiki Corp ADR, Honeywell International Inc, Johnson Controls International PLC, Robert Bosch Engineering & Business Solutions, Siemens AG, RTX Corp, Fike |
Other key industry trends
- In terms of revenue, South Korea accounted for 1.1% of the global fire suppression market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China fire suppression market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 708.9 million by 2030.
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Fire Suppression Market Scope
Fire Suppression Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South Korea fire suppression market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to fire suppression market will help companies and investors design strategic landscapes.
Fire extinguishers was the largest segment with a revenue share of 59.24% in 2023. Horizon Databook has segmented the South Korea fire suppression market based on fire extinguishers, sprinklers covering the revenue growth of each sub-segment from 2018 to 2030.
According to the U.S. Department of State, South Korea is an attractive investment destination for foreign players largely due to its political stability, logistics, and information & communications infrastructure.
The U.S.-Korea Free Trade Agreement (KORUS), which came into force in 2019, further improved the investment inflow from the U.S. Textile, steel, automobile manufacture, shipbuilding, and electronics are among the major industries that contribute mainly contribute to South Korea’s GDP.
Diverse measures have been put in place to promote reasonable development and a consistent supply of local natural resources. These policies promote self-sufficiency and industrial advancement by increasing mine development activities.
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Target buyers of South Korea fire suppression market databook
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Our clientele includes a mix of fire suppression market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the South Korea fire suppression market , including forecasts for subscribers. This country databook contains high-level insights into South Korea fire suppression market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea fire suppression market size, by product, 2018-2030 (US$M)
South Korea Fire Suppression Market Outlook Share, 2023 & 2030 (US$M)
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